Greater Kashmir Srinagar | December 5, 2017, Tuesday

11

Youngest female entrepreneur

Let’s startup at GES-2017
How to open a company in J&K Class 9 student plans to harvest
energy from rain water

W
Concern and at the same time very useful. You hen you can make energy a manufacturing

IDEA ! can logon into www.udyogjk.com and from wind, why not from unit and to reach
15 DAYS TIME FRAME
Mir Saqib apply for registration online along with rainwater? This ques- the global market.
 mirsaqibali@gmail.com
project report and PAN card. After few tion from her father inspired their Keen to have
days you need to submit a hard copy of 15-year-old girl from Azerbaijan to a partner in her

F
or every enthusiast and aspiring ONE PERSON PARTNER the application with District Industries set up a company to do exactly that. start-up and enter
entrepreneur, there is this confusion Centre (DIC) of your respective district. Reyhan Camalova is the young- the Indian market,
about ‘how to start’. You may have Within a time frame of 15-20 days, provi- est female entrepreneur who attend- she got an opportu-
a business idea but how to give it life is sional registration will be issued against ed the 8th Global Entrepreneurship nity to participate in the pitch com-
frustrating. And advice from consultants PLACE OF ESTABLISHMENT the fee of Rs1,000. If you don’t want subsi- Summit (GES) held in Hyderabad petition.
makes it more complicated. Though con- OR OFFICE OR SHOP ETC dised land and incentives from the state recently with the theme "Women Coming from Quba region of
ceptualising an idea does not take much government, you can directly register first, Prosperity for all". Azerbaijan, she likes chemistry,
25 DAYS TIME FRAME

time but for implementing it one finds at http://www.msmeregistration.org, The Class 9 student was one of physics and mathematics among
himself in a mystery land in a place like Government of India’s organization for the three entrepreneurs referred other subjects at school. Some of her
Jammu and Kashmir. Eventually, most PARTNERSHIP DEED OWNED PLACE RENTED PLACE Medium, Small and Micro Enterprises. to by US President Donald Trump's school mates and physicists have
of the startups, in a state of desperation, This registration is recommended, as daughter and advisor Ivanka joined hands to work on the project.
die a death even before coming out from it is comprehensive and valid through- Trump in her speech at the inaugu- "Rainwater has huge potential if
womb due to formalities and legalities out India. It is very easy as you can do ral session. utilized properly," said the girl, who
RENT DEED
one needs to fulfil. it online and start instantly but having "Reyhan is 15 years old. But that has designed a smart generator to
PAN CARD Aadhaar is must for it. hasn't stopped her from founding a harvest energy from the rain.
company that harvests energy from "The initial prototype of Rain-
If you don’t want
30 DAYS TIME FRAME

rainwater," Ivanka said ergy produces 22W of power and

subsidised land and It’s very important to "Reyhan has a powerful motto lightens up to 22 LED lamps. While
incentives from the state remind here that before - Light up one house at a time. piezoelectric rain generators pro-
BANK ACCOUNT registering as a ‘private Reyhan, each home you light up duce only 25 microwatt of power,
government, you can is illuminating the world. We are our model is much more efficient in
directly register at GoI’s limited company’, one all inspired by your brilliance and comparison with similar systems,"
MSME Organisation http:// needs to understand hard work," she added. she added
www.msmeregistration. that initially it is more of Reyhan is attending the GES for It also stores energy in the accu-
15 DAYS

GSTN the first time and is trying to find mulator so that it can be used even
org, online but having DIC/MSME a liability than asset, as investors for her start-up Rainergy. there is no rain at all.
15 DAYS

Aadhaar card is must REGISTRAR OF it attracts more than 30 "I am looking for investment for Reyhan claims that rain energy
COMPANIES (PVT LTD)
percent corporate tax on
20 DAYS

making energy device," the teen- reduces the amount of CO2 emis-
for it. This registration FSSAI license / aged CEO and Founder of Rainergy sions to 10 g per KW/hour during
is recommended, as it is BIS/ISO9001:22011/ gross profit. For a startup, told IANS on the sidelines of the the production of the electricity.
HACCAP
registering as a private
30 DAYS

comprehensive and valid summit. "This amount is very low compared

throughout India. limited company is not The girl, who hails from a middle to the other current alternative
recommended, it should class family, needs $20,000 to set up energy solutions," she added. IANS
FSSAI LICENSE come in later part of the
Usually, we come across two types of
business.
aspirants: One, who wants to do some-
thing and has plenty of ideas but is not GES-2017: Ajaita Shah declared grant
sure which one to choose. This person
has a fantasy about being an entrepre-
MANUFACTURER TRADERS
In case you are interested in estab-
innovation champion

