August –September 2013
Table of Contents TOPIC
PAGE NUMBER
Mama, I want to be an Entrepreneur !
2-6
Budding Entrepreneurs Of IBS, Hyderabad
7-11
Elon Musk: A Star in the Making
12-16
Mergers and Acquisitions: A Saviour
17-21
Opportunities in the Cold Storage Industry
22-25
Technology and It’s incre-asing Importance
26-30
August –September 2013
Mama, I want to be an Entrepreneur! BY NIKITA KIRAN
“Watson, Come here. I have something
An entrepreneur is someone who sees
to show you” - Little Graham calls his
a gap in the society and bridges it,
best friend. “What is it?” “I have just
someone who makes a difference. A
achieved what uncle David Bell thinks
kid still thinks his nose would grow
apparently, is impossible!” An increas-
an inch longer every time he lies, that
ingly impatient Watson howls “Tell me
there still is a
already, will you?” “You remember
chance
your great grand military dad you
catch
wanted to hear war stories from? The
golden snitch
one who lives across the sea? I think i
in the quid-
may have something that can bridge
ditch match
the gap between the two of you. I call it,
faster than potter himself and that
The Telephone.”
Jetsons still fly their way through
to that
mega air traffic. That the world is still a wonderland with endless number of possibilities, where they hope to grow into an Alice tomorrow. They do not know what impossible is. They do not know what improbable is. Sky is their limit. There are so many things to be done. So many places to
August-September 2013
go, so many friends to make, so many
M.B.A. “Main Bewakoof Aadmi”, is
chocolates to eat, So much fun to have.
translated as “I Am stupid”. My
And that isn’t the best thing about it.
mind is a blank canvas. I drew num-
The best thing is, It is all POSSIBLE.
bers, but the accounting professor
Anything, everything can happen. And
scolded me. He wants me to write
they CAN. No shackles of societal
them. Yes, I don’t understand ac-
norms bind their wings to the ground.
counting, I don’t understand what
Their thoughts are free as a bird. Their
they teach me in class. I know i want
mind is vast as the universe and beyond. Unfortunately the education system around the world permanently
to make money. I know how to make them. I want to make a difference. I want to think beyond Kotler. I want etches into the young unmolded minds
to think beyond I M Pandey. Because
the possibility of becoming a lawyer,
I am Myself. I don’t want to become
doctor, engineer, artist, anything but an
the next Steve Jobs or the next Gali-
entrepreneur reducing their vicinity for
leo. I want to become the first ME.
imagination. “There is no such thing as
You teach an M.B.A student to go to
entrepreneurship because my teacher
a company, get a job. But wait! Who
didn’t teach me about it.” “How do i go
started that company again?
about it? I don’t know. My dad says scientists are the Nobel ones. My father is a scientist. I will be a scientist.”
But just imagine if every one were to embrace entrepreneurship in childhood, there would be solution to
August-September 2013
to every problem the world faces now.
your kid to be independent. Tell them to fish for themselves not serve them on a silver platter. Give them limited resources. See how they use it. Give them 4 things-ice cream sticks, fevicol, paint brushes. See what they come up with. Ask them to dry clothes using materials form their school bag. Let their curiosity linger
This does not by any means is a suggestion to prioritise entrepreneurship in schools but at least give them the same status as other professions. Make them aware that this is something people do, the misfits, the outcasts, the Steve Jobs and the Bill Gates, the people who create Jobs. Lets not miss the opportunity of mak-
until it is satisfied by their own selves.
ing them aware, of incubating in them
There are early traits an Entrepre-
the Entrepreneurial bug. And then of
neur shows. One of them being Bipo-
finding and recognising the Entrepre-
lar Disorder. Also nicknamed the
neurial traits they exhibit. Because
C.E.O. disease. Steve Jobs had it. All
what do you know. One ignored child-
three C.E.O.’s of Netscape have it. .
hood and you might just miss on a tril-
If your kid has one too, let it be. He is
lion dollar venture, a million new job
likely to make you popularly known
opportunities and a priceless change in
as the trillion dollars worth C.E.O’s
the society you were coveting. Teach
Parent, in future!
