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CONTENTS Introduction EDC through the years BLUEPRINT’21 All India Collaborations Startups at EDC DECODING STARTUP JOURNEY BLOCKCHAIN FRENZY The Dark side of Entrepreneurship FINANCIAL FRAUD Startup Culture Pandemic AND ENTERPRISES Lessons from the Jungle Xaas: Everything as a service FUN ZONE 2 ENVISAGE EDC DDUC

INTRODUCTION The Entrepreneurship and Development Cell (EDC), Deen Dayal Upadhyaya College, was established in 2012 by the students of Bachelors of Man- agement Studies (BMS) with the aim of developing and strength- ening entrepreneurial quali- ties in budding entrepreneurs. The Entrepreneurship Develop- ment Cell, DDUC is now ranked amongst the top 10 entrepreneurship cells of Delhi Uni- versity after 9 years of active and efficient functioning. The Entrepreneurship Develpoment Cell of DDUC is an initiative which aims at cultivating the requi- site prowess for business and the ability to float new ideas in the minds of budding entrepreneurs through regular interactive sessions and activities. EDC believes in experimenting, taking risks and cre- ating something new and this, probably, is the un- derline idea which propels it to think different- ly and introduce new opportunities every year. EDC DDUC ENVISAGE 3

CONVENER’S MESSAGE EDC is one of the very few cells who make sure no stones are unturned to ensure that the goals of the students are accomplished. Owing to creative, innovative and professional conduct, the Entrepreneurship Development Cell has soared the heights of success. I closely follow the progress of the students and I believe that they will add tremendous value to the society and their peers. Dr. Rakesh Saini Convener IF THE APPLE HADN’T EXISTED, HOW WOULD THE WORLD BE? NO THORNS IN ROSES WOULD BE NO WONDER TO SEE. A WORLD WITHOUT SUFFERING IS ALL I ENVISAGE, A DREAM COME TRUE – THAT’S A WONDERFUL IMAGE. 4 ENVISAGE EDC DDUC

FROM THE ADVISORY Let us take you all on a small journey... 3 years back, when we walked through the college gate for the very 1st time, clueless and a little ap- prehensive of not knowing what was in store for me. I guess we were lucky enough to stumble upon the orientation of the Entrepreneurship Development Cell. It was the first society I interviewed for and probably that just changed everything for me. Born & brought up in a Business family, I have always had this ambition of starting something of my own, creating a prod- uct/service and providing employment to the society. This thought process attracted me more towards the E-Cell and just the rest of the council members as well. Entrepreneurship attracts us just like it attracts every newbie. Before 2018, there were a couple of years when our ex-members were just setting up the base. Under the leadership of Rachit, We got to learn & implement things as well as take charge of various initiatives and departments. The E-Summit in August 2018 was just a kickstart to the session. From Affluence to Blueprint, we man- aged to ace all our fests by inviting students, guest speakers, top entrepreneurs from all over Delhi/NCR. We were motivated to start something under EDC and that led me and our team to found ‘Book-O-Pedia’ which we ran successfully for over a year. And well, that year helped us in establishing us as one of the best E-Cells across Delhi University. I was honored to be made the President for the year 2019-2020, and our vision was simple - Activate, Educate & Inspire. We started off with one of the biggest orientations ever conducted in the entire DU Circuit with over 500+ Participants & Guest Speaker as amazing as Mr. Aman Dhattarwal. E-Summit 2020 witnessed amazing speakers from all over India like - Dr. Ritesh Malik (Founder - Innov8 Coworking), Mr. Saibal Sengupta (CFO, Orient Electric), Mr. Himanshu Kashyap (MD, SpeakIn), Mr Ayush Chowdhury (Founder, D For Delhi) amongst many others. E-Cells Meetup saw E-Cells of 15+ Leading colleges - Like IIT Delhi, NSUT amongst others competing in a day full of different events & competitions. Blueprint 2020 - Our annual fest saw participation from over 25+ Colleges across Delhi/NCR and over 300+ Students participating and competing in different arenas like Management, Marketing, Finance, Entrepre- neurship etc. We were active throughout the year and organized over 12+ Speaker Sessions, 5+ In house activities & mock competitions within our team. Indian Mobile Congress 2019 Visit & Entrepreneurship Awareness Camp in the month of January 2020 was just a cherry on the top. None of which wouldn’t have been possible without an amazing team of over 60+ members and the dear council - Yatin, Tanushka, Devansh, Aryan, Shruti, Vidushi. We left by passing on the responsibility in the able hands of the most dedicated & Hardworking juniors - Dhananjay, Vaishnavi, Anjali, Anisha, Mehak, Shraddha, Sanya & Kush. In the last one year being the Chief Advisor I have witnessed all of them putting in their heart & soul to take the legacy forward. Organizing and managing Blueprint 2021, Completely online and that too on a bigger and a better level. I’m really proud of you all & looking forward to the 1st year to carry the legacy forward and take EDC DDUC to great- er heights. Best wishes for the upcoming Magazine, celebrating the 10 wonderful years of the EDC Family. In the end We would just like to say that EDC is not just a society, it’s a gateway for you to come a step clos- er to your dreams, experiment, fail, & eventually achieve success. EDC has always been open for everyone who wants to make a change & will keep striving on to do so. You’re not just soc members in EDC, you’re a part of a big family! A family that’s gonna stay whenever you need them. This calls for a reunion. :) Warm regards, Abhay Agarwal (On behalf of the advisory council) President, EDC DDUC (2019-2020) Chief Advisor, EDC DDUC (2020-2021) EDC DDUC ENVISAGE 5

FROM THE DESK OF COUNCIL “It’s common knowledge that life is awash with astonishing developments, but only a select few bear the potency of transforming you, sometimes in unimaginable ways.” EDC was that development for me. On paper, the Entrepreneurship Development Cell keeps up with its namesake and displays promise in instilling the core values of entrepreneurship in you. In reality, however, it does so much more. It was a shy, naive kid who started his journey in college with a prodigious orientation session of the cell, little did he know it was going to change his life forever. From tapping all the unearthed potential, I had in me, from making so many mistakes but gaining the courage to owning up to them, from finally finding my voice, EDC has been through it all. The relationships that you make here, the myriad of things you get to do here, shapes your character. That’s how EDC stays with you forever. Starting off as a member to finally go on to lead the cell, it has been an absolute honour and a mind-blowing experience. It’s been a pleasure to be in the presence of such young and extremely talented individuals, so much so that I learnt some- thing new every day, that I grew so much as a person. At the very outset, I would like to take this opportunity to express my gratitude towards our HOD, Ms. Yogieta S. Mehra, our convener, Dr. Rakesh Saini and our Col- lege Administration, for helping us. Wherever, whenever we needed any help, they willingly and smilingly offered it. No matter whether I’m officially a part of it or not, EDC shall continue to remain a lifelong dream. To all the promising individuals who go on to lead the society or be a part of it, I wish you all the happiness and success in the world. I don’t have the slightest of qualms that the cell shall go on to put more feathers in its already brim- ming cap, each day. Dhananjay Tanwar, President 6 ENVISAGE EDC DDUC

FROM THE DESK OF COUNCIL “And then there is the most dangerous risk of all- the risk of spending your life not doing what you want on the bet you can buy yourself the freedom to do it later.” At the very outset, I would like to take this opportunity to express my gratitude towards our HOD, Ms. Yogieta S. Mehra, our convener and our College Administration, for helping us. Wherever, whenever we needed any help, they willingly and smilingly offered it. It gives me an immense pleasure to be associated with the sylvan surroundings of Entre- preneurship Development Cell, Deen Dayal Upadhyaya College. EDC equips its members with the skills, mind sets and qualities that will best equip them for success in the cor- porate world of the future. As a member, it gave me an opportunity to learn marketing, public relations, management, leadership skills and discipline. Being appointed as the Vice-President gave me a platform to finally give back to my society by instilling all these values and skills in the upcoming entrepreneurs of the world. I would like to thank our advisory for their relentless efforts in shaping us to be who we are today as well as extending their support throughout the year. Their vision has helped us work on our skills and give our best towards the community. Following this trail of appreciation, I would like to thank my fellow mates who were part of the council as well as all the members. We, together, represented ourselves as the ambassadors of EDC and made sure it achieves greater heights. The unconventional initia- tives that we took this year helped us achieve our recognition throughout the country. Our EDC’s journey started with the very first day of college where we spent 2 memorable and adventurous years of our college life. We will cherish these plethora of memories forever. Once again, I thank this amazing society for nurturing and instilling us with values, entre- preneurial spirit and a zeal to face the challenges of the corporate world. As we tread into a new challenging world, we promise to always keep the name and fame of EDC in high spirits. I would like to say all the best to the upcoming council and hope that you all will work towards achieving the ultimate goals of EDC. May God bless this community! Vaishnavi Singhal, Vice President EDC DDUC ENVISAGE 7

COUNCIL VICE- PRESIDENT VAISHNAVI SINGHAL GENERAL SECRETARY GENERAL SECRETARY ANISHA VERMA PRESIDENT JOINT SECRETARY ANJALI KUSHWAHA DHANANJAY TANWAR JOINT SECRETARY SHRADDHA RASTOGI MEHAK SETH 8 ENVISAGE EDC DDUC

L 2020-21 STARTUP HEAD TREASURER KUSH BANSAL CREATIVE HEAD SHUBHANGI JAIN MARKETING HEAD PANKAJ KHATANA SANYA RASTOGI OPERATIONS HEAD PR HEAD ARPIT PRADHAN CHITRAKSH UPPAL EDC DDUC ENVISAGE 9

2011 EDC THROUG ORIGIN OF EDC 2012 A journey of a thousand miles begins with a single FIRST WORDPRESS BLOG step . EDC was founded on 19 August 2011. A soci- ety was formed which would help hundreds of stu- EDC launched its official blog on Wordpress. dents over the years to bring out the entrepreneur in The blog was aimed to educate the viewers them. 2021 marks the 10-year anniversary of EDC. about the concepts of entrepreneurship such as How to think of an idea, What is the first 2015 step an entrepreneur should take and more. PITCH PLEASE 2015 A one of its kind business plan competition that NATIONAL ENTREPRENEURSHIP CHALLENGE was held at an inter college level and attracted NEC – The National Entrepreneurship Challenge a lot of audience with an amazing feedback. The hosted by the e-cell of IIT Bombay is one of the event was packed with amazing entrepreneurial most prestigious events of the entire country in strategies and ideas and a show full of action the E-cell circuit. EDC was one of the main con- and excitement was delivered to the audience testants in NEC and landed on the podium with a third position which was a great achievement. 2017 2018 1st INSTAGRAM POST AFFLUENCE A start towards a new journey, the cell launched its own Instagram page and its first ever post, AFFLUENCE ‘18, an intra college event organised by EDC since then the page has seen a lot of view- was a fruitful and successful event. Students of varied ers and followers and is one of the biggest courses and departments participated, enjoyed and amongst the entire Delhi University circuit. learnt. All the three events that were organised got ample number of participants. It became one of the most memo- 2020 rable and successful experience for all the EDC members. But still, we believe that a lot more is still to be achieved! E - AWARENESS CAMP 2020 EDC organized a three days workshop on ENTREPRENEUR- SHIP in collaboration with Dept. of Professional Studies, IPL Government of India, Banarsidas Chandiwala Institute of Professional Studies, New Delhi and Entrepreneurship De- EDC organized first online IPL (bidding event) velopment Institute of India, Ahemdabad at Deen Dayal on Instagram. In this event , participants had Upadhyaya College, Dwarka. It was exclusive for 50 students. to bid for their favorite players and create the perfect team. This was a 4 days event. The win- 10 ENVISAGE ning trophy was won by Chennai Super Kings. EDC DDUC