A
neur but not sure about their ideas. But lishing a ‘Private Limited’ company you jaita Shah from India has Materials, from
another one is focused and determined ONLINE APPLICATION DECLARING PROCESS ONLINE APPLICATION need to register with Union Ministry of been named the 2017 Global the United States,
AND PRODUCTION
about the idea and scope of it. Virtually CAPACITY WWW.FOODLICENSING.FSSAI.GOV.IN
WWW.FOODLICENSING.FSSAI.GOV.IN Corporate Affairs through a practising Innovation through Science received the
30 DAYS

doing business in mind and need to give
it life in real world, but is jammed and
cornered with lack of information on
legalities and other necessary steps for
giving life to a business or entrepreneur-
ial idea.
To start any kind of company in J&K,
one needs to get ready to give it an organ-
isational shape by fulfilling certain legal-
ly binding procedures. And this article
(part of a series to help in this regard)
will try to explain how to get started with
the help of a chart in easy steps.
For any kind of venture in Jammu
and Kashmir, it is must to have an offi-
cially recognised name and address
(place of establishment). The name, for
example, M/S ABC Enterprises, can be
given as per one's choice. However, it is
subject to availability for the registra-
tion purpose. Two entities or businesses
cannot be opened in Kashmir division or
Jammu division with a similar name,
the way two people cannot have a similar
email id with Gmail or with any other
such service provider. In case of address,
one needs a shop, office, warehouse, shed
or land etc, as per the requirement of the
line of activity, owned or rented by you
(your partner or one of the partners).
In case of a rented place, you need to
execute rent deed with the owner of the
place. In case rent deed is not available
electricity bill in name of one partner
will work (in case of partnership firm).
If you are starting from your home as the
office, you again need a rent deed agree-
ment or authority letter by the owner of
the house, which is usually your father,
mother or grandfather in your case.
Once a place of establishment is done,
the next step is a partnership deed exe-
cuted by a registrar of a district level
court, in case you are partnering with
FEE TO BE PAID AT ANY
FEE TO BE PAID AT ANY
KHIDMAT CENTRE MIN KHIDMAT CENTRE MIN
RS: 100- (SUBJECT TO REVENUE)
RS: 3000/- (SUBJECT TO
REVENUE ABOVE 2cr CALLS
PRODUCTION CAPACITY)
FOR CENTRAL LICENSE.
SITE INSPECTION BY DISTRICT FOOD INSPECTOR
NOT APPROVED APPROVED
ABONDONED
APPROVED BY DIRECTOR FOODS AND DRUGS
AND INSTANTLY REGISTERED
someone else in your M/S ABC Enter- tory registration you must have, you
prises. Else you don’t need to anything need to register your company as per
here. the requirement. The line of the activity
Once your partnership and place of or nature of the business one is inter-
business are established, you need to ested in the opening would determine
apply for PAN Card under M/S ABC further required legal compliance. You
Enterprises. Once you get PAN Card No, can register with the registrar of com-
you need to open a bank account in any panies, DIC (MSME registration), GST
bank. These five steps are necessary no registration. For most of the services
matter what will be your line of activity (including online portal, e-commerce
(manufacturing, trade, e-commerce, ser- startups) MSME and Goods and Servic-
vices etc) and need to be dealt with one es Tax (GST) registration would suffice,
by one. Any attempt to multitask will but it is important to note that for any
take more time than actually required kind of activity the GST registration is
(shown in flowchart). mandatory.
To shape your idea in a proper ven- Now GST registration can be done
ture, you need to adhere to all manda- online, free of cost. Estimated time is 15
tory procedures. The way of jugaad days. GST registration is mandatory in
may initially work for you but sooner any form of business at present, whether
than later legalities would be required it is a service, manufacturing or trading.
at every level and not adhering to them Previously commodity wise TIN regis-
would create a lot of issues at that time. tration was used and you could only deal
So it is recommended to utilise initial with a particular commodity but GST
time for all the required legalities, in that allows one license across the country
way you will get enough time for your and for all businesses and commodities.
idea to flourish. For manufacturing and service indus-
