IIT Kharagpur to host entrepreneurship summit

Kharagpur: Entrepreneurship is on its way to becoming more than just a buzz-word in India today. With an aim to give a boost to entrepreneurship in the country, the Entrepreneurship Cell, a student-body at Indian Institute Technology - Kharagpur, will organize the Global Entrepreneurship Summit (GES 2010) on January 15-17, 2010. The Cell organizes the Entrepreneurship Summit every year in January, for young entrepreneurs, students as well as corporates, VCs, and media to gather and interact through networking sessions, guest lectures, certified workshops and national competitions. Personalities like 'Father of Pentium', Vinod Dham, Tata Steel Vice-President Anand Sen, NeXT CFO Dominique Trempont and Forbes Columnist and Popular Author, Sramana Mitra have attended the summit in the past. GES will host six international competitions including the first-ever Clean Technology Challenge alongwith the Start-up Camp and VC Pitch. The Indian Institutes of Technology, which have been long accused for leaking majority of its students for better alternatives abroad, are now churning many first-generation entrepreneurs as well as social innovators who aspire to lead change in India. Many students are turning down lucrative job opportunities to solve real problems home. Shwetank Jain of IIT Kharagpur, who developed a cost-effective power quality enhancement system in 2005 during his B.Tech degree in Electrical Engineering could have left it right there as just another academic project. But once he decided to go out and sell the product, there was no stopping him. P2 Power Solutions is now a running enterprise and handles many industrial contracts, after it got its first breakthrough at Dainik Jagran. Adding to Jain's example, Swaty Gupta, one of the Student Managers at E-Cell says, "The kind of response we have received in the campus is overwhelming. Our annual business-plan competition Concipio received more than 40 entries in 2008 from IIT Kharagpur itself and the winners are in progress of getting incubation from reputed organizations like TIETS, TePP." Another start-up from the campus, Capillary Technologies, which provides mobile-based IT solutions to retail industries, recently won $100,000 as the Qualcomm Q prize money. Swaty says, "While we see many such programs flourishing at Stanford, MIT Sloan and like, we thought to ourselves, why not something in India? Our country is booming with young entrepreneurs and the spirit is soon catching up everywhere. Young start-ups recognize the need of mentorship from successful people, funding opportunities from govt. institutions, VCs as well as media attention. This is what we aim to provide them at GES."