Behetar Padhai ke liye…. Kamai ! !




National Entrepreneurship Education Awards
Oct 25, 2008, @ NITIE Mumbai
Conducted by
NITIE Center for Student Enterprises




“Orientation for entrepreneurship has to start right from the schools. Teachers need to teach the role of entrepreneurship in national development in the schools. During college education students must be exposed to business development opportunities and must be trained towards creation of new enterprises…”
Bharat Ratna, Dr A P J Abdul Kalam, Former President of India

A Report on National Entrepreneurship Education Awards (NEEA), 25 Oct 2008, @ NITIE Mumbai

National Entrepreneurship Education Awards ( NEEA) are launched by NITIE Center for Student Enterprises (NCSE), a project promoted by DST – NSTEDB, at NITIE. The purpose of these awards is to recognize the efforts of academic institutions, distinguished faculty and student entrepreneurs in the country who are propelling through their efforts entrepreneurship development in the country. Towards this NCSE has taken a lead to launch National Entrepreneurship Education Awards.

Nominations for the awards are invited from all over the country. There is extremely good response in terms of the quality of the nominations that we have received. After multiple levels screening, following nominations in three categories are awarded the certificates of recognition and cash prizes for the awardees.

 Best Student Enterprise Award :

M / S. Naboo Solutions Pvt. Limited – An enterprise run by NIT K Suratkal Engineering College Student Entrepreneurs - Certificate and Rs.15,000 /-Cash prize
M / S. Hellointern – An enterprise run by IIT B Student Entrepreneurs - Certificate and Rs.8,000 /-Cash prize

 Best Faculty – Entrepreneurship Education Award : Certificate and Rs.5,000 /-Cash prize for each of the faculty members

Ms. Dr. P Jyothi, Associate Professor, Central University Hyderabad

Ms. Vasanthi Venugopal – Faculty Member Mount Carl College, Bangalore

Ms. Radha Iyer, Faculty member, SIMSR , Mumbai

 Best Academic institution – Entrepreneurship Education Award : Certificate of recognition…

Acharya Institute of Management and Sciences ( AIMS) Bangalore

Senior English Medium Commerce College (SIMCER) , Anand, Gujarath

Awards ceremony was presided over by Dr S D Awale, Director, NITIE and Guest of honours include – Mr DSN Murthy CEO Dhnush Infotech and Mr R Suresh, MD StantonChase International, Mr. Nemade, Managing Partner, Nikhil Comforts. Faculty members, education administrators, students, and entrepreneurs in a big number have attended the awards ceremony conducted at NITIE Mumbai on 25 Oct 2008 1700 hours.

These Awards are being conducted in association with DST – NSTEDB, Dhanush Infotech, Stantonchase International, Nikhil Comforts, Control Case, TiE and NeN, SIDBI Ventures. Note worthy point noted here is that – All the cash prizes for the awardees were sponsored by none other than the NITIE Alumni Entrepreneurs. Their spirit is commendable which is laudable.

Final Word:
There is need for developing entrepreneurship in the country. The task is gigantic taken the vast country like India and the sheer count of population. Few excellent institutions working for entrepreneurship development at the national level cannot be the solution for this gigantic problem. There is need to enable multitude of academic institutions, students, and teachers to commit for this task. There are people and they look for Prerana. If that motivation is provided, they jump in and take up this task and commit for the cause.

There is need to motivate large number of students, teachers and academic institutions in the country to commit for entrepreneurship as part of creating an entrepreneurial ecosystem which promotes entrepreneurship development in India. National Entrepreneurship Education Awards ( NEEA) are one such small and humble attempt in this direction. We look forward for your feedback from you all. We strongly believe that we will meet with success with the best wishes of the many of you in this journey.

Welcome to Next version of National Entrepreneurship Education Awards ( NEEA) due in Oct 2009. A hearty welcome to the awards ….

Dr T Prasad, Coordinator, National Entrepreneurship Education Awards ( NEEA)
Faculty Adviser, NITIE Center for Student Enterprises.

 

Entrepreneurship Education Awards 2008

Author: NITIE Center for Student Enterprsies ( NCSE)
 

A specimen deed of Rhythm Consultancy & Solution

Author: NITIE Center for Student Enterprsies ( NCSE)
 

Gallery

Author: NITIE Center for Student Enterprsies ( NCSE)
 

Student Enterprises in Management Education

Author: NITIE Center for Student Enterprsies ( NCSE)

Student Enterprises in Management Education:
An Indian Experience

Dr. T. Prasad, Faculty adviser, Entrepreneurship Development Center
Associate Professor, NITIE, Mumbai – 87

Introduction
Geese story of Management
The concept of ‘Student Enterprises (SE)’
What will be the future of SEs?:
Underlying idea of SEs
The benefits of the project
The role out plan for the project
The possible problems and coping mechanisms suggested

Introduction

This paper presents an outline of a teaching innovation titled ‘Student Enterprises’ which can be introduced in all B - Schools as part of regular academic courses. SE may be considered as an important teaching innovation for two reasons. One, such an exercise doesn’t exist to follow any where in the world. Second, the method will impact almost all aspects of management education as practiced world wide at present. A brief outline is provided for initial understanding.