Once you are done with the manda- tries, MSME registration is mandatory
chartered accountant, with two people or
more as directors. However, now a single
person can also register a ‘Private Lim-
ited’ company OPC Pvt Ltd (one person
company).
It’s very important to remind here
that before registering as a ‘private lim-
ited company’, one needs to understand
that it is more of a liability than asset ini-
tially, as it attracts more than 30 percent
corporate tax on gross profit. So before
you go for it, be sure about tax factor. For
a startup, registering as a private limited
company is not recommended, it should
come in later part of the business.
Last but not least don’t forget to
get FSSAI (Food Safety and Standards
Authority of India) license whosoever
trades in or makes food products. It’s
very important to legalize your busi-
ness. For FSSAI license, you can apply
online with the fee of Rs 100 from your
nearest Khidmat Centre. Manufactur-
ers need to define the process of pro-
duction and production capacity that
will actually determine the annual fee
for the license, which starts from Rs
3,000. For a food trader minimum fee
is Rs 100 for the state license, but this
is required when you start selling your
product until that it won’t be neces-
sary.
So we are ready with a list of docu-
ments needed to get started, which we
will need for GST registration.
We have just legalized our company
but not the products and the process of
product making, which will generate us
the actual revenue and business. Prod-
uct legalisation is done by doing few
more registrations plus we need to save
our products and company from intellec-
tual theft. Next time, we will talk about
how to do that.
and Technology (GIST) Catalyst
pitch competition Grand Cham-
pion during the closing plenary of
the 2017 Global Entrepreneurship
Summit. Her startup, Frontier
Markets, is a last mile distribu-
tion solution for energy products
with a focus on solar technology
that empowers women. Frontier
Markets gives women in India the
tools they need to teach their com-
munities about the benefits of solar
power and sell solar products.
As the Grand Champion, Shah
will receive $50,000 USD in Amazon
Web Services credits; a Dell laptop
computer; admission to the 2018
Circular Summit from Alice; an
exclusive virtual mentoring ses-
sion with an Amazon Executive;
$100,000 USD in Google Cloud cred-
its; an interview for Inc. Magazine
by Elizabeth Gore, Entrepreneur-
in-Residence and Chairman of
the Board of Alice; admission to
the 2018 Circular Board Accelera-
tor cohort from Alice; and will be
designated the Cognizant “Genesis
Award” Winner and receive $2,000
USD in cash, courtesy of Cognizant.
Jainesha Sinha, founder of Gyan-
Dhan, from India; Fiona Edwards
Murphy, founder of ApisProtect,
from Ireland; and Vaishali Neotia,
founder of Merxius Software, from
India; all made the finals for the
GIST Catalyst pitch competition. As
finalists, they will receive $10,000
USD in Amazon Web Services
credits, a Dell laptop computer, a
Circular Summit scholarship from
Alice, and $100,000 in Google Cloud
credits.
Molly Morse, founder of Mango
Women First
Award from
Amazon Web
Services. As the
Women First
recipient, she
will receive $50,000 USD in Amazon
Web Services credits, an exclusive
virtual mentoring session with an
Amazon executive, and a Dell laptop
computer.
Runner-ups will receive $5,000
in Amazon Web Services credits,
$20,000 in Google Cloud credits and
a Dell laptop computer. And each
of the remaining semifinalists will
receive $1,500 in Amazon Web Ser-
vices credits. In total, GIST Cata-
lyst semifinalists competed for over
$400,000 USD in startup resources.
Semifinalists in the GIST Cata-
lyst competition were chosen based
on a combined score that took into
account their performance during
the public vote portion of the com-
petition, their pitch video, and
feedback from expert judges who
reviewed each of the over 75 start-
ups that competed.
During the competition, semifi-
nalists were split into four pitch ses-
sions based on the four GES focus
industries, which are Healthcare
and Life Sciences, Digital Economy
and Financial Technology, Energy
and Infrastructure, and Media and
Entertainment. One finalist was
chosen by a panel of judges from
each focus industry during the pitch
sessions. The four finalists then
competed in one final pitch session,
after which a panel of judges picked
Shah as the GIST Catalyst Grand
Champion. – Courtesy ges2017.org