GH THE YEARS 2014 2013 CORPORATIVO INGENIOUS Corporativo 2014 was the first Annual En- trepreneurial fest organised by EDC. With “Never allow yourself to be defined by some- cash prizes worth Rs.10,000 Corpora- one else’s opinion“. Ingenious was the tivo consisted of two flagship events “The first inter college crisis management com- great Indian AUCTION” and “ BRAND-ED” petition organised by EDC. It was one of a kind competition to test the crisis manage- 2014 ment capabilities of budding entrepreneurs. NEW LOGO 2014 EDC unveils its new logo. The current EDC logo E-SUMMIT was designed in 2014 by the graphic team of EDC. With its new logo, new aspirations EDC hosts its first E-Summit. The event focussed on were set for the society to reach new heights. the financial aspects of a startup and unconvention- al entrepreneurship. The summit was packed with 2019 a number of panel discussions and guest speakers such as Mrs Nidhi Arora (Educator and CEO, Cher- E-AFFAIRE ry consultants) along with other industry experts. E- Affaire 2019 was a grand event organized in two parts , E- 2018 Summit and E-Cell meet up.It was a talk show to spread aware- ness among the students about the world of business, entre- E-SUMMIT preneurship and industry. Dr. Ritesh Malik, Founder & CEO, Innov8 Co-working, Dr. Annurag Batra, Chairman & Editor-in- One of the best E-summits in the entire Delhi University cir- Chief, BW Businessworld, Mr. Saibal Sengupta, CFO, Orient cuit, this E-summit’18 hosted amazing guests who also hap- Electrics Limited etc. gathered. The insightful session was fol- pened to be the alumnis of Deen Dayal Upadhyaya College, lowed by the E-Cell meetup in which 6 contests were organized. founders like Neeraj Sancheti (kreativ street), Sameer Aggar- wal (prime packers) and the Miss World India 2014 Ms. Koyal Rana were called upon and were asked to guide the students and help them on their path to a bright and successful future. 2019 2019 IMC AMAN DHATTARWAL Indian Mobile Congress gave the members of EDC an op- EDC invited Aman Dhattarwal , founder – Apni portunity to interact various corporate leaders like Vijay Kaksha and renowned Youtuber for orienta- Shekhar Sharma(Paytm-Founder), Kunal Bahl(Snapdeal- tion and it witnessed a footfall of over 500+ Founder), Manu Jain and Vikas Agarwal(Indian heads of students. He talked on various aspects of Xiaomi and Oneplus). 4th Industrial Revolution themed IMC business and management while also shar- saw participation from more than 500 companies amongst ing his lifestyle and the way of working. which 250 startups and 110 foreign buyers. EDC delegates had exposure to the upcoming technological revolution. ENVISAGE 11 EDC DDUC

Blueprint is the annual event of the Entrepreneurship Development Cell of Deen Dayal Upadhyaya College, University of Delhi. This year Blueprint was conducted fully online, a 5-day mega event comprising all that encompasses entrepreneurship: finance, social conscience, research and marketing, etc. The event saw over 2000+ registrations and full participation from over 1000 people. 2000+ 10+ Rs. 75000+ REGISTRATIONS EVENTS CASH PRIZE FLAGSHIP EVENT MISMATCHED CORPORATES Two completely different companies unified (ex:-Spotify and Tinder) into an unimaginable venture, the participants were required to put their Finance, Marketing and Entrepreneurial acumen to the test. The event spanned the entirety of 5 days which started with a financial quiz on the finance day, then a mismatched business case study and thzzen finally the presentation with a twist of Corporate Truth Dare and Situation. FINANCE DAY (01/03) THE HAMMER’S GAMBIT Have you ever wondered why sometimes a single tweet by famous business personalities and top entrepreneurs can greatly impact an industry? (We’re looking at you Elon, aka Doge Father). Well, that is what happened in our finance event, the hammer’s gambit, where the participants had to correctly guess the impact made by such tweets, then buy companies that have a change in management and finally making an IPO proposal for their respective companies. SOCIAL DAY(02/03) DIVERGENT We understand the need for social change but the actual work is seldom experienced by the masses, that is what we aimed to address with a reference to the popular franchise the diver- gent. The participants were first made to play a guessing game, then a case study was given to the participants and finally, a video ad was to be made depicting a social cause and how they would address it. SOSELL IDEAS For our second event of the day, we started with a quiz covering various aspects of social entrepreneurship followed by an ideation round where participants explain their social idea through a video or an infographic. In the next round, their ideas were auctioned off and special bonuses were also given and at last, they pitched their idea. 12 ENVISAGE EDC DDUC

EDC DDUC CASE STUDY(03/03) THE DYSTOPIAN PARADOX Saving the world, beating the apocalypse and navigating the complexities of geo- politics is how we would describe this event which started of with a guesstimate questionnaire followed by a storyline quiz where participants had to complete the logical timeline of the story and lastly plan how they would conquer the fictional world in the end. DOSSIER 2030 The threat of nuclear fallout has never been greater as it is in today’s day and age. That was what the participants explored in Dossier 2030 starting with a case study where a solution is to be given for the particular industry in the aftermath of nuclear winter and finally presenting the proposed solution. MARKETING DAY (04/03) REVENGE OF MATT Damon or Stefan?. While TVD fans will certainly get this reference, ardent fans and even non-fans had a blast in the event Revenge of Matt which began with a round of TVD based truth and dare followed by an interactive treasure hunt and finally ending with a Jeopardy-style buzzer round covering all aspects of marketing. THE MAESTRO MARKETER “Marketing is no longer about the products you make, but about the stories, you tell” this quote from Seth Godin encapsulates everything in The Maestro Marketer per- fectly which started with an ideation stage in the year 2100, followed by a diss battle between different participants over their ideas and finally an Instagram labyrinth where the first to solve the clues wins. ENTREPRENEURSHIP DAY (04/03) BAMBOOZLED “We were on a break” is something no participant said in the event Bamboozled because they were always on their toes, which started of with a quiz, followed by ideation round and lastly preparing a video ad for a product that featured in the evergreen sitcom Friends ENIGMA 2050 And last but certainly not least we got Enigma 2050, covering all aspects of entrepre- neurship starting from the brand auction and pitching idea to VC’s and ending with the different companies investing in each other’s ideas based on its potential. ENVISAGE 13

SPONSORS INDIAN OIL IndianOil is a diversified, integrated energy major with a presence in almost all the streams of oil, gas, petro- chemicals and alternative energy sources and a world where energy in all its forms is tapped most respon- sibly and delivered to the consumers most affordably. IndianOil is also the highest-ranked Indian company in the Fortune ‘Global 500’ listing. In IndianOil customers get the priority. SILVERSEVEN Silver Seven is a Global Venture Builder on a mission to launch multiple companies globally that contribute towards the United Nations Global Sustainable Goals. Innovation, Integrity, empowerment, trust, precision are a few of its core values that define the level of commitment this company has shown. 14 ENVISAGE EDC DDUC

FEEDBACK After five consecutive days of events, we shared a feedback form with 1000+ participants asking them to give suggestions and views pertaining to the events. The responses received were constructive and quite overwhelming. They really enjoyed the events under Blueprint’21 and appreciated the fact that there were separate days for different fields under entrepreneurship: finance, social conscience, re- search and marketing. Some suggestions were also received which will be incorporated in the events to come. The fest was a success owing to its participants and organisers. The responses received were all worth the effort of the council members and the organising committee. The OC was really ap- Keep organising The organising team It was fun to partici- proachable and great. such interesting and is excellent, they pate and go through They handled all of our amazing events :) were very patient all the rounds. The cre- queries and confusion in a with questions and ativity with questions very calm and sweet man- Keep continuing this helped a lot. It was is what I liked the most ner great work really great. Had a wonderful time. Awesome Amazing Great opportunity to learn I loved this event , such a great idea . Enjoyed . Really enjoyed Best OC Wonderful Such a fruitful experience; this event. The case and and learnt a lot experience really spent my time, effort the Competetion was into something valuable intresting and innova- tive. The OC was really ap- the OC worked flawlessly. My Had a really Such good Great ex- Excellent proachable and great. event coordinators worked good time program perience! They handled all of with the utmost politeness should keep our queries and con- and patience to solve all our on going on. fusion in a very calm queries and managed to con- and sweet manner duct such a big event with Very Professional and Superb and learnt a lot utmost care and perfection. I dedicated group organis- through the process Very informative and am thoroughly impressed by ing such a beautiful event interesting how well my event coordi- nators along with the OC Interesting Great Job! it was literally amazing Really nice. They managed such a complicated Events and interesting. were co opera- event. tive and cleared all our doubts before They were quite helpful Kudos to my event Great! En- Good starting the com- and prompt in helping coordinators and the joyed the keep it petition entire OC for their bidding up Had a Very helpful. hard-work that was wonder- being reflected in ful time. the management throughout the event. The committee was very A great experience and actually helpful and kind learnt something especially time management EDC DDUC ENVISAGE 15

ALL INDIA COLLABORATIONS OF EDC Lady Irwin College Deshbandhu College The E-Cell of LIC laid its foundation in January 2020, to nurture Fiontrai has organized competitions, webinars, and even the the entrepreneurial spirit in the young and bright minds of annual fest over online mode so as the essence of learning Irwinites. Our working experience with the E-Cell DDUC has and entrepreneurship is persistent. The significant discourse turned out to be very lucrative. There has been a lot of ex- with the EDC DDUC provided some constructive criticism to change of knowledge and wisdom that would help both soci- tackle threats and acquire dynamic operations and function- eties to achieve new heights of success in the coming tenure. ing amidst the pandemic. Miranda House Kirori Mal College Entrepreneurship Cell, Miranda House is much more than just We at Eneur collaborated with some well-known names such as a safe place for each of its members to discuss, deliberate, and BookMyPg, Smash, Instaeve, DU express, HBR ascend, The Souled explore. Store in, Co-work, and Boudhik ventures and worked on a few live As a bunch of talented, motivated, and sincere business enthu- projects INSTAEVE, SPONSODESK, TALANTONCORE siasts, we aim at success whether it be diurnal duties or our first We also organized a webinar series - DEBUT D’ENTREPRENEUR, successful online annual fest - CROESUS, which included presti- it was an insightful and informative session about startups, with gious guest speakers and enthralling and enriching competitions, eminent speakers from the industry like CA Charanjot Singh which had a turnover of 1000+ participants! Nanda, Abhishek Jain, Advocate Raghavendra Mehrotra and The cell is a family which cocoons its members, shaping them Advocate Valendy Rajesh, Deepak Pareek, and lastly Aditya Arora. into talented, fierce, and bold women entrepreneurs of We thoroughly enjoyed the collaboration with E-Cell DDUC as this tomorrow! helped our team learn and gain knowledge whether it be through seminars or fests, It all has been magnificent. Shyam Lal College SPM College Keeping in view the scope and pace of changes brought in by the Sashakti- The E-cell of Shyama Prasad Mukherji College for E-Cell Of Shyam Lal College, we still think that entrepreneurial Women was founded in the year 2020. The inaugural event was success requires a better connection between both areas. on the topic ENTREPRENEURSHIP & CREATIVITY. There was also The stated objectives of E-Cell are enlisted below:- an entrepreneur talk arranged with MS. SAUMYA GUPTA-a NIFT 1) To foster and sustain the spirit of entrepreneurship amongst Gandhinagar student, the students. Our first ever E-summit: ENAYIKA’21- which was a 2-day 2) To provide a platform where anyone can convert an idea into a Socio-Business extravaganza. successful business. EDC, DDUC has been known to develop an entrepreneurial 3) Developing a strong network of people who are directly or attitude amongst the students, thus providing a foundation to indirectly involved with entrepreneurship. their entrepreneurial journey ahead. The workshops and webi- It was a wonderful experience working with EDC, DDUC. To- nars conducted were pretty engaging and helped us in network- gether we tried to provide the opportunities and the right ing and was a fruitful collaboration. atmosphere for entrepreneurs to work on and grow their idea, Since it was the first year of Sashakti, we want to extend heart- looking forward to such collaboration in the future as well. felt gratitude to EDC DDUC for supporting us in these challenging and uncertain times. Thadomal Sahani Engineering College TSEC E-Cell held a webinar on Technology Acceleration & Reading Room followed by Embark, the annual entrepreneurship festival, ‘Embark 2020’ (held virtually) with fun events like ‘Bid For The Best’ and ‘Ideathon.’ In addition to hearing some crunch ‘Start-up Stories,’ Organized during the even semester, ‘Pitch Perfect!’ A webinar on Investing In Stock Market 101 gave an insight into the world of stock markets. Other events included Memepreneur and an Instagram Live with Rohit Kashyap, Founder, and CEO of Maytree School of Entrepreneurship. It was amazing to participate in the events of EDC, DDUC. We witnessed the growth of every team member within our team and we were glad to network with your incredible team. The events were interesting and members of our team participated with great enthusiasm. Best of luck in all your future endeavors. 16 ENVISAGE EDC DDUC

