Mr. Nomaan Abdul Majeed is a global leader and startup consultant. He was appointed as a Head of the Startup & Digital Marketing Sectoral Committee for the Saudi Indian Business Network under the aegis of the Indian Consulate in Jeddah, Saudi Arabia, Nevertheless, Nomaan managed 20+ MNC Brands such as Samsung, Sony, P&G, Nautica, Guess, Yardley of London, Tang, Ritz, Oreo, etc. He was invited as a Guest & Speaker @UN UNEA 4 for his Startup, which is the world’s first PAAS Pilgrimage. Nomaan believes in pursuing adaptation to change and delivers value to projects with his past 2 decades of expertise as Country Head for topnotch companies & Startup Incubators across multiple industries & cultures within India/ Saudi Arabia/USA. 

Lords Institute of Engineering

As the Associate Director of the Technology Business Incubator (TBI) at Lords Institute of Engineering & Technology, could you tell us about the role and purpose of the TBI in fostering entrepreneurship and innovation among students and faculty?

Lords TBI is the Technology Business Incubator of the Lords Institute of Engineering and Technology (Autonomous), Hyderabad, Telangana, India. It is registered as a Section-8 company (non-profit) under the Ministry of Corporate Affairs, Government of India. The 5,000+ sq. ft. corporate facility was formally inaugurated by Shri. Col. B. Venkat, Director – Faculty Development Cell, All India Council for Technical Education (AICTE), Ministry of Education, Government of India. It was established to foster an entrepreneurial ecosystem among the students and faculty of various educational institutions in and around the region. Venture Conceptualization Model is practiced at Lords TBI which includes education and access to knowledge, networking and people connection, financing and access to finance, facility-based services, brand building, business services, and mentoring support with cross-sector experience.

What kinds of support and resources does the TBI provide to aspiring entrepreneurs and startups within the institute?

The first cohort of 10 start-ups was launched by Shri. Saurabh Kumar, CEO of GMR Aerospace Engineering and Air Cargo Ltd., Rajiv Gandhi International Airport (RGIA), Hyderabad, and Shri. Ganesh Rayala, Director – Academic Programs, T-Hub Foundation (Asia’s largest Technology Incubator), Government of Telangana. Presently 13+ startups are incubated at Lords-TBI with mentoring support, networking opportunities, providing access to funding, etc.

How do you identify and select promising startup ideas for incubation, and what criteria do you use to assess their potential for success?

Lords TBI looks up to students with a unique pitch that will ultimately succeed, not just because of the equity stake, but also for investing more capital in the future. While scrutinizing the applicants, we look for those who are promising and exhibit the ability to execute. The first impression is always the best impression. Our students prepare a unique pitch that will distinguish them from other applicants and practice it well so that they deliver the best on stage.

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In your experience, what are some of the common challenges that early-stage startups face, and how does the Lord's TBI assist in overcoming these hurdles?

Most of the incubators provide co-working /physical spaces, shared services, infrastructure assistance, security, and regulatory compliance, helping with borrowing loans, networking with mentors, advisors, and investors, attaining strategic partnerships, and more for students to grow. Students should have clarity and decide what to do & expect during the incubation stage and manage the prerequisites like company registrations, startup certificates, etc. to avail needful support & benefits. Wishful thinking or an Idea without a legally registered entity cannot get sustainable support. 

How does the TBI facilitate connections between startups, mentors, investors, and industry experts?

We have a tie up with T-Hub and Venture Capitalists. Our students undertook the T-Tribe program to get entrepreneurship ability and networking with Industry experts @Telengana State T-Hub Incubator. We are also closely working with Osmania University Business Incubator -OTBI. 

As an Associate Director, what strategies do you employ to promote an entrepreneurial culture within the institute and encourage students and faculty to pursue their innovative ideas?

We always start with the WHY In the Golden Circle to Inculcate entrepreneurial mindsets. We conduct Cohorts with ample training and exposure to Industry relevant solutions. Nevertheless, we have separate Women Entrepreneurship programs whereby we conduct Expo’s and Industrial visits to give on ground learning. Faculty also are trained via FDP programs to promulgate entrepreneurship.

Startups often require funding and investment to scale their operations. How does the TBI assist startups in securing funding and accessing financial support?

We are academic incubators and we have tie-ups with VC’s and Commercial Incubators, both public and private. We also have MSME, Nidhi Prayas, Startup India and Make In India funds support to our incubated startups

In addition to technical skills, what soft skills do you believe are essential for entrepreneurs to succeed in the competitive business landscape?

We undertake various soft skills such as Team Management, Motivation, Leadership Skills, Communication Skills, Personality Development and Sales Development.

What are some future plans and goals for the TBI at Lords Institute of Engineering & Technology? How do you envision the TBI’s role in promoting innovation and entrepreneurship in the coming years?

We have Cohort 3 coming up and Lords Shart Tank. 

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As an Associate Director with significant experience in nurturing startups, what advice would you give to students and faculty members who are considering starting their own ventures or getting involved with the TBI?

Always be a risk taker and lookout beyond the horizon, if you want to become a startup entrepreneur. Cloud is the future and startups are cloud assets which are sustainable in the industrial revolution 5.0, students and faculty should aim to reach out and be the game changers.