Real-life projects to hone business skills

Educationists have long held that if learning becomes fun, it also becomes quicker. So, two business school festivals last weekend — Prayaag at the Jamnalal Bajaj Institute of Management Studies (JBIMS) and Lakshya at the National Institute of Industrial Engineering (Nitie) — focused on events and contests based on real-life projects, case studies, and strategies to hone the business/managerial skills of students.

Lakshya (Friday-Sunday) saw budding student entrepreneurs compete in the ‘B-Plan’ contest. The organisers even lined up venture capital firms to award winners with business accelerator programmes and seed capital of up to Rs1 crore.

“The festival sees students with diverse profiles,” said Vamsi Bargav, coordinator for Lakshya. “For instance, last year’s winners were medical students who started a chain of clinics.” The winning team is also mentored to convert its plan into an actual business.

A shorter, but tougher, version of B-Plan was the ‘Elevator Pitch’, a contest in which students and working professionals got just two minutes to prove the potential of their business plans. “It provided a platform for aspiring entrepreneurs convert their ideas into commercial success,” said Chintan Mathur, media relations coordinator, Nitie.

‘Navkriti’ was for start-ups where companies not more than two-and-a-half years old presented their business ideas to venture capitalists and funding bodies. The contest had a seed capital funding option of up to Rs5 crore.

Moving from theory to actual case studies, students got to see companies presenting successfully implemented projects at ‘On-the-Job Achievers’. The contest covered supply chain management, systems and IT management, general and human resource management, and operations management. “Since we invite live projects from industry, students learn the practical aspects of handling projects,” said Bargav.

Prayaag (also Friday to Sunday) showcased various aspects of management. In the paper presentation competition, B-school students gave Bank of Maharashtra specific strategies to promote the financial inclusion of low-income groups. “Since they worked on an actual project, the experience of researching, strategising, and presenting before panellists who are already in business is sure to benefit students,” said Richa Arora, a member of Prayaag’s organising committee.

‘Funds of Funds’ was an online simulation of real-life portfolio management. “In the elimination round, participants worked as fund managers and chose from 13 exchange credit funds of the Benchmark Asset Management Company to maximise their portfolio value. “The ‘Best Business Brain’ contest tested the mettle of management students in multiple rounds of quiz, group discussion, solving real-life cases, team work, and interviews,” Bijoy Shah, a member of the organising committee, said.