METAMORPHOSIS

Editorial
We feel immensely proud to present the second edition of the annual magazine of the
Entrepreneurship Cell. This year we have renamed our magazine from “Samvedna” to
“Metamorphosis” to reflect how transformations take place in the life of an entrepreneur
resembling that of a larva. Metamorphosis means any change of form, or structure;
transformation. An entrepreneur goes through similar transformation from starting a venture to
making it successful and don't forget the rule of survival of fittest, it is very well applicable here.
Hope our readers would conform to our approach.
E-Cell, a body that was established with the aim of boosting the morale of budding
entrepreneurs by providing the right platform has with in a span of one year, grown by leaps and
bounds. Our goal is to encourage the creativity and nurture the ideas and thoughts that are
encountered by us in any potential entrepreneur.
The magazine comprises of all the activities, awards and achievements that E-Cell, ABV-IIITM did
or achieved during the period 2010-11. The whole year went by with lots of hustle and plethora of
activities. Be it B-Idea, E-drive or even a Quizzing competition, all saw a tremendous response from
the students establishing the fact that there was a great need of a cell at the institute focussed towards
nurturing innovativeness amongst the students.
We have enriched the magazine with some exquisite articles from the students as well as the
people from corporate world which provide an insight to “Entrepreneurship”. The magazine
disserts about every dimensions of an “Entrepreneur” and everything related with
entrepreneurship.
We hope that the magazine will score on every regard according to the readers 'expectation
and promise to come up with some more instigating thoughts next time. With an open ear to all
advice and suggestions:

Akshit Gaur
akshit@ecelliiitm.org
Anshul Nigam
anshul@ecelliiitm.org

Editorial Team

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Message
The business climate and environment have and must have dynamism because stagnation
would be the worst enemy of progress and development. The corporate world, on the American
model, had come to epitomize business and the ambition of every young person was and still is to
get a lucrative appointment in the corporate sector. This almost single minded objective has come
to colour our academic attitudes, our research orientation, our expectations and our efforts. To be
employed in a corporation became the beacon which lights our student life and the annual package
offer becomes the benchmark of achievement
Since then the world has moved on. The corporate world has shown itself to have clay feet.
New enterprises, not necessarily large scale, are creating a new business paradigm. Therefore,
students and teachers have now to try and promote a completely new environment in which there is
greater emphasis on academic achievement, research and confidence building which encourages a
spirit of entrepreneurship. This would imply a willingness to explore new areas of economic
enterprise, a willingness to take risks and courage to accept failure and success with equanimity.
We can thus enlarge the frontiers of knowledge, technology, production, business development,
creation of employment opportunities, business research which is both fundamental and applied as
well as original thinking about how to make IT and ICT and the connectivity they provide as the
main agent of change in governance, business and industry.
In Pioneer- the International Business Plan Contest, perhaps some of the issues which I
have referred to could be considered as themes or discussion items at the event. In any case let me
congratulate the student body of ABV-IIITM, Gwalior for setting up the E-Cell and starting a
magazine, “Metamorphosis”.

Dr.M. N. Buch
(Padma Bhushan)

Chairman
ABV-IIITM Gwalior

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Message
We are heading towards a wonderful future, where mammoth of opportunities in different
cores can be easily seen. This is even more evident in the Indian context, which is a market with
huge potential for growth and development. This makes the present world a wonderful
battleground for all the budding entrepreneurs to crack the opportunity with their own tools and
skills. Educational institutions are designated the duty of carving the future of the country, and the
world at large. In this context it is our responsibility to make sure that we not only supply the world
with capable employees, but also abundant number of entrepreneurs to change the face of the
world at a larger pace. ABV-IIITM Gwalior pioneered the integration of Information Technology
and Management for holistic development of the students. Not only was the concept successful in
the industrial domain, the edge got immensely magnified into the entrepreneurial world.
Requirement of sound knowledge of technology, business, and management in an inter-
disciplinary manner is eminent when it comes to erection of a successful venture. Besides being a
very young Institute, the mammoth of ventures that we have erected is a matter of pride for all of
us. Not only does it depict the multi-dimensional and comprehensive conduct of our academic
programs, it speaks about the rich intellectual environment that exists in each and every corner of
the Institute. Traditionally we have been emphasizing a lot upon routine teaching as per prescribed
syllabi. The globally growing entrepreneurial wave calls for positive steps being taken to mould a
strong attitude inside the student fraternity.
Innovation is the key to success and the most important ingredient of any venture.
Innovation comes with an open and desirous mind. It is highly encouraging to see the budding
minds think big, dare to act, and accomplish their drams by tireless hard work. Success is iterative
that comes as you remove the hurdles from your way. The opening of the Entrepreneurial cell is a
welcome step that would aid the students to start early and start big. I wish the readers derive high
pleasure and gain a lot of information in reading the articles that the magazine presents. I hope the
magazine catalyzes the silent desires that exist somewhere inside each one of us.
Congratulations and best wishes for your initiative.

Prof. S. G. Deshmukh
Director
ABV-IIITM Gwalior

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Message
E-Cell will take a new initiative to bring forth the hidden talent and entrepreneur spirit
amongst the students and synchronize their budding ideas towards achieving the desired goals.
Entrepreneurs are amongst the most important heritage of our institute who are not only
representing but also carving new dimensions for the coming generation of this institute.
My best wishes to the team of E-Cell and all those who are a part of it and I hope that the E-
Cell of ABV-IIITM Gwalior will carve its own identity and be able to justify its existence.

