IMT Hyderabad organizes Ortus; envisons to promote entrepreneurship in E-commerce

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MBAUniverse.com News Desk |
February 19, 2015
Entrepreneurship Cell, Prarambh at IMT Hyderabad organized Ortus 3.0 on Feb 12, 2015 to inspire and promote entrepreneurship in e-commerce
A budding entrepreneur should focus on changing the status-quo rather than on the monetary benefits he would achieve

Institute of Management Technology (IMT) Hyderabad focusing on providing a platform for its students to interact with the eminent personalities of the business world, its Entrepreneurship Cell, Prarambh  organized Ortus 3.0 on Feb 12, 2015. ‘Ortus’ meaning sunrise or a new beginning, resembled the overall concept of the event. The event was initiated in the year 2013 and is being successfully organized since then. It involves the participation of panelists, primarily Founders or Entrepreneurs, who come from different backgrounds for a panel discussion on a certain theme.

Ortus 3.0 was dedicated to E-Commerce. The theme for the panel discussion was “Sustaining the momentum in E-Commerce”. Various panelists from the E-Commerce field were invited to share their business acumen and inspire the budding entrepreneurs of IMT Hyderabad. Prominent among them were Mr. Rishi Yadati, the CEO and Founder of giftinginc.com; Mr. Murali Bukkapatnam, the CEO and Co-Founder of Domestic Workforce Pvt Ltd (getdomestichelp.com) and also the President of TIE Hyderabad; Mr. Dasradh Ram Nutakki, the CEO and Founder of YNew (ynew.in) and also the Managing Director of Sloyd Ventures Pvt. Ltd; Mr. Maruti Konduri, the Co-Founder of cracku in, who also drives the Product Development for Cracku.

Mr. Maruti, the youngest entrepreneur among the speakers, told that the fear of failure which is inbuilt in everyone should not be a hindrance to become an entrepreneur. He inspired the students by saying “If you do not start, you will never be able to do it. And you should first be in the journey to enjoy the journey”.

Mr. Dasradh Ram, who heads a franchise conglomerate, spoke about how the desire to create value for others motivated him to emerge as an entrepreneur. Franchising is a common phenomenon in the U.S market where almost 300 sectors are franchised but is a very rare phenomenon in the Indian market. In order to explore this arena, he established Sloyd Ventures Pvt. Ltd., the first franchise conglomerate in India.

Mr. Rishi, the “techno-marketing guy” believes that e-commerce enables the things that occur online. International Floral Delivery exists in the Indian market from the past 75 years, but gifting of other categories is something which was unexplored. By establishing giftinginc.com, Mr. Rishi became the first to start catering to those needs.

Mr. Murali learnt to be an entrepreneur en-route. The mistakes that he committed were his stepping stones to success. Speaking about the necessity of an MBA degree, he said that it is the rough tides in life that teaches an individual to become an entrepreneur. 

E-Commerce is a booming industry but only 10% of the market has been exploited in India. The panelists discussed if the hybrid model i.e. a combination of brick & mortar and online business model would be a success in India. Mr. Dasradh approved it saying that the Indian market is discount driven and the consumers purchase the products on impulse. It is when they can feel the products in the physical world only then can they trust them in the virtual world.

The panelists emphasized on the vision that an entrepreneur should possess. A budding entrepreneur should focus on changing the status-quo rather than on the monetary benefits he would achieve. Execution of the idea is also crucial and identifying the right co-founders for the same is necessary. Being aware of what the competitors in the market are doing is essential in order to run a successful company. Entrepreneurship is more about being agile and adaptable to the changes in the market. The ecommerce market is technology driven and is often susceptible to changes. Therefore, to sustain the momentum in such a world, ability to adjust becomes a driving factor.

The discussion ended with the panelists encouraging the students who aspire to be entrepreneurs to “go for it”. “Entrepreneur ship is beautiful, just go and try and try to try it longer” quoted Mr. Rishi inspiring those students who have held themselves back due to risk of failure. Mr. Maruti stressed that an entrepreneur must be optimistic. He said, “Be ready to fail. It is okay to make mistakes, but make sure that you do not repeat them. Be optimistic.” He urged the students not to wait until all the options die out but to make the right decisions at the right time.

About IMT-Hyderabad

IMT Hyderabad started functioning in July-2011 with a two-year full time PGDM program. The Institute has a 30 acre campus situated near the Rajiv Gandhi International Airport in Hyderabad. The PGDM program has an innovative and industry relevant curriculum with integrative courses that provide a holistic picture and learning about real life business situations and problems.

The Industry centric approach is reflected in its extended internship program, which a student undertakes during the intervening period between first and second year.

Stay tuned to MBAUniverse.com for more updates on IMT Hyderabad