IIM-A all set to catch VCs' attention

Institute will organise a start-up fair.

The Indian Institute of Management-Ahmedabad (IIM-A) will organise a start-up fair during its final placements in a bid to emulate the successfull response received from the fair during the summer placements.

In further indication of the students' interest in starting their own ventures this year, seven students from the second year post-graduate programme (PGP) have decided to present their business plans to venture capitalists and angel investors this month.

Further, around 15 students from both the PGP and Post-Graduate Programme in Management for Executives (PGPX) are considering similar options.

Interestingly, most of the business plans have come from the retail sector and have been valued between Rs 1 crore to Rs 20 crore. Other plans include manufacturing lighting systems from fibre optics and one on the art sector among others.

Two groups will also be presenting plans that are offshoot of their family business. The business plans are all set to be presented at the IIM-A Annual Venture Conclave scheduled for February 18, which has been developed on the lines of the low key Venture Capital Conclave held in 2006.

Last year, the conclave was almost an in-house event which had the presence of just one venture capitalist in contrast to this year which will see a host of venture capitalists including Alok Mittal, MD, Canaan Partners, and founder of jobsahead.com, Mahesh Murthy, CEO, Passion Fund, Vishnu Varshney, CEO of GVFL, Shravan Shroff, MD, Shringar Cinemas, Vijay Shukla, country head of Value First among others.

"The event has been organised to facilitate the enormous interest in start-ups this year and will provide students and budding entrepreneurs an opportunity to meet and network with venture capitalists and investors and get a feedback on their business ideas, " said Kunal Upadhyay, CEO, Centre for Innovation Incubation and Entrepreneurship (CIIE), which is co-hosting the event with Entre, IIM-A's student entrepreneurship club.

However, its not all about catching the eye of venture capitalists as some of the students are hoping to obtain funding from banks.

"Students are hoping to attract both VCs as well as banks since the ratio of acceptance by VCs have generally been on the lower side. The shortlisted students will get to spend half an hour closed-room sessions with the investors which will go a long way in generating essential feedback for the business plan," said Vikas Nair, second year PGP student who is co-ordinating the event.