August-September 2013
Let your kid stretch his wings. Let him choose the direction he wants to fly in. And One day when he will look back there shall not be a single soul on earth because they are all flying in different directions towards infinity, towards limitlessness, watching, smiling at the celestial mirror of a problem free world. Just one thing. As a kid sky was a limit for you. Now pause. And then whisper to yourself but with determination.
It still is !
August-September 2013
Budding Entrepreneurs of IBS, Hyderabad BY SREENY VALLABH
The Placement season is fast approach-
and start playing in a bigger arena
ing our campus and everybody is
altogether. In a nutshell, we too have
geared up for the D-Day, but there are
our own mini versions of Bill Gates,
a select few in the campus who are
Steve Jobs, Jeff Bezos and many
leaving no stone unturned for their own ventures. Yes, you heard it right; IBS has its own bunch of dreamy eyed entrepreneurs who work day in day out
more. Much like our US counterparts who started off their ventures on their ventures. This does not mean
in garages and colleges, our desi boys
that they don’t care about placements;
also have kicked off their dream pro-
instead they want to prove their own
jects in our very own campus.
mettle. Some of them will pass on the
There is a well known adage which
legacy to the upcoming student genera-
goes by “Where there is a will, there
tions, while some may carry their busi-
is a way” but off late this has
ness model onto a completely new level
changed to “Where there is a need,
August-September 2013
there is a way” and this way is being led by our own set of Entrepreneurs, who have understood the needs in our
their business. Mr. EUCLEAN DRYCLEANING SERVICES
campus and have very well kicked off their ventures. Dr. APJ Abdul Kalam had once told that “A dream should be one which keeps you awake and never lets you sleep and makes you work hard to make it a reality”; well our
IBS being a business school requires its students to be prim and proper always. Guest lectures, business discussions and placement talks require everyone to be suited up, identifying friends here in campus are implement-
the need of students for a dry clean-
ing similar ideologies and working day
ing service for their suits and winter
in day out for their ventures. When
wear. Mr. Euclean was established in
asked, they all would say “Where else is
September, 2012 by Eugene Cyril,
a better platform to kick start”. Clearly
who took the onus upon him to get
the campus is a livewire and bustling
the clothes dry-cleaned. From then
with a lot of activities, in fact it pro-
on there is no turning backwards, the
vides the best platform for a start up.
venture went on to become a grand
In this article, we bring out some of the
success and continues to be the same.
ventures established in the campus and
Currently, it is looked after by two
the way in which they are propagating
more budding entrepreneurs, Ankit
August-September 2013
Dhariwal and Vibha Sharma. They
-cue of students, which charges a
have carried forward the legacy by in-
nominal fare for its cab service espe-
troducing new services and special ser-
cially to airport and railway station
vices and have created a great goodwill
which are the most sought after
for themselves. Other ventures which
places by students. Founded by
were on the same lines could not sus-
Prakshal Lunawat and his friend, a
tain for reasons unknown. Mr. Euclean stands out and stands on top of the en-
Parivahak cabs service has created a market for itself with its services to trepreneurial ventures at our campus.
students
and
faculties
equally.
Clearly it stands as a winner catering to the needs of students. PARIVAHAK CABS The location of our campus is one of
AR PRODUCTIONS
the biggest drawbacks for our students
Entertainment is the mantra in every
and especially in these days of inflation,
campus and movies are one of the fa-
travelling has become a costlier affair.
vourite genres of students. AR Pro-
The need for a cab service was essential
ductions is one such establishment
when the local cabs and services took
which has taken up the responsibility
undue advantage and charge exorbi-
of entertaining not only the students
tantly. Parivahak cabs, came to the res-
of IBS but also outside the campus.
August-September 2013
The Production house has got itself few
one such venture which satiates the
accounts and campaigns outside the
food craving population of IBS. Serv-
campus and also has become profes-
ing on the platter authentic Hydera-
sionals in their approach. Founded by
badi Paradise Biriyani, this venture has become a huge success amongst students. People wait for the very day when Authentic Delights promises to serve the taste buds. Founded by Anurag Agarwal, a foodie and adventure freak himself, he makes sure
two friends Arnab Banerjee and Rohan bhimsaria in December 2012, AR Production was initially into movie making, but lately they have extended their services with professional promotional partners. This is one venture to look out for which is set to make it big in the future not only in campus but on a na-
that the food enthusiasts are satisfied
tional level.
in the campus and continue to be.
