Chance to virtually visit KIIT Technology Business Incubator Bhubaneswar on December 28, 2020

Department: MBA
Event: Chance to virtually visit KIIT Technology Business Incubator Bhubaneswar(Live webinar session).
Date of Event: Monday, December 28, 2020
Time of Event: 03:00 pm to 04:00 pm
Venue: Online – Google Meet
Convener/Coordinator: Prof. Snehal Phatak
Facilitated by: Ms. Vandana Sharma, Manager-E-Cell Acropolis Group of Institutions
Facilitator at Incubator: Ms. Soumya Kar, Project Manager, Social Innovation Program, KIIT-TBI
Audience Profile: 2 faculty members, 2 Facilitators of KIIT Technology Business Incubator, and 96 Students of Sem 1 and Sem 3 of MBA Department.
IIC – Acropolis Faculty of Management and Research (AFMR), Indore hosted a webinar organized by Ms. Soumya Kar, Facilitator at KIIT Technology Business Incubator. It was a Virtual Visit, a Live webinar session from Bhubaneshwar. The motive of this visit was to understand the efforts done by Business Incubators to provide a correct path to startups, which have a zeal to do some good for society and also want to solve the problems, which are nurtured here. She started the discussion, stating the 10 Year Journey which they have gone through to reach the heights the business incubator is at today, a platform started in 2009 as just an idea empowering startup. KIIT Technology Business Incubator (KIIT-TBI), a recipient of the 2017 National TBI Award, is a non-profit Portion (8) incubator set up in 2009 as a KIIT Deemed to be University, Bhubaneswar initiative and funded by government bodies such as NSTEDB, DST, Meity, MSME, BIRAC, TDB to improve the nation’s business ecosystem. It has been networked with all TBIs in the country as a Technology Business Incubator through various networks such as ISBA through which the organization is networked with AABI (Asia Pacific), European UKBI, and US NBIA. It is also a member of the Asia Pacific Incubator Network (APIN). The KIIT-TBI helps the young startups with all the steps of the growth which they need to nurture themselves as ready for an Entrpreneur needs to attain success. The Session also helped us know that an incubator gives opportunities to the selected startups on various stages like in the 1st stage of Ideation they help the startup to understand and research the need of the product as well as all aspects of it so that one can have a clear understanding about what they are about to get into; in the 2nd stage, the Incubator helps the startups to prototype their products via various different technologies which they have for this purpose and also help
understand the Chronology of the product. The 3rd&4th stages discuss what is the most MVP thing about the product, how cant it be a Market fit & about how the startup can scale the product up for the growth of the company. After all the Talks we got an opportunity to talk to some of the people of the startups working there and also got a chance to view the types of equipment and various labs that help these startups in the stages of their incubation.
Learning Outcomes: The session enriched our knowledge about:
1. What do we need to have in mind if we are thinking to go on the entrepreneurial road?
2. The stages a startup needs to follow before launching anything in the market
3. How to strategize about entering the market and also considering what changes you bring what are the steps one must take?
Report Prepared by:
Ashish Gambhir, Student Member (IIC-AFMR)