Teams from more than 130 Universities across India are competing for the Best Business Idea Award

“New and innovative business ideas should be economical viable and should bear long term revenue generation model to sustain itself in today’s competitive world” said Dr. Pramod Kumar Chairperson, Haryana Governance Reforms Authority (HGRA) & Director, IDC. He was speaking during the inaugural ceremony of the National Level Business Idea Competition “EFFECTUS 2017” organized by Chandigarh University, Gharuan in association with National Science & Technology Entrepreneurship Development board (NSTEDB), Government of India. Student teams form more than 130 universities, institutions and colleges all over India participated during the national level business competition “EFFECTUS 2017”.

Dr. Pramod Kumar further added that “India requires young entrepreneurs so as to become a developed economy like USA, Japan, Germany which are considered to be leading in the entrepreneurship and innovation space”. Entrepreneurship in developed countries like USA and Japan is growing at a whopping pace of 20% whereas in India it is growing at a mere rate of 2% annually, said DR. Kumar. While addressing the students, during the inauguration ceremony Mr. Pawan Kumar, Scientist, Department of Science & Technology (DST), Government of India said that “Universities can play a vital role in development of the new generation of entrepreneurs for the country as they can learn the important aspects of being a successful entrepreneur during their academic learning phase”. Government of India is offering financial support to the universities across the country to establish technology business incubators where the next generation of entrepreneurs can be nurtured and given a chance to transform their ideas to business ventures” added Mr. Kumar.

Dr. Pramod Kumar along with Satnam Singh Sandhu, Chancellor Chandigarh University launched the “CUCIRCLES” a startup developed by the university students. Cu-circles developed by  Anmol Puri , Dev Aggarwal is a student oriented social networking portal which will help the students across the world to get connected to the fellow students of universities and share the academic resources such as books, notes, assignments, joint research and will also help them to attain video lectures of  renowned faculties teaching in different educational institutions.

 Representatives from leading international and national investment groups which include Mr. P. Srikant, Director& Investor, Hyderabad Angel Investors, Mr. Mukesh Malik, AH Venture, Mumbai, Mr. Amit Mishra, Co-Founder & Investor, TAN Advisors Pvt Ltd, Singapore & Mr. Preet Chandok, Investor, TAN Advisors Pvt Ltd, Singapore are taking part in “EFFECTUS 2017” to judge the potential ideas which can be transformed into business ventures.

Speaking on the occasion, Satnam Singh Sandhu, Chancellor Chandigarh University said “To become a successful entrepreneur one requires passion, innovation and strong determination rather than money”. While referencing to the leading entrepreneurs of the world like bill Gates, Steve Jobs, Mark Zuckerberg, Satnam Singh Sandhu added that “All of them didn’t possessed any degrees from university but had the passion to establish world class technology giants that would develop world class products for the society”.