Geese Guide to Management

The concept of ‘Student Enterprises’ is conceptualized based on the five principles of ‘Geese Guide to Management’. The philosophy, vision, mission for SEs are derived from the ‘Geese Guide to Management’.

1. As each goose flaps its wings it creates ‘uplift’ for the birds that follow. By flying in a ‘V’ formation, the whole flock adds 71% greater flying range than if each bird flew alone.
People who share a common direction and sense of community can get where they are going quicker and easier because they are traveling on the thrust of one another.

2. When a goose falls out of formation, it suddenly feels the drag and resistance of flying alone. It quickly moves back into formation to take advantage of the lifting power of the bird immediately in front of it.
If we have as much sense as a goose, we stay in formation with those headed where we want to go. We are willing to accept their help and give out help to others.

3. When the lead goose tires, it rotates back into formation and another goose flies to the point position.
It pays to take turns doing the hard tasks and sharing leadership. As with geese,
people are inter-dependent on each other's skills, capabilities and unique arrangements of gifts, talents and resources.

4. The geese flying in formation honk to encourage those up front to keep up their
speed.
We need to make sure, our honking is encouraging. In groups, where there is
encouragement, production is much greater. The power of encouragement is the quality of honking we seek (to stand by one's heart of core values and encourage the heart and core of others)

5. When a goose gets sick, wounded or shot down, two geese drop out of formation and follow it down to help and protect it. They stay with it until it dies or is able to fly again. They then launch out with another formation or catch up with the flock.
If we had as much sense as geese, we would stand by each other in difficult times as well as when we are strong.

Management students pursuing a common objective of beoming successful business professionals may be considered as the ‘Geesers’ across many B – Schools. The five principles of Geesers Guide to Management’ comes in to effect as a reality in the form of ‘Student Enterprises’ if systematically pursued.

‘Student Enterprises ’ ( SE) : An innovation in Management Education

B- School students during their two years of their academic pursuit are expected to launch their own businesses in the form of ‘Partnership / Limited companies’ and operate them with the exclusive purpose of ‘Learning business’. It is expected that a group of (maximum) ten students form in to a single firm with a capital of Rupees Ten lakhs ( say each student contributes one Rs. Lakh as share capital). Students Comapnies are similar to any other businesses which cater to various customer needs. It is also expected that formation and management of SCs will be done – spanning two full academic years of academic pursuit on campus. The Students’ Owners will be the real owners of the SCs and bear the ultimate fruits or pains ( losses) of their efforts.

The primary purpose of starting and managing the companies is to master the art of managing the businesses for which every student joins a MBA course. The primary focus of this activity is ‘Doing Business for Learning ’. Although issues like the a. Scale / Size of business, b. Profits or losses in business c. Developing entrepreneurship may crop up as other issues that are relevant - not considered as focus points of this exercise.

It is expected that all the MBA course contents are taught aligning with the launching and managing of ‘Student Enterprises’ . Each of the SEs are being evaluated on a predetermined parameters ( say 20 in number ) at specific time intervals spreading over two years of MBA course. Students’ achievement on these parameters is incorporated in to their academic achievement. Students have to furnish all the necessary documental evidences before the Faculty Assessment Committees (FACs) so as to convince the FACs for having achieved the necessary parameters. SEs may be given a weight say, 20 % of overall credits in a given course.

For smooth running of the business, Students will be mentored by the institute faculty and also past alumni including some of the industry captains who are interested and willing to spare time and assume the role of mentors. Student - Mentors may also invest equity money in the SEs. Further, Student - Mentors may also bargain with SCs for equity share for their ‘handholding’ service. Finally, a token ‘Equity’ share of ( say 10 %) will be held by the academic institutes in the SEs for the support and the facilitation that is being extended for the success of the SEs.

What will be the future of SEs?:

At the completion of students academic course, student owners may continue with their companies ( without looking for placements) as they desire or handover the companies to parties at a mutually agreed upon price.

Underlying idea of SEs:

· Business Studies is akin to any other professional studies like Medicine, Agriculture, Law etc. It is expected that professional education should be taught with ‘Practice’ orientation. ‘Learning by Doing business’ makes the learning process more meaningful, relevant and rewarding.
· The five principles of Geese management comes to live in SEs as learning project for students.
· Given the best Students joining top B – schools of India, SEs may prove to be a great success.