AUTHENTIC DELIGHTS
The founder looks forward to begin his own chain of restaurant and
Food is the greatest craving for stu-
amuse people with his amazing taste
dents and especially in the city of Hy-
sensibilities.
derabad which is known for its taste, food is a major attraction. Living on the same lines, Authentic Delights is
August-September 2013
GOOD LUCK SOLUTIONS Founded by Ankit Dhariwal and
Founded by four friends Swati Sharma, Sreeny Vallabh, Ashutosh
Prateek Tyagi, this is the mini version of Almamater.com. Ankit Dhariwal has already created a good will for himself with Mr. Euclean services and is carrying forward his legacy with Good Luck solutions which provides customized apparels for corporate and Educational institutions. They have strategically positioned themselves outside campus and have already bagged in consignments from IMT, Hyderabad and Axon Lim-
Pandya and Nikhel Bansal. They plan to take forward their venture on a national level.
ited. They are one bunch of entrepre-
The above mentioned ventures are
neurs to look out for who will surely
some of the few successful ventures
turn heads.
and have made a mark for themselves in the campus. Entrepreneurship is the core essence of all these
BLITZKREIG MARKETING SOLUTIONS
ventures. Whether or not they con-
In a campus bustling with activities,
have a strong streak to make mark
marketing is one activity which is re-
for them in this highly competitive
quired to catch the eye of the audience.
world where one crushes another to
Blitzkreig is a marketing solutions pro-
climb the ladder of success. In such a
vider which takes care of the entire
situation, they make a mark for
marketing
building.
themselves by moving away from the
Blitzkreig ensures that a Brand Equity
herd and leading a whole new pack
is created with its marketing solutions.
of wolves.
and
brand
tinue their ventures, but all of them
August-September 2013
Elon Musk: A Star in the Making... BY ANUP S YEOLEKAR
There is no point in denying that we all
some Bollywood fans see it in Rancho
admire Entrepreneurs, the fact that you
of 3 Idiots. But whatever the image, it
are holding this magazine & reading
really
this article supplements that. But this is
“FREEDOM TO FOLLOW YOUR
a title we cannot give ourselves. It is a
HEARTS WILL..” Living an entre-
means
only
one
thing
title to be achieved and truly awarded by the masses. Today the word Entrepreneur means different to different people. For diehard apple fans its synonymous with
preneurs’ life is like living the life of a monk. Life filled with perils & spent constantly in search of the ultimate opportunity. And in this journey a role model or a Steve Jobs. For some it’s Sir Richard
north star to align our directions is
Branson of virgin group of companies.
always helpful. But while searching
Some see it as Dhirubhai Ambani. While
for a role model we generally tend to
August-September 2013
We glorify the heroes of the past and ne-
ia. After earning a bachelor’s degree
glect the ones in making. We tend to
in economics and physics a year later
miss the living legends amongst us with
he shifted his focus on the three most
whom we share the planet. One such ris-
important problems in his words “one
ing star in the field of entrepreneurship
was the Internet, one was Clean En-
is Elon Musk which we cannot afford to
ergy, one was Space.”
miss.
On the internet front when he moved to California In 1995 he started Zip2, which provided online content publishing software for news organization. In 1999, Compaq acquired Zip2 for US$307 million in cash & US434 million in stock options.
Born (28 June 1971) & brought up in South Africa, to an Engineer and a Canadian born mother from New York, he
Further he co-founded X.com, in March 2002, a financial services and email payments company.
showed exceptional talent from childhood. His father incepted in him the love for technology. He bought for him a computer at age 10 which he learned to program all by himself and later by age 12 showed his entrepreneurial flair by developing a space blaster game and selling it. At 17 he immigrated to Canada & left in 1992 to study business & physics on scholarship at University of Pennyslvan-
Later, it merged with Confinity and further changed to Paypal, later Paypal too was acquired in 2002 by ebay
August-September 2013
for US$1.5billion in stock, of which
-onal International Space Station, ef-
Musk the largest shareholder owned
fectively replacing the Space Shuttle.
11.7%.