Entrepreneurship

Entrepreneurship education: A vital cog in today's education system

Entrepreneurship skills and motivation to encour- institutions and the universities skills among the students. These should begin at an early age, from the western universities ness plan
Saad Parvez age entrepreneurial success in a to promote entrepreneurship are: perhaps right from the early imparting education in entre- • Determine impact on
 saadparvez@nitsri.net variety of settings. through education and stress 1. To form the basics like school level. Later, it should preneurship indicate that up to unemployment
It is imperative for a bud- its importance at all levels from reading and writing, when complement with a parallel vol- 20 percent of students who par- • Changed attitude toward
ding entrepreneur of today, to primary school to university it comes to succeeding in untary and business-focused ticipated in the "mini-company entrepreneurship as a

E
arlier, there used to be
a strong perception that
flourishing entrepreneurs
are born and cannot be made.
But this contemplation of the
meaning of a successful entre-
preneur is slowly changing
because of the success rates
witnessed around the world
as a result of imparting a well-
conceived, well-designed and
well-implemented education
plan. In today's scientific and
technological era, many tech-
niques and methodologies have
been evolved to impart knowl-
edge and skill base to eventu-
ally any profession or trait.
Entrepreneurship in education
is about inspiring entrepreneur-
ial potential among those who
want to understand the science
and art of entrepreneurship or
want to become effective entre-
preneurs by eventually making
most of their business deci-
sions, using scientific tools and
methodologies rather than mere
thumb rules. It seeks to provide
students with the knowledge,
have a right mindset, skill and and beyond. Entrepreneurship the complex world. approach, applying a more programmes" in entrepreneur- means of making a living
knowledge as well as a positive education prepares people to 2. To enhance the value of narrow definition of entrepre- ship during secondary school To conclude, it could be
attitude, in order to generate be responsible and enterpris- knowledge obtained from neurship. The three important level have later started their said that entrepreneurship is
creative ideas for the entrepre- ing individuals. It helps people the Science, Technology, ingredients of entrepreneurship own companies. That is up to a vital cog in today's education
neurial initiative and to turn develop the skills, knowledge, Engineering, Arts and educations: skill, knowledge five times higher than that of system not only at the gradu-
those ideas into action. Entre- and attitude necessary to Math disciplines (STEAM). and attitude have to be included the general population. Busi- ate and postgraduate levels but
preneurship in education is achieve the goals they set out 3. To develop solutions for in the curriculum design at dif- nesses started by these students also at the primary and the sec-
about developing a key compe- for themselves. Evidence, from complex problems by inte- ferent levels of learning. At the are also more ambitious. Other ondary school levels. Such pro-
tence, supporting economic and the west, shows that people with grating the knowledge pre and primary school levels, it data indicated that economic grams should widely be pro-
social wellbeing. In particular, entrepreneurial education are gained in the STEAM dis- is the skill and attitude, which activities increased sharply due moted and taught in the coun-
these are the skills that could more employable, successful, ciplines, thus transforming needs to be inculcated into the to the implementation of entre- try which could go a long way
increases employability of any better entrepreneurs and more knowledge into value. minds of young students. At the preneurial education in US uni- in catering to the innovation
individual as well as infuse importantly better employees. Entrepreneurship in educa- higher education and bachelor's versities in the 1970s. and entrepreneurship needs
strong interest and aptitude for Entrepreneurship in educa- tion makes students more cre- level, it is the knowledge-based The benefits of entrepreneur- of the nation. NIT Srinagar, in
value creation. tion is the content, methods ative, opportunity oriented, pro- education, which is important ship in education to the students particular, has started work-
Entrepreneurship is a skill and activities supporting the active and innovative as well as whereas, at the masters level, of higher learning are as fol- ing to design a PG course in
that can be learnt. It is not creation of knowledge, compe- helps them to adhere to the wide entrepreneurship programs lows: entrepreneurship and innova-
always necessary for an indi- tencies and experiences that definition of entrepreneurship must address issues pertaining • Demonstrate skills in busi- tions which could eventually
vidual to be a born entrepreneur make it possible for students relevant to all walks of life (abil- to knowledge, skill as well as ness startup benefit the students as well
to run a successful business. to initiate and participate in ity and willingness to create attitude. There has to be a right • Demonstrate skills in main- as budding entrepreneurs of
One can become a successful entrepreneurial value creation value for other people). It ben- mix of practice and theory ori- taining business longevity the valley. Other universities
entrepreneur by developing processes. It is the intervention efits students from all socio-eco- entation programmes at differ- • Demonstrate knowledge of and education department of
an entrepreneurial mindset of pedagogue in letting students nomic backgrounds because it ent levels of imparting such an business closings versus the state should also think of
and skills. India, in general, learn to create value for other teaches to think outside the box education. failure designing and implementing
and J&K in particular, needs people, either by ‘learning-by- and nurtures unconventional Young people with entrepre- • Ability to find next level courses to foster the culture of
more entrepreneurs creating doing’ or ‘learning-by-creating- talents and skills. Furthermore, neurship education are more of training or access other entrepreneurship.
jobs, and as such it's necessary value”. it creates opportunity, ensures likely to develop proclivity resources and services
to support this type of educa- There are, in general, three social justice, instils confidence and interest towards becom- • Demonstrate business man- Author is associate professor at
tion in the country. As such, important reasons to inculcate and stimulates the economy. ing entrepreneurs and set up agement/ operation skills NIT, Srinagar, and heads its IIED
it is important for educational entrepreneurship thinking Entrepreneurship education their own economic units. Data • Use components of a busi- Centre

        CMYK        