The benefits of the SE project are:

Students being very creative it is possible to see the emergence of the ‘new generation’ companies due to the SE program.
Possible to develop strong business and entrepreneurship orientation amongst the students.
Students have got the more than the necessary intelligence, talent, time and zeal to conduct SEs as part of their academic course.
One of the strengths of B- schools is its large number of students ( around N= 500). Having a group of 500 students at one place for two years , that too residential and full time, provides the best opportunity to conduct SEs.
Being in located in metropolis like, Delhi, Bangalore, Mumbai , B- schools have an added location advantage.
The Indian economy being at its ‘take off’ point, it is the right time to promote SEs

The role out plan for introducing such a course

Incorporating the necessary changes in the curricula including rearranging the courses in accordance with the SEs progress
A 20% academic credits may be allotted to the SE project in the overall course.
Developing the ‘ Assessment criteria’ for SEs
Conducting faculty workshops for preparing the faculty for mentoring the SEs
Seeking industry participation to develop SE mentors.
Establishing a state of the art ‘Business Center’ so as to provide the business related services to the students on real cost payment basis.

Possible problems and coping mechanisms suggested:

SEs being a new concept may face initial problems which cannot be ruled out. Some of the problems are listed below.

Aligning the theory with the practice is the major task before the faculty. There needs to develop basic understanding among the faculty to align the theory with practice.
Some students may express doubts about the success of SE project.
Providing the infrastructure in terms of state of the art ‘Business Center’ on campus may face some problems.

-O-

 

World Wide Student Enterpreneurs ; A List

Author: NITIE Center for Student Enterprsies ( NCSE)

Hamara Dhandha
‘ Inspirers’ for our Student Enterprising @ NITIE

APJ Abdul Kalam ‘Wings of Fire: Autobiography ‘ p.8
“ I used to collect the seeds and sell them to a provision shop on Mosque Street. A Days collection would fetch me the princely sum of one anna “.
“ The news papers now had to be bundled and thrown out from the moving train on the Rameshwaram Road between Rameshwaram and Dhanuskodi. That forced Samsuddin to look for a helping hand to catch the bundles and, as if naturally, I filled the slot. Samsuddin helped me earn my first wages, Half a century later, I can still feel the surge of pride in earning my own money for the first time”.



Michael Dell, Founder, CEO and Chairman of Dell Inc. while at the University of Texas at Austin, started a computer company called PC’s Limited in his room in Dobie Center. A part from many of the achievements, Dell as of 2007, Forbes estimates Michael Dell’s net worth at $ 15.8 billion, making him the 30th richest person in the world and the 9th richest American.


Sir Richard Charles Nicholas Branson’s first successful business venture was at age 15, when he published a magazine called Student. At the age of 21 years, Branson then set up a record mail-ordered business in 1970. In 1971, he opened a chain of record stores, Virgin Records, now known as Virgin Megastores.
Mr. Suhas Gopinath, still a student pursuing his under graduation course in engineering in southern India launched his own website, “ www.coolhindustan.com “ when he had still not crossed 14 years. In the year 2000, at the age of 14 years, Suhas Gopinath founded his own firm ‘ Globals Inc ’ in San Jose, California. Mr Gopinath is often referred to as “ Global Youngest CEO “ .




Hamara Dhandha
Inspirers for our Student Enterprising @ NITIE

 

NITIE Center for Student Enterprises NCSE Outline

Author: NITIE Center for Student Enterprsies ( NCSE)

NITIE Center for Student Enterprises ( NCSE)
NITIE Campus, Viharlake, Mumbai – 87
( A unit funded by Dept. of Science and Technology, NSTEDB, GOI )
Dr. T. Prasad
Faculty Adviser, NCSE
tprasad@nitie.edu




Enforce Entrepreneurship Education
….not just Encourage



National Institute of Industrial Engineering (NITIE) Mumbai, India established fully dedicated “ NITIE Center for Student Enterprises (NCSE) “ with a view to encourage entrepreneurship among the emerging youth of India; with a determination to enmesh the youth with the developmental initiatives that are in offing in India, and counter the unemployment problem in most innovative way . NCSE is the first of its kind of attempt to integrate enterprising with regular academic process leading to entrepreneurship development among the youth.
Department of Science and Technology, Government of India has appreciated venture and selected it for full funding.

