The students of BIMTECH’s PGDM-IB Programme were given the opportunity to play Entrepreneurship Simulation: The Start-Up Game hosted by Wharton University of Pennsylvania on HBSP’s portal. This was one-of-a-kind experience for all the students and in spite of the entire thing being carried out online, instead of the usual offline mode that the game is carried out in. All 60 students of the programme were auto-assigned roles comprising of Employees, Investors and Founders with vivid role descriptions and given financial data. All the students were so engrossed in the game, such that the discussions between two parties, business model pitches to investors, negotiation of salary between founder and employee and so on, ran well into the night after the game had started. A certain “chaos” factor was present too, which made the game even more interesting. Many employees were torn between the offers from 2 companies, whereas an investor was preoccupied in deciding where their money should go. Founders, on the other hand, had to coordinate with both employees and investors in which they had to keep their interest in mind lest they might move away to a different company. There was tough and almost real competition between the two or more companies to get hold of the 3 “star-employees” present in the game and the high-paying investors. Following are the accounts of some of the students wherein they narrate their experience of the game:
ELAB Start-Up Game Experience
30 Nov 2020
Arundhati Tayal (Discovery Engine): As a co-founder, I had a plethora of decisions to ponder upon and this was the major challenge too. We, the founders selected the employees first based upon their profile and experience. This payed us back as they turned out to be a helping hand in reaching the investors and making them potential stakeholders of the company. Thus, keeping all the stakeholders happy we decided upon a 49% share of the employees and investors along with maintaining a respectable share for ourselves too.
Nisha Sharma (TheDuckBlind.Com): It was a bit chaotic but it was a unique experience overall. We learned about negotiations and how to sell our company’s stake and bring in investors also how to negotiate with the employees which skills to look into them. It felt real and exciting too.
Jigar Joshi (Summit Medical Ventures): As an Investor, I gained some good experience from this Game. I was approached by few founders to invest in their startup. I learned the analysis process as to what to look in the company as an Investor. Also, the negotiation process was fun and I learned How to negotiate on the business terms.
Anika Agarwal (Beat You): Being an investor and representing my own company was something that I never experienced before. I literally had a real time exposure in this virtual world. Like, I had to negotiate with the founders regarding the share in the company, analyzing the company structure and how I will ripe benefit from their company in future. Also, once I cancelled my contract with one of the founders because they were offering me less share in their company than others. After that they contacted me and negotiated again. So overall it was a wonderful experience and looking forward for such more activities.
Rudrajit Chakrabarty (Employee tsl5): Having been approached by 2 companies, I wanted to explore which company was offering me a better deal and which company had a better future outlook. The company I finally decided to go for had encouraging founders and accommodated my request of giving me a particular number of shares and salary. Being one of the first employees of the company I also took the onus upon myself along with the founders and other employees to pitch our business idea to potential investors. It was a great experience.
Vaishali Chhabra (Employee mbs0): This is a new experience for us. It is testing how logical we are thinking to accommodate everything. It gives us the opportunity to how to pitch in your point and maximize your salary and shares. As a science student, we heard about shares and all but implications and how it works gives us different point of you. So, over all it was a good experience for us.