Kolkata, Sept. 27
S.P. Jain Institute of Management and Research has hosted `Lock, Stock & Trade', an annual event aimed at motivating young people to become entrepreneurs.
The event, designed in association with National Entrepreneurship Network (NEN), will lead students towards entrepreneurship as well as to increase their awareness on various issues related to the capital market, it is felt.
Lock, Stock & Trade, according to Prof Suresh Rao, in charge of the event at S P Jain, involves an IPO stock trading game which comprises analysis of real business. The results are presented to an audience who act as bidders for the mock IPOs.
The stocks are allotted through bidding and price discovery is done by market forces.
The winners are `investors' with highest value portfolios, while the winning company is the one that secures the maximum oversubscription.
The event this year has featured 500 participants, including students, entrepreneurs and professionals, it is pointed out. The family managed businesses featured in it included players representing such industries as logistics, garments, stationery items and fast food.
It may be mentioned here that NEN, supported by a US-based foundation, hopes to encourage new entrepreneurs in the emerging markets. It was launched in 2003 by five founding partners in India IIT Bombay, IIM Ahmedabad, S P Jain, BITS Pilani and the Bangalore-based Institute of Bioinformatics and Applied Biotechnology.
`Start your business'
S.P. Jain now plans to offer a special Start Your Business programme, aimed at working executives and professionals, including young representatives of family-run businesses.
The latter, it is felt, often have smart but rudimentary ideas, ones that be polished up to create profitable ventures at a later stage.
The Centre of Entrepreneurship at the institute has created a number of programmes, catering to four key stages of what has been termed as the `entrepreneurship life cycle' awareness, interest, start up and growth/turnaround.
"We hope to start this in early 2006. The programme will cover 16 week-ends", Prof Rao said, adding that a number of financial institutions with their contemporary focus on SMEs are keen to see how it takes shape.