INAUGURATION OF INNOVATION CELL

CA Robin Banerjee – Managing Director, Caprihans India Ltd and Mr. HarjeetKhaduja – Senior Vice President, Reliance Jio inaugurated our innovation cell “Avinya” (meaning innovation in Sanskrit language) on Saturday, 1st April 2023.
Mr. Banerjee spoke about India’s visibility in the global market. The decade starting 2023 belongs to India as per IMF and World Bank. No brand can its position for granted; organizations need employees with an innovative, creative mindset. Infrastructure spending, foreign investment, the digital transition and inflation heading lower were cited as causes for optimism.
Mr. Khanduja said knowledge, skills, adaptability and attitude are four important ingredients organizations look for in employees while hiring. Hiring the right employees has a major impact on the efficacy of an organization. With the best people on board, organizations experience higher productivity and a strong company culture. He advised the students to reinvent themselves during their two years course at the institute.
The aim of the Innovation Cell is to encourage innervational streak among the students. Also, the innovation cell will be guiding and counselling the micro, small and medium entrepreneurs and NGOs in the surrounding area of the institute.
Students of Semester II presented their start-up ideas to the guests. Mr. Banerjee and Mr. Khanduja judged the presentations. The judges guided the students on how to present business plans by pointing out importance of financial feasibility, team efforts and finding the right market in today’s VUCA world; today’s Ideas are tomorrow’s history. Finding the right market and segmenting it is the key for successful startups. The learning outcome of the exercise was superb.
Sustaining innovation typically refers to innovations that improve daily needs of people. New products are demand that improve standards of living of consumers. The ‘move fast and break things’ era is over. The new product and services are accepted in market only when they prove their potential.
The event was ceremonial.