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| K-Hub Winners Club Launched |
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The ISB Knowledge Hub (ISB K-Hub), the virtual business incubator set up by the WCED with support from the Government of Andhra Pradesh to promote the creation and growth of high technology ventures, is now in the process of creating a Winners Club, a set of technology-intensive manufacturing ventures operating in the State of Andhra Pradesh that have the potential to be winners in national / global arena.
The key to success of such high technology entrepreneurial ventures is the presence of relevant managerial capabilities to steer them through the turbulent start-up and growth phases. The ISB K-Hub positions such ventures on the path to success by providing mentoring support and access to a range of services crucial to the sustenance and growth of these ventures.
The typical path that a Winners Club member takes to success is depicted below:
Launch Event
The K-Hub Winners Club was launched at a function at the ISB Campus on November 28, 2006. Several manufacturing companies in the SME sector were invited to the launch function and encouraged to apply for membership to the Club.
As a part of the launch function, Dr Chandrasekar, Executive Director – WCED spoke to the gathering on A Strategic Approach to Identifying Growth Opportunities and Dr N Viswanadham, Executive Director – Centre for Global Logistics and Manufacturing Strategies at the ISB spoke on Leveraging Manufacturing Capabilities to Create Competitive Advantage.
ISB K-Hub expects to identify its first set of members by the end of January 2007.
Creating the Winners Club
Eligibility
Firms eligible for membership to the Winners Club would:
- Have technology leadership potential and be globally competitive
- Have been in commercial production for at least 2 years
- Have a turnover of less than Rs 15 crores
Selection Process
Members of the K-Hub Winners Club would be selected through a three-stage process:
Stage 1 – Nomination: Potential Winners Club members would be nominated by the bank/lending institution providing them financial support or by the District Industries Centre in the district where they are located. A Screening Committee of VCs and academics would short-list eligible nominees to Stage 2.
Stage 2 – Business Summary Evaluation: Nominees recommended to Stage 2 are required to submit a brief summary of their business. An Expert Committee of VCs and Business Persons would recommend their participation in the Presentation Round.
Stage 3 – Presentation Round: Companies / Firms selected to participate in this stage will make a presentation to a judging panel consisting of VCs, entrepreneurs, and academics. Based on the presentation, the judging panel would select members of the Winners Club.
Evaluation Criteria
A nominee for membership to the K-Hub Winners Club would be evaluated on the following criteria:
- Capability of attaining a position of leadership in the technologies it works with
- Potential to nationally / globally market its present and future products
- Presence of capabilities needed to achieve its potential, and ability and willingness to acquire the capabilities needed, if any
- Strengths and weaknesses of top management team, and its willingness to seek and work with additional talent, if necessary
Membership Benefits
Members of the Winners Club will be:
- Incubated and mentored at the ISB K-Hub
- Provided preferred access to support from ISB knowledge resources
- Provided opportunities to showcase their ventures to VCs and investors
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