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WADHWANI FOUNDATION | CREATING JOBSCHANGING LIVES Entrepreneurial Thinking Next-Generation FellowshipProgram Activate. Week1 https://www.wfglobal.org CREATINGJOBSCHANGING LIVES

Milestone1 Explore Milestone2 Discover Week 1:Intro Entrepreneurial Thinking Week 2: Opportunity Week 3: Customer Week 4: Value Value Proposition Sustainable Differentiation Week 5: Competition Analyzing competition Creating Competitive Advantage Week 6: Business Model Lean Canvas Week 7: Test Prototype Market Validation Week 8: Refine Financial Feasibility Sustainability Week 9: Enhance Go To Market Sale Planning Overview of the program and your learning journeyover the 10 weeks: WADHWANIFOUNDATION|CREATINGJOBSCHANGINGLIVES 3 Week 10: Funding Funding Options: Early Stage Opportunity Evaluation Problem Definition Market Type Finding your Niche Customer Persona Milestone3 Go-To-Market Milestone4 Launch

CONCEPTS Program introduction: ● Overview of the Program ● Skills needed by entrepreneurs ● Common misconceptions about entrepreneurship ● Dealing with Ambiguity ● Understanding Design Thinking WADHWANIFOUNDATION|CREATINGJOBSCHANGINGLIVES WADHWANIFOUNDATION|CREATINGJOBSCHANGINGLIVES 4 By the end of the week, you will be: ● Able to appreciate the Course flow and your journey ● Sensitized to Entrepreneurial mindsets ● Sensitized to working with ambiguity ● Understand Design Thinking ● Ready to get Activated ● Team Formation ● Taking Stock of your Resources

Program introduction& Welcome Message Welcome to Next Generation EntrepreneurshipFellowship. Weareveryexcitedtohaveyouhere withusandwepromiseyouthatyou will have a life changing experience intheupcoming10 weeks. The program is aimed at empowering you with an entrepreneurial mindset and business skills to enhance your job prospects, help you develop entrepreneurship skills, and get you started on the entrepreneurship journey using the lens of Design Thinking. You will also learn about the risks and rewards in choosing entrepreneurship as a career option. This is not a theoretical course –you will start your venture and build it as you progress through this course. The course follows the “Watch – Think – Do” pedagogy in a highly experiential learning format. You also get to experience entrepreneurship through the activities and milestone tasks provided throughout the course. Get ready for the ride –an action packed –10 weeks! WADHWANIFOUNDATION|CREATINGJOBSCHANGINGLIVES 5

What is Entrepreneurship & Who is an Entrepreneur? Keep in mind as an entrepreneur you need to dig deeper into anything that you encounter. Do not accept easy and quick answers, validate any info and read more to make sureyoufindtherightanswers. Sonow,goreadaboutwhatis entrepreneurshiponyour own. It is very important to start your venture building journey with understanding what is entrepreneurship and who is someone you can call an entrepreneur. There are many definitions for entrepreneurship. After digesting these definitions, you will start understanding whyentrepreneurshipis veryimportantfor the worldandneedednow more thanever! Herearesomeofthedefinitions that webelieve will helpyouunderstandwhat is entrepreneurship and who is anentrepreneur: The new (true) meaning of entrepreneurship Forbes WADHWANIFOUNDATION|CREATINGJOBSCHANGINGLIVES 6 How to get Started? Entrepreneur.com Insights into the entrepreneurial journey of some greats A Wadhwani compilation How Did I Find My Flow and Start My Company? Varun Khona, Co-founder & CEO, Headout

Common Misconceptions about Entrepreneurship As we mentioned before, entrepreneurship is a very broad topic. It is more than just a discipline to study - itis amindset, awayofliving andbeyond.This is why entrepreneurship has no definite rules; everytime new rules are set, someone will prove themnotveryaccurate.So,keepinmindthattherearealwaysexceptions foreverything we say and everything you read. However, it is very uncommon that you become the exception.This is whythereis averydistinct difference betweentakingacalculatedrisk and an uncalculatedrisk. Nowyoumightfindthis veryindecisive andambiguous, but then,ambiguity is the essence of entrepreneurshipandwewilltackle it next. Inthepartbelow,wehighlight someofthe most commonmisconceptionsandmythspromotedabout entrepreneurshipthat wecan ensure youarenottrue! This will help you demystifymythswhile pursuing your entrepreneurial journey. Myth3: Myth4: Myth5: Myth6: Six myths about entrepreneurship: WADHWANIFOUNDATION|CREATINGJOBSCHANGINGLIVES 7 Myth 1: Myth2: An NEN Perspective

Skills that anentrepreneur needs to buildventures To become a successful entrepreneur starts from adopting an entrepreneurial mindset – certain ways that entrepreneurs think – this is called the entrepreneurial method. The entrepreneurial method is a different way to interpret and understand entrepreneurial failure or success. It offers a rooted paradigm that applies across all sectors and a selfcheck mechanism that helps entrepreneurs craft their own path in venturing. The Entrepreneurial Method – Principles of Effectuation WADHWANIFOUNDATION|CREATINGJOBSCHANGINGLIVES 8 Saras Sarasvathy Paul Hammaker Professor at University of Virginia Darden School of Business So how do you measure on your entrepreneurial tendencies? Here is a way to find out. General Enterprising Tendency (GET) Test, Durham University The test has been designed to bring together and measure a number of personal ‘tendencies’ commonly associated with the enterprising person. These include: • Need for achievement; • Need for autonomy; • Creative tendency; • Risk taking; and • Drive and determination. General Enterprising Tendency Test embodies the enterprise tendencies described above, expresses them in statement form and measures enterprise aptitudes against norms. The test has been developed following research into a variety of measures used to determine entrepreneurship and enterprise. It has been validated with a number of different groups of personnel and amended accordingly. The aim during this research and development process has been to develop a measure of enterprising tendency rather than of entrepreneurial traits. What happens if you don’t score well on the GET? Does this mean that you are not cut out to be an entrepreneur? Well –actually its an opportunity for you to see which areas you score well on and which are your areas of development. Now armed with this information you can choose co-founders with complementary skill sets and mindsets

