On World Entrepreneurship Day, IDEAL Company Initiative to Nurture Entrepreneurs in India Announced
A new, high-quality entrepreneurship development initiative announced in Hyderabad, India between USA-based Vivekin Group, and Hyderabad-based ATraC
Press Release (PressBurner) Apr 18, 2009 - Hyderabad, India. On World Entrepreneurship Day (April 17), US-based Vivékin Group (www.vivekingroup.com) and Hyderabad-based ATraC (www.atracglobal.com) announced a first-of-its-kind program that nurtures entrepreneurs who are planning to start their ventures. Called IDEAL (Initiative to Develop Entrepreneurs and Leaders) Company, the program is designed to create an entrepreneurial ecosystem that will not only help aspiring entrepreneurs to develop their ideas into fully operational businesses, but also mentor them for a year as they set up and run their organizations.
“Indians are a very entrepreneurial people, but are deterred by the lack of a structured process that will teach them how to set up and run organizations. Most importantly, IDEAL Company (www.myidealcompany.com) will help to create an entrepreneurial mindset that will stay with the participants beyond the making of a business plan, which, of course, will be one of the deliverables of the program,” according to Baba Prasad (Ph.D., The Wharton School), President and CEO of Vivékin Group. The concept of IDEAL Company goes beyond funding competitions that expect entrepreneurs to present sound business plans without providing input into how to evaluate ideas or how to structure businesses around these ideas. At the same time, IDEAL Company does not see itself in the category of incubators, which help only a limited number of startup companies.
The year-long IDEAL program will pilot in Hyderabad in June 2009, and will begin with a series of contact workshops over eight weekends in June and July 2009. During these workshops, participants will learn to develop an entrepreneurial mindset, beginning with learning and applying the cutting edge framework of leadership intelligences developed by Vivékin Group. The highly selective program will also enable the participants to present their businesses to prospective investors. For an entire year, participants become eligible to seek the support of the IDEAL Company as they form and run their businesses. “Most startup businesses fail because the entrepreneur has no support or mentoring, and more often than not, for the entrepreneur, a small problem appears as much larger, which leads to the entrepreneur closing shop. By providing a mentoring platform and handholding these businesses for a year, we help them succeed both in commercial success and also in becoming better leaders, better people,” say Shyam Mantha, Co-Founder of ATraC.
The exciting IDEAL Company will begin accepting applications from the public on their website (www.myidealcompany.com) from April 17, World Entrepreneurship Day. Participants for IDEAL Company will be selected through a rigorous admission process, and the group size will be limited to 30.
For more details visit: www.myIDEALcompany.com or contact Dr. Prasad: +91 984 928 1390 or Mr. Shyam: +91 995 994 1212
