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Lack of business acumen can deter upcoming entrepreneurs

Business acumen can be acquired and honed with plenty of available resources

Mudit Thakkar
Founder, Edo Square Training and Research
  • Company

    Edo Square Training and Research

  • Business

    Research Development and Training

  • Founded

    2012

  • Headquartered

    Indore

  • Founders

    Mudit Thakkar

THE COMPANY

Being an entrepreneur was never a childhood dream of Mudit Thakkar, who hails from a non-business background. With more than six years of experience in Robotics, Mudit felt there was a serious need of practical skills in the industry as there was a genuine gap between the technical requirements of companies looking for engineers, and the technical skills being offered by engineering colleges in

Central India. With a vision to bridge this gap, Edo Square was created not only does the company provides practical training in fields like robotics and programming, but also provides a research platform for students to pursue their technical dreams.

THE CHALLENGE

Mudit says that one of the major challenges he faced was convincing his family and society about the decision to start a new venture, since he did not belong to a business oriented family. Being from a technical background, he also felt that his lack of business experience would hinder the growth of the company.

THE SOLUTION

Mudit came across NEN while searching for organizations which help entrepreneurs grow. He attended several seminars and workshops but the workshop on ‘Key Legal Procedures for Startups in India’ by Deepak Khaitan, Chairman, Eastern India Regional Council, Institute of Company Secretaries of India, played an important role for him. Having gained initial customers to sustain his business in Indore, Mudit started building a platform which offers an online space for his robotics students to sell their products. He is planning to expand the platform to allow all Indian Entrepreneurs to showcase and sell their products online, for which, his knowledge in acquiring and using copyrights and intellectual property rights for his clients, has been very helpful. The platform itself is designed by Edo Square’s computer science students. Mudit has launched other initiatives to compliment his business’ vision, one of which includes the Flair Research Club. This club, present in several engineering colleges, organizes free events where experts from a given industry, come and share their experiences and knowledge. Mudit is now looking to acquire funding and investors to scale his venture beyond Indore.

His success has eased his family’s worries about his decision.

Outcomes

  • Customer have grown by 150x
  • Revenues have scaled 19x
20062015
Capital80k17.5 lakhs
Employees18
Customers2300