Prof.Gautam Jain on EDC, Idea Summit and Support for Entrepreneurs

Got a business idea? Here is an opportunity to make it come true and get noticed. 

Great things in the world begin with a great idea and in the case of entrepreneurship; it would be even more right to say so. While there are institutes supporting new businesses in many ways, there are few that go the length in nurturing

good ideas which are the beginnings of bigger things to come. 

Prof. Jain, please tell us more about the Ideas Summit announced by MICA-EDC. How is it different than other b-school competitions held across the country?

The main objective of this Summit is to identify creative young minds with breakthrough ideas in any sector in communications (detailed list on their website) and help them by offering further opportunities. We are not aiming at just identifying the bright talent but are also committed to help see the best ideas turn into entrepreneurial realities.

The best ideas will be given all the support needed like VC support, Com-cubator facilities etc. to help them grow and succeed. Also, this competition will help the communications sector discover something it can call its own. All the other competitions across the country are about general business plans, which leave little scope for communications specific businesses to get attention.

So if someone has had a business idea but has never done anything about it, are they eligible to participate?

The ideas that are received will be short listed on the basis of their originality, innovativeness, and uniqueness. Hence it may not necessarily be at the implementation stage nor conceptualized as a business model. As long as it is original and identifies values it may deliver as well as the people who are seen benefiting from the Idea, it stands to gain at the summit.

Aspiring entrepreneurs, working professionals with new ideas, founders of innovative ventures seeking support and even incubates and researchers at various incubation centres should participate. 

What do the participants stand to gain out of the Summit?

The top fifty ideas will be invited for presentation before a panel of experts from industry, venture capitalists, academicians and innovative entrepreneurs.

The three best ideas will be offered a cash reward of Rupees fifty thousand, thirty thousand and twenty thousand respectively while the top five participants will be offered incubation at the Com-cubator. The rest of the shortlisted candidates from stage 2 would be offered to appear for PGPCME Admission Process without the application fees. Apart from the above, there will also be support for corporate partnership and funding through venture capitalists. 

What kind of a response are you expecting for the Ideas summit and why?

We expect tremendous response for the Summit. Our country has no dearth of people with interesting ideas. All they need is a platform and some backing and encouragement. We will offer the same. We also require the support of forums like Yourstory to popularize the summit so that it can reach the maximum audience.

Tell us more about MICA-EDC and its flagship course PGPCME

Set up with the support of Department of Science and Technology (DST), Government of India, with the purpose of fostering entrepreneurship in the communications driven initiatives as well as promoting corporate entrepreneurship in the communications industry, MICA-EDC is a centre of excellence of MICA, which conducts post graduate programmes in the area of communications management.

PGP CME is a path-breaking PG level diploma designed to create, groom and develop young leaders who wish to set path breaking trends in the communications sector. In its third year yet, the course has already been challenging the traditional model of management education in many ways through the inclusion of its Continuing Industry Internship Programme and its Venture Incubation Program. (more details at www.mica-edc.org)

Additionally, MICA-EDC offers business support services including skill assessment, market research and profiling studies and publications specific to entrepreneurship in the areas of communications, entrepreneurship, leadership and innovation. It also organizes national seminars and conferences. 

What has been MICA-EDC’s role in supporting entrepreneurship in the country?

In addition to running PGPCME, EDC has set up the Com-cubator a one of its kinds Communications Technology based Business Incubator consisting of industry mentorship and model service centre, well designed offices for conducting business and communication technology support facilities like an Idea lab, Media & Research labs, film studio with post production facilities, IMAC lab for animation and graphic design, web support, Legal, Accounting, and Financial support etc. that will help students in launching and running their own ventures. 

We have also been working towards the general development of an entrepreneurial climate in the country, organizing several successful FDPs in order to improve the quality of entrepreneurship education in the country, the last of which was held in the month of May, 2009.

EDC also successfully hosted the International Entrepreneurship Forum (IEF) in December, 2008, which was attended by delegates from all across the world. We also engage ourselves with work on the development of social entrepreneurship.

Interested candidates can download the application form from www.mica-edc.org, and send in the description of their idea in the prescribed format.