Dr. Manoj Kumar Dash

Assistant Professor
ABV-IIITM Gwalior

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Index
S.No. Page
No.
1 Lurching Ahead 6

Activities under E-Cell

2 Business Quiz 7
3 B-Idea 7
4 B-Write up 8
5 Case study Contest 8
6 Poster Making, Ad-Mad Contest 8

Events Under E-Cell

7 IBM@E-Cell 9
8 Mr. Manu Srikumar's Visit 9
9 French Scholar Visit 10
10 Entrepreneurship Drive 11
11 Sync Up- Sense the Business 12

Article Section
12 Innovation -It's Just Not An Idea 13
13 Entrepreneur-Invest In Yourself 15
14 Innovation Clusters 16
15 Centre Of Gravity Migrating West To East 18
16 Manager vs Entrepreneur 19
17 To Do A Job Or Make A Job 20
18 Difference Between Entrepreneur And Businessman 21
19 Why Be An Entrepreneur? 22
20 India, Indians.... Unprofessionalism, Corruption, Reservation,
Hypocracy What Else? 23
21 Glossary 24

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Lurching ahead...
As E-Cell steps into its second year it brings
with it new dimensions of growth
opportunities, delivering more efficient
platforms that enable the students venture into
their dream ideas and add another feather to
the newly evolved world of entrepreneurship.
Why today “Entrepreneurship” has become
the buzzword amongst the sundry? It is a
delightful fact what the growing IT industry
has delivered to the concept of self-
employment. People have been self employed
since ages but today IT has opened the door to
diverse streams to make a self-employed
career with a difference that only those
survive who have innovation and the courage
to introduce new ideas taking the risk of its
non-acceptance amongst the people. Gone are
the days when people had to struggle through
extensive legal issues, get licenses and many
more.
Wi t h g e n - n e x t “ O p e n S o u r c e ” I T
technologies making it almost a child's play to
use them and generate something
new that befits the demands of the market or to
generate it if there is none.
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METAMORPHOSIS
Surely the Indian Government has played a
vital role by focusing its efforts towards
liberalizing the IT sector to enable its
globalization. Ventures have performed
reasonably well even under economic crisis.
But if it is so simple to start a venture where do
the obstacles lay? The obstacles lie in
thoughts, vision and what we call as an
entrepreneurial spirit. Not all succeed and the
walls are often marked with stories of failures.
The term “Entrepreneur” is what
demarcates this success and failure in
venturing into selfemployment. Is there any
point of saturation? The answer is difficult as
ideas are boundless and whenever you think
what is left somebody is going to shoot a new
one that would extend the saturation point. So
don't wait for an urge but urge yourself to be
your own master!!!
-Sidharth Singh
Secretary, E-Cell
-Abhishek Jha
Convener, E-Cell

Activities under e-cell
2010-11
BUSINESS QUIZ
The business quiz organized by E-Cell was a
grand success. It saw the participation of over
200 students from the institute itself and the
enthusiasm among the contestants was
cherishing. Thecredit goes to our chief
organizers Shashank Singh, Nishant
Agrawal and Vikas Pandey from the E-Cell
team. The valuable guidance of Vaibhav
Sharma (Ex-President, E-Cell) ensured that
everything from the organization to
participation was top notch.
The much awaited final round of the B-Quiz
took place amongst 5 teams. The chief
organizers took charge immediately and
started firing the questions to the teams.
Straight questions were fired in the first round
and two teams were eliminated on round robin
format.
The real battle began in the 2nd tier of the quiz
with the audio visual round. Recognizing
organizations and firms by their respective
logos was not a facile task but team “Patchers
Reformed” cruised through the questions by
the quick and confident answers of team
member Praveen Kumar. His encyclopaedic
knowledge of business world kept the team
leading throughout the competition.
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METAMORPHOSIS
At last, “Patchers Reformed” held the crown
with 40 points followed closely by
“Eulogized” at 35.
B-IDEA
Most people in the modern times agree that an
idea is an image existing or formed in the
mind. Ideas give rise to concepts, which are
the basis for knowledge, skills, philosophy
especially related to business. With the motive
to generate the ideas from the tentative
entrepreneurs of the institute,
E-Cell conducted the B-Idea competition.
It was a lot different from the conventional B-
Plan competitions where one has to get
involved in a lot of research, but this was
aimed at actualizing one's imagination. With
lots of creative brains into the event, E-Cell
just wanted to give a platform and an
opportunity to showcase their talent and
creativity.
The deadline for the ideas was scheduled at
8th October, 2010 and the shortlisted students
presented their ideas in front of Board of
Governors of the institute on 15th October,
2010. The Board consisted of eminent
personalities like Prof. S.G.Dhande
( D i r e c t o r, I I T K a n p u r ) a n d D r.
N.Ravichandran (Director, IIM Indore).
 METAMORPHOSIS

B-Write Up POSTER MAKING,

AD-MAD COMPETITION
This event, though a bit unorthodox came to
E-Drive was not just a learning experience
promote the drafting skills of the budding
but hosted a plethora of fun-filled activities.
entrepreneurs of the institute. Writing is an
The event witnessed some really creative and
Art and in this digital Age, when this art is
fun activities including Poster making, Ad-
getting extinct rapidly, E-Cell came with B-
Mad Competition, Collage Making to
WriteUp with the sole aim to test the
name a few. It gave full freedom to students
inscribing skills of students. As with all E-
to showcase their creative and imaginative
Cell's events, B-Write Up witnessed a huge
skills.
amount of participation not just from IPG
students but also from the PG-MBA students
of the institute. Topics were given on the spot
so as to test the imagination and carving
skills of students. Topics were so versatile
that they tested the writing skills of even the
most skilled writers.