Vivek College of Commerce IISER, Kolkata Finishing 8th in IIT BOMBAY’S NATIONAL ENTREPRENEURSHIP The ECell of IISER Kolkata has managed to publish a weekly CHALLENGE (NEC) 2021 newsletter in collaboration with Summachar, invite eminent Getting PAN India recognition through various collaborations such as YouTubers such as Prajakta Koli( MostlySane), Nischay Malhan with E-Cell DEEN DAYAL UPADHYAYA COLLEGE. (Triggered Insaan), and Aman Dhattarwal for seminars. It has also The highlight of the collaboration was being able to participate and conducted workshops on entrepreneurship. Ecell IISER Kolkata engage with like-minded people across the nation & of course the would like to thank ECell DDUC for an amazing partnership, which highly witty and challenging task organized during the Blueprint 2021. has been a great learning experience for us. DCAC, DU Shivaji College In a bid to support small businesses during COVID, Vyapaar, the EDC organized its first installment of annual flagship event which E-Cell of Delhi College of Arts and Commerce, launched its very was a webinar on ‘Zero to One of Entrepreneurship also, the own e-commerce website featuring businesses and student-led second edition of the annual event was The Entrepreneurship startups from all across India which saw a huge turnout of over Summit 2021 in which we had various events such as Panel 20,000 people visiting their website. Making the most out of the Discussion and One on one session along with competitions like Zoom-University era, Vyapaar also hosted various events B-Plan, Round Table and Business Quiz which was a great accom- including B-Plan competitions and an online Internship Fair plishment. that featured over 500+ internship opportunities. Our working experience with the E-Cell DDUC came out to be very It was an honor to collaborate with EDC, DDUC and watch their lucrative and thriving. It was filled with enthusiasm and sagacity. journey to success this year with events like Blueprint’21. We There was a trade-off of knowledge and reciprocation of ideas were incredibly grateful to be a part of their network and look that helped us to bring off new pinnacles of success in our coming forward to more collaborative efforts next year! tenure. SGGSCC- E-cell Maitreyi College In the past 1 year, the cell has created its own Youtube channel We are glad to have collaborated with E-Cell, DDUC in the where they have invited various prominent speakers such as previous academic session. Both the societies have been actively Sahil Tanwar, Shivansh Garg, Shivangi Dutt & many more. in contact with each other and very supportive of each other’s Recently the cell had an interview with Vic Sethi who is the events and initiatives. We hope we can take the same spirit of co-owner of Anand International Ltd, Daewoo Europe Ltd, and collaboration forward in the coming session as well! Hyundai Electronics Ltd. They have organized various interesting Today, Meraki is home to 3 start-ups and 4 projects. We have initiatives such as Entrepreneurial Lexicon, Entrebuzz, Hashtag conducted two successful e-summits in the years 2020 and 2021. Entrepreneur, Newspedia, Hustle and Bizhawk. Accomplished guest speakers like Mr. Ankur Warikoo (Founder of EDC, DDUC is one of the renowned cells of the entire University Nearbuy, content creator), Aditya Arora (Founder of Faad Net- of Delhi. work), and many more. Our cultural event, Artfluencers (2020) EDC SGGSCC deeply appreciates your continued efforts in also hosted two immensely talented performers - Ms. Manveen helping us market our events on the social media platform. Ea- Kaur, an engaging poet, and Mr. Sarthak Saksena, an extremely gerly looking forward to having such productive collaborations skilled musician. Our key collaborations of 2020 have been those with you in near future. with The Hustler Team, Metvy, and The Startup Scholars. Dayal Singh College The entrepreneurship society of Dyal Singh College aims to provide students exposure to the business world and startup ecosystem, achieving the 4th rank in NEC IIT BOMBAY, it aced various competitions and workshops. Prominent for organizing numerous workshops and events, Enso receives 1000+ entries from institutions across India with the likes of IITs, IIMs, thriving to become a start-up incubator & promoting entrepreneurship at the root level. ENSO’s working experience with the E-cell of DDUC was highly enriching. Society, as well as the students, learned a great deal from this fruitful and remunerative collaboration. The exchange of ideas and learning from each others’ experiences was one of the key highlights of this partnership, and ENSO is certain that it will lead to more success and establishments for both societies. EDC DDUC ENVISAGE 17

180DC Daulat Ram College IIM,Visakhapatnam It was a good session for 180 Degrees Consulting Daulat Ram In the past year, we have successfully organized workshops with College; we had over 10+ projects, 5+ webinars with industry renowned entrepreneurs. We also organized E-Summits where speakers, and one successful annual consulting fest - Congruence we observed great participation. 2.0 with over 1500+ attendees and participants. Collaborating Working with EDC, DDUC was a wonderful experience for us. with Ecell, DDUC, was an incredible opportunity. Both the Both the E-cells shed knowledge on various aspects of societies mutually benefited from the partnership, and we hope entrepreneurship. We had a great year while being in that collaboration remains intact for the coming year as well. collaboration with them. WDC, DDUC CVS Finance society WDC aims to empower the youth especially the women of We successfully organized Bizkreig- the annual flagship event of tomorrow with an opinion, a vision, and a thought of their own our society, we have four distinct events: Best manager, Best and giving wings to their imagination and igniting their power of marketer, Best consultant, and Mock stock, out of which expression. We tried to continue achieving more and more despite applicants may select depending on their interests. the battling times by actively creating awareness regarding We conducted Finertia, an online event in such a way that the equality, justice, and respect for all genders. The virtual platforms participant’s knowledge and abilities could be put into something came to our rescue when it came to social interactions in the form productive. The event was divided into 4 sub-events namely of webinars, seminars, and virtual events. AnalytIQ, House of Traders, Margin call, and Clash of Cognizants. Our collaborations with the E-Cell of our college in webinars and Working with the E-Cell of DDUC has truly been a delight, they’ve workshops have turned out to be fruitful and we eagerly look always been super cooperative and we’re looking forward to forward to working together again with them. Felicitations to the more fruitful collaborations with them. whole EDC team for the launch of the new edition of their magazine. We wish them luck in all their future endeavors. CVS Incubation Centre Fin-S, DDUC Providing a platform to transform their ideas into fruition, we aim to promote and support student entrepreneurs through our The foundation stone of the Finance Society of DDUC was annual Incubation Cycle, taking their ventures from the stage of laid in 2008 and since then it has been making a mark in all ideation to implementation. The incubation center is a wholly aspects. This session ‘Mafia City-2’ and ‘Bulls and Bears’ were student-run non-profit organization, which makes it the first of its some of our big hits and even the pandemic couldn’t stop us kind throughout the University of Delhi. Within two years, ERIC from organizing such amazing virtual events. The mutual has been successful in getting four speakers on board, providing collaboration helped a lot in promotions of events and some them with all kinds of services ranging from mentorship to mar- of our great insightful webinars such as on Annual Budget, ket research. ERIC is no less than proud to announce the trajec- ace case competitions, DCF and financial modeling, etc. tory of two of them namely Woodsville Academy and Aatmasaat, Fin-S would like to thank EDC for extending its proposal of turning profitable amidst the lockdown. collaboration this year. This collaboration not only helped to ERIC entered into a collaboration with the EDC, DDUC. It wouldn’t strengthen the relationship between the two societies but be wrong to say that the reach through their social media handles also contributed to the mutual growth of the members of was a big boost for our campaign. The PR department stood out both societies. We at Fin-S wish EDC the best of luck for all well in maintaining their relations with us. We thank them for their future endeavors and hope to extend this partnership their timely response and commitment. even further. Kamala Nehru College Commcentric, The Commerce Association of Kamala Nehru College is one of the most renowned associations across Delhi University. The Association is responsible for all the commerce-related activities that take place throughout the year and is shouldering its responsibilities excellently by providing a huge footfall from our college for events conducted by other associations of Delhi University. All this could not have been possible without the cooperation and support of our valued partners like E-Cell, DDUC. We would like to express our gratitude for your complete support and cooperation in this regard. Your contribution has been paramount in making our collaboration a success. We value your association and hope to continue such meaningful engagements in the future. 18 ENVISAGE EDC DDUC

