A panel discussion with Innovation and Start-up Ecosystem Enablers under the banner if IIC of DAV College started up at 12.30 pm in the committee room of college where Prof. Punit Puri Innovation Activities Coordinator introduced all the panellists to the audience starting with Mr. Joga Singh Atwal an entrepreneur and social activist along with his son Mr. Arunvir Atwal a young business expert who started his start-up idea in 2018 and is running it successfully, Sh. Mohan Singh Lead District Manager UCO Bank Jalandhar, Sh. Satinder Saini District coordinator Gramin Bank and Sh. Sarabjit Singh Micro finance expert. Prof Puri welcomed them and Principal Dr Rajesh Kumar honoured them with Planters and Token of Gratitude for participating in the event and welcomed them to DAV College Jalandhar which is a premier institute with a legacy of 106 years.
Principal Dr. Rajesh Kumar said that Entrepreneurship and innovation are closely related but distinct concepts. While innovation involves introducing something new, such as a business model, product, idea, or service, entrepreneurship focuses on turning a great idea into a viable business opportunity.
Innovation is the starting point for entrepreneurship, as it involves the creation of new and valuable ideas. However, entrepreneurship goes further by taking on the risk and responsibility of bringing those ideas to market and building a successful business.
Innovation plays a crucial role in promoting growth, enabling organizations to adapt to evolving market trends, and ultimately driving profitability. While innovation can involve the creation of entirely new concepts, it also includes improvements and enhancements to existing products, services, or ideas. It disrupts the status quo and encourages a departure from traditional approach. Innovation requires fresh thinking, creativity, and the ability to identify opportunities for change and improvement.
Firstly in the panel discussion started Mr. Joga Singh Atwal was asked to throw light on how he got motivated and started up with innovative idea of business plan and that too by empowering women and what kind of help was required and what were the difficulties.
Mr. Joga Singh Elaborated his views about how an Innovative Idea came to his mind in 2014 and he gave this credit to Prof Lakhbir Singh of DAV college Jalandhar and how he approached various agencies and banks to get loan how he started his business with two machines and how they reached the number twenty and now more than one hundred machines are there where women from nearby area come and get training and work for their livelihood and recently he got orders of 5000 laptop bags made of jute from G20 summit.
Sh. Mohan Singh Lead District Manager explained detailed procedure on how to prepare the proposals and how one can get their loan sanctioned. The government schemes were discussed such as Prime Minister’s employment generation programme (PMEGP) weaver mudra scheme(WMS) Pardhan Mantri mudra yojna (PMMY), Atamnirbhar Nidhi Scheme, Stand up India Schemes. He laid emphasis on brain drain going on in India and in relation to that youth should bring up good idea and good startup plan to the banks where they can be provided minimum loan of ten lacs without collateral security and 3.5 lac subsidy will be provided by the government of India if plan gets successful.
Sh. Satinder Saini DCO Gramin Bank Jalandhar answered many queries of students related to loans and its repayment various bank plants and rate of interests for startup plans and whom to approach for loan what preparations are required for an individual to be eligible for the loans etc was told.
Mr. Arunvir Atwal shared his experience regarding how he was able to establish his business starting from 2018 till date he is progressing and had added other products such as detergent making soap and hand wash making along with phenol for household purpose. All his products are local and involve underprivileged people and women from villages who are supporting their families by earning money through such startups.
Sh. Sarabjit Singh told about the online portals for applying loans and even 4 lac loan takes single day for processing and it’s a simple procedure, how can we calculate the interest factor by using online calculator and there is no need to pay any money to middle man as one can himself apply for various schemes online.
The discussion continued and students took enormous interest in the activity by asking many questions related to the topic even the LDM and DCO shared their mobile numbers with the audience for any king of clarification and help.
LDM Sh. Mohan Singh promised Financial Literary Camp sponsored from RBI government of India in DAV College Jalandhar for students.
In the last Prof. Punit Puri thanked all the panellists and called upon Dr. Dinesh Vice President of IIC, DAV College for a Formal Vote of Thanks.
Dr. Rajan Sharma, Prof. Vishal Sharma, Dr. Navin Sood, Dr. Reena, Dr Vinod Bishnoi, Prof. Pankaj Bagga, Sh. Abhisheik were present during the panel discussion and participated actively.