IFIM organises 'Friday's@Startup Foundry'

Strap: The Business School wants to make Electronic City the entrepreneurial hub

IFIM Business School, a private B-School in Bengaluru, inaugurated on Friday the first session of 'Friday's@Startup Foundery' organised by the startup incubator cell.

'Friday's@Startup Foundry' gives an opportunity for start-ups, enthusiasts, IT professionals and students from various colleges to assemble at the college for their entrepreneurial activity.

IFIm's startup incubator cell wants this bi-monthly event on every second Friday so that  Electronic City can be made into a hub of entrepreneurial activities along with Koramangala, HSR and Indiranagar.

Speaking at a session on 'What do investors look at while funding a startup', Partner at Incubate Fund India (The largest seed focused VC in Japan) Nao Murakami said there are three important questions every investor looks at.

"First, is the idea strong enough to make the customers pay for it? Second, is the market big enough for the solution that the idea is offering and third and most importantly, how committed is the founder; unless he puts in his all, no investor will trust him," said Murakami.

IFIM Business School Startup Foundry Chief Incubation Officer Varun Akhnoor said Business Schools are cultivators and motivators of entrepreneurship.

"It forms a base for budding ideators to find a firm ground and grow at a swift rate. There is an immense talent pool and networking with fellow ideators and potential mentors would only lead to an upward climb," said Akhnoor.

Speaking at the session, Center for Developmental Education (IFIM Institutions) Secretary Sanjay Padode said as India reaches the doorstep of becoming one of the youngest countries of the world, entrepreneurship is a platform that will redefine the youth of this country.

"Bangalore is the pivot of startups in India and Electronic City, a major area of business. Hence, we plan to become the first incubator in Electronic City to give shape to fresh ideas," he said.