Pankaj Bhujbal, Trustee, MET League of Colleges and Devang Oza, India Head, CBA Ventures, in the presence of Manish Oza, Director of CBA Ag (Switzerland) and Dongwook Suh, CEO – CBA Ventures (South Korea) launched this initiative.
The concept of start-ups is generating increasing high interest among educational institutions. And rightly so. In the past decade or so, large number of start-ups have come into existence. Start-up ventures which have turned into a full-blown companies have also caught investors' and consumers' interest. One clear distinct reason for mushrooming of start-ups is they have been catering to certain basic needs which hitherto have been neglected or unmet.
Keeping in mind this rising trend of start-up culture, one of Mumbai's well-known educational institutions--Mumbai Educational Trust (MET) League of Colleges, Bandra, north Mumbai, has collaborated with Cross Border Associates (CBA), South Korea-based start-up solutions provider, launched start-up culture promoting venture ‘Start-up Accelerator’. Pankaj Bhujbal, Trustee, MET League of Colleges and Devang Oza, India Head, CBA Ventures, in the presence of Manish Oza, Director of CBA Ag (Switzerland) and Dongwook Suh, CEO – CBA Ventures (South Korea) launched this initiative.
Interacting with over 300 students, chief guest, Govindbhai Dholakia, Chairman – Shree Ramkrishna Exports, a leading diamond exporter from Surat, shared his personal philosophy and management success secrets which led to creation of a billion-dollar empire in the diamond industry. He said, "All I would want to tell them is that all people are capable of doing good for themselves. So, have a lot of self-belief and involve yourself in work. Also, gain experiences if you want to be successful. In the last 47 years, I have practised one philosophy: You always get back what you give the world. You help others achieve success and prosperity, and they will in return help write your own success story."
“In the rapidly growing Indian start-up ecosystem, this initiative would empower students with a global perspective, in addition to gaining easy access to the financial support and our timely management interventions,” said Thomas Yi, chairman of Cross Border Associates Ag (CBA), Seoul – South Korea. A strategic move on the part of MET, the initiative is likely to provide MET with the early mover advantage in the global content.
Elaborating on how students stand to benefit from the tie-up, Dr. Vijay Page, Director General – MET League of Colleges said, “MET-CBA ventures will act as an Acceleration Hub for global start-up companies entering India and thereby providing its students an opportunity to directly engage with global companies from a very early stages of their India Journey.”
The MET-CBA association, eventually, would serve as a global platform for Indian companies looking to expand globally through its global partner CBA Ventures. Working at the grass-root level with Indian start-ups across all business verticals, MET - CBA Ventures would also be identifying companies that have the potential to scale globally and compete globally with their quality business solutions. MET-CBA Start-up Accelerator would probably be the first of its kind professionally run ‘Acceleration Hub’ in the country designed to offer professional support to budding entrepreneurs for early stages so to help them become global companies.
As a strategic partner, MET would play the role of a catalyst/facilitator in encouraging start-up culture among its students. It will make available quality entrepreneurship curriculum and offer students support, guidance and professional exposure through its existing strong industry-academia linkages. It would offer start-ups co-working space, support during the early start-up phase and also provide access to appropriate intellectual expertise. CBA Ventures on its part will provide its vast global experience in the start-up accelerator and incubation phase. Its existing network of international industry professionals and a venture capital fund would help these start-ups expand locally and globally.
The venture aims to help students turn their business ideas into successful business ventures by putting them through rigorous mentoring and coaching process, offering guidance to these start-ups business with operational issues on a real-time basis and facilitating project investments during the early stages. It will operate as a stimulating hub for foreign start-ups entering India for the first time would facilitate networking with prospective Indian start-ups. It will help create a vibrant business platform to facilitate start-ups with prospective business partners and industry players pan India.
It will provide hands-on business management education, and has already put in place an all-inclusive incubation programme to meet the holistic needs of diverse start-up ventures. In addition to providing access to expertise of lead professionals and entrepreneurs with varied and diverse experience across all industry verticals, the venture will offer strong industry linkages to a wide spectrum of local and global companies.Through the venture prospective start-up professionals will receive guidance on various project financing needs. It will play a major role in introducing start-ups with angel investors and venture capital companies and also guide and support government investment initiatives.