SRC, DDUC Shaheed Rajguru College The Social Responsibility Cell, DDUC seeks to satisfy our conscience by Transcend’21, the annual marketing fest of Shaheed Rajguru College wit- presenting various opportunities for doing our bit for society amidst nessed immense participation. A panel discussion on the topic “Modern the hullabaloo of the rat race. Our annual fest ‘Social Internship Marketing Business Tactics and Paradigms” with Mr. Amitabh Tapadar, Conclave’, a pan-India event attended by students all over the country. Mr. Deb Gooha, Mr. Shiv Tiwari, Sri Hari Palangala as our honorable The collaboration of SRC with EDC has been indeed fruitful for both the panelists. societies with the unconditional support for each other’s projects and It was a fruitful collaboration experience with EDC DDUC. The growth events throughout the session. This was, undoubtedly, evident in the and engagement of both societies were taken care of. We witnessed collaborative event organized under Blueprint’21 which was a effective communication throughout the collaboration. humongous success on the part of both societies. This collaboration helped in the establishment of a vast network. It was indeed a great learning experience for both societies. E-Cell, MSIT Jankidevi Memorial College While this past year saw many opportunities for E-cell MSIT to The Entrepreneurship Cell of Janki Devi Memorial College, celebrate their milestones, We hosted two successful events Eweek University of Delhi is one of the youngest cells in Delhi University. and Wrap it up! which saw an increasing trend of We have organized various workshops, competitions, and speaker reactivity, Above that our webinars regularly held an audience of sessions to boost entrepreneurship spirit among the students. 100+ students, making E-cell a source of learning and development. We have launched our very first certified Add-on course on And lastly our latest, highly successful, internship fair, which had a Entrepreneurship Development with Focus on Social and Green participation of 500+ students. Entrepreneurship in collaboration with NEDC. We have also come up As an E-CELL, we have always endorsed the importance of with Project Anupam. Through this project, we aim at providing a networking, and we’ve tried to do so by leading by example. It has platform to empower women entrepreneurs of our college. been a great and enriching experience working with your E-CELL. Our experience with EDC has been remarkable. We highly Watching both our societies connect and grow together while being appreciate their annual fest. We would congratulate the whole team able to double up on our knowledge chests by joining in on your of EDC, DDUC, for organizing such a fantastic Entrepreneurship events and seminars! event, i.e., the Blueprint’21. Enactus SPIT, Bharatiya Vidya Bhavan Dayal Singh College (Finanza) Enactus SPIT: 1. FYNAMICS Prodigium 2020 was the first-ever online event. The 1. Started a project called ‘Project Prithvi’ to reduce the Big Bull, Contest, etc. Emporio 2.0 was an online blast in terms of consumption of plastic in daily life. participation, Nivesh and Exceeding vision with experts were the 2. Increased awareness about plastic pollution and excess major event highlights. plastic products in our daily life. 2. FYNAMICS’21- Finance goes Dynamic, TradeTales, Deal or No 3. Popularised the use of bamboo products like Deal, Howzatt, Open games and Curtain Call were the thrilling toothbrushes, straws, etc. events. 4. Completed the sale of 20+ orders with 100+ bamboo 3. Under Fynamics’21 and least Expert Aisle, an enlightening products in less than 6 months. session with Shri Suresh Prabhu, former Union minister, CA Atul Working with E-Cell DDUC was a very enriching experi- Gupta, past president of ICAI, Mr. Subhash Chandra Garg, and ence. We had the privilege of working with the amazing many more. team of E-Cell, DDUC. They come up with new and Everything involved was productive from the contingents, creative ideas for working together even when every- promotion, marketing, and direction of our society. Our entire thing has moved online and is difficult to conduct. team was high spirited for this and getting an overwhelming response from your side was the cherry on the top.We are de- lighted to have collaborated with you and we look forward to many more possibilities in the future! E-Cell, MAIT We at MAIT, support upcoming Entrepreneurs by providing them with necessary resources such as mentorship, consultancy, and the right network. Keeping in mind the current state of economic affairs, Entrepreneurial empowerment has been readily supported by the Govt. of India, to help budding minds carve out a niche for themselves, thereby making the economy more robust. Our extensive relationship of working past few months with E-Cell, Deen Dayal Upadhyaya College has been riveting, and together with this mutually beneficial collaboration, we pledge for collective learning and growth. We at EDC MAIT express our gratitude towards E-Cell DDUC for this collaboration which insinuates practical exposure for our members through frequent webinars, live projects, and student-led mentorship programs. EDC DDUC ENVISAGE 19

STARTUPS @ EDC Our professional work has taken precedence over everything in our lives. In this work from home situation life has been swing- ing between work and home. People find it difficult to manage household chores and their professional life altogether.But the workforce of domestic help comes to our rescue like a knight in shining armour and help us not worry about daily household chores so that both our work or our family can get the best of us. Thus hiring housemaids becomes a necessity but the problem doesn’t end here. Hiring a verified and reliable maid is way too complicated and time-consuming. To solve all such problems, we introduce an app that connects housemaids to the people who are in need, in New Delhi. The aim is to provide domestic help in a trustworthy and professional manner to the desired client either on an urgent or regular basis through the means of their phone. The goal is to shift this unorganized sector to an online platform by tapping maids from the societies or RWA as a whole. -Ritika Kapoor, working on an app providing househelp services When the smallest of everyday life is available on an app, how can we forget one of the most important things that revolve around our everyday life? Guessed what it is? It’s the RWA. Everything is associated with RWA, whether it’s society notices, maintenance payment, household help, etc. Opting for services, you’ll have to go physically and wait in an infinite loop because we all know how unsystematic this RWA system is. Fret no more, because we are bringing an ultimate solution. We aim at bringing all these services to an app where the pay- ment of your monthly maintenance, getting the household services, receiving society notices, registering all your complaints and keeping the track of the same is just a click away. The whole idea is to convert the complex unsystematic process to a simple systematic one, where the customer’s convenience is the topmost priority. ~Ayush Choudhary, making RWA services available on an app. When it comes to fashion, we think of trendy apparels. Likewise, when we talk of accessories, we think of jewel- lery. We have seen jewellery made of diamonds, gold and other precious metals, but is that the best choice for casual wear? NO! Most teenagers and college students go for alternatives like oxidized, artificial, and plastic jewellery. Little do they know that these are scientifically proven to be bad for skin if worn over a long period of time. We have taken a small initiative to bring out an ultimate and unique collection of handmade jewellery for young girls which are made from all-natural elements. To give you a feel of what we are talking about, we would say that one of the elements used is stones! Yes, stones can be used for making such beautiful ac- cessories that could blow your mind. Having invested so many hours in designing intricate jewellery designs, we have come up with our venture. This initiative also supports local artisans in favour of ‘vocal-for-local’. ~ Bhavika Gupta, making rare handcrafted jewellery using natural elements Ever thought what is the point of our education system? Why are we still forced to take 100-marks exams and en- trances? We aim to change our age-old classroom teaching with a concept of classrooms where students come to have discussions on topics ranging from feminism to string theory or to just discuss their perception of Interstellar. Our company envisions changing the meaning of the word “Education” in our country i.e changing the way our schools and universities work. We want to create a paradigm shift in education and completely change the focus from scoring 100% to being an inventor, a job creator, a problem solver with the use of unconventional methods - Simar Sekhri, changing the way education is perceived through unconventional methods With the current situation pertaining, it is quite clear that just cleansing ourselves will not save us from the pandemic. What’s more important is that our surroundings are sanitized as well. Moreover, people have become more cautious now since certain lockdown restrictions have been uplifted. Keeping this in mind, the need for sanitization will increase in the upcoming months. So, the idea is to create an online platform where the demands of households and commercial establishments to get saniti- zation facilities would be fulfilled. To sum it up the idea is directed towards helping people achieve their sanitization needs. ~Anisha Verma and Kush Bansal Book-o-Pedia is a start-up under EDC, which aims at selling novels, course books & rare fictions at cheap rates. Over 2000+ books have been sold till now with a revenue generation of over Rs. 1,00,000/- with customers from Bangalore to Jaipur and Lucknow to Raipur. 20 ENVISAGE EDC DDUC

DECODING STARTUP JOURNEY ~by Ritika Kapoor and Simar Sekhri INTRODUCTION The start-up begins with an idea and initially, the enthusiasm is very high. As it progress- es forward, a start-up comes across various problems and it has to pass through a difficult and cumbersome stage. However, once that stage is completed, there’s no looking back! In this article we’ll be exploring the life of a startup from the ideation to funding and look at how a startup originates by taking into account the environment around us and once it builds up the momentum, what all problems it faces in the journey and what all we can learn. INSHORTS In 2013 Azhar Iqubal, Anunay Arunav & Deepit Purkayastha came up with the idea of curating the most signifi- cant news items of the day and serving them in 60-word summaries. The trio had observed that the youth in In- dia was increasingly getting disconnected from the idea of reading news every day. Inshorts pioneered the con- cept of short-form branded content on its app, which is the driving wheel for its growth and profitability. SMALLCASE A little over five years ago, Vasanth Kamath and his friends from IIT-Kharagpur, Anugrah Shrivastava and Ro- han Gupta began looking for an answer to a logical question that nagged at them: Why can’t you take port- folio exposure to stocks through your broker? Why does it only have to be through the mutual fund route? They wanted to find a way for regular investors to put money into a portfolio of stocks in- stead of having to go stock by stock. Online investment platform that allows investors to in- vest in “themes”. The idea was to move away from investing in individual stocks to a portfolio. FLYROBE The seed of thought was planted when the founder of Flyrobe, Shreya Mishra, visited AirBnB’s office in 2012. Shreya was intrigued by the concept of the rental shops, which can be operated using the assets that are al- ready owned. They realized that people spend a lot of money on dresses that are utilized very few times. Be- ing able to wear new dresses without the responsibility of owning them would undoubtedly be a blessing to them. WOW MOMO “If pizzas and burgers could do so well, I was certain momos stood a chance too,” - Sagar. They started the busi- ness with only Rs 30,000. For almost six months, they worked out of this stall and made an average of Rs 2,000 a day. “I would wake up at 5.30 am and go-to source the ingredients we would use that day. The momos were all made in my home kitchen and were stored in my dad’s garage. I also managed to “steal” a few of my moth- er’s prized Tupperware containers, in which we would take the momos to Spencers each day,” he says. Sagar says they would use the shuttle auto service in the morning, and walk to the home in the evenings, just so they could save Rs 10. “This taught us an important business lesson, that one rupee saved is five rupees earned,” he says. EDC DDUC ENVISAGE 21

PEPPERFRY Pepperfry, in 2013 faced a cash crunch, top-level management took a 50% salary cut and by do- ing so, the company avoided the situation of laying off the employees. Currently, the Company has raised over $240.5 million in eight funding rounds. What we can learn from the example of Pepper- fry is that in a situation of crises, the employees should hold hands and if it’s required, the employees should compromise with the basic necessities like salary, etc to avoid the company going into a downfall. KFC International food brands like KFC and Mcdonalds have studied the Indian market and have undergone a process to Indianize their menu so that it can cater to various Indian communities. For example, Mcdonalds has introduced a large variety of vegetarian food products and has kept its non-vegetarian food products limited to chicken and fish. KFC faced a lot of protests and resentment from the Indian public when it had entered the Indian market in June 1995 KFC then had to abandon the Indian market because of insufficient revenue. KFC returned to the Indian market in 1999 setting up an outlet in Bangalore. This was the sole KFC outlet in India until 2004, when the chain began to expand, with a makeover and a range of new vegetarian dishes. KFC now has over 400 outlets spread all over India. AMAZON In July 2019, Amazon ceased its operations in China. Amazon made an early entry into the market, but de- spite that fact, other giants were gaining more traction. They didn’t quite study the Chinese markets before- hand and not even trusted the local management. This was evident in the platform’s product range and its user interface. For this, Amazon was slapped in the face with widespread criticism. Amazon failed ter- ribly in China, while other giants like JD.com prospered. From Amazon’s mistakes, startups can learn that even if there is competition in the market, you can make it big in the market even if you don’t have the first- mover advantage. Also, startups should have a detailed understanding of the market they are tapping. OYO In august 2019, OYO purchased the Hooters casino hotel near the Las Vegas strip, partnering with High- gate, for $135 million. As it progressed further, in 2020, revenue at many Oyo hotels didn’t rise as per the expectations and the hotel owners were left frustrated. This led to a decline in the number of hotel rooms on Oyo’s network by more than half in the past year to around 530,000. Oyo was swift enough to form a strategy and it offered a guaranteed monthly revenue to many hotels that signed on, even if that meant giving money from its pocket to make the payment. This scheme proved to be beneficial for OYO and now it aims to have more than a million rooms by the end of 2023. By this move of OYO, we learnt that startups need to be swift in making decisions and should adapt themselves according to the situations. If you fully accept the worst that can ever happen in your journey, fear of fail- ure won’t ever be an obstacle in starting-up. Being an entrepreneur isn’t re- ally about starting a business. It’s a way of looking at the world seeing op- portunity where others see obstacles, taking risks when others take refuge. 22 ENVISAGE EDC DDUC

