As a part of the initiative of the Ministry of Education, Innovation Cell (Government of India) Institution's Innovation Council, Amity Business School, AUMP organized a workshop on STARTUP – Growth in Adversity: Strategies, Tools & Tips for Startup Growth Resilience
Workshop on January 16, 2024.
A) The objectives of the workshop were -
1. To make the students aware of the importance of Startups and innovation.
2. To develop an understanding of the role of Startups in Economy and Employment.
3. To make the students aware of the process of initiating a Startup.
3. To develop Practical entrepreneurial skills & knowledge to practice resilience and come back from failure.
Dr. Shaifali Garg, Associate Professor, Amity Business School, Amity University Madhya Pradesh gave the welcome address and spoke about the significance of Startup as a career growth opportunity.
B) The Resource person for the workshop – Dr. Rashmita Singh, Assistant Professor, Amity Business School, Amity University Madhya Pradesh.
At the outset, the students were welcomed and made aware of the objective of the workshop and the initiatives of the Innovation Cell (Ministry of Education, GoI).
The important aspects covered by the speaker during the workshop were
1. The concept of Startup
2. The types of Startup Growth Strategies
3. Market Expansion strategy
4. Stages of the Startup Science Lifecycle
? Discovery
? Validation
? Efficiency
? Scale
? Sustain
? Maintain
? Decline
5. Strategic Mistakes that Kill a Startup
? Market Penetration Before Product/ Market Fit
? Market Development / Product Development Before Market Penetration
? Diversification Necessary
? Prematurity
6. How to avoid the critical scenarios of Failure.
Take away:
- Understanding of the contribution of Startups to an economy’s growth
- Getting an insight on types of innovation and Startup Growth Strategies
- Understand the Market Expansion Strategies
- Develop an understanding of the Startup Science Lifecycle
- Understand Strategic Mistakes that kill a Startup
- Difficulties to be overcome to become a successful entrepreneur
The number of participants in the workshop was 55. The queries of the students were mainly aimed at the process and Government schemes meant for Startups and Innovative Entrepreneurs, which the speaker handled satisfactorily. The overall feedback of the workshop was very positive.
Few snapshots of the workshop :