At last, all thanks to the organizers Neha

Rajput and Ravikiran Sahajan who
ensured the smooth running of the event and
conducted the proceedings with great
discipline and enthusiasm.

CASE STUDY
COMPETITION

It was the time to demonstrate what had been

learnt and outplay others in the arena. Case
Study Competition also saw great
participation from the students. Shortlisted
participants presented their case in front of
panel comprised of our esteemed faculty,
Dr.Pradeep Swarnakar and Dr.K.K.
Pattanaik.

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Events under e-cell
2010-11
IBM@E-CELL
This was a great opportunity for the E- Cell to
get recognized at par with the leading
Entrepreneurship Cells of India. E-Cell, ABV-
IIITM, went in to an MOU with IBM to launch
EIC i.e. Entrepreneurship Incubation
Centre. The real purpose of any business idea
or competition is fulfilled only when full
support is provided to the winning idea and
hence the incubation centre will be an
encouraging factor in times to come for the
innovators and budding entrepreneurs.
The biggest news in early August came when
Country Manager of IBM, Mr. Himanshu
Goyal inaugurated the new office of E-
Cell,ABV-IIITM,Gwalior. Mr. Goyal visited
the cell along with Mr. Mayank Jha,
Relationship Manager, IBM and appreciated
the efforts of Team E-Cell.
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METAMORPHOSIS
Mr. MANU
SRIKUMAR'S VISIT
A l e c t u r e o n “ L a t e s t Tre n d s i n
Entrepreneurship” by Mr. Manu Srikumar,
Marketing Manager, Freshersworld.com
was organised under E-Cell. He visited the
institute and had a meeting with Dr. S.G.
Deshmukh (Director, ABV-IIITM), the
Placement Officer and other faculty members
related to the business of his company. The
session turned out to be a great success which
was evident by the jam packed Seminar Hall.
He talked about the various opportunities in
India for budding entrepreneurs and presented
some really motivational ideas in the
presentation. There was a special session in E-
Cell office after the lunch, in the presence of
Dr. Manoj Kumar Dash, Faculty
Coordinator, E-Cell and the complete team
of E-Cell.
 METAMORPHOSIS

FRENCH SCHOLAR VISIT

Mr. Roland Lardinois is a sociologist,
Research Fellow (HDR) at the French
National Centre for Scientific Research
(CNRS). Since November 2009 he has
been associated with the Centre de
Sciences Humaines, New Delhi. He is
currently working on an Indo-French
project, in collaboration with
Dr.VigneswaraIlavarasam (IIT-Delhi),
which deals with the history and sociology
of Indian engineers. The aim of this
project is to study the making of engineers
as professional groups since the colonial
period until the present time, with a
particular emphasis on engineering
education, social mobility, and gender
issues.

E-Cell team had a boardroom meeting

where there was a discussion about E-Cell,
its activities and some social issues
regarding engineers.

It got even better when two budding

entrepreneurs of ABV-IIITM showcased
their B-idea and Dr. Pradip Swarnakar
talked about the different aspects and the
acceptability of the idea. It was a great
experience interacting with a person from
France, studying us Engineers in India.

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Entrepreneurship drive
The one day workshop began in the jam and purely based on one's intuitive skills and
packed Seminar-Hall by taking the questions ability to derive ideas from virtually
that use to grind the participants' mind all the anything.
time while thinking of any business idea.
Participants were also asked to find out the
Mr. Amit Grover, Nurture
worst idea in the course of
Ta l e n t a n d m e m b e r
doing the workshop and
Mumbai Angels said that an E-Drive, a unique present it as the best idea
entrepreneur's inner voice initiative taken by the E- before the other teams
always says “I can”. The Cell, organized by thinking them to be their
students were made to realise Ravikiran Sahajan and investors. They needed to
that their brain is a bin of Neha Rajput, to get answer all the dirt and divine
ideas. It is we ourselves who students acquainted with
they question. This was
need to express it out first all the basic managerial
described as an art which
and look for its future later. aspects, witnessed a huge
every entrepreneur should
success. The E-Drive
The basic methodology of a inherit in him/her to hone
included a B-Plan
business plan document is his/her convincing skills and
workshop by Nurture
idea which acts like the basic ultimately excelling in a
Talent Academy, a
fuel in any plan. The session on Case Study particular field. As an
mechanics of any document with a case study investor, one is determined
are execution of plan, competition (with an on- to find flaws and loopholes
uniqueness and feasibility. spot case) and loads of in the plan but, as an
The force that pushes it are indulging events to hone entrepreneur, one should
the financial terms and the overall managerial know to draw all the
investment. The points that skills of students. loopholes of any business
are to be highlighted are plan into one's own favour.
Promotion, Marketing,
Human Resources, Man power and the speed
breakers are the thoughts about risk and
competition. The points that worry any
entrepreneur are revenues, reaching team
goals in the limits of vision and mission. To
initiate the proceedings, participants were
given a random newspaper headline and
were asked to generate B-Idea out of it and
that too, within 60 seconds.
This introduced the participants with a new
dimension of thinking with no pre thoughts

