KMC Innovation Lab organized “Reflection of Business Canvas Training and Competition”, a three-day workshop along with Idea Studio Nepal. The event was guided by well-known speakers like Mr Baibhav Pandey (Founder and CEO of Netrakart), Ms Pallavi Guragain (Co-founder of Urban Farms Pvt. Ltd.), and Dr Tshering Lama (Executive Chairman and Co-founder of Idea Studio Nepal).
The workshop touched on topics that empowered entrepreneurs to solve social and economic issues in depth. Entrepreneurship is generally viewed as a concept of successfully generating and managing a business. However, at its core, a multifaceted stream of roadblocks and hurdles exist that many ventures face which is both inevitable as well as essential.
Guided by these pit stops, a structured foundation of the business is constructed. The workshop initially presented the participants with tools and techniques that would later aid in the formation of constructive ideas for business models. As with any business formation, it is essential to lay a proper foundation.
This generated the necessity of creating a proper business canvas model, these models encompass everything from understanding cost structure, revising the revenue streams, and managing customer relationships to recognizing key partners.
Insights from Mr. Baibhav Pandey characterized ideas as a constant stream of opportunities, and failure as only a necessity to achieve this greatness. He also stressed how each one of us can make a positive change if we are persistent with our ideas.
Moreover, guidance from Ms Pallavi Guragain on stabilizing the core of the business through a strong foundation was applauded and noted as it is widely recognized as a path often leading to sustainable businesses. As days progressed, students (aspiring entrepreneurs), through the incorporation of various tools and ideas, incubated new frontier business models that addressed societal problems as well as global challenges.
One noteworthy idea, by “Yeti”, winners of the competition, focused on introducing a healthy alternative to commuting around the bustling city with bicycles. It addressed the foreshadowing impact of climate change through an eco-friendly and sustainable alternative to transportation. “Paral” another inspiring initiative secured the second position, which also happened to be my team, garnered the idea of repurposing straws (paral) from crop processing into takeaway containers and other functional items.
This would undoubtedly aid in easing polycarbonate circulation as well as building a core for proper waste management logistics. The third position was awarded to “On Hub”, their idea is to create a digital platform for students to showcase their talents. As everything is going digital amidst the pandemic, this team coming up with such a creative idea shows how effectively they managed to grasp the situation around them and create a viable alternative.
In the words of Dr. Tshering Lama “Success means nothing if the value isn’t addressed”. This empowering quote followed through with his relentless grief on how he would rather be a poor citizen of a wealthy nation to the contrary made me rethink my end goals. I realized my wealth wouldn’t hold any value if I fail to contribute to my community.
Similarly, his emphasis on being rooted in the place you belong to made it clear that you can follow a global trend without forgetting your indigenous roots and form a successful business around it. Through his guidance, it can be realized that focusing on solving problems is key to success, hence the meaningful end goal.
Romina Udas is a student in 3rd semester, BBM at KMC
