Unlocking Entrepreneurial Success: Exploring the LBA and NVD Programs at IMI Kolkata

At IMI Kolkata, the Local Business Accelerator (LBA) and New Venture Development (NVD) programs are pivotal in providing students with invaluable experiences and skills necessary for entrepreneurial ventures.

Local Business Accelerator (LBA) Program

The LBA program is a unique opportunity for first-year students to partner with startups based on their past work experience, academic background, and personal interests. This program is carefully curated to ensure that students are immersed in startups where the learning curve is steep and there's no shortage of hands-on tasks.

Each month, students dedicate the first week to collaborating with these startups. This hands-on approach allows them to dive into real projects and contribute meaningfully from the very beginning. Here's how the program unfolds:

Selection of startups based on individual qualifications Dedication of the first week of each month for project work Duration of six months

The evaluation process for this program is straightforward yet rigorous. It includes a three-part evaluation by:

An external examiner A faculty mentor An industry mentor

This evaluation ensures that students are not only learning but truly living the business environment alongside founders and leaders who are dedicated to the art of entrepreneurship.

New Venture Development (NVD) Program

For those with innovative ideas but lacking the know-how to initiate, the NVD program provides a comprehensive solution. In this program, students form teams, brainstorm, and develop a business idea from the ground up. It's not just about having an “aha!” moment, but rather going through the entire process of bringing an idea to life.

The immersion in the program is extensive, covering aspects such as:

Market research Pricing strategy Fundraising Marketing Sales

The goal of NVD is not just to build a theoretical model but to create a business plan that has the potential to be launched in the market. The final grade is assessed based on evaluations from an external examiner, a faculty mentor, and an industry expert. The stakes are high, but so are the rewards.

Why These Programs Matter

Experience is the cornerstone of success in business, and the LBA and NVD programs at IMI Kolkata are specifically designed to cater to this need. These programs provide students with hands-on experience in developing real projects and gaining feedback from industry veterans.

Upon completion, students graduate not only with theoretical knowledge but also with a portfolio of real-world projects, robust industry connections, and a sharp entrepreneurial mindset. These programs are invaluable for anyone serious about making a meaningful impact in the business world.