 Welcome to the second session of our module, which is team building. Building a team is extremely critical for any startup. As we know, 23% of all entrepreneurial ventures fade away because the team parted ways. The journey from the start till this point you make it is not easy and as an entrepreneur, you need to ensure that you have the right people with the right competencies to work in your team. I cannot forget this incident nearly six years back, we had invited Mike Leons, a professor from Stanford in the area of venture creation to come to IIT to give a lecture. He was being invited by the Desai City School of Entrepreneurship and of course getting a professor from Stanford was expensive. Thanks to Bharat Desai who was the founder of our Desai School of Entrepreneurship, he said let us learn, let us not look at the money. And the first lesson which Mike Leons told us was about team building. And he also mentioned that's extremely critical to have varied skill sets in the team rather than have your co-founders with the same skills. That stayed on with me and we also know how critical it is for any startup to really do good if they can have all the key people with the key skills in the same team. We're going to have Professor B Ravi, the head of the department of Desai City School of Entrepreneurship talking to us in module five. He has come up with a wonderful formula for team building. What he does is he actually builds teams with varied skill sets for a particular problem and then invites all of them to do a hackathon and takes them to multiple hackathons one after the other. This way the team bonds also and we have seen some of the best companies coming out of the Betik Center at IIT Bombay. For our session today we have Dr. Rupesh who is our CEO of the Betik Center. He was also a PhD student and he has seen this whole ecosystem of entrepreneurship from day one and he's been great at team building and conducting these hackathons. In this session you'll also see how our MTA students of IIT Hyderabad are going to build their teams for their startup project. Thank you so much Rupesh for joining us in the evening to tell us how the team formation and how we should look at our problem statement and then choose the type of partners we can choose for our entrepreneurship venture. So thank you so much for joining us and let us see your template to take this forward. Sure, thank you Professor Chakradu for inviting. This is a pleasure. So as I said as mentioned, apparently there's an event going on eMedic which is eMedic is standing for Medical Device Innovation Camp. Usually we do it physically at IIT Bombay where multiple discipline people come together. They form teams and solve life problems. Here this time for the first time we are doing it online. So we had about 75 participants and this is we had two tracks, entrepreneurship track and industry track and we had five different groups for categories of people. Green if you can see is more notified by the medical side doctors. Again, even in medicine if you see there are n number of branches but we have to club them together. So the eight entrepreneurs track doctors who were with the bend that they want to become entrepreneurs were put in that category. There were eight electronics, computer, IT people. There was mechanical production, physics into that other category, biomedical biotech pharmacy in one and special group design management finance. Now we had a challenge is that each of them said no, but I am also a mechanical engineer who did my masters in bioengineering. So can I not go into biomedical category? Now that doesn't matter here. Somebody says that I was a production engineer but I'm an MBA now. So that also doesn't matter. It is about what hat you are going to wear in the team to solve that problem. So you have two streams that's good. You can always leverage whatever your basic engineering or basic degree doesn't matter. What hat you wear to solve the problems more important here is what we mentioned. So in fact we have one cardiologist who is actually being part as a biomedical person because of the skill set experience they have. So that is how you have to lower down your egos, be flexible, move around and try to say what hat do I wear? What is the role that they take in this team to solve that one problem? They're bound by the mission of solving that one life. So let me also share something parallel which may again help you what we are doing and that may help you to form your own teams also. So once you have your team formed and once you have your problem area identified that is where what professor Chakrat also said the bottom part prior art you'll have to see from various angle what are the current devices or existing devices which are available, what are their limitations and that just expands each of this team as we speak currently in our program is filling that what are the relevant companies which have similar products? What are the current patents? So prior art doesn't mean only products. You also have to go and search, go ahead, what are existing patents which may not be commercialized, which may stop you from your idea coming into market. So you have to look at patents also. And third is there are people who have published research they did not find for a patent nor made a product but just made a public information. Now you have to also know that that information is available to everybody and your product or category design should not fall in that because that's public knowledge which means everybody can make the product that you're making. So you have to be very careful when you do prior art. Additional to this there are some things like what are the regulatory barriers in that product in your country you have to understand what are the standards you have to follow. So if it's a consumer product, what are the standards? Electronic product then safety design features have to be there. So you have to also design not just the shape, form, feel material but also what is the regulatory part of it then business barriers also will come in picture that also will come in all this is coming down. You have to condemn that one problem needs statement which I think you guys call design brief. The design brief comes out for that problem and then you write your functional requirement user requirement gets translated which can be converted into something which when you test you you