In 2010, SpaceX became the first
He entered in the field of space exploration with his third venture SpaceX (Space Explorations Technologies) in
commercial company to successfully recover a spacecraft from Earth orbit; a feat previously only achieved by
2002, of which he is currently the CEO and Chief Designer. The sole objective was to build the worlds most advanced rockets & spacecraft’s so that extending human lives to
other
planets becomes
eas-
ier. He
de-
signed Falcon 1, the first
pri-
vately developed liquid fuel rocket to reach Earth orbit, as well as the Falcon
a few nations. In 2011, the company started work preparing the spacecraft to carry astronauts under a NASA award. The first manned flights are expected in 2015.
9 rocket and Dragon spacecraft. SpaceX
Currently working as CEO and head
made history when its Dragon space-
of product design at Tesla Motors,
craft became the first commercial vehi-
Musk oversees strategy for the all-
cle in history to successfully attach to
electric American car company he co-
the International Space Station on May
founded with the intent to design, en-
25 , 2012. . In 2008, NASA awarded
gineer and manufacture affordable
SpaceX a $1.6 billion contract for 12
electric vehicles for mainstream con-
cargo flights to and from the Internati-
sumers. He currently guides develop-
August-September 2013
-ment of the Model S, the world’s first premium electric sedan, and Model X, an SUV/minivan. Previously, he spearheaded design of the original Tesla Roadster, the first battery electric sports car. Musk developed the business and sales strategy to deliver Tesla vehicles to consumers worldwide and forged partnerships with Daimler and Toyota, through which Tesla Motors sells elec-
So, what is it like to work with him?
tric powertrain systems to those compa-
Here is a first-hand experience by
nies.
Dolly Singh, former head of talent acquisition at SpaceX, “..Working with him isn’t a comfortable experience; he is never satisfied with himself, so he is never really satisfied with anyone around him. He pushes himself harder and harder, and he pushes others around him the exact same
His current passion is Hyperloop a new form of transportation which would allow travelers to commute between the cities in 30 mins or less. It would be time saving, cheap & environment friendly due extensive use of solar power. The major principle proposed to be used
way. The challenge is that he is a machine and the rest of us aren’t. So if you work for Elon, you have to accept the discomfort. But in that discomfort is the kind of growth you can’t get anywhere else and worth every ounce of blood and sweat..”
here is of partial vacuum to reduce
Another experience from John Cor-
aerodynamic drag.
mack “A couple of weeks ago I was
August-September 2013
trading some emails with Elon Musk from SpaceX, and I was saying I'm excited about these virtual reality things and other stuff, and he kind of hits me with this 'if it's not on the path of colonizing Mars or making the money to fund colonizing Mars, then it's just not that important.' He's making me feel guilty for not thinking on an planetary scale. Elon is serious about all that stuff.� Some consider him as the next Steve Jobs. But who knows, he might be the better Steve Jobs.
August-September 2013
Mergers and Acquisitions– A Saviour BY NEHA AGARWAL
“Mergers and acquisitions� has become
-ing, selling, dividing and combining
widely popular word these days. Be it
of different companies and simi-
Verizon and Vodafone, Blackberry and
lar entities that can help an enter-
Fairfax Financial Group, Microsoft
prise grow rapidly in its sector or lo-
and Nokia, every company is in a rat
cation of origin, or a new field or new
race to acquire the company which
location, without creating a subsidiary, other child entity or using a joint venture. From a legal point of view, a merger is a legal consolidation of two companies into one entity, whereas an acquisition occurs when one company takes over another and
would be best suited to the needs and demands of the market. Both the parties get benefitted from this buying and selling. Mergers and acquisitions is an aspect of corporate strategy, corporate finance and management dealing with the buy-
August-September 2013
completely establishes itself as the new
fee of $157 million, which increases
owner (in which case the target com-
to $262 million if BlackBerry signs a
pany still exists as an independent legal
definitive agreement before backing
entity controlled by the acquirer).