How Indian Startups have fared under the ambit of the Cryptocurrency Bill ~by Hamza Moini and Ayush Choudhary EDC DDUC ENVISAGE 23

Introduction In 2009, the world saw the first de- 2.InstaDapp 5. Nuo centralized cryptocurrency, bitcoin. It is one of the most decentralized Nuo network, rolled out in 2018, Since then, crypto has always been platforms on Ethereum. It provides was started by Varun Deshpande, a part of the news and many more the users and developers with a Ratnesh Ray and Siddharth Verma. new cryptos have been emerging. single point of integration to access Nuo network is a decentralized fi- Many believe that crypto is the “new” the DeFi protocols. The platform nance (DeFi) application that pro- future. India saw the rise of many eliminates the process it takes to vides a platform that unites lenders cryptocurrency platforms in 2017. launch a decentralized application and borrowers. It uses partner ex- However, In 2018 the Central Bank by eliminating the need to learn so- changes for making trades through of India circulated a notice that pre- lidity or going through the tedious smart contracts. Nuo had the first- vented banks from tying hands with process of endless debugging and mover position in the DeFi protocol crypto startups. Nischal Shetty, the allowing the users to innovate and space in India. In July 2019, the firm founder of WazirX, was against this execute rapidly. It has raised $2.4 launched Juno, a neo bank, built on notice and started a trend on Twit- million in seed funding by Pantera top of Ethereum. It relies on the Nuo ter. He tweeted #IndiaWantsCrypto Capta, Coinbase Ventures, etc. protocol for neo digital banking ser- with facts about crypto to regula- vices. The bank facilitated $25M for tors and politicians. The entire cryp- 3.KoineArth lending and borrowing transactions. tocurrency industry got united un- KoinArth was started by Dr Praphul der this trend covering more than 10 Chandra in 2017 to work at the cross- 6. WazirX million people. This campaign went ing of the blockchains, AI and Mech- WazirX, one of the leading crypto- on for around 489 days when finally anism Design. KoineArth provides currency exchanges in India, was the Supreme Court made a decision its customers a platform to analyze founded by Nischal Shetty in De- in favour of cryptocurrency. blockchain-enabled interactions. cember 2017. WazirX token (WRX) The Cryptocurrency and Regulation KoineArth’s Markets is a collabora- is the first native token launched by of Official Digital Currency Bill, 2021 tion platform that hosts blockchain any Indian exchange. It helped the created fear, uncertainty and doubt and AI-based products. Using this platform gain a lot of traction and in the Indian crypto ecosystem. Let’s solution, a business can bring to- accelerated its user growth. With have a look at the current scenario gether all the suppliers for getting the fire to keep innovating, it started of Crypto and blockchain startups in a real-time picture of the scenario. WazirX P2P, a unique auto-matching the Indian market. KoineArth raised an undisclosed people-to-people engine just after amount from Inventus Capital. the imposition of a banking ban on 1.Coin DCX crypto exchanges by the RBI. The Coin DCX was launched in April 2018 4. Matic Network (now Polygon) platform didn’t just stop there, it also by Neeraj Khandelwal and Sumit Matic Network was co-founded by launched Smart Token Fund (STF) – Gupta. The startup provides the us- Jayanti Kanani, Sandeep Nailw- a community-driven initiative where ers with single-point access to a di- al and Anurag Arjun in 2017 to in- cryptocurrency enthusiasts can verse suite of crypto-based financial crease Ethereum Blockchain using find smart traders, and allow them products and services. It offers the a modified version of Plasma proto- to grow their cryptocurrency port- highest liquidity among the leading col with Proof of Stake(PoS) based folio on WazirX. Recently WazirX global crypto exchanges. The plat- side chains. The idea behind it was has been acquired by Binance, the form’s other product is Lend, which to address the issue of the slowness world’s largest cryptocurrency ex- is a credit facility to help users earn of Ethereum and expensive trans- change. interest in cryptocurrencies. DCX action fees. They use a decentral- Learn, a platform that provides ized Plasma operator mechanism knowledge about cryptocurrencies to achieve scale and then there is and blockchain technology. CoinDCX the main chain to perform the fi- has raised $5.5 million in investment nal transactions. With this technol- from venture capital firms like Poly- ogy, Matic can achieve up to 65,000 chain Capital, Coinbase Ventures, transactions per second on a single HDR Group, etc. Matic block. In just one year, it has surged by a whopping 8000%. 24 ENVISAGE EDC DDUC

Key features of the Cryptocurrency Bill 2021 1. Putting a Ban on all private cryp- 2. Introduction of central bank- 3. Formulation of a regulatory body/ tocurrency backed digital currency (CBDC) framework The committee, formed for crypto- The same committee also pitched Reporting of sale, trade, and usage currency, suggested a ban on pri- to introduce an official digital cur- of the currency to authority would vate cryptocurrencies, like Bitcoin rency, which would be regulated by ensure the identity of participants and Ethereum. This will lead ex- RBI, known as central bank-backed and the amounts transacted, there- isting crypto investors in India to digital currency (CBDC). Central by preventing anonymity in cryp- huge losses. From the legal point banks from countries across the tocurrency transactions. The com- of view, even if the ban is imposed, world, which include China, Euro- mittee has pitched for setting up a the crypto holders can still shift to pean Central Bank and the United legal framework to directly regu- international exchanges to trade States, are working on developing a late the currency by the RBI and the their holdings and there will be no digital currency. There can be vari- Securities and Exchange Board of loss of money. Therefore, it would ous forms of CBDCs. They can be India (SEBI). be wise to trade the crypto holdings issued on blockchain ledgers like Digitalization has led to a rapid in- as soon as possible to be ready to private crypto-currencies, a De- flux of cryptocurrency in India, es- face the ban. There is a grey area mat account like in stocks, a spe- pecially among start-ups who have as to what ‘private cryptocurrency’ cific payments instrument, or an been voicing for proper legislation refers to, as the draft has not been account-based CBDC. CBDCs could regarding investment in cryptocur- made public. also be rolled out for retail (and rencies as there is a potential that wholesale) which would be acces- millions can be raised in the form of sible to all types of consumers and investments from Indian and inter- institutions. national firms. What is the legal status of Cryptocurrency in India right now? So far, there is no crypto regulation in India right now. That means, buying Bitcoin is le- gal in India. There is no such law prohibiting Indians from buying or selling cryptocurren- cies in India. However, there was a banking ban between July 2018 to March 2020 due to which the cryptocurrency exchanges were not able to hold bank accounts. In 2020, the Su- preme Court quashed the same. India doesn’t have a regulatory framework to govern cryptocurrencies at the moment. The Government constituted an Inter-Ministerial Committee(IMC) on 2 November 2017, to study vir- tual currencies. The group flagged the positive aspect of the distributed-ledger technology and had sug- gested various applications, especially in financial services, for its use in India. However, the centre had flagged its misuse and wanted to put a blanket ban in India and may come up with a panel to regulate the same. Did cryptocurrencies ever face a ban in India? The RBI, through its circular in April 2018, advised all entities not to deal in virtual currencies or provide any service for facili- tating any person or entity in dealing with or settling them. In 2018, the finance ministry had issued a statement, saying “the government does not consider cryptocurrencies as a legal tender and will take all measures to eliminate the use of crypto- assets in financing illegitimate activities or a part of the payment system. The government will explore the use of blockchain technology proactively for assuring in the digital economy.” In 2019, a government committee had suggested banning all private cryptocurrencies, with a jail term of up to 10 years as well as heavy penalties for anyone dealing in the cryptocurrency Is Cryptocurrency taxable right now? Yes. Cryptocurrencies are taxable where the person earning such gains is an Indian tax resident or where the cryptocur- rency is said to be domiciled in India. EDC DDUC ENVISAGE 25

What they don’t tell you in motivational startup videos ~by Abhijai Chaturvedi W HAT COMES FIRST in your mind when you hear the word entrepreneur? A rich guy having a big business and enormous amounts of wealth? The answer might vary from person to person but in most cases, this is the answer which you might get. We have all heard of business magnates like Elon Musk, Mark Zuckerberg and Bill Gates who also happen to be great entrepreneurs in their own regard. We read their success stories, and aspire to be like them, but what we don’t see is the struggle they have endured to get where they are today. Starting your own business will solve everything that’s wrong with your job, your life, and more importantly, how you feel about yourself, is a thought that many people may have. Becoming an entrepreneur will therefore give you more flexibility, freedom, joy, recognition, meaning, and hope- fully, in the long run, more money right? STEPPING STONES Well, the reality of being an entrepre- Remember success neur is harder than most people are is walking from willing to accept and open up about. In failure to failure a culture where successful entrepre- with no loss of neurs are idealized like rock stars, it’s enthusiasm. easy to feel like we’re not good enough when comparing ourselves to the rosy picture painted by social media. According to the statistics, out of the 5.5 Million businesses run in the UK, nearly 75% of them were started by people who employ no one but themselves. It seems to be quite a lonesome journey. 26 ENVISAGE EDC DDUC

sion, and finally getting all the fame and money there is(at least in theo- ry). A Bloomberg study showed that If you see this adver- low their purpose but it’s good 8 out of 10 entrepreneurs fail tisement on the bottom if one is scared because fear and shut down their businesses somewhere, would you implies that we badly want it, within the first 18 months itself. apply? which will ultimately lead us to One might feel a little apprehen- work harder to achieve it. Furthermore, research by Prof. sive about applying here at first and Michael it’s natural. Surprisingly, Sir Ernest If you think that becoming an Freeman from the University of Shackleton received 5000 applications entrepreneur is your purpose, California studied the link be- for this ad. He divided the applicants then do go for it, but you need tween entrepreneurship and into 3 categories of people - Hopeless, to know that this journey is lad- mental health issues, and guess Mad, and the last- people who want to en with hardships, you will get what, 1 in every 3 entrepreneurs make something happen. To clear any small or no wages. There might had some sort of mental health confusion, this was an advertisement be times when you will feel issues. for an expedition to the South Pole. lonely, you will be at constant risk of failure but you will also If this is the case then why did A similar kind of advertisement was get great success and recogni- entrepreneurship become so put up by a Dutch company called tion if you make through. (Yes, trendy? Why do people aspire to Mars One in 2013 wherein they were they are those things which become an entrepreneur? Social taking people on an expedition to Mars were mentioned in the adver- media has advertised them to with a condition that they would settle tisement) such an extent that a new kind there and they received 200,000 appli- of ‘celebrity entrepreneur’ has cations. The key takeaway from this is emerged. People have started The reason why the number of appli- to think and introspect because idolizing and emulating these cations in 2013 was much higher than you require patience, persever- modern age celebrities but are that 100 years ago because as said ance and dedication in this jour- they ready to walk on this new earlier, this generation is the most ney and only choose this path if age red carpet? purpose-driven and this is also one of you think that it is something or the reasons why people are ventur- perhaps the only thing you want The millennial generation is per- ing more into entrepreneurship these in life, don’t do it for the fame, haps the most purpose-driven. days. They believe that starting one’s wealth and recognition because We don’t do things or more im- own business is the only way of getting for every Elon Musk out there, portantly don’t like to do things that freedom, adventure, and purpose there are millions who didn’t unless we find a purpose behind in their life. However, this purpose make it through. them. A Gallup study said that which people yearn for these days can 87% of the workers feel disen- be found anywhere, even while work- gaged from their job and what ing with an organization, you can find it does one do in this case, well in your free time. they quit their task and do what they want to. Does this sound fa- Look for things miliar? Well, it’s the story of ev- that make you cu- ery entrepreneur, quitting their rious, follow them, existing job, following their pas- learn about them, and maybe that is EDC DDUC when you can find your own purpose. Some people are too scared to fol- ENVISAGE 27

