Prototype Validation-Converting Prototype into a Startup
Name: Mr. Parampreet Kalra
Designation : Founder and Co-Founder
Organization: Starthub Nation, iTappit, Satnam Infosys
Brief details of the event: Chandigarh Business School of Administration conducted an online session on Prototype Validation-Converting Prototype into a Startup on 29th April 2021. The speaker of the session was Mr. Parampreet Singh Kalra. Mr. Kalra, highlighting the importance of the topic for the students looking to begin their own startups and how they can utilize this session to convert the prototypes that they can design for the ideas and then further convert that idea into a startup.
Response of the audience: The students gained an in-depth understanding of the topic i.e. how they can convert a prototype into a viable business idea, the challenges they have to face and how to overcome the challenges by learning from the expert’s very own journey of recently converting a prototype into a commercial product i.e. iTappit – a smart business card that will reduce the need to carry the business cards with you. You could simply transfer the contact details and business details from one device to another by just tapping that card with a NFC enabled device. The learning was quite evident from the level of questions asked by the students to the expert. Mr Kalra was able to arouse interest of the students in the area and the session became a wonderful dialogue based session where the students were asking regular questions and expert was generous enough to answer almost all their queries.
Faculty Coordinator Name & Email ID: Neeraj Gupta, Assistant Professor,email@example.com
Number of participants: 20 faculty members and 250 students
Learning Outcomes: Students gained in-depth knowledge in relation to the entrepreneurship development and Project Management (MBA-207-18) subjects as a part of the curriculum in their 2nd semester. The topic dealt with the two core areas of the subject i.e. Entrepreneurial Strategy: Generating and Exploiting new entry opportunities and Creativity and Business Idea Generation.
PO1: Business Environment and Domain Knowledge
PO2: Creative Thinking, Business Analysis, Problem Solving and Innovative Solutions.
This event helps in attaining PO1 and PSO1.
Expert Narration: Mr. Kalra, started his session with a hands-on example of the recent prototype that they had very recently converted into a startup and had diversified from a majorly a Software solutions company to a product manufacturing company. The expert shared the entire journey of how they and their team converted an idea right from the ideation stage to a prototype and then from a prototype to an actual startup. The expert shared all the stages involved from prototype development to conversion into a commercial startup through this practical example which ensured that the students could relate to the concept and understand the process of converting a prototype into a commercially viable startup. The expert also shared his experiences of working in a turbulent COVID-19 impacted business environment and shared that if you have the necessary passion and have done your homework then you can begin a startup even during these tough times and come out with flying colors.