The labour force participation of women in India is among the lowest. While India is one of the largest countries with a booming startup scene, majority of them has been founded by men. But clearly there are still some impediments in the entrepreneurial ambitions of women. Social Impact Incubator for Women Entrepreneurs at IIM Calcutta Innovation Park, in partnership with Pernod Ricard India Foundation has been exclusively designed for Women Entrepreneurs, aiming to build a supportive biosphere for women to step alongside and share this entrepreneurial journey.
The selected Cohort for the Social Incubator for Women Program will have multiple valuable benefits for the selected entrepreneurs.
A business idea is a concept for commercial purposes and typically centers on a product or service that can be sold for money by adopting an operational and practical model. The characteristics of a unique business idea are:
You may go to the application page https://contest.iimcip.com/index.php/apply-now/prif-unnati and apply. In case of doubts you can email email@example.com.
Incubation is a process whereby an entrepreneur/organization get help for their new and startup business to develop by providing services such as management training, capital or office space. The incubation provides the eco-system for harnessing new business idea/concept and develop it into a commercial venture.
IIM Calcutta innovation Park (IIMCIP) is a nonprofit company set up under the aegis of IIM Calcutta to promote entrepreneurship and innovation and established itself as a premier hub of entrepreneurship development in East and Northeast India.
It is a process to identify the various sources of revenue generation of the business. It helps capture the value proposition and revenue sources for the goods and services of any business. A clear revenue model is important for sustainability of the business.
The requirement of any goods and services by the users and customers is defined as market demand. In traditional economics the supply and demand generates the businesses and defines the price of the goods and services. In a globalized world in current times, the market definitions can extend from local to global and the demand can be accordingly assessed. At times the ease of use of an existing service and breaking traditional service methods creates market demand. These are services of “mobile”, platforms like “ola/uber” which has created new demand.
The product/services which are traditionally in the market may be improved upon in a multiple manner so as to differentiate them. The product/service differentiator usually comes with improvement of quality, service and overall standardization. For example, the intervention of technology helped in railway ticket/bus ticket and hotel booking. Similarly, packaging of milk helped it improve ease of handling and sale anytime during the day.
Any new idea or concept when translates into a product/services is first tested within closed group of experts is a testimony of the proof of concept. The incubation centers are usually the places that provide the support and services for proof of concept of new idea/concept. The PoC is a stage before the test marketing (or beta stage) of any product/services.
The business that focuses and registers enough profits so as to serve its own cost of existence and grow on a year on year basis is a sustainable business. The products and services of the business remains relevant in its value proposition and benefits to its customers to be in demand sustains itself.