VISION
Emergence of every student to be an Enterprising person

MISSION
Creation of intellectual, informational, institutional infrastructure to nurture student enterprising
To serve as a national center for research, education, training and extension of student enterprising

OBJECTIVES
Intellectual: To develop an understanding of the concept of Student Enterprising among the academic faculty, students, administrators and policy makers
Informational : Developing appropriate literature on student enterprising by creation, collection and dissemination of literature on entrepreneurship education both at national and international levels
Infrastructural : Developing appropriate organizational apparatus and forums for introduction, implementation, furtherance and spread of student enterprising

DELIVERABLES
Creating an effective pedagogy to introduce student enterprising from Post Graduation to Kinder Garden levels
Contribute to massive growth in number of startups by students and
Reduction in ‘Time To Become Entrepreneur’ (TTBE) for potential entrepreneurs
Developing number of case studies related to student enterprising
A Journal dedicated for the cause of Student Enterprise and Education
Creation of National body “ National Student Enterprises Board ( NSEB) for promotion of student enterprising - // -

Philosophical Questions for NCSE Project:


What is the need for NCSE project..?

What is the ultimate the thing that NCSE wants to achieve?

For what the NCSE project is meant for..?

What are the expected outcomes of NCSE project in next FIVE years?

What happens to the NCSE project when ones it is got over after Five years or so..?

What methodology NCSE project is applying at present to realize its objectives.. ?

What visible things are expected to be created due to NCSE project? What and When – is there any time line set for these outcomes?

How the present activities undertaken at the NCSE are aligned with objectives achievement?

What is the route map for the NCSE ?

What other complementing organizations working on this theme..? If there are any..?

What kind of relationship will be between NITIE and NCSE at present ?

What kind of relationship will be between NITIE and NCSE for future ?

What are NCSE expectations from NITIE?

 

Why Students make great entrepreneurs by Dharmesh Shah

Author: NITIE Center for Student Enterprsies ( NCSE)

Why Students Make Great Entrepreneurs ? by Dharmesh Shah, 2004
Having been involved, either in an informal or formal capacity over the years, I have found that many startup founders that I know began their companies while they were still students (undergraduate or graduate) or shortly after they graduated. This brought to mind the question of whether or not students made good entrepreneurs. I think so. Here are the reasons. Disclaimer: Two of the three companies I’ve founded myself were done when I was in “student mode”. One as an undergraduate (computer science) and the other as a graduate (MBA). Why Students Make Great Entrepreneurs ?
Starry-Eyed Optimism: Let’s face it, starting a company takes a fair amount of optimism. You have minimal resources, and the odds are severely stacked against you. To overcome this potentially troubling reality, founders must to some degree exercise suspension of disbelief and demonstrate a degree of optimism to take that initial step. I think this is easier to do when you’re a student. You’re more equipped to be optimistic than if you were a corporate drone trudging through life with Dilbertian bosses and having the life energy slowly drained out of you. Students (in general) are happier people and more capable of the optimism that is required to get started. Clearly, there are exceptions to this. I’m sure there are a few people in corporate land that are not faking satisfaction or happiness, and are generally optimistic people. My hat’s off to them. The world needs people like you to help make big companies functional so the rest of us can use your products and services.
Trusted Peer Network: One of the great things about being a student is that you have the opportunity to meet and work with a lot of different people. If you do it right, you can get to know some of these people pretty well by working on projects with them and hanging out with them outside of class. This group of people can often make great co-conspirators and collaborators. On the other hand, if you’re stuck in a big corporate world, chances are you’re interacting with a limited set of people with very well defined activities many of whom you may not like anyways. Why is this so? Simple, because in corporate-land you often don’t get to pick who you work with. When you’re a student, to some degree, you get to pick who you “hire” for your social and academic groups. One of the single largest contributors to startup success is the ability for more than one person (however exceptional) to come together and collaborate.
Higher Risk Tolerance: Let’s face it, when you’re a student your opportunity cost is likely lower than most other points in your career (even if you’ve been in the workforce for a little while and decided to go back and get that MBA). When you’re sitting there in class and an idea comes to you, it doesn’t really cost all that much to give things a try. Besides, who needs all that sleep anyways? Students often find it easier to take the initial entrepreneurial leap because the new startup idea isn’t competing with a regular paycheck. It’s competing with classes and academic work. Many academic programs (even the excellent ones) don’t consume 100% of the available energy of an entrepreneurially minded student. There’s time left over for starting companies.
Abstract Thinking: In many academic programs (and especially the better ones), students spend a fair amount of time thinking about abstract concepts. This is particularly true in an engineering, computer science or even a business program. Learning about things like microeconomics, data structures or calculus is to learn about abstract ways to think about complicated things. You look for patterns and structures and frameworks to explain the world. As it turns out, this kind of thinking is very useful when it comes to thinking strategically (but objectively) about a startup. Without this, it becomes too easy to focus too much on tactics and execution -- without sufficient thought to the larger problem. Since students are exposed to a fair amount of abstract thinking, it may come a little easier to them to think about strategy, competition and how their offering might (just might) change the world.
Applied Learning: As a student, you’re quite often “drinking from a fire hose” and bringing all sorts of new information into your brain. Some of which “sticks” and some of which doesn’t. Along the way, a few of these concepts may shake your understanding of the world a bit and every now and then light-bulbs go off as you begin to understand what all the fuss is about. As a student, it’s often very, very tempting to try and apply some of these concepts that are new and exciting and do something with them. One of the easiest ways to do this is to build a startup that somehow implements or expands on the idea.
One of the great things about startups (and particularly software startups) is that it is so easy to get started. Getting started is simply a matter of beginning to think about a problem and solving it. All the legal stuff, company formation and other details, though important, don’t have to get in the way (and are not that hard). One of the biggest barriers to entrepreneurism is that initial leap of faith. And students seem reasonably capable of taking this leap on a frequent basis.
Summary Of My Point: If you’re a student or recent graduate, this is a great time to think about starting a company. Keep your mind open. See if you can find patterns in the problems that you’re seeing and try and find unique and compelling ways to solve problems people care about. It often is really that simple. A personal quote that I used in a presentation on entrepreneurism at MIT a few years ago: Starting a company is really, really easy…it’s the surviving and growing it that’s hard.
- x-

