Starting a Start-up Program Initiated

World Trade Center Bhubaneswar in association with Entrepreneurship Development Institute of India (EDII) and Start-up Odisha organized a webinar initiating a series of learning sessions on Starting a Start-up. The three sessions program aims to provide insights to the attendees on idea identification & conceptualization, validation of the idea in the current market scenario, regulatory norms of registering a firm, fund management, drafting a business plan and project report. The program shall comprise of three separate sessions by technical experts. The centre conducted an introductory session of the series which aimed at an overall briefing to the attendees on the basics of initiating a start-up. Mr. Ashiwini Kumar Rath, Chief Executive Officer, Batoi System Pvt Ltd. and also the Convenor to the WTC Bhubaneswar Start-Up Think Tank in his address spoke about the about conceptualization of an idea, identification of the product or services which caters both locally and can also go global with its problem solving ability. He deliberated on the process of developing an idea into a realistic venture through various processes such a preparing a business plan, managing the investors and executing the idea keeping the personal & societal parameters. He advised the aspiring start-ups to practice ABCD of starting a business implying analytics, business skills, effective and efficient communication techniques and digital presence as the key parameters for a success. Mr. Debasish Patnaik, President, The Indus Enterprisers (TiE) Bhubaneswar also an Angle Investor & Hotelier in his address explained the difference between an enterprise and a start-up. Emphasising on the novelty of idea he referred to a Start-up as something which has an opportunity to scale up. He further deliberated on the need for appropriate market analysis and identification of customer advantage. He also advocated on patenting the idea as a very crucial tool for a start-up to succeed. Speaking on funds raising he explained about the time proportions involved between initiation and closure of the finance tasks. He further highlighted on the importance of making the product flexible enough to be enhanced according to the market trends. He urged the start-ups to explore the resources made available by various sources such as government bodies and angle investors. Dr. Subrata Biswal, In-charge & Faculty, EDII Bhubaneswar, spoke about the Start-up village eco system and shared that EDII has recently developed 8000 nano & micro enterprises in Odisha. He spoke of India as an innovation driven economy as highlighted Odisha as a state which huge untapped opportunities. He shared information on the role of EDII in developing new generation enterprise across sectors. He also spoke on both technical and management skills such a problem identification & solving creating a responsive enterprise. He advocated for development of an eco-system which is pro start-ups where investors are encouraged as well as proper incubation and mentoring support is made available to the start-up units. Mr. Rashmi Ranjan Sahu, Senior Mission Associate, Start-up Odisha initiative Government of Odisha made a detailed presentation on the support extended by Start-up Odisha and how the start-ups could take advantage of this program. Earlier Ms. Nimeshika Natarajan, Assistant Director, World Trade Center Bhubaneswar in her addressed welcomed the dignitaries and set the context for the session. She also shared details about the various initiatives taken by the Center in order to handhold and supports the local trade fraternity in the tough pandemic period. Ms. Asha Mohapatra, Assistant Manager, World Trade Center Bhubaneswar proposed the vote of thanks.