away. The initial offer is pending completion of due diligence, and it
Blackberry and Fairfax
gives BlackBerry some weeks to seek
Blackberry, once the largest Smartphone seller, agreed in principle on 23
additional offers. The beleaguered
rd
handset vendor announced recently
of September, 2013, to be acquired by
that it would be laying off 4,500 em-
Fairfax Financial, a Canadian Insur-
ployees amid losses of almost $1 billion in the most recent quarter and a drastic slowdown in demand for its latest-generation devices. Fairfax is still trying to raise the financing for the deal from BofA Merrill Lynch
ance Company, for $9 a share in a deal worth $4.7 billion in US dollars. Fairfax Financial is also sometimes called The Berkshire Hathaway of Canada. It is a holding company whose pri-
and BMO Capital Markets and is not
mary business is in insurance. It is also
obligated to follow through on an ac-
blackberry’s largest shareholder own-
tual definitive agreement.
ing about 10% of the company’s com-
Looking at the deal, it is good enough
mon shares. The deal includes a break
August-September 2013
for Blackberry. It gives them an excel-
the United States' largest mobile op-
lent opportunity to go private, out of
erator, handing it fresh firepower to invest in its mobile network and fend off challengers in a tough market that is fast becoming even more competitive. The code name assigned to the deal was Project River. Verizon was Hudson and Vodafone were the Thames referring to rivers in New York and London. Under the terms,
the public eye and try to reshape itself and see if they can go forward as an enterprise focused company. The company is in a very bad shape right now. Based on the company’s disastrous earning warning, a deal had to happen. Let’s pray and hope the Smartphone maker gets itself out of this deflating
Vodafone will get $58.9 billion in
balloon.
cash, $60.2 billion in Verizon stock, and an additional $11 billion from
Verizon and Vodafone Verizon Communications agreed on 2
smaller transactions in a deal that is nd
due to close in the first quarter of
of September, 2013, to pay $130 billion
next year. The deal will become the
to buy Vodafone Group out of its U.S.
third largest announced deal in the
wireless business, signing history’s
world after Vodafone's $203 billion
largest corporate deal announcement.
takeover of Germany's Mannesmann
The deal in cash and stock will give
in 1999 and AOL's $181 billion ac-
Verizon full access to the profits from
quisition of Time Warner the follow-
August-September 2013
-ing year.
-tantially
According to Verizon, they are reducing their debt level which will enable the company to be very robust and take
all of Nokia’s Devices &
Services business, license Nokia’s patents, and license and use Nokia’s mapping services. The rationale behind the deal is to secure the Windows Phone ecosystem, as well as accelerating Microsoft's phone market share. Under the terms of the agreement, Microsoft will pay EUR 3.79 billion to purchase substantially all of Nokia’s Devices & Services business, and EUR 1.65 billion to license Nokia’s patents, for a total
opportunities if they arise. There's go-
transaction price of EUR 5.44 bil-
ing to be a burst of rocket fuel in the Verizon engine as a result of this transaction. However, the addition of a massive new debt load on Verizon's books, may tie the company's hands on major investments for some time as paying down its debt should be a priority. Microsoft and Nokia
lion in cash. Microsoft will draw
Microsoft Corporation and Nokia Cor-
upon its overseas cash resources to
poration recently announced that the
fund the transaction. The transac-
Boards of Directors for both companies
tion is expected to close in the first
have decided to enter into a transaction
quarter of 2014, subject to approval
whereby Microsoft will purchase subs-
by Nokia’s shareholders, regulatory approvals and other closing condi-
August-September 2013
-tions. According to great people, Nokia died because it didn’t innovate. Through this strategy, Nokia will try to regain back its market share. That is why it is rightly said “To not innovate is to die.”
August-September 2013
Opportunities in the Cold Storage Industry BY SUMIT WADHWA
-estments in retail, the market is becoming a hot cake for exporters. India loses almost 57% of its harvest as waste. The Cold storage industry, an upcoming unorganized sector is fast catching up to improve the scenario of wastage in Indian food industry. With exports segment on the rise, the Cold Storage industry is an open field for Entrepreneurs to play with. Indian economy is in the eyes of the
Realizing the Opportunity
world and investors per se with a weakening Rupee and a sinking economy.
