Bengaluru: A restobar, a furniture-selling app, a Rajasthani restaurant... even before the marketing students could complete pitching these entrepreneurship ideas, RK Misra, co-founder & president of Ecosystem Partnerships, Yulu, dismissed them. However, when a postgraduate diploma in management student pitched the idea of hydroponics at her father's farm in Nandi Hills, he took note. For the students of Ramaiah Institute of Management (RIM), it was a hands-on, experiential learning experience in entrepreneurship on Wednesday.
The fourth edition of Leaders on Campus, organised by the Times of India, was held at RIM, with Misra speaking about his journey in entrepreneurship. He went on to give tips to students aspiring to implement their business plans on the ground.
"Identification of a problem is the first and most fundamental principle of being an entrepreneur. If you provide a solution to a problem that everybody is facing, there will be a market for it. If you create something where there is no problem, nobody will buy it," he said.
Finding the problem comes with curiosity, he said, adding: "There's no magic mantra. Just be curious. We did not start Yulu to make money. We did not start it because we had a business plan and wanted to make it successful. We came in to solve the last-mile connectivity issue."
He advised the students to become entrepreneurs by interning at a startup for four months. "It's a very tough journey. At the end of it, 99% of people fail. So if you don't have a stomach for failure, it's very difficult. But if you're passionate enough about the problem, you will not mind failure. And by the way, when we hire, I always hire failed entrepreneurs. It's the only industry where failure is valued," he said.
BOX: Quote hanger with mug shot
"RK Misra has given valuable feedback and insights to the students regarding the challenges of businesses and the way you look at the success of an enterprise. This has generated a lot of interest among students in finding new venture opportunities. I am thankful to the Times of India for this collaborative engagement where we have been able to engage the younger generation under this platform, bringing the industry to the campuses."
— A V Arunkumar, professor and dean, Ramaiah Institute of Management.
"Success is when you make your life better. Significance is when you make others life better. If you are successful and significant, then it is fantastic."
— R K Misra, co-founder & president of Ecosystem Partnerships, Yulu
BOX:
Winners of entrepreneurship quiz
Name: College
Nandini Roy: Ramaiah Institute of Management
Sudhakara S: UVCE
Saumya Sonawane: Sri Sairam College of Engineering
Abhishek Dutta: Ramaiah Institute of Management
Syed Adnan: Ramaiah Institute of Management
Kamakshi N: Ramaiah Institute of Management Get the latest lifestyle updates on Times of India, along with
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