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Sync up-sense the business

Sync-Up'10, the knowledge conclave on
“Entrepreneurship: exploring dimensions' was
held on 23rd October 2010 under E-Cell, ABV-
IIITM Gwalior. The session was flagged off by an
inaugural welcome to both the sublime speakers
and the expertise in their field, Dr. H.C. Verma
(IIT Kanpur, Physics Department) and Mr.
Shyamlal Yadav (Ass. Editor, India Today). The
Director, Prof. S.G Deshmukh, along with faculty
members. The conference was successfully
organized by the student coordinators Ishan
Agrawal and Bhuvanesh Babbarwal. After the
respected guests guided the gathering with their
thoughts and ideas, Vaibhav Sharma, Ex-
President of E-Cell, ABV-IIITM, Gwalior also
presented his views on entrepreneurship, the theme
of Sync-Up'10.The conference was attended by
over 200 students from various Technical and
Management institutes.
Surely, Sync-Up'10 was a great success and also
provided future opportunities to all the budding
entrepreneurs.

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 METAMORPHOSIS

Innovation: It's not just an idea

Everyone is running after innovation, they
talk of innovation. When you ask people
about their company's “Corporate Innovation
Strategy”, you may see black out onto their
faces. Or you may get an answer that they are
involved good initiatives like brainstorming
sessions, open innovation competitions, and
idea generation schemes. You may even get a
wispy reply when you ask them how many of
their ideas are commercialized and how many
best results in just a blink of an eye ? The
ideas are being experimented and got serious
reason why it is popular among the masses is
attention and funding. Thus there is a loop
because Google is simple. Half a million
hole in innovation which could really be
servers racked up in clusters at data centres
reflected in practices.
around the globe scanning the websites with a
I am writing this article for companies, start huge speed and giving up the results.
ups and budding entrepreneurs giving them
Companies do think that An Idea can change
the crux of innovation. How innovation looks
their life, and when they catch any innovative
like, how it is connected to the economy and
glitch they start initiatives like online
how they can play with innovation. You are
suggestion boxes, brainteaser program and
perhaps etymologically right if you call
some innovation programs to refine it further,
innovation as a radical change or a
and thus prevails the innovation planning gap
breakthrough or a continuous increment in
in the boulevard.
idea. But what it is which drives the
innovation, is it the real fruit? It is the In a survey by McKinsey over 2000
operational process which leads to better executives in the year 2010, 84% agreed that
results in innovation. Innovation is the innovation is really important for future
shortest distance covered between two points. growth of the company. 40% said that they
By shortest distance I mean, there may be generate new ideas on an ad hoc basis. And
infinite number of ways by which you can 57% end up in saying that they need new big
commercialize your idea with lot of ideas while executing well with the current
complexities involved in the path. But one. Though all of them agree that innovation
incremental innovation is the shortest one. is important but hardly a few spend their
efforts and time in processing them. Thus a
Let's talk of Google, have you ever thought of
proper operational queue needs to be created
typing a word in to the search bar and nothing
and monitored.
happened. How Google manages to give the

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It's not only about the idea. It is in your pocket
and you need to pick it up. What is important
is a process. Innovation process is like a
pyramid with all the faces transparent in
nature. At the base you can find a lot many
ideas but to reach at the topmost point, a road
needs to be decided. Incremental innovations
with the existing product can be pumped up
without a delay. When you set a map and reach
up to the middle, it contains a huge
opportunities which give space to venture and
experiment the same. And moving up on the
operational excellence path when you reach at
the peak, future growth needs to be diversified
with the proper management attention.
Innovation pyramid is thus active and
creative. A perfect example of this is Virtual
Worlds of IBM.
Simplicity is the key to Ideate and Innovate.
Companies spend a lot on R&D to ideate. And
I am not complaining that one should avoid. It
is good, but the question is HOW? You might
have come across the way people saying “This
is so simple, How come that didn't hit my
mind?” I give you a thumb rule, generating a
gap and create a need in the present world or
predict the future needs and simplify those
immediately. Its all about satisfying the needs
and wants which are the two hands of any
economy.
Throughout my article I have been talking
about operational excellence and process but
how to create one. By this time we are aware
that ideas create the base and to innovate them
we need an engine which could propel
through. Steve Wozniak, co-founder of Apple
originally gave his idea of personal computers
to Hewlett-Packard. Since HP lacked in
management process to innovate the one, the
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METAMORPHOSIS
idea did not work out. Later, Wozniak decided
to work on this idea with his friend Steve Jobs,
and they went to commercialize the product.
The rest is history. Work with the three sticks
and taste the real innovation.
Ask yourself- You probably talk of leadership
and commitment but how often you
experiment these in a change. Do you actually
spend time out of your schedule to mentor the
viable projects? Individualism, you are the
competition to yourself. And leadership traits
need to be identified throughout the
organization. You need to start paying
attention to each idea and find the shortest
ways of commercializing it.
Secondly, Infrastructural requirements are
obvious which are ready to support
innovation process. You need to know how
long you can go with your idea in order to
propel adequate resources like prototype
development, experimenting, logistics and so
forth. This will help you to deeply analyze the
idea and take you to the next stage.
Thirdly, an effective process needs to be
chalked out starting from identifying the idea,
aligning it with refining scheme, planning to
market it, developing R&D tools for
incremental change etc. Identifying the
opportunities within the idea and allocating
the proper resources give a reason to innovate
for various kinds of innovations.
Thus fuel of operational excellence needs to
be given to the engine of ideas to run the
vehicle of innovation.
“Find a need and fill it.”
-Vaibhav Sharma
Ex-President, E-Cell

