Ever wondered what it takes to be an entrepreneur? The professional and personal challenges, the high and lows, the failures and the success?
Startup Weekend is a global grassroots movement of active and empowered entrepreneurs who are learning the basics of founding startups and launching successful ventures. It is the largest community of passionate entrepreneurs with over 1800 past events in 120 countries around the world in 2014. Today we speak to Mr. Nivas Ravichandran, an IEEE volunteer at heart of this program.
Nivas, tell us a little about yourself and your IEEE involvement.
I am Nivas Ravichandran and I work as a Growth Specialist at a startup called Frilp. I have been an IEEE Volunteer for the past 6 years and have organized more than 150+ events under IEEE. I belong to IEEE Madras Section and I volunteer with IEEE Region 10 as a member of the Electronics Communication and Information Management (ECIM) committee. I am also a part of the IEEE India Strategic Initiative in the Entrepreneurship Wing to foster Entrepreneurship amongst IEEE members across India. I am very passionate towards IEEE and love to give back to the society. A Social Media savvy person too.
Mr. Nivas Ravichandran, IEEE Young Professional driving Entrepreneurship
What is Startup Weekend Chennai, how did it come about and what role does an IEEE volunteer such as you play in this?
Startup Weekend is a three day event during which groups of developers, business folks, startup enthusiasts, marketing gurus, graphic artists, aspiring entrepreneurs and many others pitch ideas for new products, form teams around those ideas, and work to develop a working prototype, demo, or presentation by the evening of the third day. Startup Weekend Chennai was started in 2014 and this is the 4th Edition with a specific focus theme on Finance Technology. Finance Technology encompasses organizations and applications that provide financial services through the engagement of technology. During the three days, ideas were validated, user research was conducted and a minimum viable product was built over a period of 54 hours. I was an organizer of the Startup Weekend Chennai and IEEE Madras Section Young Professionals also partnered with Startup Weekend Chennai to help reach out to Students and Young Professionals across cities. IEEE members were provided an exclusive discount to be a part of the event.
Whether entrepreneurs found companies, find a cofounder, meet someone new, or learn a skill far outside their usual 9-to-5, everyone is guaranteed to leave the event better prepared to navigate the chaotic but fun world of startups.
Who are the participants of the startup weekend?
The participants comprised predominantly of three categories – Hustlers (Business folks), Hackers and Designers. There were 110 participants from industry and academia from various parts of India in the age group of 17 – 55. It must be said that a majority of them were in their the early 20s. In total we had 36 Pitches and 15 Teams formed during the FinTech Edition.
Who are the mentors and coaches in the program? Can you highlight a few of the key personnel?
The program had 7 mentors, 2 speakers and 5 judges for the event. The mentors included Ashwini Asokan (CEO, Mad Street Den – An Artificial Intelligence and Computer Vision based Startup), Deepak Natarajan (AVP Growth, Freecharge – An Online Recharge Application), Vijay Babu (Founder – India Operations, Altiscale), Krish Subramanian (Co-Founder & CEO, Chargebee Subscription Billing), Alladi Ram, CR Venkatesh & Ramanathan RV. As it is a Hackathon format of an event, there were not many speaker sessions. We hosted 2 lightning talks from Harshal Deo (VP Data Technology – Paypal) and Anupam Pahuja (GM APAC Technology Paypal). The judges comprised of senior folk in the FinTech space from Chennai and a few Angel Investors.
Interaction and Mentoring
Can you tell us about some of most impressive ideas you have had a chance to hear about this weekend?
There were 36 ideas pitched out of which 15 were short listed based on voting by the participants. A few of the interesting ideas were
Paysnap – A system that optimizes your online transactions while maximizing returns
Loan Sense – Helps monitor your loans against new loan schemes in financial market
Smartpay – An app that enables local merchant who do micro transactions to accept digital payments
PrepayR – A platform to help SMEs sell their Account Receivables to Banks and increase profits.
The IEEE Young Professionals group has started to focus on Entrepreneurship as one of its key projects. In your view how can the IEEE Young Professionals help IEEE members with entrepreneurship?
I believe it is the right time for IEEE Young Professionals to start focusing on Entrepreneurship. IEEE YP could play a very crucial role in encouraging IEEE Student and other members to pursue Entrepreneurship. We could organize Section Level or Country Level meet-ups, talks and Hackathons for members to come up with ideas, interact and find the right talent to form teams. If we start setting the stage for young professionals to meet and share ideas in the right platforms we could automatically foster Entrepreneurship among the members. In India (Under the IEEE India Strategic Initiative), we are also working on an Entrepreneurship Development Program, which prepares IEEE Student and Young Professional Members across multiple cities. We recently piloted the program in one of the cities and had an amazing response and reach. In a few months, we are expected to launch the same program across multiple cities in India.
Ideation and Validation
The IEEE GOLDRush team thanks Nivas Ravichandran for his contribution to today’s article which should serve as an inspiration to all IEEE members. We look forward to hearing more about the great ideas and initiatives as a result of the startup weekend.
Interview conducted by Dr. Eddie Custovic, Editor-in-Chief, GOLDRush