 

Student Enterprises or Classroom Companies NITIE

Author: NITIE Center for Student Enterprsies ( NCSE)

tudent Enterprises or Classroom Companies NITIE

Awaited for information

 

Entrepreneurship Educatin Awards 2008 NITIE

Author: NITIE Center for Student Enterprsies ( NCSE)

Entrepreneurship Educatin Awards 2008 @ NITIE

Wait for posing information

 

Hamara Dhandha Outline for IM students

Author: NITIE Center for Student Enterprsies ( NCSE)

Hamara Dhandha –
Classroom Companies @ NITIE - An outline
Visit: http://india.smetoolkit.org for relevant information
I. What is Hamara Dhandha..?

NITIE students will be registering partnership firms so as to work on the enterprising ideas of their own with their funding. The purpose of the partnership firms is to engage, earn and learn the business fundamentals through ones own experience of enterprising.

II. Schedule is given below.


Particulars
Time Line


Introduction and Dhandha Orientation session
July I week
Dr T Prasad

Session on formalities for Registering a Partnership firm
July II week
Guest Faculty - @ NITIE

Idea generation
July III week
NeN workshop

Opportunity Evaluation
Aug I
NeN workshop

Filing the partnership applications with ROF
Aug II week
Self

Submission of Registered Deed
Aug III week
-


III. Firm registration cost : Total cost for registering a partnership firm will be a max. of Rs. 1,000 /- Consult your seniors on how to save money for registration.

IV. Advantages of the Prog.

· Set to getting in to business mode
· Experiencing the process of identifying what is Ones Own firm ;
· Pride of having ones own firm ;

V. Addresses and information of Notaries and advocates who can help you:

· Approach your seniors for help
· Experiencing the process of identifying what is Ones Own firm ;
· Knowing the process of registration of a firm.

VI. FAQs for you all:

· Is it possible to have Class room companies? Of course, yes. It is just possible.
· Is it right way to have Class room companies? Of course, yes. It is best way to make the business students learn the business.

· How to balance Student’s academic and Business related aspects simultaneously? Yes. It is possible to balance ‘Learning and also Doing’. If the students select appropriate businesses as their choice, it is very much possible. The solution lies in appropriate business for you. Further, it is your creativity through which u can solve this issue.

· How to start and run the business by students? It is the essence of the whole prog. Students are expected to experiment and practice the same. It is the practice that makes the students to master the process of doing the business. Hence, Hamara Dhandha is the way through students learn the things.
· Whether the students have the ability and competence to start and run a business? It is generally believed that they may have the ability. Even if they don’t have ability, they need to develop the same by practicing enterprising.
· How about modalities of starting a business? They are just formalities. Formalities is not rocket science for NITIE students. With in no time students can master the process. See it…

VII. Appropriate business for Student Entrepreneurship are

Some students might have apprehensions regarding what business students should engage in. Some thoughts are collected over time. The following essential features should be there for a student business to be most appropriate / effective one.

· Low Investment / No investment businesses; Definitely - Not brick and motor companies which require huge sums of money.
· Knowledge rather capital intensive businesses
· Businesses which are based on the abundant available students ( your) strengths like ‘Knowledge, Experience, Creativity, Time and Devotion ‘ ( This is Similar to Sabir Batia creating a ‘Yahoo’ company)
· Business which complement students learning in the class room

VIII. The progress Hamara Dhandha is already made @ NITIE

· Junior IM, ITM, ISEM students ( N = 160) are proposing to register 25 partnership firms during the last one year

IX. Documentation required for registration:

· Partnership Deed copy ( See the enclosed format – I )
· Application form filled in Form – A ( See the enclosed format - II )
· Residential Proof – Hostel residential certificate – Issued by Mr. Poojari – Hostel superintendent ( See the enclosed format -III)


VISIT - http://india.smetoolkit.org/india giving full information on this subject. Contact your seniors for more information on this subject.
-//-
The era of intelligent man / woman is almost over and
a new ear is emerging – The era of the creative man / woman.
– Anonymous.