Entrepreneur Invest In Yourself
Getting into the shoes of an entrepreneur gives
a blissful feel, a feel of owning yourself, a feel
of living your dreams beyond any limits and a
feel of being your own master. With this
comes a sense of responsibility that you owe
yourself. You are your own boss and hence
employee, managers, investors etc. all invest
in you.
Entrepreneurship is an art or more precisely a
skill which blooms with an investment.
Investment, be in any form, monetary,
workforce, advice or anything, is
indispensable for an entrepreneur to get
excelling in his/her venture. After briefing
about the term “Investment”, it gets
mandatory to explore the most important
ingredient in a venture and that comes out to
be the “Self-Investment”. A famous saying
goes like this
“Having doubt, where to invest,
Invest in Yourself”
To make the term more clear, let's unbuttonthe
traits or attributes of an entrepreneur.
“Investing in oneself” basically refers to
develop and deploy all proceeding
characteristics in one self. The foremost and
the most important characteristic of an
entrepreneur is determination. One can't have
a successful venture sans determination. A
person devoid of experience bounds to fail in
his/her first venture or execution of idea for
the very first time. This is exactly the same
time when one needs a thorough guts to face
the inimical situation and one's temperament
and determination is tested.
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METAMORPHOSIS
Other characteristic that is almost
indispensable for a budding entrepreneur is
the ability to take calculated risk. One must
have enough confidence to take moderate
risks in the safest way. An entrepreneur does
not ask questions about whether they can
succeed or whether they are worthy of
success. They are confident with the
knowledge and intuition, that they will make
the right decision. They exude that confidence
in everything they do. Hence, the risk taking
ability gets directly proportional to the
success in one's venture.
The other “self-investments” include passion,
discipline and foresightedness which form the
integral part of a successful entrepreneur.
Entrepreneurs genuinely love their work.
They are willing to put in those extra hours to
make the business succeed because there is a
joy their business gives which goes beyond
the money. A successful entrepreneur will
always be reading and researching ways to
make the business better.
Concluding the whole thing, I would just say
that everything in a venture including idea,
capital, monetary resources etc. become
secondary necessities to a venture. Preceding
all these, one must develop the right
temperament, determination, ability to take
risk, passion and other skills to one's armoury
before entering into the grand war of business.
These metaphorical investments must be
incorporated in entrepreneurs before
beginning their venture.
- Akshit Gaur

Innovation Clusters
The most necessary things for a company to
stand big and stable are, a sellable product or
service, a strong management team and a proper
infrastructure. The team must be able to deliver
product or services to the customers
satisfactorily, control the expenses and above
all make a profit.
When a company lacks any of these, it may
even have a good start but fails to survive, as
this way there can't be a sustainable
development, and in today's world of cut throat
competition it is a must.
We can make an analogy of a company with an
automobile. It needs a driver which can be
correlated to the owner of the company. The
engine is the management team and the
innovative ideas and the capital investment
becomes the fuel with the right policies acting
like the lubricant oil giving great mileage and
maximum efficiency. But if it lacks in any of the
basic requirements, it all becomes useless and
would be just like having the best model of car
standing in your garage and finally ending up in
junkyard.
This is the basic reason why most of the start-
ups fail. Most of them do have enthusiasm,
skills and most importantly their “innovative
idea” but they lack in certain other grounds,
sometimes they do have the right idea but don't
have the proper logistics, some don't have the
proper revenue generating model and some
even lack the skills, some fall behind in
updating their technology and many other
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METAMORPHOSIS
factors which all together makes a profit
making, healthy and long lasting company.
Now as a beginner in the field of business, many
of them may not be able to gather all these at
once. This problem is faced by a large no of
small level start-ups. This sector of lower level
start-ups may be classified as the Micro Small
and Medium level Enterprises(MSME). As a
nation grows the number of MSME sector
companies coming up also goes up and starts
contributing towards the economy and in most
of the developing and developed countries they
are responsible for a major share of the
economic development. So there has to be a
solution to help these start-ups.
It is rightly said “necessity is the mother of
invention”. This happened here too. A new
concept of cluster formation started getting
appreciation all around the globe. It worked out
for the MSME(s) very well.
It is a very simple yet strong and productive
concept. The idea is to bring them all together
and believed, “Together we Stand, Divided we
Fall”.
As discussed above most of the start-ups lack in
one or the other key ingredients to success. By
coming together, discussing their problems and
agreeing upon mutual cooperation, all of them
can help out each other.
And here comes the role of
forming“Innovation Clusters”. Cluster
formation solved the basic and frequent
problems.