~by Hamza Moini and Ekta Shroff RPL CASE took short positions in F&O (Fu- OUTCOMES Mukesh Ambani, a renowned man tures and Options) Segment on Anyhow with that aside, on 24 in the industry, is a person with se- its behalf. Moving further into March 2017 SEBI released an or- crets and is hidden in the spotlight the story, one of the agents con- der stating fraudulent trading in of wealth. Though, the fame comes nected with RIL, placed orders in the Futures and Options segment with a twist of unknown facts and the cash segment on behalf of RIL of the securities of RPL by RIL. wits. There are some dark secrets and in the F&O segment on behalf In that order, SEBI banned RIL related to him, one of them being of the other agents. On the date of from equity derivatives trading the RPL fraud case 2007. Accord- settlement of RPL November Fu- for a year and also directed the ing to SEBI’s order dated January tures, i.e., on November 29, 2007, conglomerate to disgorge ₹447 1st, 2021, RIL (Reliance industries RIL sold 1.95 crore RPL shares on crores, along with an annual in- limited) executed a well-planned the NSE cash segment within the terest of 12% since 29 November operation with its agents to make last 10 minutes of trading result- 2007. undue gains from the trading of ing in a fall in the prices on the Upholding the SEBI’s order, on 5 its erstwhile listed unit, RPL (Re- cash segment, which decreased November 2020, The Securities liance Petroleum Limited). RPL the settlement price of RPL No- Appellate Tribunal (SAT) in a 2:1 was a listed subsidiary that was vember Futures. majority order, dismissed RIL’s later merged with RIL in 2009. The selling of RPL shares by RIL plea against SEBI in connection resulted in profits on the big short with the sale of RPL shares by RIL Now, let’s go back to 2007 to ex- positions held by the agents in in November 2007. RIL challenged plore in detail the story of Reli- RPL November Futures and the the SAT order in the Supreme ance Industries Limited and how said profits were transferred back Court. On 18 December 2020, the dirty the game of profits could be! to RIL by the agents. Navi Mum- Supreme Court, while admitting It all started in March 2007 when bai SEZ Pvt Ltd and Mumbai SEZ to RIL’s plea, asked it to deposit a RIL decided to sell 4.1% of its stake ltd both have allegedly aided RIL sum of ₹250 crores. in RPL. To prevent a major fall in by providing funds to one of the the RPL share price, the equity agents appointed by RIL, the ap- On January 1st, 2021, SEBI re- was first sold in the futures mar- pointed agent in turn provided leased a notice stating that RIL ket and later in the spot market. funds to the other 11 agents for made undue gains from its well- It’s Reliance after all, and it has to making margin payments for the planned operation. SEBI’s order have a twist in the story. Before short positions in RPL November said, “It was also observed that undertaking sale transactions in Futures. Imagine selling this num- Mukesh Ambani being the CMD of the cash segment, RIL fraudulent- ber of shares and manipulating RIL, was responsible for its day- ly had booked large short posi- the market just tions in the RPL November futures to bring down through 12 agents with whom it the share price had agreed to circumvent position of its subsid- limits for a commission payment. iary and to earn some Being a good player in the mar- huge profits. ket, RIL fraudulently cornered Such was the nearly 93 per cent of open inter- level of shrewd est (which are contracts or com- thinking and mitments outstanding in futures trickery em- and options) in RPL November ployed by Mota Futures, when the said 12 agents Bhai! 28 ENVISAGE EDC DDUC

*Navi Mumbai SEZ PVT ltd and specifically prohibited it in 2010. the individuals referenced in to- Mumbai SEZ ltd both companies are Submitting and cancelling orders day’s resolutions is unacceptable promoted by Anand Jain, who once isn’t illegal, but it is unlawful as and they are no longer with the served in the Reliance Group. part of a strategy intended to de- firm”. He stated that the bank had ceive other traders. In short, the invested a considerable amount of to-day affairs and thereby, liable manipulative practice that is de- resources in improving its internal for the manipulative trading done signed to create the illusion of de- compliance policies, surveillance by RIL”.SEBI’s order further stated mand or lack thereof, is known as systems and training program. that “Navi Mumbai SEZ Pvt Ltd and spoofing. JP Morgan had been slapped with Mumbai SEZ ltd have allegedly $436.4 million in fines, $311.7 mil- aided and abetted RIL by provid- According to the Commodity Fu- lion in restitution, and more than ing funds to one of the agents ap- tures Trading Commission (CFTC), $172 million in disgorgement, the pointed by RIL, Who in turn provid- Between 2008 and 2016, JPMor- CFTC said on 29th September ed funds to the other 11 agents for gan engaged in manipulating the 2020, this is the biggest settle- making margin payments for the precious metals futures and U.S. ment imposed by the CFTC. The short positions in RPL November Treasury futures market. Traders bank is also required to cooperate Futures.” would place orders in the market with the government’s investiga- On 1st January 2021, Reliance In- which they never intended to exe- tions and prosecutions. dustries Ltd (RIL) and Mukesh cute, to create a false impression Well, we ought to see if the big Ambani were slapped with fines of buying or selling securities that banks listen to the surveillance of Rs 25 crore and Rs 15 crore re- would increase or depress pric- systems or will it remain on paper spectively. Navi Mumbai SEZ Pvt es. Fifteen traders of the biggest like the other time. Ltd was fined Rs 20 crore and bank in the U.S, caused losses of Mumbai SEZ Ltd was fined a sum around $300 million to other par- Source:- Bloomberg, Reuters. of Rs 10 crore. Do you think that ticipants in the precious metals the fines impacted Ambani in any and Treasury markets, according ENVISAGE 29 way? to court filings on 29th September 2020. The trades were made on Source:- Yahoo Finance, Mint, JPMorgan’s account, but also on Scroll. occasions, the traders would ma- nipulate the market to facilitate JP MORGAN SPOOFING CASE:- trades by hedge fund clients, the On September 29th, 2020, JP Mor- CFTC said. The bank had failed to gan Chase & CO. agreed to pay identify, investigate and stop the more than $920 million to resolve behaviour, even after its new sur- CFTC’s (Commodity Futures Trad- veillance system flagged issues in ing Commission) claims of market 2014, the CFTC said. manipulation involving two of the JP Morgan had admitted respon- bank’s trading desks, the largest sibility for the traders’ actions. fine ever tied to the illegal prac- Daniel Pin- tice known as Spoofing. to, the co- president Let’s first understand spoofing of JP Mor- better. Spoofing involves flooding gan and the derivative markets with or- CEO of the ders that traders don’t intend to Corporate execute, to trick others into mov- & Invest- ing prices in the desired direction. ment Bank The practice has become a focus said on 29 for prosecutors and regulators September in recent years after lawmakers 2020, “The conduct of EDC DDUC

~by Archita Jain and Tushar Sethi THE INDIAN STARTUP CULTURE India ranks third in the global cade has seen massive startup Startups and Unicorns have been list of countries with the largest growth in India and this could be the buzzwords for a couple of startup ecosystems, right after attributed to the various schemes years now and needless to say, the U.S. and U.K., and it seems like launched by the Government. this decade has been the decade there is no stopping this growth. Advent of Technology - Busi- of startups. All around the globe, Our country recorded an addi- nesses have grown by leaps and we’ve seen the rise and fall of tion of nearly 13000 new startups bounds due to the advent of tech- various startups. For every Oyo, in the year 2019, with the number nology, which has made the vari- Zomato, and Flipkart, countless of tech startups reaching around ous business processes quick, other startups were not able to 8900-9300. simple and efficient. survive and had to shut shop. Funding abundance- Startup own- However, India as a whole has REASONS FOR STARTUP BOOM IN ers can approach angel investors, been doing quite well and has INDIA venture capitalists, seed funding, grown and built an ecosystem of The startup growth in India was etc. This availability of options and startups for itself. This growth was gradual but consistent and there easy capital accessibility has also not achieved in a day, and you can are quite a few reasons why India contributed to the growth of the continue reading to know more became a hotspot for startups. startup ecosystem in India. about how this was achieved. Talent abundance-. There are millions of students graduating BANGALORE- THE NEXT SILICON EVOLUTION OF STARTUPS IN IN- from colleges and B-schools ev- VALLEY? DIA ery year. Many of these students Its well-publicised troubles with The word startup is often synony- use their knowledge and skills to basic infrastructure aside, Banga- mous with Silicon Valley in the U.S., venture and make something of lore is proving that it is by far and which saw the rise of today’s tech themselves, contributing to India’s wide India’s startup capital, aided titans like Facebook, Google, Ap- startup growth. in the assumption of this title by ple etc. However, now the dynam- Low setup cost - India is a labour- the software companies which ics around the world are changing intensive country rather than a first put the city on the global map. and that too very rapidly. Startups capital intensive one. Also, the A strong community of engineers are now synonymous even with labour here can be hired at very with global work experience, sav- Shanghai in China and Bangalore cheap rates. vy customers and growing pools in India. Government Boost - This past de- of early-stage capital, are trans- 30 ENVISAGE EDC DDUC

forming the city into a global start- (over 1000 VC firms) and you Just like Silicon Valley, Bangalore up hub, much like the Silicon Val- have everything in hand to is also a hub for these companies ley in the United States. make the next big tech uni- and known for its advanced tech- corn. nology. This can be seen by the REASONS FOR THE EXPONENTIAL Less obvious is how the Sil- number of multinational corpora- GROWTH OF STARTUPS IN BAN- icon Valley culture fosters tions that have offices in Banga- GALORE startups. Two things stand lore, such as Apple, Intel, Cisco, The unique culture of mentorship, out. First is the amount of Adobe and Google. This shows that despite the potholed roads, patchy cooperation you can get the city is a hotspot for technology power supply and endless traffic, from total strangers. The that contributes and evolves tech- entrepreneurs, flocking to Karna- entire valley seems to work nology enablement in India and is taka’s capital, say they are drawn on the “pay-it-forward” also a great place for opportunities to a unique culture of mentorship model. Folks will go out of their to extend technological companies and networking that pervades the way to provide support, connec- in the Asian market. Bangalore is city. tions, and advice in the most un- home to 35% of India’s 2.5 million expected places. The second is the IT professionals. Bangalore is a A high density of entrepreneurs way people deal with failure. It is city that has created endless op- and investors is also drawing es- more like a badge of honour than a portunities for entrepreneurs to tablished entrepreneurs to relo- stigma. People will constantly talk shine and expand. cate to the city. about how one closed door, led to Overall, Bangalore is gaining a “If you are a technology firm fo- other opportunities and subse- global level of recognition as The cusing on the global market and quent success. Silicon Valley of Asia, grabbing the cannot start in Silicon Valley, then attention of investors, engineers Bangalore is the best place,” said Banglore’s Strengths and technicians. It could one day Pallav Nadhani, who moved his The technology scene in India is become Asia’s tech hub but it still venture Fusion Charts from Kol- very reminiscent of what Silicon has at home many environmental kata two years ago and has since Valley was in the 90s. Lots of ex- and safety issues that need re- clocked revenues of Rs 40 crore. citement. Lots of companies, and solving before it can start compet- money, and tech companies getting ing with the likes of Singapore and Reputation as a hub for cutting all the headlines. What’s different, China. edge technology- however, is the incredible innova- As dozens of new companies build tion at play. Another advantage we products in information technol- have here is the extreme hunger to ogy, healthcare, education and re- succeed. Today every one of them tail, Bangalore’s reputation as a is dreaming of creating the next hub for cutting edge technology is success story. Companies like being underlined further. Flipkart and PayTM may get all the headlines, but there are hundreds STRENGTHS OF SILICON VALLEY of smaller initiatives at work in AND BANGALORE small offices and apartments even today. As more and more people Silicon Valley’s Strengths realize that entrepreneurship is The most obvious asset of Silicon not just about risks but can lead to Valley is the immense talent pool. unheard rewards, the talent pool It still attracts the best talent from is deepening even more and start- around the world. You can accom- ing a very virtuous tech and entre- plish amazing things very quickly preneurship cycle. with a small team in SV as the pro- ductivity is just so high! Add to that Bangalore, why is it also referred the tremendous access to capital to as “The Silicon Valley of India”? EDC DDUC ENVISAGE 31

