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This is an archive article published on November 13, 2008

Action Plan

Sometimes when a brilliant sketch is ready in the mind, luck comes along to turn it into reality.

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PEC students shine at Oxford’s competition with their vision for a future

Sometimes when a brilliant sketch is ready in the mind, luck comes along to turn it into reality. For PEC students Manish Kumar, Mitin Kumar and Mohit Bharti, Oxford University’s Youth Business Development Challenge ‘08 was the magic wand. Their idea – to make online commerce accessible to a larger customer segment. The reward – third prize and 250 British pounds, among entries from all across the globe. “We want to be entrepreneurs so this award is a great encouragement for us,” smiles Manish, the team leader.

“It was around January that the contest was announced. In March we submitted a single-page plan of our idea. From those entries top 33 plans were selected from across the world. Each team was assigned a mentor. Anil Aggarwal was a great guide to us throughout the project,” they take us through the procedure. The lines they had to work on were social entrepreneurship, how to improve the lives of those who aren’t at par with the rest of the society. “Many people in India fall under that bracket. For example, STD operators are losing business. Our aim was to get these STD booth operators involved and reach out to those people who have potential money to invent but no channe to exploit. Sp, at a booth every two kilometers, people can register with us through computers. For every Rs 100, we would charge Rs 2 as processing fee,” explains Manish. How realistic is the idea? “Thanks to our mentor, we have worked out everything quite realistically, be it finances or the organisation structure. We also know that if it is not making profit, so it’s no good a business,” Mitin keeps it real. The team will be implementing its plan in Chandigarh soon. Since it’s entrepreneurship they dig into, next on cards is a local search content for youth activities. “Aspirations are high among college students but they need some inspiration. We want to do something serious, not just what youngsters like and don’t like.” Something to watch out for!

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