Clusters of Micro, Small and Medium
enterprises can be seen across the globe and
since the early nineties cluster based
development of MSMEs has been adopted in
more than fifty countries. With a motto of
enhancing the competitiveness of MSMEs and
generating sustainable employment, Ministry
of small scale industry, Government of India
and the United Nations Industrial Development
Organisation conceptualised and initiated the
process of creating the Foundation for MSME
Clusters to contribute towards this process of
cluster based development of MSMEs.
Subsequently, the Foundation was legally
constituted as a non-government, non-profit
registered trust under the auspices of the
Entrepreneurship Development Institute of
India, Ahmedabad, in the year 2005.
th
The President under Notification dated 9 May
2007 has amended the Government of India
(Allocation of Business) Rules, 1961. Pursuant
to this amendment, Ministry of Agro and Rural
Industries and Ministry of Small Scale
Industries have been merged into a single
Ministry, namely, “MINISTRY OF MICRO,
SMALL AND MEDIUM ENTERPRISES
The major advantage of the sector is its
employment potential at low capital cost. The
labour intensity of the MSME sector is much
higher than that of the larger enterprises. The
MSMEs constitute over 90% of total
enterprises in most of the economies and are
credited with generating the highest rates of
employment growth and account for a major
share of industrial production and exports.As
th
per available statistics (4 Census of MSME
Sector), this sector employs an estimated 59.7
17
METAMORPHOSIS
million persons spread over 26.1 million
enterprises. It is estimated that in terms of value,
MSME sector accounts for about 45% of the
manufacturing output and around 40% of the
total export of the country.
Currently there are a large number of
innovation clusters operating in India. They
even have their own secretariat for the proper
management and problem solving of the cluster
members each having a very large number of
member companies. For example the NCR
based, Information and Communication
Technology(ICT) Cluster has 2400 member
firms contributing towards a turnover of
Rs.4,75,000 million with an overall manpower
of 3,00,000.
This way the “void” in one member firm can be
fulfilled by other member firm. This completely
stands with the line quoted by Johann Friedrich
Von Schiller, the famous German dramatist,
poet and historian “Even the weak become
strong when they are united”
-Neha Rajput
Deputy Secretary, E-Cell
-Ravikiran Sahajan
Treasurer, E-Cell
 METAMORPHOSIS

Centre of gravity
Migrating west to east
Since many years, the centre of gravity of Also these two countries are included in the
economic world is located in west with acronym BRIC coined by Jim O'Neill in a
countries like United States and Britain. They 2001 paper entitled "Building Better Global
have been ruling the economic world with Economic BRICs” referring Brazil, Russia,
their strong economies but as time never rests India and China. The acronym has come into
the sun of new economy has begun to rise widespread use as a symbol of the shift in
from east. global economic power away from the
Countries in east such as China and India are developed G7 economies towards the
now emerging with a significant pace. They developing world in which China will lead the
are impending with a hefty growth rate. Many avenue of economy followed by India.
st
economists accepted that 21 century will be Although there are few countries that are
driven by them. growing faster than India and China like
The reason for this sound growth is high Eritrea and Qatar but they are not big enough
domestic demand as India and China to be said economic centres. Talking about
constitutes for about 37% of world population China, it is the world's fastest growing major
and in addition to that the skilled man power economy followed by India.
required to set up industries is available at So, as an Indian tighten up your shoes to be a
moderate wages. part of the swift coming through India.
Even western countries realize the evolving
market in Asia and are awfully fascinated to -Akashdeep Saluja
invest and take a ride over the growth story.
IPG2010-05
Visit of the powerful man on earth and the
president of the largest economy in the world
i.e. United States of America, Mr Barack
Obama to Asia also featured this fact. Warren
Buffet one of the top billionaires on earth
recently started investing in Indian economy.
On a visit to India for investment in insurance
sector, when asked about what he feels about
the economy, he simply said that is late by 20
years to invest here. He also added that it's not
turning out to be big, it's already big.

18

Manager vs. Entrepreneur
When you compare managers and
entrepreneurs you need to first look at the
definitions of both titles. A manager is
someone who directs a team and an
entrepreneur is someone who organizes,
manages, and assumes the risks of a business
or enterprise. When one compares managers
and entrepreneurs one needs to first look at the
definitions of both titles. A manager is
someone who directs a team and an
entrepreneur is someone who organizes,
manages, and assumes the risks of a business
or enterprise.
The difference between an entrepreneur and a
manager is like the difference between an
inventor and an engineer. One develops the
blueprints, the other ensures that the machine
keeps running well. Even when they're housed
in the same body, they are different spirits, and
one is not superior to the other. A business will
always benefit from a creative navigator to
plot its course, but it also needs steady hands
at the helm.
Entrepreneurs are great askers of “why not?”
They live in a world of opportunities with
their gaze fixed just over the horizon. They are
the ones who create, innovate, develop and
improve. The entrepreneurial spirit is
imaginative, forward-looking and optimistic.
It's where hunter meets artist as applied to
business, spurred in part by a desire to create,
and partly from a refusal to get good ideas get
away.
19
METAMORPHOSIS
Where entrepreneurs see potential and how a
business can grow, it's the managers who
make sure it thrives. They dry its tears, help it
with its homework and check that it's brushed
its teeth. It's popular to liken a manager to
general leading troops into battle. But this is
only a tiny portion of their work. The true
managerial spirit is closer to that of a tribal
chieftain whose concern is for his or her
people's welfare, and the peace, security and
prosperity of their society. To succeed it must
be underpinned by personal qualities such as
responsibility, sensitivity, moral courage and
sound judgment.
Moreover, an entrepreneur is generally
considered a leader. They will give people
tasks and a deadline and generally leave them
alone until it is completed. They will trust
people to get the job done without having to
constantly look over their shoulder. When
they hire someone they believe that they have
hired someone who is qualified to handle the
tasks before them, so they don't think they
should have to ask for status reports on an
hourly basis unlike Managers who just want
the task to round up irrespective of the quality.
Neither the manager not the entrepreneur is
superior but major differences as suggested in
the title rings true. Now, it is on the reader it
depends to whom his coin tossed shall make
way.
-Nanda Ambati
IPG2010-08