 

Form A for Partnership registration for Student Enterprises

Author: NITIE Center for Student Enterprsies ( NCSE)

FORM A SCHEDULE
Visit: http://india.smetoolkit.org for relevant information
Registration No…… Fee. Rs. 50 /-
Date of Registration: . . . . . .

FORM ‘A‘ : Application for Registration of Firms ( See Rule 3 )

We, the undersigned, being partners, hereby apply for registration as a firm and for that purpose supply the following particulars pursuant to sections 58 of the Indian Partnership Act, 1932: -

( a ) Firm name: ABC Marketing services

( b ) Nature of business of the firm: SALES TRAINING .

( c ) Principal place of business of the Firm:
Place: Flat No. 2D – 1303, Dreams Complex, Bhandup ( W), LBS Marg. Mumbai. Maharashtra.

( d ) Names of any other places where the Firm
carries on business in the above name: - Not Applicable -

( e ) Names in full and permanent address (residential) of all the partners

( f ) Date on which each partner joined the firm.
Jitendra

June 5, 2007
Kushboo

June 5, 2007
Prasanna

June 5, 2007


( g ) Duration of the firm in case there is any provision made by contract for the duration of the partnership or for the determination of the partnership, please state the provisions briefly. If no such provision is made, words “ AT WILL’ may be stated. ‘ AT WILL ‘

( h ) In case there are any minors admitted to the benefits of partnerships:-

Name and address of the minor
Name and address of the Guardian
Date of admission to benefits
Date when he / she will attain majority

N I L


We are sending the prescribed registration fee by cash / money order. We ……………
The above mentioned, solemnly affirm that what is stated in paragraphs ………………
is true to our own knowledge and that what is stated in the remaining paragraphs is stated on information and belief and I / We believe the same to true.

We also declared on solemn affirmation that up to the date of submission of this application there has not any change whatever in any of the particulars aforesaid.

Solemnly affirmed at
Dated this 7th day of July 2007
Names and Signatures
( 1 ) Jitendra
( 2 ) Kushboo
( 3 ) Prasanna
Certified that the persons who have signed the applications have signed in my presence and have solemnly affirmed that the particulars furnished therein are true.

Name of attesting Witness;
Designation:
Address:
And Seal, if available

Before me
- // -

 

Model Partnership Deed for Student Enterprises

Author: NITIE Center for Student Enterprsies ( NCSE)


PARTNERSHIP DEED

This Indenture of Partnership made at Thane this 7th the day of JULY in the year Two Thousand Eight BETWEEN

1. JITENDRA, Aged 65 years, Hindu Indian Inhabitant, residing at G 25, Hoechst Quarters, Amarnagar, Mulund ( W) Mumbai hereinafter in this deed referred to as the party of the FIRST PART; and

2. Mrs. Kushboo Aged 30 years, Hindu Indian Inhabitant, residing at Type IV , 209, NITIE Quarters, Vihar Lake, Mumbai – 87. hereinafter in this deed referred to as the party of the SECOND PART; and

3. Mrs. Prasanna Aged 30 years, Hindu Indian Inhabitant, residing at Type IV , ………, NITIE Quarters, Vihar Lake, Mumbai – 87. hereinafter in this deed referred to as the party of the SECOND PART;

Both major and hereinafter in this deed referred to as “the Partners” which expression shall, unless and until be repugnant to the context or meaning thereof, also include their heirs, administrators, executors and / or assigns.

WHEREAS the said parties of the FIRST AND SECOND part as mentioned above are desirous of carrying on Business in partnership of Sales Training and Services w.e.f. 7th July 2008 in the name & style of MANDI MARKETING SERVICES on the terms and conditions agreed to amongst / between them which are reduced in writing now as set out hereunder.

NOW THIS INDENTURE OF PARTNERSHIP WITNESSETH AS FOLLOWS :

1. THAT the Partnership shall be deemed to have commenced with effect from 7th JULY 2008.

2. THAT the Partnership shall be conducted in the firm name and style M/S MANDI MARKETING SERVICES


3. THAT the Nature of the business of the Partnership shall be that of Sales Training and Services and/or any other business as the partners may agree upon from time to time.

4. That the business of the Partnership shall be conducted at and from Flat No. 2 D 1303, Dream Complex, Bhandup ( W ), Mumbai and / or such other place/s as the Partners may agree upon from time to time.

