Finances of Startup

Entrepreneurship Cell (E-Cell IET Agra) organised a session based on “Finances of start-ups” on 16th November, 2019. Finances of Start-ups are of utmost importance as it has many aspects including dilution, pricing models, revenue model etc. Financial literacy not only involves the ability to count your money, it also tests your ability to evaluate the cost and benefits associated with each decision you make.

The session was inaugurated by Mr. Rahul Pandey  Chief Operations Officer at “ACIIE’’ New Delhi India. Entrepreneurship and start-up policies play a vital role in the economics and social development of a nation. In developing economics, these policies extend supports and start-ups in overcoming the numerous barriers while trying to promote their start-ups. Mr. Rahul Pandey started session with business strategies elements i.e. 3 F - FAMILY, FRIENDS and FOOLS. Firstly, he aroused confidence and motivated those who think about finance and start-ups or want to become an entrepreneur. Also he played a motivational video for audience. He described key elements of a start-up i.e. foundation, experience and growth. He explained in brief about pricing strategy i.e. cost based pricing, computer based pricing and value based pricing.

He explained do’s and don’ts of financial model. He also described funding of start-ups via cluster element and program element. India, China and Brazil have significant market potential and these countries have been designing and promoting entrepreneurship/start-ups policies among various stakeholders towards filling their demand – supply gap and at the same time creating employment opportunities. Overall session focused about students (owned) start-ups have contributed towards market expansion and job creation by setting financial aspects of start-ups.

So, it's concluded that achieving success is an ongoing process. There's not a one stop shop for making your dreams come true, but this session gave the students the tools which is needed to make the life as we want. Whether it's building on the one we have already created, or shifting to a whole new career path.