To do a job or make a job
An IIM-A student Mr.Shyam is in an intense
thinking about his future. He has been trapped
in a huge chaos to pick up the right route for
himself that is either to take a decent job with a
good package or struggle some more and set
up his own business.
He is not the only one; many are in the same
state and thinking deeply to switch to either
option. Now a day' many B-school pass outs
are opting for being an entrepreneur rather
than being an employee. They are aiming
high but its rational, as past itself is
evidencing and giving them more pluck to
become an entrepreneur. They have the
aptitude and their innovation gives them a
verge.
Many recent examples are like that in which
innovative ideas not just help to launch
business; they created their own kind of
market such as facebook idea by Mr. Mark
Zuckerberg, setting up of Subhiksha by
Mr. R Subramanian, naukri.com by Mr.
Sanjeev Bikhchandani and many more.
So the students also are thinking not to let their
talent go in some others hand, rather to use
their talent and innovation themselves which
could bring them up a millionaire or even a
billionaire. For them investment is not such
big hurdle as their innovation leaves them
with no competitors and also the support of
Angel investors is showering upon them.
20
METAMORPHOSIS
But on the other hand, doing a job is benign
means no such big risk is involved in it as in a
business. An individual will get decent
package quite free from uncertainty in market
up to a large extent. Also many agree that
doing job is easy, as not that much trauma is
involved as in running a business.
So an individual may have personal opinions
to exercise either of them. He can shuffle to
either side; it depends on his personal choice.
As it is rightly said
“To gain something, some other thing has to
be lost”
Inspiring
quotes
! Real success is finding your
lifework in the work that you love.
- David McCullough
! The test of the artist does not lie in
the will with which he goes to work,
but in the excellence of the work he
produces.
-Thomas Aquinas
- Akashdeep Saluja
IPG2010-05
 METAMORPHOSIS

DIFFERENCE BETWEEN ENTREPRENEUR

AND BUSINESSMAN
The first word that comes to our minds when
we think about an "Entrepreneur" is
"Businessman". In the common man's world
the two terms are often used interchangeably
when it comes to business and investment.
But actually these are quite a different
meaning terms .An entrepreneur is a person
who comes up with a new project of his own
new idea to start afresh form zero level of a
firm. Whereas a businessman is one who
works on an already established idea of an
entrepreneur. An entrepreneur has to come up
with a creative idea which can prove itself a
good competition in the market.
Being an “Entrepreneur” can take multiple
meanings. To an economist, an entrepreneur is
one who brings resources, labour, and other
assets into combinations that make their value
greater than before. To a psychologist, such a
person is typically driven by certain forces the
needs to obtain or attain something,to
accomplish, or perhaps to escape the authority
of others. To one businessman, an
entrepreneur appears as a an aggressive
competitor, whereas to another businessman
the same entrepreneur may be an ally, a source
of supply, a customer, or someone who creates
wealth for others, as well as finds better ways
to utilize resources, reduce waste, and
produce jobs others are glad to get
Although each of these definitions views
entrepreneurs from a slightly different
perspective, they all contain similar notions,
such as newness, organizing, creating, wealth,
and risk taking. Yet each definition is
somewhat restrictive, since entrepreneurs are
found in all professions-education, medicine,
research, law, engineering, distribution and
government.
The new concept of entrepreneur has to
establish itself, face unwelcome sometimes,
fall down and then rise up to a height so as to
gain customer acceptance and confidence.
Once the idea is welcomed and accepted in the
market, the entrepreneur himself or the
businessman carries the investment further.
Entrepreneur is related to the risk taking factor
of an investment. Businessman works upon
the ways to make the firm more successful and
to earn more profit, So in a way we can say
that an entrepreneur is also a businessman but
it doesn't fix well when we make it the other
way round!!
Thus we can conclude that Entrepreneurship
is the dynamic process of creating
incremental wealth. The wealth is created by
individuals who assume the major risks in
terms of equity, time and/or career
commitment . The product or service may or
may not be new or unique, but value must
somehow be infused by the entrepreneur by
receiving and locating the necessary skills and
resources.
-Archie Jain
IPG2010-111