~by Sakshi Lohani and Kanak Rustagi T HE COVID-19 PANDEMIC ry. Kundan Mishra, the founder of sister duo of Pratika Khandelwal was completely unex- Custkart got so intrigued by the and Vaibhav Khandelwal came to pected and came as a story of TVF Pitchers that he didn’t the rescue by founding a mental surprise, well certainly take the placement from his engi- healthcare start-up, Felicity. This not an enticing one. The neering college, Sikkim Manipal Jaipur based start-up bridges the world changed in different aspects Institute of Technology, instead gap between demand and sup- from economic to social and the started planning his start-up. ply for mental healthcare by con- same goes for startups and busi- Custkart, a customised merchan- necting people online to psychol- nesses, some enterprises failed dise start-up was started by Kun- ogists for video therapy sessions while others succeeded. Let’s take dan and his brother Abhishek in and audio and text chats break- a closer look at some of these June 2020, a period of complete ing the geographical boundaries. companies. lockdown but this didn’t stop them The start-up helps people with is- from making it a success, start- sues such as depression, loneli- ing with zero investment and just ness, stress, anxiety and more by Sowing seeds 10 orders to become Rs. 50 lakh providing counselling at afford- The pandemic was a hard time turnover business; there is no able prices with different plans for most of us; we stopped some- looking back for these two broth- such as the ‘Explore’, ‘First Steps’, where, took a break or just cut ers. The tag of starting some- ‘Mind your Mind’ etc. This start-up things off from our life, and some thing in a small town like Bokaro, even breaks the language barrier. people didn’t take that as an ex- Jharkhand didn’t stop cuse and started their ventures. them from dreaming Time doesn’t cease for anyone big and giving back to and neither shouldn’t we, let’s dig their native place. a little into these start-ups. FELICITY CUSTKART The pandemic has af- Most of us are fans of web series fected our health vig- and usually daydream of being orously, not just physi- a part of it; well, this Jharkhand cally but mental health based entrepreneur took it up to has also taken a rough a whole new level and made the space. In light of this story of the series his own sto- situation, the brother- 32 ENVISAGE EDC DDUC

POOJA SANSAR India is a country of festivals and Rising stars celebrations, but the pandemic The pandemic took a toll on our took away the brightness of our lives, be it personal or profes- diyas and put a stop to our joy- sional, but for some enterpris- ous poojas. Pooja Sansar, a Patna es, it brought about growth and based start-up made it very clear change. We learnt that it’s a mat- that nothing can stop us Indians ter of situation, for some it is bad from finding solutions for our and for some it is good. Talking happiness. Started by the trio of about the profits, those dealing in father-daughter-son in October pharmaceuticals, generic medi- 2020, they provide ritual kits for cines, medical equipment such as various occasions or any sort of masks, sanitisers and whatnot, all pooja with all the necessary in- saw a boom. Apart from pharma, gredients. Sanchie Shroff, a B. businesses in the I.T. spaces like Gaga. Well, the outcome certain- Com. Graduate from Shri Ram video conferencing, online teach- ly doesn’t matter as it all was in College of Commerce, University ing and e-commerce grew expo- favour of the beauty product ag- of Delhi was working in Banga- nentially. Let’s dive into the stories gregator and e-commerce com- lore and came back during the of a few companies that succeed- pany Nykaa, which reached the lockdown and that is when she ed despite the trying times. coveted unicorn status last year. started her entrepreneurial jour- The fashion e-tailer started in ney along with her brother Aad- ZERODHA 2012 by Falguni Nayar was valued itya Anand and her father Anand Locked in our homes with neither at $1.2 Billion in April this year. It Prakash. In less than a month the means of recreation nor the need even secured Rs. 100 crore fund- start-up earned a revenue of Rs. for spending, we were left with a ing from Steadview Capital, U.K. 1.5 lakh and now they are also lot of savings. Also, to increase contributing 50% of their profits to productivity and skill in the lock- PINE LABS the NGOs. down we learnt about investing Amid a pandemic when physi- and trading and thought of set- cal transactions became difficult, THE NATURAL WASH ting our feet in the stock market; Pine Labs, an Indian merchant The ubtans that our grandmoth- this is where the fintech company platform, came to the rescue of ers used to apply on our face had Zerodha came in, which touched many failing businesses by pro- a completely different charm that new heights of success in 2020. viding financing and last-mile none of these chemical fed prod- The current valuation of this Ben- retail transaction technology. It ucts can ever have. Focusing on galuru based company is around provides a merchant platform these old age remedies for the $3 Billion. A trading platform- and makes software for point- skin, Akshit Goel and Shivangi Goel GoldenPi even raised Rs. 3.5 crore of-sale machines. It was founded launched a personal care start-up from this enterprise in June 2020. in 1998 by Rajul Garg, Lokvir Ka- TNW- The Natural Wash, providing The founders Nithin Kamath and poor and Tarun Upaday in Noida cost-efficient and chemical-free Nikhil Kamath made it to the list and has a current valuation of $1 products. Started at the end of of India’s 100 richest 2020. Billion, mainly rising during the 2019 the company shortly met the lockdown. It also had a deal with lockdown but that didn’t stop them NYKAA financial services major Mas- from achieving amazing goals and The pandemic made us all try tercard in January and currently they clocked Rs. 22 Crore turn- our hands at different things or serves over 1,50,000 merchants in over last year with a revenue of at the very least get a little more 3,700 cities. Rs. 10 Crore and aim to reach Rs. creative and channelise our in- 40 crores by the financial year’22. ner James Charles and ace our As a return gift to nature, they pro- makeup skills. Some did a great vide maximum recyclable pack- job and became beauty influenc- aging and a low lather formula for ers on social media, while others their products. became Wish.com version of Lady EDC DDUC ENVISAGE 33

MULTILIVING TECHNOLOGIES al reality and music with simulation pany tied up with several retail- Rental properties always create technology and proprietary gami- ers, hypermarket stores and FMCG some problems in one or the other fication technologies which was Brands to meet the demand for form to either the tenants or the a favourite spot for gamers in the essential items which had surged owners, that is where MultiLiving malls, but the pandemic wreaked due to the lockdown, given that our technologies can help by creating havoc on this company and they de- cooking skills reached new heights a tech-enabled rental housing eco- cided to shut down as the extended and we required different ingredi- system that enhances the proper- lockdown did not provide any hopes ents every day to satisfy our inner ty’s rental value by giving reliable of malls reopening any soon. On 15 Gordan Ramsay. According to the and scientific value to the asset. September 2020 the founder sent officials, they didn’t find the busi- Despite the pandemic, they were an official mail to the employees ness scalable and decided to shut it able to increase their homeowner stating “I am sorry that despite my down just after two months of op- customer base by about 500%. They best efforts, I have failed to save erations, to focus back on food de- plan to provide their customers the company from its premature livery as slowly the lockdown was with a platform for finding perfect death.” lifted and people couldn’t hold their rental living solutions. hunger for restaurant’s food. SWIGGY DAILY Final Countdown An innovative experiment by the GOLD’S GYM A lot was lost to the deadly virus- food delivery company Swiggy was One of the largest gym chains in the life, jobs, opportunities and obvi- to provide subscription-based daily world, Gold’s Gym, couldn’t work ously health. The same goes for home-cooked food via a separate out the problems caused by the many businesses which couldn’t app Swiggy daily. Launched in May COVID-19, and as a result it filed for bear the brunt of the pandemic, 2019, it was shortly shut down in Chapter 11 bankruptcy protection. they failed and declared bankrupt- July 2020 as it couldn’t stand the The gym chain was forced to tem- cy. According to the National Com- low demand because of the nation- porarily close locations across the pany Law Tribunals (NCLT), a total wide lockdown and also as people U.S. in March; the very next month of 283 companies went into insol- were hesitant to order online. Long- in April, it announced that it is going vency amid the pandemic after the story-short it didn’t have any other to close 30 company-owned loca- nationwide lockdown. Let’s visit option apart from shutting down its tions. some of these companies that were operations. on the wrong side of the pandemic. ZOMATO MARKET SMAAASH Zomato the food industry giant tried Founded by Shripal Morakhia and its hands-on grocery delivery ser- launched in 2012 SMAAASH was a vices by launching Zomato Market gaming and entertainment centre, in April 2020, providing its servic- with a combination of sports, virtu- es in around 80 cities. The com- 34 ENVISAGE EDC DDUC

LESSONS FROM THE JUNGLE Welcome to the jungle. It is a highly competitive area and survival of the fittest is the rule of the land. Those who are weak or inattentive do not get a second chance and thus, fall prey to those in the upper trophic levels of the food chain. -By Bhavika Gupta and Hansika Chhabra EDC DDUC ENVISAGE 35

As the famous saying goes “Every morning in Africa, a gazelle wakes up, it knows it must outrun the fastest lion or it will be killed. Every morning in Africa, a lion wakes up. It knows it must run faster than the slowest gazelle, or it will starve. It doesn’t mat- ter whether you’re the lion or the gazelle when the sun comes up, you’d better be running.” This is the real essence of the corporate world and in specific, the startup life. While the survival rate for a startup is phenomenally low, it remains a humongous challenge even after the initial budding years. The area of decision-making determines the key to survival. Whether our idea will be able to capture the audience or whether we will be able to find proper funding, every startup hopes of surviving the tough competition. Lessons from our fellow Jungle Mates Agility is the key to success, and when it When it comes to being observant, look no comes to agility, the leopard is the ani- further than the mighty eagle. With their ac- mal to look up to. In an era where change is curate vision, they can laser focus on their rapid and uncertainty prevails, we constantly prey. Startups should learn to observe the need to be on our toes and align our goals in market and customers. Create a vision, make pursuit to the ever-changing world. a strategic plan and work according to it. Ea- A Leopard is known for its agility, it can track gles like to use the storm’s wind to fly higher, its prey on the ground and also climb trees to similarly, startups should use disruptions in hunt. It is capable of moving silently through the market, and other inevitable disturbances the forest and at the same time mobilizing a to their benefit. You should appreciate and ac- burst of speed. Similarly, startups have to be cept the challenges to make your mark in this dynamic to align themselves with the market world. changes. They should be swift in their moves and should take decisions with utmost preci- As the saying goes, “when life gives you lem- sion to avoid preventable blunders. Startups ons, make lemonade.” should wait for the perfect moment. Although Eagles put their children in discomfort while you are moving closer to your goals, you are teaching them how to fly. The young ones working every day to grow your startup, you eventually fly when it becomes unbearable must wait for the right moment to pounce, nev- to stay in the nest. Now, this does not mean er pounce before the correct time(exceptions that you should put your co-workers and em- are always there however to be honest). Learn ployees in difficult situations. It simply implies from experience just as leopards learn to hunt that you should be exhaustively trained and from their mothers. well prepared for any situation. 36 ENVISAGE EDC DDUC