Entrepreneurs always perceive the
The situation howsoever bad for one
things differently and that is the rea-
may be a complete different one for the
son they often become successful
others. The imports being costlier for
with simple things which are per-
Indian economy has put forth a situa-
ceived entirely in a different manner
tion of sorts, but at the same time it has
altogether . For e.g. Starbucks, it has
opened avenues in the exports end. The
completely changed the way in which
export sector is experiencing a boom
a normal coffee is consumed. These
and with FDI being allowed 100% inv-
are the ways in which entrepreneurs
August-September 2013
change the game. They look at things in
uits and vegetables. On an average,
different angles and present to the
India produces 85 million tonnes of vegetables and 45 million tonnes of fruits annually. But overall contribution of the Indian economy is bleak as the country losses about 30 to 40 per cent of its fruits and vegetables due to
world the same thing in an entirely new package which is welcomed by the consumers. They start with limited resources and differentiate their businesses through their personal efforts. If they move and run the business right, they can gain a foothold in the market
improper cold storage facilities. As
before they have to go head-to-head
per the reports from ‘Opportunities
with much bigger competitors.
in Cold Chain – emerging Trends and
Cold Storage: The Indian Scenario
Market Challenges’ released during a national summit on cold chain also
The Cold storage industry is an upcom-
mentioned though India produce 147
ing industry which is pretty unorgan-
million tonnes of vegetables in 2011,
ized currently but has huge potential in
the country has cold storage capacity
it when organized. Currently there are
available for only 9 million tonnes,
many small players who are charging
leading to huge wastage.
and playing according to the economies
Cold chains market in India is at a
of scale which has made it difficult to
nascent stage and is available for only
sustain for a long time. After China, In-
10% of agricultural produce. The co-
dia is the second largest producer of fr-
August-September 2013
-ld storage industry in India is esti-
-mal in many parts of the country. At
mated to be close to INR 125 billion
present, 90% of market is dominated
which is expected to register a magnifi-
by private sector players. Further,
cent CAGR of around 25 to 26 per cent,
traditional networks of traders in
which will make the value of the Indian
fruits and vegetables are strong thus
cold chain industry to reach at an aston-
players are currently focusing on
ishing figure of around INR 400 billion
piece meal operations rather than cre-
by 2015 and to INR 640 billion by
ating a complete chain right from
2017.The industry works on hub and
farm to retail.
spoke model and is primarily concen-
Reasons for pursuing the industry Opportunity seldom knocks the door, and now is the opportunity to get into an uncontested sector which is highly entrepreneurial. Similarly, recognizing the key drivers in the cold storage industry at the right time will let you be the first mover and will get you all the possible advantages. Some of the key drivers which should be identified
trated in few states like namely Uttar Pradesh, West Bengal, Punjab, Gujarat
and materialized are; •
Changing consumer trend towards
etc. Over 65 per cent of the cold storage
convenience and processed foods
capacity is confined to UP and WB only
indicate a future for greater stor-
whereas majority of Indian states lacks
age capacities
investments from government as well as
•
Government of India’s plan on set-
private players. Thus, the presence of
ting up 30 mega food parks this is
modern cold chain technology is mini-
likely propel demand for cold stor-
August-September 2013
facilities th • As per the 11 five year plan assistance would be provided by the government agencies, such as the National Horticulture Board, Agricultural Processing Food Products Development Authority, National Cooperative
Development
Corporation
and state governments, under their respective schemes
this goal, etc. Even though this is a almost a Blue ocean, there are a number of hurdles to get into this industry especially high capital investments, power shortage and uneven distribution of storage capacity. Entrepreneurs are always risk takers and with every risk the probability of increased profitability also increases. The time is now to get into the field as there is less competition and huge potential. The future is bright in this sector and returns are sky high. The right strategy will do the right magic which will bring a new means of income to India and also put India in the A list of com-
•
Schemes have been planned to get financial support in the form of grants which for the general areas of India would include 50% of the total cost of setting up plants and for North-eastern areas of India would include 75% of the cost
•
Indian pharmaceutical companies are increasingly seeking opportunities to supply drugs to the world market, thus cold-chain management practices will be required to achieve
panies in the world.
