Ghazala Tabassum who has started 'Just Tea' outlet in the IIM Lucknow campus will graduate in March, but she is more concerned about raising Rs. 50 lakh to open branches of 'Just Tea' in other campuses, reports Peerzada Abrar of Economic Times.
Family and angel investors, or high-net-worth individuals have been providing the capital necessary for these early stage companies, says Alok Mittal, Managing Director of venture investor Canaan Partners India. "I think the academia at various management and technology institutes can play a great role by becoming angel investors themselves and help young students who want to become entrepreneurs," he says.
Shalabh Agrawal from IIM-Indore plans to collect and dispose of solid wastes and recycle it through a venture he hopes to start with an investment of Rs. 50 lakh-Rs. 1 crore. "In India, municipal corporations cannot handle wastes well. We will focus on door-to-door collection of waste," Agrawal says.
Joining the bandwagon is Sumit Kumar Singh from IIM-Lucknow, who is engaged in making smokefree candles from wax collected from bees, vegetables and soyabean. He plans to scale up his family friend Nidhi Singh's venture 'My Sun Shine Candles' which makes aromatic candles with an investment of Rs. 5-10 lakh this year.
For students pursuing the post-graduate programme in management for executives (PGPX) and who already have a career, becoming an entrepreneur is proving to be more lucrative. Vishal Doshi, a PGPX student at IIM-A plans to manufacture and supply components for wind turbines in India.
