Mumbai's college festivals are nothing short of a celebration of youth on a grand scale. But this year, with the economic crisis, many companies are slashing budgets.
College festivals are beginning to feel the pinch of recession, but student organisers are keeping their chins up, and devising innovative ways of raising funds
Brightly-lit auditoriums, a myriad of competitions, thousands of students, and sponsors’ banners fluttering in the breeze: Mumbai's college festivals are nothing short of a celebration of youth on a grand scale. But this year, with the economic crisis, many companies are slashing budgets set aside for college festivals.
"If you would have come last year with the same proposal, we would have signed it instantly, but...," is the stock response given to the mass media students from KC College, while they were searching for companies to sponsor their annual media festival, Blitzkrieg, to be held in December.
"Everyone is ready to give sponsorships in kind, but a cash deal is getting tricky," says Tazeen Sayeed, who is handling the marketing for the event. Sayeed is constantly in touch with companies and media houses, and states that the cloud of recession hovers close to any discussion regarding money.
Even the biggest college festival in Asia, IIT Powai's Mood Indigo 08, has been beset with sponsorship problems. And although they have managed to collect Rs1.2 crore — after four months of hard work — their stories echo those of the KC collegians.
Abhishek Mittal, chief co-ordinator, Mood I 08, says, "Even though ours is one of the most respected festivals in Asia, companies were sceptical about handing out big money." So, the clever marketing team decided to change their sponsorship specifics.
For example, they decided to increase the number of associate sponsors from two to three. They even set higher target company goals, and approached companies from various sectors. "It's been a little more hard work than usual, but it's worth it. We knew a few more rounds weren't going to do us any harm," says Mittal.
One of the main reasons, however, IIT managed to draw in sponsors, is the fact that Mood Indigo is one of the most sought-after festivals in the city, and offers sponsors an excellent platform to showcase their brands.
But for colleges whose festivals are smaller, and have a lower profile than Mood I, the pinch is beginning to ache. Ramnarain Ruia college, for example, has two major festivals coming up in December Utsav, and Aarohan, and the marketing team has been sprinting around plush corporate offices, in search of sponsorship.
The college's general secretary, Aseem Naphade, has made it a point to study financial magazines and newspapers. "The liquidity crunch is making it really difficult for us to get big sponsors. But we aren't going to compromise on our festivals," he says, promising that this year's festivals are going to be bigger than ever.
And that's where the youthful ray of hope shines bright. Tough as times may be, these college students are striving to make sure that their much-anticipated festivals aren't hampered. "It's the toughest time to organise any college festival, but then neither is it impossible," says Mittal.
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