Startup Weekend Imphal, November 7-9, 2014 at MIMS, MU.
Startup weekend Imphal: Unique Taste Company, ACS Medical Advocacy, and Organic Manipur selected best business models.
First ever Startup Weekend event in NE states of India, a 54 hours event focused on “No Talk All Action” held at MIMS, MU came to an end on November 9, 2014. Startup weekend is an event where entrepreneurial individuals with a passion for starting their own business comes together over one weekend, share ideas, form teams, does critical analysis, builds products and launches a startup company.
On the concluding day the eight participating teams demonstrated their prototypes and shared their business plans to the local entrepreneurial leaders.
New business plan demonstrated by ‘Unique Taste Company’, a venture of five aspiring entrepreneurs comprising PG Namsinthailui (DM College of Arts), P Shashikanta (Institute of Co-operative Management), K Chinglemba (ICM), H Sovapati (ICM) and L Prabha (entrepreneur) was selected as the best viable business model by the judges. This company pitched the business model on how to sell local indigenous foods items like packaged Ngari (fermented fish), Soibum (bamboo shoots), U-Morok (King Chilly), Nongmangkha Tea, Chahao Kheer (Red Rice), Nongmangkha and Gooseberry dry fruits with good profits.
Team comprising Rex Ngangom (MBA in finance & marketing), Rogen Sinam (MBA in finance & Marketting), Pinky Chanambam (MBA in HR & Marketting), Srinivas Thongam (MBA in finance & Marketting), Phillippines Lairenjam, Dinbarjit Konsam who came up with their business Model ACS Medical Advocacy was selected second while the team comprising Tarun Kumar, Th Rebina, L Poireinganba, Oinam Shusanta and L Jotin with the company brand “Organic Manipur” was selected third by the judges as feasible business model among the Biz ideas pitched by various participating teams. Organic Manipur pitched their business model as to how the local entrepreneurs can contribute the state economy by dealing with the various fruit and vegetable varieties and fish species.
Startup weekend Imphal was kickstarted on November 7 with several aspiring entrepreneurs from MIMS, NIT, MIT, ICM, DM College of Arts etc and professionals attending the startup event wherein each of them pitched their business ideas. Milk Industry, food processing industry, fish farming, launching of Matrimonial website, juice manufacturing industry etc are some of the business ideas they pitched during the event. Eight selected teams worked hard over the weekend and presented their business models in front of the judging panels on Sunday evening.
Gautam Thokchom, Partner of Tie Launch Pad, USA, while sharing his keynote speech to the gathering, said that entrepreneurship is an absolute freedom what a man wants whatever he wants to do. It is not about dreaming but to act. Entrepreneurs should not be considered as people who are earning money for themselves, but as people who are contributing to the society by providing employment to many jobless, he said while lauding Dr Dhaballi for his bold initiative as an entrepreneur contributing to the industrially backward state.
Dr. Dhabali Thangjam, Chairman, BABINA Healthcare & Hospitality Industries Pvt. Ltd, one of the success entrepreneurs of the state motivated the aspiring young entrepreneurs by recalling the hardship days he experienced during his entrepreneurship journey.
Risk taking is a must for all the entrepreneurs. Every entrepreneur has to prepare for the worst moment. An entrepreneur is, sometimes, expected to face severe bankruptcy in his journey. However, he has to face such challenges instead of giving in, he said.
Problems such as law and order, extortions, frequent Bandhs, lack of infrastructure and good connectivity, Market limitation and market competition are some of the hindrances every entrepreneur in the state faces. Among these problems, ‘Extortion’ is the main hindrance that discourages the spirit of the entrepreneurs, Dr. Dhaballi maintained.
Despite all hardships and difficulties, he has been able to come out as a success entrepreneur with three business sectors namely Babina Healthcare & Hospitality (P) Ltd, Babina Hospitalities (P) Ltd and Babina Healthcare (P) Ltd providing employment to at least 720 people.
Dr. Mecha Devi, director MIMS, gave a thank you note to the organizers and participants. She encouraged the participants to do well with the pitching their business ideas and take part in dynamism of entrepreneurship happening in Manipur.
Bethun Bhowmik, Regional Manager – South Asia at UP Global facilitated the event. He is empowering local leaders via Startup Weekend, Startup NEXT, Startup Digest, and Startup Education programming. He is responsible for expanding Startup Weekend base of operations in South Asia and building a local dedicated team. He also facilitates events and workshops globally.
Coaches and Judges for the event include Khagemba Sanabam, Director of Reliable Hydrotech (Brand: Marina Springs); Geetchandra Sharma, Managing Director, Loktak Industries; Gautam Thokchom, Partner, Tie Launch Pad, USA; Kunjabi Kshetrimayum, Chartered Accountant; Dr. Ibohal Meitei, Faculty, MIMS, MU; Dr. Keshorjit Sororkhaibam, Faculty, MIMS, MU; Roshni Kumar Yambem, MD, Globizs Web Solutions Pvt Ltd; Dr. Jibon K S Leihaothabam, Faculty, MIMS, MU; Dayanidi Huidrom, MD, Intellisome-Consulting; Harjeet Sinam, MD, Kok Sam Lai Pvt Ltd; Nelson Nameirakpam, Editor, HORIZON Magazine; Gokul Wahangbam, Legal/Taxation Consultant; Haobam Joyremba, MD, CubeTen Technologists.
Global sponsors of Startup Weekend include Google for Entrepreneur, Amazon Web Services, Coca Cola and .CO. The selected teams will now receive prizes in the form of a chance to attract VC sand Investors and possible incubator admission with $500 credit sponsored by Google for entrepreneurs and $100 credit sponsored by Amazon Web Services. Apart from this, CO will provide a domain name for each team to build their website.
Startup Weekend Imphal was co-organized by: NIBIAA Consultancy, Dynamic Manipur, MIMS, MU and North American Manipur Association (NAMA) with members from San Francisco, South Korea, Frace, Delhi and Manipur. The event issponsored by the following organizations and companies: The United Nations Educational, Scientific and Cultural Organization (UNESCO), Reliable Hydrotech (Brand:Marina Spring), Loktak Industries (Brand: Silver Dew), Healthcare & Hospitality Industries Pvt. Ltd. (Babina Diagnostics and The Hotel Classic) and Horizon Magazine. Media Partners of the event are Manipur Times, The Peoples’ Chronicle, E-pao, Manipur Mail and Impact TV. The event was kindly endorsed with sponsoring nearly 60 students and non-student participants by Manipurtimes, Korea Manipuri Association (KMA), Manipuri Canada Association (MAC), Knowledge Exchange Network (KEN), WiseWorld Immigration and Education Consultants, and Franchise India.
For latest updates on Startup Weekend Imphal
Dr. Jiten Nongmaithem
Startup Weekend Imphal Team
NIBIAA Consultancy, Dynamic Manipur, MIMS, MU and NAMA, USA