5. THAT the duration of the partnership shall be ‘AT WILL’.

6. THAT the Initial Capital to be brought in the business by the Partners would be of Rs. 1, 00, 000 /- (in words ; Rs ONE LAKH ONLY ), to be contributed in such proportion as the Partners may decide mutually. That the further Capital required for the purpose of the business of the firm shall be formed by the Partners as and when required and as agreed between them from time to time. It is agreed by & between the parties hereto that simple interest at the rate of 12% or at such other rate as may be mutually agreed upon may be paid by the Partnership Firm on the mount standing to the credit of Capital / Current Account of the Partners.

7. THAT the accounting year of the Partnership shall be Financial year that is April-March.

8. THAT it is agreed by & between the Partners hereto that both the Partners (hereinafter referred to as Working Partners) who are devoting their time and attention in the conduct of the affairs of the firm, as the circumstances and profession needs may require, shall be paid remuneration. The total remuneration payable to the working partners shall be worked out as under :-

In case of loss or book profit up to Rs. 75,000/- for the year
9.
Rs.50,000/- or 90% of the book profit, whichever is higher.
On the amount of book profit exceeding Rs.75,000/- but not exceeding Rs.1,50,000/- for the year
10.
60% of the excess over Rs.75,000/-
On the book profit exceeding Rs.1,50,000/- for the year
11.
40% of the excess over Rs.1,50,000/-

The total remuneration payable determined as above shall be distributed among the Partners in the following proportion :


9. However minimum remuneration to be given to ( no. of ) THREE partners shall be @Rs.2,000/- p.m.

10 . For the purpose of payment of the above remuneration the book profit shall be calculated in accordance with the provisions of Section 40(b) of the Income Tax Act, 1961 or any applicable provision that may be in force from time to time for the Income Tax Assessment of the Partnership Firm for the relevant accounting period.

11.THAT the yearly remuneration payable to the partners shall be credited to their current accounts at the close of the Accounting period when the Final Accounts of the partnership firm have been duly made up and the amount of remuneration due to them is duly determined. The partners shall be entitled to withdraw on account any amount against their salary & interest which shall be adjusted at the end of the accounting year.

12. THAT the partners shall be entitled to draw any amount from the partnership firm against the amount standing to their Capital and / or Current, Loan Account by mutual consent.

13. THAT the Partners shall be entitled to modify the above terms relating to remuneration, interest etc. payable to the partners by executing a Supplementary Deed and any such deed when executed shall have effect, unless otherwise provided, from the 1st day of the accounting period in which such supplementary Deed is executed and the same shall form part of this deed of Partnership.

14. THAT the net Profit or Loss of the Partnership business after charging interest & salary to Partners as per clause 6 & 8 shall be shared/borne by the Partners in the following ratio :

NAME OF THE PARTIES
SHARE
SHRI. Jitendra
50.0%
Mrs. Kushboo
25.0%
Mrs. Prasanna
25.0%

100 %

15. THAT no interest shall be charged on drawings made by the Partners.

16. THAT an account/s shall be opened in the name of the Firm with any Bank/s of repute and shall be operated jointly by the partners and as per the arrangements made with the Bankers.

17. THAT proper books of accounts relating to the transactions of the Partnership Firm shall be maintained and Profit & Loss Account and the Balance Sheet shall be drawn at the end of each accounting year and books shall be adjusted and closed accordingly. The statements of accounts prepared at the end of each year shall be signed by and binding on the Partners. The books of accounts and other records, documents, etc. relating to the affairs of the Partnership Firm shall be kept at the principal place of profession of the Firm and shall be open to inspection for all the Partners.

18. THAT no Partner shall, without the consent of the other Partners in writing, stand as a surety, guarantor or bailer for an outsider involving the Firm and the other Partner.

19. THAT if any Partner desires to retire from the Partnership Firm, he would be required to give at least one month notice in writing to the other Partner of his intention to do so & shall be deemed to have retired from the Partnership Firm at the expiry of the period of the period till the date of such retirement and the Retiring Partner’s account shall be settled at the earliest.

20. THAT unless otherwise agreed between the parties mutually, no goodwill shall be payable to any Partner in the event of his retirement from the Partnership. Nor shall any goodwill be payable either to the heirs of the deceased Partner or to the executor of an insolvent Partner.

21. THAT it is hereby agreed upon the Partners that the Firm shall not be dissolved due to the insolvency or demise or retirement of any Partner. In such cases the surviving / remaining Partners shall continue the business.

22. THAT all disputes & differences which may arise between the Partners &/ or heirs, executors, administrators etc. of the deceased or insolvent partner during or after the dissolution of the Partnership & whether in relation to the interpretation of any of the clauses of this deed or to any act which ought to be done by the Partners in dispute or in relation to any of the matters whatsoever touching the Partnership affairs, shall be referred to an arbitration as provided by the Indian Arbitration Act or any statutory modifications thereof for the time being in force.

