Do you have an entrepreneur in you?

What does it take to start a company of your own? Is it money, vision, belief, courage? Any entrepreneur would tell you it is all this and more! The way there is a method to madness, similarly there is a method to becoming an entrepreneur.

Many college goers don’t harp on corporate dreams anymore, thanks to the entrepreneurial vibes in the air. Most college students are attracted by the prospects of making an idea the central point of their life and experiencing the obsession of starting a venture.

Meet Hullas Arora, a final-year student of Shaheed Sukhdev College of Business Studies (CBS), University of Delhi who is burning the midnight oil preparing for his semester exams. Though he has a placement offer from a leading MNC, Arora is contemplating if he wants to take up the job or pursue his dreams.

Says he, “I happened to visit the corridors of a leading MNC and was shocked to see the fate of the employees. Everyone was glued to their computer screens and didn’t budge even for a second. The atmosphere was eerie and reminded me of a mortuary. I can’t imagine myself to be sitting like this someday.”

Chances are that Arora would not even need to cross the corporate corridors if things materialise as per plan. “I have so many ideas, and plan to start various ventures,” he says. However, at present, Fabrica (a venture started by him and his friends) is his motivation. “Fabrica India is a business organisation that deals in corporate merchandising and has developed a reputation for providing quality apparel, corporate gifts and promotional products at competitive prices. We have made a strong footing in the industry and want to take it further,” he adds.

The inception of Fabrica India goes back to close to a year. Recalls Pulkit Bakshi, co-founder Fabrica, “I had a marketing company and was finding various associates for it including apparel partner and associate too. Meanwhile Varsha Chaudhary, (Business Development Head, Fabrica India) who was then the vice president of Gargi College, wanted to get some T-Shirts made for her college. So we set out together looking for quality suppliers who would give us good stuff at reasonable prices. Luckily, we were unable to find anyone and Varsha sensed some scope here. She had an interest in fashion, and this industry offered abundant scope for her. So one of those days we spent a lot of time talking about this. One thing led to another and finally we decided to open our own company. We ransacked all our contacts and exploited our entire network for finding and organising the best suppliers, distributor’s, designers, delivery guys, etc.”

After a year, Fabrica is a brand many reckon with. But was the start as smooth? “From starting with only two people referred to as T-Shirt vendors by the people, Fabrica India today has eight core employees, numerous sub-employees and interns. From just being a startup to a registered legal entity, and from a facebook page to having a full-fledged website, we have come a long way. We worked towards market capitalisation for eight straight months after which we decided to get our company registered, get it a website, hire employees and expand it to other corporate and institutional sectors. We used all our earnings from Fabrica to get all these things done and organised a team of efficient committed and talented people to help Fabrica achieve its potential. Today, we are as a registered organisation called The Fab Enterprises, carrying the Brand Fabrica India,” prides Pulkit.

Ask him what next about Fabrica and him and he says, “We today are one of the largest and fastest growing merchandising brands of the country and plan to come up with our stores soon which shall mark every prominent street of the country in no time. We have become synonymous to quality, client delight and punctuality and we wish to now become a synonym to merchandise.”

With like-minded friends, Hullas plans to strengthen his entrepreneurial roots. “The future plan is to float a few ventures and work on taking them to a certain level. I have come to realise that closed door jobs are not my cup of tea.”

Economies across the globe are relying on Entrepreneurs

Entrepreneurship has never been so big. In fact, economies across the globe are relying on entrepreneurs who can innovate, create , lead and expand firms into successful and ethical operations . Also, to be successful in global markets, one needs a good understanding of financial models today.

With this in mind, Kenan-Flagler Business School, University of North Carolina, is introducing the Summer Business Immersion programme, which aims to develop the next generation of business leaders.

The programme is open to undergraduate students from across the world, currently enrolled in a university. While 30-40 students from across the world and the US are going to be part of this programme, it aims to provide knowledge pertinent to the development of the next generation of successful and responsible business leaders , be it entrepreneurs, investment bankers, security analysts, consultants or general business executives.

Students will participate in an entrepreneurship and business planning class, as well as a financial modelling class taught by Kenan-Flagler instructors. In addition, explains Jayashankar M Swaminathan, director, UNC Centre for International Business Education and Research, Kenan-Flagler Business School, "they will learn from academics and business leaders in a series of lectures and company visits as part of the business insights ."

As to the strengths of the modules, Swaminathan says the class will include meetings with real and serial entrepreneurs, along with team work, to develop a business plan for students' own ventures, and practice of presentation skills to make a business pitch. He further adds, "The financial modelling class develops skills in designing and constructing financial models for analysing a variety of decisions — problems facing today's financial managers and professionals. The finance class takes place in Kenan-Flagler's state-of-the art Capital Markets Lab."

The lab provides a real-world setting for students to use information and complex analytical tools to manage assets and add value for future clients. Finally, the programme consists of field trips to industries. What is it that the school is looking for in students? "We are looking for motivated and dynamic students with an interest in entrepreneurship and a drive to become future leaders. Students need to be able to work in teams and enjoy hands-on , experiential learning," says Swaminathan.

Upon successful completion of the programme, students will receive UNC credit (six US credit hours) and a UNC transcript. Cost of the programme will come to $5,900 (approx) and housing costs will amount to $855 (approx).

Eligibility criteria

• Students need to be currently enrolled as undergraduates in good standing at their home university
• Have a minimum equivalency of a grade point average of 3.0 (on a 4 point scale; equivalent to a B average). For international grade conversion, go to www.wes.org/gradeconversionguide
• Have completed basic courses in corporate finance and financial accounting
• Be proficient in computer spreadsheet (Excel) use
• Be fluent in spoken and written English (proven by your TOEFL or IELTS score)

WHEN TO APPLY?
The 2013 application and instructions will be posted on www.ciber.unc.edu/summerbusines simmersion