August –September 2013
Technology and It’s Increasing Importance BY YUKTI TANEJA
M.A. Rosanoff: “Mr Edison, please tell
sit in light when it’s dark outside and
me what laboratory rules you want me
during occasions we lit the whole
to observe?”
world in magnificent colours. His one idea showed us the “light”
Edison: “There ain’t any rules around
Think of most irritating, vexing and
here. We’re
frustrating problems and then think
trying
to
accomplish
somep’n!”
of technology-What it is doing and
These are the words of the iconic light bulb of new ideas, Edison, who is said to have “Innovated the Technology.”
what it can do to solve these issues. This is how technology expands the scope. This is one word which saves our energy- “one-time investment, entire life comfort.” Because of his great invention, we have
“Why join Navy when you can be a
competing firms in the market, we can
Pirate?” - Steve Jobs
August-September 2013
Don’t these words point at something? An Entrepreneur! By definition it means, “A person who organizes and manages any enterprise, especially a business, usually with considerable initiative and risk.” In a common man’s language, “A person who knows no rules, doesn’t live a dogmatic life and to whom ideas come
don’t just lie down and relax, instead
inkling.”
do something wonderful because the road of technology is “bumpy” and it requires constant advancements.” Not an entrepreneur but an innovator 28-year-old Indian, alumni of IIT Bombay and a Researcher at MIT Sloan, Pranav Mistry has developed “SIXTH SENSE” technology which is a usable gestural interface device
Steve Jobs, the greatest Entrepreneur of all time, followed just three simple rules “Imagine, Innovate, Invent” This led him to start a community in itself, APPLE. He had just one vision, “Computer for the rest of us” which paved the way for the PC Revolution. With his endurance and perseverance, he was able to advance the immobile PC to a movable iPad, iPhone. He believed that “After the 1st step of success,
that integrates the virtual world into real world. It has a pocket projector,
August-September 2013
colour coded gloves and a wearable
navigation and maps, drawing a
mini-camera. The projector uses physi-
magnifying glass symbol opens the
cal objects around us as interfaces and
map app. He is an innovator who
converts them into touch-screen and
made life simpler and easier by connecting the dots. “As long as you’re going to be thinking anyway, think big!” The biggest search engine, the biggest invention that paved way for many
budding
entrepreneurs,
Google, was started in 1996 by Larry camera is to recognize hand gestures. With this technology, we can access our e-mails, contacts, read newspapers, and all that we are supposed to sit and do. Like for emails, when we draw “@” symbol, the camera recognizes this movement and immediately our email opens. Similarly, for taking pictures, we only need to move our hand in a man-
Page and Sergey Brin while working
ner as if the picture is really being
on their project. Their goal was to
taken and the camera clicks it itself.
create a library which is capable of
This is because the projector, camera
storing the entire world’s informa-
and colour coded gloves are all linked
tion and beyond, and wanted Google
through sensors which captures our
to be 3rd portion of every human be-
gestures and responds accordingly. For
ing’s brain. As known to all, Google
August-September 2013
offers several web apps that store our
2. Google Adwords: An app that
data in a systematic manner, Google for
maximizes profit when your products are sold online with a
popular
keyword that’s registered
with
Google adhering to SEO (Search Engine Optimization) principles. mobile synchronises the data with your
3. Google Moderator: A service that
online account saving our skin from
ranks users opinion on issues, ques-
forgetting someone special’s birthday
tions and suggestions making the
or anniversary or some scheduled
place more transparent. This can be
meeting or appointment. But Google
used by entrepreneurs to know the
isn't only about “search engine”, it has
most sought after thing by users and
carved a new definition for technology. Ever thought how, if, Google can make you earn money? That’s possible with a wide array of apps of Google 1. Google Adsense: It’s a revenuesharing app for all types of websites that places ads, videos and games on your website, targets frequent visitors and for every click on those ads,
can also delve into polling to know
your website earns money.
their responses. Just like Barack
August-September 2013
Obama’s campaigning team, before elections, used this service to answer questions from public. These are just a few very popular apps by Google from an endless list that it offers to us. It not only makes life simple for a service-man but also opens a great path to the budding entrepreneurs. Everything is going online in the 21st century, so it’s very important to be well-versed with technology, to move at par with tech-savvy people so that when demand is there, supply doesn’t lag behind! “Formal education can make you a living; self-education will make you a fortune.”
August-September 2013
The Editorial Team of L’Entrepreneur : Neha Agarwal, Sreeny Vallabh, Shristi Gupta
Akash Roy, Anup S Yeolekar, Nikita Kiran, Sumit Wadhwa, Yukti Taneja
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