Entrepreneurship& Ambiguity Itis importanttounderstandthatambiguity is theessence of entrepreneurshipandany venture building journey.Asentrepreneurs, youarebuilders, creators, visionaries andthis requires alotof strength, confidence andbelief. Think aboutit,if youaretryingtobuild somethingthatdoesn’texist,howcanyoubesureitis goingto work?Howis it goingto look? Isit goingto fail?Areyougoingto succeed? Whathappens if yourexpectations werewrong?Butif youareright andyouhit ajackpot,yourbusiness becomesa multi-milliondollars companyserving hundreds ofthousands of users inyourcountry, regionormaybeeventhe wholeworld! Well,to startwith, wewillteach youhowtocreate theories, validateassumptions andtest themquickly withoutlosing muchmoneyandtime.Andwewill helpdirecting youonhow youcanempoweryourself with a set of skills that will makeyour entrepreneurialjourney moreprecise. Doesthis meanitis goingtobeless ambiguous? We wish wecouldsayyes, butdefinitely this will notbethecase. Managing Extreme Uncertainty the Startup Way Theonetraitforsuccessful Entrepreneur: Whileendingthediscussion aboutambiguity,wewantedto share with youanexperience of an entrepreneur who founded tens of companies and has summarized his years of experience inavideotalkingaboutthemost commonreasonswhycompaniessucceed basedonhis experience: Thesingle biggest reasonwhystartups succeed This won’tdecrease thelevelof ambiguity butit gives you headsupabout someofthefactors that canleadtoyour success WADHWANIFOUNDATION|CREATINGJOBSCHANGINGLIVES 9 Lean Start-up, By Eric Reis Forbes Ted Talk, Bill Gross

Design Thinking Successful entrepreneurs start with a human-centric approach to their solutions. Design Thinking is inseparable from entrepreneurship as everything you do with respect to building your business idea, model, product-market fit is centred around the people. Design Thinking is based on 5 key components: WADHWANIFOUNDATION|CREATINGJOBSCHANGINGLIVES 10 Read this blog, Entrepreneurship and Design Thinking to understand how closely knit these two disciplines are • Be focused on understanding the needs of your customers Empathize • Synthesize, reframe and define your problem • Keep your customer in the center Define • Create as many ideas as possible to solve the unmeet needs, challenges, pain points of the customer. Ideate • Adopt a hands on approach to bring your ideas to life Prototype • Test your prototype to check if your solution meets the needs of the customer Test

Call to Action! Well! You have looked at the essential skills required to embark on your entrepreneurial journey. Youcanalwaysusethesamemodel inthefuture andapplyit onanyproblem youareworkingon to ensure properanalysisoftheproblem WADHWANIFOUNDATION|CREATINGJOBSCHANGINGLIVES 11 Task 1: Team formation Step 1:The Pitch Those of you who have ideas, an opportunity that you think is worth pursuing, PUT YOUR HANDS UP! Provide a 2-minpitch of your idea. Step 2: Nomination Once all the idea pitches are done, the other members of the class can nominate themselves to teamup the idea that resonatesmost withthem. Step 3: Formation The Pitchers then get to choose the members that they would like to team up with based on their entrepreneurial tendencies and complementary skill-sets. Remember the ideal size of a team is 3 members. Step 4: Activation The team sets roles – CEO, COO, CTO etc. Get creative with your titles!

Call to Action! Well! You have now formed your teams! What should you do next? A good place to get started is to take stock of your means. Here, you will apply the first effectuation principle, Bird-in-Hand. This exercise will teach you to become aware of your strengths individually as well as in your teams. Fill up the table below to take stock of what you have on hand right now. When you cumulate each box for the team you get a snapshot of your team strengths as they are today! You have 30 minutes to complete this task. The information that you have filled up above sums up your resources. It is perfectly ok if you do not have a lot to write in these boxes at this stage. This is just the beginning… 12 WADHWANIFOUNDATION|CREATINGJOBSCHANGINGLIVES Who am I? (List your values, attributes, and abilities here, e.g., honest, sincere, hard-working, go-getter, empathy, ability to get along with people) What do I know -1? (List your hard skills here, e.g., software programming, drawing/sketching, writing) What do I know -2? (List down your soft skills like decision making, negotiation, or leadership skills) Whom do I know? (People in your network -Think of people, not your immediate college environment, but also outside it.) Task 2: Take Stock of your Resources

Milestone1 Explore Milestone2 Discover Week 1:Intro Entrepreneurial Thinking Week 2: Opportunity Week 3: Customer Week 4: Value Value Proposition Sustainable Differentiation Week 5: Competition Analyzing competition Creating Competitive Advantage Week 6: Business Model Lean Canvas Week 7: Test Prototype Market Validation Week 8: Refine Financial Feasibility Sustainability Week 9: Enhance Go To Market Sale Planning Overview of the program and your learning journeyover the 10 weeks: WADHWANIFOUNDATION|CREATINGJOBSCHANGINGLIVES 13 Week 10: Funding Funding Options: Early Stage Opportunity Evaluation Problem Definition Market Type Finding your Niche Customer Persona Milestone3 Go-To-Market Milestone4 Launch

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