21
 METAMORPHOSIS

Why be an enterpreneur ?
The first question that comes to one's being entrepreneurs as they are exposed to too
mind is why be an entrepreneur??????? For a much risk. One should never forget, that all
person with a lesser insight the reason would business risks that you agree on taking, should
be stacking up money. Is it really solely about be calculated.
monetary gains or has something meaningful Thus, entrepreneurship is carving
behind it. It is something that begins with just one's own path, undertaking the risk of
a novel idea and ends up into an exquisite pursuing one's passion, chivalrously bracing
establishment of one's vision, hard work, whatever comes in one's stead and watching
perseverance and indomitable determination. patiently the growth of one's endeavours.
Entrepreneurship enables an
enthusiastic employee to promote himself to
an employer. Consequently, he has the reins of
his enterprise in his own hands completely. He
everance
has the liberty to choose the ambience in ü Pers
s
which he wishes to work, his companions in
t e r p e rs o nal Skill
his venture and his own style of execution. He ü In
ke
i l li ng n ess to Ta
does not have to pertain to a pre decided ü W
ed Risks
format of work with limited scope but, Calculat
instead, bring forth his true potential.
ivation
ü Mot
t
nagemen
Moreover, being an Entrepreneur
i m e M a
gives a sense of accomplishment and ü T
responsibility of providing job opportunities
and thus contributing to the country's
economy. Compared to being regular - Itisha Jain
employees, entrepreneurs enjoy much
IPG2010-40
excitement beginning from the planning stage
of the business up to development and
realization. Thrill-seekers obviously love

22
 METAMORPHOSIS

INDIA, INDIANS.... UNPROFESSIONALISM, CORRUPTION,

RESERVATION, HYPOCRISY... WHAT ELSE?
It was my little brother in the 9th standard, be smarter than our forefathers, can someday
with whom I was having a very thought relive those moments of the pre 1835 era,
provoking discussion yesterday which when Lord Macaulay presented the very
somehow got focused onto the Indian famous testament to the Queen and House of
Education & its roots. Lord spraising India, Indians....Wealth,
Moral Values, Calibre, Self esteem...
A very widely debated & popular
subject, this would amount to millions of
light years of text if scripted with the views
of each and every Indian who knows what
Education is, though mine would take only a
single paragraph to speak out my mind.
Education in true sense cannot be
community education; it has to be education
for every individual following a standard
equation where constants are a few ethics
that need to be learned by each and every
one, along with a variable that is proportional
to the ambitions and capabilities of the The mathematicians around the globe,when
individuals. The importance of constants is they would understand the value of constants
million times more than that of variables, and in the Universal Equation of learning, would
the output of the equation is majorly only then be able to figure out ways to think
dependent on these constants. Britishers, not just India, Indians... Unprofessionalism,
probably being more shrewd than our Corruption, Reservations, Hypocrisy...
forefathers might have known this Universal
But a lot more beyond that...
Theory of Learning & Education much prior
to their invasion of our country, and were
therefore successful in creating a huge crater
-Prasoon Gupta
in our society that had grown bigger each and
every day since that day and continued to Techbuddy Consulting
grow even after they left our country, forcing
us to survive alone the major aftershocks of
this crater. Probably, if now at least we could

23
 METAMORPHOSIS

Glossary
Angel Investors
An angel investor or angel (also known as a business angel or informal investor) is an affluent
individual who provides capital for a business start-up, usually in exchange for convertible debt or
ownership equity. A small but increasing number of angel investors organize themselves into angel
groups or angel networks to share research and pool their investment capital.

NEN
One of such other organisation is NEN, which is revolutionising the techno-entrepreneurship in
today days maintaining a healthy balance between providing the essential technical stuff's for
beginners to providing services for MNC's. NEN provides critical support to start-ups and early-
stage entrepreneurs through high-impact entrepreneurship education; access to mentors and experts;
fast-track access to incubation and funding; and learning tools and materials

TIE
Tie's mission is to foster entrepreneurship globally through mentoring, networking, and education.
Dedicated to the virtuous cycle of wealth creation and giving back to the community, Tie's focus is
on generating and nurturing our next generation of entrepreneurs. Besides its flagship event,
TiECon - the largest professional conference for entrepreneurs, Tie now has a wide range of
programs including Special Interest Groups (SIGs), Tie Institute, Deal Flow Meetings, Tie Young
Entrepreneurs, and, most recently, Tie Women's Forum and CEO Forum.

Venture Capitalist
A venture capitalist is a person who invests in a business venture, providing capital for start-up or
expansion. Venture capitalists are looking for a higher rate of return than would be given by more
traditional investments. It may have no business experience applicable to the industry your company
is involved in, and is focused on the potential rate of return your company can provide.

Private Equity
Private equity investments are primarily made by private equity firms, venture capital firms, or angel
investors, each with their own set of goals, preferences, and investment strategies, yet each
providing working capital to a target company to nurture expansion, new product development, or
restructuring of the company's operations, management, or ownership.

24
 METAMORPHOSIS

Team E-Cell
Faculty Advisor Web Managers
Dr. Manoj Kumar Dash Vishwa Prakash Gayasen
Nishant Agrawal
Student Advisor:
Vaibhav Sharma Corporate Relation Advisor
Prashant Singh Rana
Secretary
Sidharth Singh Design Executives
Nitish Sharma
Convener Mariam Dairkee
Abhishek Jha DSSR Akhilesh
Nanda Ambati
Deputy-Secretary
Neha Rajput Promotion Executives
Sachin Acharya
Treasurer: Divya Jain
Ravikiran Sahajan
Promotion Executives
Design and Documentation Managers Chetan Pauri
Anshul Nigam Abhishek Dandona
Akshit Gaur
Event Executives
Event Managers Upendra Kumar
Priyesh Kumar Shranith Linga
Nishant Chaubey
Vipul Gandhi For any queries mail to:
secretary@ecelliiitm.org
Promotion and Public Relations
Managers
Shashank Singh
Sanyam Agarwal
Vikas Pandey