qualify when you say it should be lightweight lightweight is a very vague thing. You might as well say weight less than whatever 200 grams to be carried by pregnant women. That's a good definition. Then when you test it, you can actually qualify it. That's how verification works in medical devices. It's a separate segment. But these are some of the points which could help you start with team. What are the categories you look? What are the problem definitions you should look? What are the functional requirements? How do you arrive at is the groundwork which you have to do. So these are some of the parts of it. I hope this helps all of you to understand that there can be a way of coming together and getting aligned with the mission or a problem and trying to solve that. Yeah. In fact, the students today afternoon we have to complete all this. So we have to at least have a problem statement and we have to have the team ready. Again, I would ask students also is that do you have the categories? Let's say you are 45 people. We have like four or five broad categories that you can put yourself into. So this is so beautiful to see that team one we have Vijay. We have Vijay who's from industrial visual design. Then we have somebody from visual arts, Mayuri Nikita from biosciences and research. So look at the diversity in the group. I'm glad that you are able to come down to these decisions because this also is a very real life work where people with different skills are going to come together. You have Shubhi who's from accessory design. It's a beautiful team. Then team two has somebody who's an architect. There is somebody who's the computer science engineer. It's somebody who's a back-end engineer. And there is somebody who's from visual UX. Again, very good team. The more different divers you are, the more better the team is going to be. Ideally, when we form teams, when we do it in let's say Betik or something, we also say try and see if you are having partners from different state, different city, different mother tongue. Be as interdisciplinary as possible. Be as diverse as possible. Maybe that is something which you can add later on columns that where do you all of you come from? What cities do you come? What language mother tongue is there? And that is even much better when you have different kinds of people coming together. Team three also looks great. Architect, textile design, BA, psychology, lifestyle, accessory and finance. Wow, how beautiful. I wish at least I have few of these people in our event. Prof. Chakravarti, I know you're smiling. That is what would be required. We have more or less like engineers, biomedical, very technical. If we had these kind of aesthetics, I think in all the quotations that would really help the teams to be more alive. Really, these are vibrant. These are good teams. Applied arts, interior design in team four, engineer electronics and media. Team five, wow. UI, UX, communication, computer, architect and animator. This is brilliant. I think imagine the kind of, say if you have to have a startup and you have to hire these six people, imagine the kind of work and effort would have gone into doing the interviews, shortlisting their CVs, then finding that kind of people. This would have been more difficult if you had to hire people. Now these are your co-founders. These are people that you are having some kind of vibration either towards the problem or the people itself. So team six, again, great going. All sorts, all tick marks, architect, product design, visual design, gamification, great. And that is really nice. Again, that's a good balance team. The architect lifestyle and product design. I think you're still balanced, but three-legged team is always slightly unstable. So the reason being the moment one of you leaves for some reason is not available, it is no more a team. Two people is slightly difficult to be called as a team itself. So that is why you need at least four kind of people which would help to try and see if we can. What do you mean by making backpack organization easy? What do you mean that Amir, Gaurav or Karan? Basically, we have organized in backpack. So and we are making backpack for different types of categories. What's good and what's not good? Very good way to make. But there is one problem that is not solved, how you should organize your things in a backpack. It is always a problem to finding things inside the bag. So backpack organization is actually the task in hand, not the... So it's basically backpack manufacturing organization. So you are making a backpack company which is going to solve the backpack organization problem. Yes, that's very good. I think when you get your problem statement more endearing, I'm sure a lot of people will join Gaurav. So then team 8, animation type, film making, communication. Even if you analyze all 45, I can see 45 different groups itself. It's not like everybody is just repeating. The combinations are also... It's a families. In fact, our IIT Hyderabad MDS is very, very open and we've got diverse people coming in with experience from industry. And I didn't tell you rupees, they also pay a lot of them don't have scholarship. They just pay their own fees and they're coming to study. So it makes us more responsible to give them the best education and make them entrepreneurs and make them get their money back. Hey, imagine even what you have. This is one batch and you're 45 people. Even if you start these 10 companies, you will be not job seekers or consultants only. You are going to create products which will have industries by themselves. Plus you will have more people who are like you, joining you from other sectors who are not as privileged. Let's say you are at least exposed to this environment. There are other people who wanted to do design but never were aware of a design course. They ended up doing some mechanical engineering somewhere or some other course. So you could become as in a proper window or a door, opening for them to express their ideas and product design aspects also. So please imagine as in even if you start a company, just 10 companies, you could be job creators and these are high value job creators. You're creating high value job. It's not like just run of the mill jobs that you're creating. These are creative people. They are all power houses that you can empower again. Again, team nine, great combination from computer engineer to