23. THAT the provisions of the Indian Partnership Act, 1932 which is now in force or any statutory modification or re-enactment thereof shall apply to all the contingencies not expressly provided in this PARTNERSHIP DEED.

In WITNESSTH WHEREOF the parties have hereunto set their respective hands on the day and in the year hereinabove mentioned.

SIGNED & DELIVERED BY THE
WITHIN NAMED
SHRI.

SIGNED & DELIVERED BY THE
WITHIN NAMED
SHRI.

WITNESSES: 1……..

 

Student Enterprising (SE): What and Why?

Author: NITIE Center for Student Enterprsies ( NCSE)

Dr T Prasad, Faculty Adviser, NITIE Center for Student Enterprises
Vihar Lake, Mumbai. tprasad1961@yahoo.co.in

What is Student Enterprising?

Visit: http://india.smetoolkit.org for relevant information

Students engaging in enterprising as part of their regular studies is ‘Student Enterprising’. Dictionary meaning of ‘ Enterprising’ is - having the ability to think of new activities or ideas and make them work.

How SE helps the students?

Students directly benefit by engaging in enterprising. Further, it is possible to use the enterprising experience of students for improved learning. Let us take an example and understand how it helps the students. For example: Civil engineering students engage in constructing small civil engineering works for some customers. This experience can be made use by the faculty to make the students to learn the fundamentals of civil engineering subject. Further, it also help the students to earn some money out of the activity. One more example; Electrical engineering students can engage in some kind of electrical work for payment. This will not only enhance the students understanding of electrical knowledge but also help the students to make living out of the work they do. This learning model can be extended to any kind of studies including arts, commerce, science, medicine and engineering.

How Student Enterprises work in reality?

A group of students (say 4 or 5 or 6) come together plan, launch, and work on an enterprising idea of mutual interest. They pull together their own meager resources to launch a formal company ( either partnership or a limited company) . Students work on the idea, create product or service, and sell the idea to the customers and deliver the product or service and finally make an earning. Essentially, students work together as a team and try to launch the company and make it work so as to understand and learn on how it works through real experience.


Whether any where Student Enterprises are being practiced?

Yes. At NITIE, Mumbai MBA students have launched 20 such student companies and operating them for the last eight months. This program is called ‘Hamara Dhandha’.

Further, there are many students who have got their own enterprises. It is interesting to note some of the student enterprises like ‘ Hellow Intern; Slotzero, Youthportal, Webvastra, Coherendz ( You can find all these companies on your Google search) are found to be very valuable companies in the market.

Are there any Student Entrepreneurs in the world?

Many of the famous businessmen in the world are themselves student entrepreneurs.

Michael Dell, Founder, CEO and Chairman of Dell Inc. while at the University of Texas at Austin, started a computer company called PC’s Limited in his hostel room in Dobie Center. A part from many of the achievements, Michael Dell’s net worth at $ 15.8 billion, making him the 30th richest person in the world and the 9th richest American.

Similarly, Virgin company CEO Richard Branson also started his small company when he was in school. Sir Richard Charles Nicholas Branson’s first successful business venture was at age 15, when he published a magazine called Student. At the age of 21 years, Branson then set up a record mail-ordered business in 1970. In 1971, he opened a chain of record stores, Virgin Records, now known as Virgin Megastores.

Mr. Suhas Gopinath, still a student pursuing his under graduation course in engineering launched his own website, www.coolhindustan.com when he had still not crossed 14 years. In the year 2000, at the age of 14 years, Suhas Gopinath founded his own firm ‘ Globals Inc ’ in San Jose, California. Mr Gopinath is often referred to as “ Global Youngest CEO “ . It is like this. For some body to grow beyond expectations ( or excel in life ) one has to start very early in life. For example, if some body wishes to break Sachin Tendulkar’s Test Centuries record…. one has to start cricket as a career much… much earlier than Sachin started his cricket career.

Is there any difference between Vocationalisation and Enterprising?

Vocationalisation provides some specific skills to the students. It is something like welders, fitters, mechanics does. Due to Vocationalisation, People learn certain skills which help them to do the job more efficiently. Where as, Enterprising is much more elaborate experience. People who engage in enterprising learn more than what they see and do. A civil engineer who works on a construction site not only gains knowledge about the cement, iron but also about architecture, environment, people skills, communication etc.

What some big people say about Student Enterprising?

Orientation for entrepreneurship has to start right from the schools. Teachers need to teach the role of entrepreneurship on national development in the schools. During college education, students must be exposed to business development opportunities and must be trained towards creation of new enterprises…”

Shri A P J Abdul Kalam, Former President of India,

Address to the Nation on the eve of Republic Day 26th Jan 2007.