Shillong, June 02: The IIM Shillong Foundation for Incubation and Entrepreneurship (IIMSFIE) inaugurated the second edition of the Bootcamp for Aspiring Young Entrepreneurs of NER. Funded by SIDBI, the Bootcamp witnessed participation from 100 budding entrepreneurs from the Northeast to explore, innovate, and shape the future of the region’s startup ecosystem.
The inaugural ceremony was graced by Prof. D.P Goyal, Director of IIM Shillong; and Mr. S Paunminthang Gante, AGM, SIDBI; Faculty members and dignitaries from various sectors also graced the occasion. D.P. Goyal, in his inaugural address, congratulated the participants and emphasized the importance of entrepreneurship. He said that it gives me immense pleasure to see young minds being nurtured in a premier institute. He also emphasizes the audience to make the most of this platform and explore the rich possibilities of entrepreneurship in the region. He further stated that entrepreneurship requires a mindset and dedication to contribute to future growth.
Mr. S Paunminthang Gante highlighted the limitless opportunities for budding entrepreneurs. He said with focus and dedication, the sky is the only limit, while giving a lecture Gangte highlighted and discussed the five ‘D’ – Dedication, Determination, Discipline, Diversity, and Direction. The event concluded its intensive 5-day Entrepreneurial Bootcamp with a Valedictory program, Distinguished Guest, Mr. Bhanu Prakash Verma, GM, SIDBI addressed the valedictory session, highlighting the significance of the boot camp’s mission to foster entrepreneurial spirit in the North East. Over the past five days, participants were immersed in a series of dynamic sessions, workshops, and interactive activities aimed at equipping them with essential entrepreneurial tools and knowledge. The boot camp’s vision was clear: to nurture and empower the entrepreneurial potential within the North East.
Key Highlights of the Bootcamp are as follows:-
First, Understanding Market Dynamics and Trends: On day one, participants delved into market dynamics, emerging trends in the startup ecosystem, and the abundant opportunities available. Second Foundations of Business Development: Faculty members shared insights on developing robust business plans, design thinking, innovation, financial planning, market research, and business modeling. third, Focused Group Interactions: Participants were divided into seven specialized groups—Agritech, Fintech, Handloom/Handicraft, Tourism, Renewable Energy, IT/ITES, and a mixed group. Each group engaged with industry leaders from NESAC, NECTAR, AMTRON, RBI Incubation Hub, AIC-SELCO Foundation Guwahati, NIFT Shillong, and NIT Shillong. Fourth, Funding Opportunities: Representatives from NEDFi and SIDBI provided key insights into funding opportunities within the startup ecosystem. Fifth Practical Exercises: Facilitated by Mr. Akash Shukla from Google Startup and Mr. Dewansh Poddar from FITT, IIT Delhi, participants engaged in business modeling exercises, pitch deck preparation, and ideation workshops and lastly, Pitching and Mentorship: Enthusiastic participants pitched their innovative ideas, with 15 standout ideas selected for further refinement and presentation.
From the very beginning, the enthusiasm for pitching new ideas was palpable. The diverse array of innovative concepts addressed real-world challenges, showcasing a deep understanding of the North East’s unique needs and potential. Industry experts and seasoned entrepreneurs shared invaluable wisdom, emphasizing resilience, adaptability, and continuous learning. Interactive workshops on business planning, marketing strategies, financial management, and technology integration offered participants practical knowledge to turn theoretical concepts into actionable plans. Networking sessions fostered collaborations, building a supportive community of like-minded individuals that will be a cornerstone of their entrepreneurial journeys.
The boot camp’s success underlined the region’s rich cultural heritage, abundant resources, and untapped potential. Participants demonstrated how these strengths could be leveraged to create impactful businesses through sustainable practices, cultural heritage preservation, and technological advancements. IIM Shillong continues to support entrepreneurs in building up businesses that uplift the region and its people. The institute is excited to launch a startup cohort soon, welcoming participants as incubates and continuing to nurture their entrepreneurial endeavors.