architect to virtual art to product design to UI UX. And beautiful team number 10 where I can see an aerospace engineer. Would really love to see aerospace engineer working with the experimental design person with apparatus and then communication design within mechanical engineering. This is not a traditional. Let me tell you what is happening is not traditional. This is not conventional. If you guys are able to come down to one particular problem, if you decide, nobody in the world can have such kind of combinations. So please be aware of the power you already have. So all you need to do is come to different kind of a problem statement. Don't worry. This course, if you really see again, it's all about cooking, right? You learn how to cook. Doesn't matter what dishes, what you're going to cook. Eventually after the course, you can cook your own dish. What you're getting is the journey right now. You're just going to learn, okay, how do you prepare for ingredients? How do you prepare a recipe? How do you systematically put it together? What do you do first? How do you measure the temperature of oil? That is what is going to be part of this course. How do you do it balance? Once you do this, you all are free. Go ahead, cook the best dish that you want to do later on. That's not a problem, okay? Even the problem statements, area of interest, what I would recommend is now, do fill the other gaps. Like strengths, don't leave it blank. And then do that effort, extra effort of filling it, because that is going to help you understand your job roles, the hat you'll wear. So you know that that person comes with that strength. He's saying, I have a strength in that thing. Areas of interest, all are good. Even what you started, product for blind or relaxation to VR, learning aids for dyslexic children, game design for kids with motor skills, all good problems. Even the wall painting with augmented reality is good. Only one which I thought was slightly more generic and maybe you already have it. Team six is Internet of Things, which is slightly generic, which Professor Jagarati mentioned, maybe you add more detail. What is the person now? Who is it for slightly try to define the segment or the industry or the area? This is more like a platform technology. It's almost like saying Bluetooth, Bluetooth for what? So that is not a problem. Unless you want to get into Bluetooth kind of alternate technology, that's a different thing. But here Internet of Things, I would say, so just add two, three areas, specific domains and then define the problem. Otherwise, this is good to start with. Team eight has to put a problem statement, put one problem statement. Doesn't matter how bad it is, good it is. Put it out and then you can discuss later on. Put two, three options. Then you can shortlist, that's fine. Divers and then converge back on one problem, that's fine. Even card games, fidgeting toys, good problems to solve with, you will have a good area. Also try to wear the hats that this is entrepreneurship course. Do you want to make a product or do you want to make a company? Both are different things. So those are two different aspects. Investor will say, okay, fine, you're going to eventually need investment. They'll say, you are a good product designer, but this is not a company, there's no business about it. So that also has to be brought in, thought in. So when you're choosing these areas, please be careful that is there significant need? Are there barriers to market? Are there competing advantages that you have? What is the value proposition? Is there a series of products that you can bring in that line? Because customer engagement is also one more thing which will come in picture. Say if you design toys, something for handicapped children, your next design is going to be very difficult if you develop something for consumers because your market channel and distribution channel would have been for one particular segment. So try to be in one segment, one area and then develop products in that segment because that is what investors in the business would like that. I don't want to have acquisition cost of customer twice, advertising to customers, children differently, advertising for cricketers differently. That is going to be two different things. So when you choose that problem, try to choose something which is business specific, not product is good, but business is going to be good about it also, okay? Right. Yeah, I think. Question, can't we do both? Like we are looking at the product also and we are forming a company too. You can, but let's say, I'll give you an example. Fidgeting toy, right? If you say fidgeting toy only, if it's one device, it's going to be difficult. Unless we say fidgeting is an area, stress relieving toys. That's a good segment. Stress relieving toys for people who are work from home. You have a category. You have more than one product that can be brought in. There is more business. You can say, if one doesn't work, I have plan B, plan B, plan C or fidgeting toys for school kids and especially working professionals who are into sales or stock who are more in stress or doctors, fidgeting toys. Different. That is a segment. That is a business. One fidgeting toy is a product. Yes, sir. So sir, for example, we are thinking of different crafts, the local crafts, reviving them, working on them. So maybe it can come into business because we'll be doing craft and design intervention in that, helping the artisans. Yeah, yeah. And we'll also allot you mentors. We'll allot you some nice focus areas. There's this company which some people have started in the sector. So it's a fabulous area again, which is going to come. So typically, when you just do a product, you may have to license it. And that's not a, there is a mode of entrepreneurship in it. That's saying we will do 10 different products in 10 different segments. But our business is about making 10 different products every six months or every year. We are not into the sales and distribution of that. So you're limiting yourself to the risk of product development, which is limited. If you are B2B, somebody else is going to do marketing. Somebody else is going to go distribution. And then you're looking at a licensing model. Your business is licensing itself. Your business is not product making and selling. So you have to identify what segment you are in. Okay, sir. Right then, bye. Have a good evening.