Moving on to the next important lesson of per- There are certain times when situations are sistence, let’s take a look at the little beavers. out of hand and startups find themselves in a These creatures have determination and per- dark phase. Here resilience comes handy. Re- sistence written all over them. Beavers them- silience is the ability and capacity to recover selves weigh around 20kgs but they can make quickly from difficulties. When we look at the a 100kg tree touch the ground. They make their animal kingdom, one reptile comes to mind own paths and work with confidence. Startups that has a tough skin which can last for years should never give up and persistence should be and is tough as nails. Yes, you guessed it right, their core value. it’s the crocodile. When we take a closer look, There might be a lot of difficulties in your way, but we can see that it can survive on land and in if you believe in your idea and yourself, there’s water (partially so to speak) making it quite nothing that can stop you and your startups to adaptive. Startups should continually evolve reach the pinnacle of success. and change with time. From changing busi- ness models to managing changing technolo- Passion, creativity, and resilience are the gies, startups should be resilient and should most crucial skills in business. If you’ve keep contingency plans handy to deal with the got those, you’re ready to embark on the problems. journey.” In the case of startups, many founders fear competition and feel that they are a small player in the market, but the real truth (and a secret that no one shares) is that you don’t need to fear size. Size doesn’t play a major factor in success; it simply doesn’t matter. Have you ever watched wild dogs go on a hunt? If not, it’s definitely worth watching. Do try and compare it to a lion. If we say that wild dogs are more successful in catching prey, will you believe it? The facts do support this, wild dogs’ success rate is around 80% which is significantly more than that of a lion. This is all because wild dogs work as a pack while lions hunt alone. The most crucial aspect of a startup or say any busi- ness is its team. The management principle of Esprit De Corps states that there should be a team spirit and all the members should be treated as a part of that team. Startups should foster a sense of coordination and should focus on team building from the very beginning. Conclusion A jungle has a lot to teach and there’s something to learn from each animal. Managers can be inspired by the jungle in numerous ways. Startups that understand the rules and lessons of the jungle early are the ones that prosper. That’s it for this jungle lesson. Does your startup have that sense of urgency, clarity of reality (that is not covered with your assumptions) and an overwhelming drive to make you the king of the jungle? EDC DDUC ENVISAGE 37

XaaS Why is everything a service now? -By Bhavika Gupta 38 ENVISAGE EDC DDUC

With the onset of newer technologies, services are gaining more and more traction. Though several tech- nological developments prove to be useful, many of them seem to create disruptions in the market. It is in- creasingly about business agility. Now, let’s start by exploring the basic concept of XaaS. “Anything as a service” (XaaS) refers to a broad cat- This business model is increasingly becoming a egory of remote access services. It acknowledges a common choice for upcoming startups and al- large number of products, tools, and technology that ready existing corporations. Credits to service are now available as a service over the internet to platforms, Netflix, Google Cloud, etc, who are users. Essentially, every function can be turned into swiftly adopting this “on-demand” model and em- a service that can be consumed by businesses or bracing its benefits. by their customers. Let’s break it down to simpler One major factor that contributes to the adoption terms so that it makes a little more sense. of such a business model is that some customers are overshot. The customers purchase products Everything as a service uses X as a placeholder that are either too expensive or too complex for for any kind of product, meaning that the business their purpose. They have agreed to the fact that- doesn’t sell the product itself but charges for the us- had the products been given at a lower cost and age or the output of the product, such as pay-per- lower functionality, there would’ve been a wider use or a monthly flat fee, like Uber. It’s simple, you’re acceptance of the products! Let’s start with a not buying a car from Uber, you’re just using the car question, do you think that we are heading to- as a service for one-time use. wards a future where “everything” will be given as a service? We all know where the service world is heading, it is touching the skies, while the global goods market is bottoming down. In the past few decades, the world has seen a rise of the service sector. As a result, many businesses now face the pressure to lower operating costs whilst simultaneously up-scaling to satisfy the ever-increasing demand of a worldwide marketplace. Shifting our focus back to XaaS, now let’s understand why ‘anything as a service’ is such a trending topic in the business world. XaaS in businesses In this kind of model, ‘X’ can replace anything, like security, infrastructures, platforms, digital storage, or anything! Businesses and startups look for opportunities to adapt themselves to the latest trends and disruptions in the market. Some common types of XaaS and their application in the business world are listed below: Software as a service(Saas) is a software distri- One of the major benefits of SaaS to startups is its bution model in which a third-party provider hosts operational costs. SaaS applications save a lot of applications(softwares) and makes them available money because startups don’t need any addition- to customers over the internet. A survey by Financ- al support staff to install, maintain or upgrade the es Online suggests that about 86% of companies in software. Not only that but it also allows a lot of the U.S. will be running entirely on SaaS by 2023. customization. Now that you are aware of its ben- Even Netflix provides software to stream movies efits, whenever you’re trying to save some money online. It uses the SaaS model and offers software in business, don’t forget to think about SaaS. to its users on a subscription basis. Our favourite graphic designing website, Canva is (*A side note: Uber also works on Saas) offered as a cloud-based SaaS product. There is nothing more to add when even these well-known startups have successfully nailed the Software as a Service model. EDC DDUC ENVISAGE 39

Platform as a Service(Paas) can help startups to Infrastructure as a Service (IaaS): Many start-ups leverage the services provided by third parties to favour it due to the flexibility and convenience it host their platforms where they can build, manage offers. IaaS eliminates large monetary outlays to and run applications without feeling the burden of purchase expensive hardware outright. managing the infrastructure. Amazon Web Services is quite popular when the The world moves at a fast pace. The only way to term ‘cloud computing’ is raised. It offers a wide cope up with this speed is through continuous in- range of storage services and is probably the novation. PaaS can quickly set up the foundation best example to give when it comes to IaaS. It’s a of the application, allowing startups to deploy it little technical, isn’t it? Don’t worry, just think of it easily! as AWS is providing an online warehouse for the Your startup needs your time, and with PaaS by storage of information. your side, you can focus on your core business! Startups generally start small and then grow exponentially. IaaS is flexible and can scale up and down really fast to adjust according to the demand. Even the hardware and other resourc- es can be purchased based on consumption re- quirements. It won’t ditch you in terms of cost benefits and easy scalability! The Future With its compelling benefits, and due to the fear of being left out in the rat race, many startups and cor- porations are applying the XaaS business model. It can be our future but there are some things to be considered before that. Customers are becoming increasingly open to niche players, especially for XaaS. For XaaS to work, the platform will have to provide all the tools needed to connect the necessary sensors, store and aggregate the information, and make predictions. A reliable platform ensures the consistent flow of information, so productivity could be improved easily and effectively. Technology will continue to disrupt, enhance and ease human lives; companies and countries that truly appre- ciate the impact of IT development and work actively to foster it are the ones that will stay on the global fore- front. “The days of labour arbitrage are over. Automation is king – and it’s driving the kind of savings that in years past might have been gained through offshore models and currency conversion” ~Steve Hall, ISG 40 ENVISAGE EDC DDUC

CROSSWORD 1 2 5 3 4 6 78 9 10 11 12 13 14 15 SCAN TO PLAY ACROSS DOWN 2. A risky project or business idea. 1. The company that has acquired delivery start up DailyJoy. 4. This Company has partnered with a not-for-profit organisa- 2. Entrepreneurs need this for their future and it helps to make tion, SEEDS to launch a community COVID-19 vaccination room to achieve their goals. drive and setup COVID care centres. 3. The ability of a business to grow fast without increasing its 5. In June, 2019 it became India’s first start-up to receive invest- production cost. ment from Facebook. 6. To increase your community of professional connections. 7. A working model used by entrepreneurs to determine what it 8. The difference between cost and the selling price of a product takes to develop their products or services. or service. 10. The famous car brand that was originally a farm equipment 9. ___Das, the Indian athlete who has been made an ambassador manufacturer. by PepsiCo for its sports drink brand Gatorade. 13. Innovation means new, creative, unique ideas and a way to 11.To propose a business idea, usually with the goal of obtaining turn those ideas into actionable solutions. a contract or funding. 14. ____Finserv, the only company that launched ‘Savdhan 12. An organization or space dedicated to supporting new busi- Rahein, Safe Rahein’ (a public awareness campaign on financial ness ventures. fraud risks). 15. A newly established business. ENVISAGE 41 EDC DDUC

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DESIGN TEAM Aditya Golani Shailendra Singh EDITORIAL TEAM Abhijai Chaturvedi Hamza Moini Ritika Kapoor Archita jain Hansika Chhabra Sakshi Lohani Ayush Choudhary Kanak Rustagi Simar Sekhri Bhavika Gupta Ekta Shroff Tushar sethi RESEARCH TEAM Aashray Sena Charu kushwaha Satvik Srivastava Ankur Kushwaha Kushala Prasad Shiv Bansal Nikita Gupta FUN ZONE Chevy Jain Chhavi Karn Ipsha Khatter AIC Ankit Rana EDC DDUC ENVISAGE 45

TEAM@EDC COUNCIL Dhananjay Tanwar Anisha Verma Sanya Rastogi Arpit Pradhan Vaishnavi Singhal Mehak Seth Kush Bansal Chitraksh Uppal Anjali Kushwaha Shraddha Rastagi Pankaj Khatana Shubhangi Jain Himanshi Batra SENIOR MEMBERS Aashima Verma Peeyush Chawla Shatabhisha Gayan Shubham Sharma Aashray Sena Abhijai Chaturvedi MEMBERS Aditya Golani Akanshi Sharma Charu Kushwaha Jatin Wadhwa Riva Yadav Anannay Aggarwal Chevy Jain Joel K Reji Robin Ahuja Ananya Agrawal Chhavi Karn Sakshi Lohani Kanak Rustagi Satvik Srivastava Ankit Rana Deepanshu Yadav Khushi Aggarwal Shailendra Pratap Singh Ankur Kushwaha Devika Thapar Shiv Bansal Diksha Kapoor Kritika Goyal Shivam Garg Ansh Sethi Drishti Mishra Kushala Prasad Shubhi Agarwal Archita Jain Ekta Shroff Lakshit Sehgal Simar Sekhri Ayush Choudhary Gaurav Meena Sumit Verma Ayush Mavi Hamza Moini Lavanya Puri Suyash Tripathi Ayush Singla Mohamed Churihar Tushar Sethi Barbie Nagpal Hansika Chhabra Niharika Motwani Varnika Vishwakarma Bhavika Gupta Harsh Saraswat Vartika Garg Harshit Kumar Nikita Gupta Vatsal Aggarwal Himanshu Bhola Piyush Aggarwal Vedhant Sureka Prarthana Joshi Ipsha Khatter Janvi Saini Priyanshi Jain Rishabh Jain Ritika Kapoor EDC DDUC 46 ENVISAGE EDC DDUC