ENTREPRENEURSHIP, NEW VENTURE CREATION AND FAMILY BUSINESS Assignment

This assignment provides an overview of entrepreneurship, focusing on the personality traits and business models of successful entrepreneurs and companies. It analyzes the ventures of Ritesh Agarwal (OYO Rooms), Falguni Nair (Nykaa), and Luis von Ahn (Duolingo), highlighting their key characteristics and strategies. The assignment explores the opportunities that arose during the COVID-19 pandemic, especially in language learning. Additionally, it provides information on micro, small, and medium enterprises (MSMEs), including investment criteria, stock exchange options, and resources from organizations like SIDBI, Atal Innovation Mission, and Wadhwani Foundation. The document also includes information about business models, customer segments, value propositions, and revenue streams, offering a comprehensive understanding of the entrepreneurial landscape.

ENTREPRENEURSHIP, NEW VENTURE CREATION AND FAMILY
BUSINESS (Dipanjay Bhalerao sir)
27th January
Ritesh Agarwal (OYO Rooms) & Falguni Nair (Nykka)
Personality traits – ambitious, determined, curious, unique, focused, gratitude,
perseverance
28th January
Duolingo – Luis von Ahn
Philanthropic - Von Ahn saw in his home country, Guatemala, that learning
English was expensive for people, but he believes that “free education will really
change the world”. So he developed Duolingo The website and app are
accessible without charge while offering a premium service for a fee.
Passionate - Von Ahn’s interest has been improving the world using human
skills in computer technology.
For example, Von Ahn’s PhD thesis was the first work on Games With A Purpose,
or GWAPs, which are games played by humans that generate useful information
as a side effect.
He has also been trying to digitalize millions of old books and make them
searchable online.
Innovative - In 2007, Luis von Ahn invented reCAPTCHA, a new form of
CAPTCHA. ReCAPTCHA was sold to Google in 2009 and the service is known to
display several hundreds of million CAPTCHAs every day.
From the Central American nation of Guatemala, he went to the US in 1996, aged
18, to do a maths degree at Duke University in North Carolina. After that he
studied computer science at Carnegie Mellon University in Pittsburgh.
He specialized in "human-based computation", which in very simple terms is how
humans and computers can best work together to solve complicated tasks.
29th January
Opportunities in covid-19
Learning a language to feel connected to people around the world. Learning a
new language has proved to be a popular hobby among those in lockdown,
as Duolingo’s 2020 language report reveals a surge in downloads of the app.
A renewed commitment to multilingualism within society, and to languages
within education, is critical to preparing present and future generations of
citizens who will be responsible for building international collaborations and
fostering harmony at home.
Duolingo steps in to support online classrooms at home

Classroom language learners have long turned to Duolingo as a tool to
complement school lessons and give them a fun, varied way to learn a language
on their own time, at their own pace.
Compatible to practice for tests like TOEFL and IELTS.
1st February
https://hbr.org/2013/05/a-better-way-to-think-about-yo
2nd February
Nykaa Business model:
Key partners
Customer segments
Key activities
It offers beauty and wellness products
The idea is to bring the offline shopping experience online and provide a store-
like shopping experience to digital customers
Key resources
Nykaa sells more than 35,000 products from 650 brands.
It deals in high- end products from brands like MAC, Lakme, etc.
Value propositions
They provide easy shopping experience, the virtual makeover tool, beauty
advice, tutorials and celebrity looks.
Customer relationships
Creating customer satisfaction
Educating people about the USP’s of the different products
Recommending specific products based on their unique needs
Channels
Nykaa has online as well as offline presence in 35 stores
Nykaa has two store formats – Nykaa Luxe and Nykaa On-Trend.
The Luxe format features luxury beauty brands.
The On-Trend format features curated products by category based on their
popularity.
Cost structure
The costs include the salaries paid to employees, maintenance costs and the
marketing costs.
Inventory Model:
The company stores the stock of goods purchased directly from manufacturers.
They store the products in their warehouses.
The products are sold directly from there.
In this, the profit margin is high.

Revenue streams
They purchase directly from the brands.
This helps in getting high commission over the products.
They do not provide discounts themselves.
The brands give discounts that do not reduce their commission.
3rd February
Micro enterprises: Investment in plant & machinery or equipment < 1 cr and
annual turnover < 5 cr
Small: Investment in plant & machinery or equipment < 10 cr and annual
turnover < 50 cr
Medium: Investment in plant & machinery or equipment < 50 cr and annual
turnover < 250 cr
Stock exchange for MSME
BSESME: 3 – 25 cr
NSE Emerge: 25 cr
District Level
DIC – District Industry Centre e.g. Pune DIC
www.doingbusinessinmaharashtra.org/DIC_schemes.aspx
SIDBI (Small industrial development bank of India) – www.sidbi.in
SISI (Small industries service institutes) –
www.examnightslive.wordpress.com/2017/05/06/small-industries-service-
institutes-sisis
www.laghu-udyog.gov.in/sido/sisi/6.htm
www.dcmsme.gov.in/publications/PoliciesSchemesProgramme.html
State level
Ministry of Skill Development and Entrepreneurship - www.msde.gov.in/en
https://msme.gov.in/
www.niesbud.nic.in
Atal Innovation Mission (also see pdf downloaded) – https://aim.gov.in/
Global level
Wadhwani foundation – www.wfglobal.org
The IndUS Entrepreneurs – https://tie.org/

To learn entrepreneurship (academic) – www.ediindia.org
MIT – https://entrepreneurship.mit.edu/
4th February
6th February