The session on “how to initiate startups its legal and ethical steps” was conducted by Cambridge Institute of Technology and ISBR Business School was one of the participant members.
Objectives:
- Educating the young minds.
- Giving them knowledge about the industry.
- Motivating young entrepreneurs.
- Educating on legal and ethical aspects of a start-up.
Session:
The session was conducted online mode on zoom meetings. It started at 4:45 pm. The session was started by the HP Khincha moderator. He started with the introduction about the session and the Guest speaker Mr. Kiran Bettadapur. Then speaker took over the session and started to give his introduction. And also the importance of a start-up and its legal and ethical aspects. He explained how start-ups are growing in India and how start-ups are a very important aspect of the country’s development. Then he went on and explained about different start-up phases such as the Tinkering stage which includes idea generation, more serious scrutiny, and doing it Part-time after work. The second stage is a commitment towards the idea, naming the start-up, and core team, Revenue is flat at this stage. He also explained that it is made or break situation in this stage. The third stage is Growth Inflection which includes business model, More revenue and customers, rapid hiring, cash flows, and Pivot. The fourth stage is Surging growth where the growth is accelerated, there must be client retention and a lot more business challenges. Further, he also explained the 3P, 3S, and 3D of a start-up. 3P includes Productivity. Profitability and predictability. 3S includes Scalability, sustainability, and survival. 3D includes DE-risking, Decision making, and Digitalizing. He explained all the important Fundamentals of the start-up. The last few minutes were given for Questions from the audience. And the session was ended with a thankyou note by the moderator.