Shillong, June 01: The IIM Shillong Foundation for Incubation and Entrepreneurship (IIMSFIE) inaugurated the second edition of the “Bootcamp for Aspiring Young Entrepreneurs of NER”. Funded by SIDBI, the Bootcamp witnessed participation from 100 budding entrepreneurs from the North East to explore, innovate, and shape the future of the region’s startup ecosystem.
The inaugural ceremony was graced by Prof. D.P Goyal, Director of IIM Shillong; Mr. S Paunminthang Gante, AGM, SIDBI; Faculty members and dignitaries from various sectors also graced the occasion.
Prof. D.P Goyal, in his inaugural address, congratulated the participants and emphasized the importance of entrepreneurship. “It gives me immense pleasure to see young minds being nurtured in a premier institute.
Make the most of this platform and explore the rich possibilities of entrepreneurship in the region. Entrepreneurship requires a mindset and dedication to contribute to the growth of the country,” he stated.
Mr. S Paunminthang Gante highlighted the limitless opportunities for budding entrepreneurs. “With focus and dedication, the sky is the only limit,” he said, discussing the five “Ds” – Dedication, Determination, Discipline, Diversity, and Direction.
The event concluded its intensive 5-day Entrepreneurial Bootcamp with a Valedictory program, Distinguished Guest, Mr. Bhanu Prakash Verma, GM, SIDBI addressed the valedictory session, highlighting the significance of the bootcamp’s mission to foster entrepreneurial spirit in the North East.
Over the past five days, participants were immersed in a series of dynamic sessions, workshops, and interactive activities aimed at equipping them with essential entrepreneurial tools and knowledge. The bootcamp’s vision was clear: to nurture and empower the entrepreneurial potential within the North East.
Key Highlights of the Bootcamp,
- Understanding Market Dynamics and Trends: On day one, participants delved into market dynamics, emerging trends in the startup ecosystem, and the abundant opportunities available.
- Foundations of Business Development: Faculty members shared insights on developing robust business plans, design thinking, innovation, financial planning, market research, and business modeling.
- Focused Group Interactions: Participants were divided into seven specialized groups—Agritech, Fintech, Handloom/Handicraft, Tourism, Renewable Energy, IT/ITES, and a mixed group. Each group engaged with industry leaders from organizations such as NESAC, NECTAR, AMTRON, RBI Incubation Hub, AIC-SELCO Foundation Guwahati, NIFT Shillong, and NIT Shillong.
- Funding Opportunities: Representatives from NEDFi and SIDBI provided key insights into funding opportunities within the startup ecosystem.
- Practical Exercises: Facilitated by Mr. Akash Shukla from Google Startup and Mr. Dewansh Poddar from FITT, IIT Delhi, participants engaged in business modeling exercises, pitch deck preparation, and ideation workshops.
- Pitching and Mentorship: Enthusiastic participants pitched their innovative ideas, with 15 standout ideas selected for further refinement and presentation.
From the very beginning, the enthusiasm for pitching new ideas was palpable. The diverse array of innovative concepts addressed real-world challenges, showcasing not only originality but also a deep understanding of the North East’s unique needs and potential. Industry experts and seasoned entrepreneurs shared invaluable wisdom, emphasizing resilience, adaptability, and continuous learning.
Interactive workshops on business planning, marketing strategies, financial management, and technology integration offered participants practical knowledge to turn theoretical concepts into actionable plans. Networking sessions fostered collaborations, building a supportive community of like-minded individuals that will be a cornerstone of their entrepreneurial journeys.
The bootcamp’s success underlined the region’s rich cultural heritage, abundant resources, and untapped potential. Participants demonstrated how these strengths could be leveraged to create impactful businesses through sustainable practices, cultural heritage preservation, and technological advancements.
IIM Shillong continues to support pioneering entrepreneurs as they build businesses that not only succeed but also uplift the region and its people. The institute is excited to launch a startup cohort soon, welcoming participants as incubatees and continuing to nurture their entrepreneurial endeavors.
