The young founders at iB Hubs Startup School had a chance to meet and discuss their ideas with Governor of Andhra Pradesh and Telangana, Shri. ESL Narasimhan.
The Hon’ble Governor embraced the young minds for taking entrepreneurship at such a young age and trying to bring a phase shift in the country. He also shared his ideas on Startup Mindset and the importance of ethics in doing any business. And he said that the youth should work on Healthcare, Sustainable Energy, and Education sectors as these are of prime importance for inclusive development and country’s growth.
Adding to the wide attention and encouragement it got, iB Hubs Startup School is now under the patronage of Govt. of India’s initiative “Startup India”
How to Acquire Customers and Keep Them, too!
The week started with completing a deep exploration of ‘Minimum Viable Product Development’. Then, every startup plunged into learning about various Traction Channels. After a fascinating discussion on how a particular set of Traction Channels is unique for a startup, the founders refined their Channel Execution Strategy.
The young entrepreneurs used the “Bullseye Framework”. And, working on it, they found the right channel for their own startup according to the stage of their business and reduced their Customer Acquisition Cost while improving the Customer Lifetime Value.
External Mentor Connect
This week, every student startup was connected to a mentor of their focus sector. The startups will be getting easy access to insights in their respective industry and get connected to important stakeholders at the right time.
Learning from the Masters Themselves
The young founders met and interacted with Praveen Dorna, Founder of StartupByte and COO of OUCE Labs, and understood the nitty-gritty of Business Model Development.
Ms. Radha Alekhya, CEO of iB Hubs, and Mr. Rambabu Kondru, CFO, interacted with the student entrepreneurs, and gave them insights into ‘Team Building and Culture’ and “Finding the right mentor” respectively.
A special session on “Basics of Financial Accounting” was held to enable the startups to keep track of how their bootstrapped money is flowing. And, various activities were conducted to deepen their understanding of ‘the fundamentals of building the right culture’, ‘assigning tasks among teammates’, ‘using right kind of frameworks’ and much more.
Let’s wish best of luck to these young founders in making a better future for all of us.To know more about iB Hubs Startup School visit http://ibhubs.co/startupschool/.