AICTE-Sponsored FDP Highlights Market Intelligence, Ecosystem Building, Incubation Exposure, Customer Discovery, and Value Proposition Design

Chandigarh, April 22, 2025: The second day of the Faculty Development Program (FDP) on Innovation and Entrepreneurship, organised by the All India Council for Technical Education (AICTE) at Panjab University, Chandigarh, offered participants an enriching blend of real-world exposure, expert knowledge, and hands-on learning — all aimed at enhancing their ability to nurture entrepreneurial talent within academic environments.

The day began with an insightful workshop by Nitika Mishra Khurana, Chief of Investment and Operations at Chandigarh Angels Network, who underlined the importance of precise market assessment in shaping the success of startups and MSMEs alike. Khurana introduced core industry concepts such as Primary and Secondary Market Research, Total Addressable Market (TAM), Serviceable Addressable Market (SAM), and Serviceable Obtainable Market (SOM), alongside market economics and operational expenditure (OPEX). She enriched the session with practical examples from successful businesses, enabling the participants to apply these concepts meaningfully in their teaching and mentoring roles.

This was followed by a virtual session by Hardev Singh of Nottingham Trent University (NTU), UK, who shared his experience of creating a collaborative and opportunity-rich entrepreneurial culture within his institution. He emphasised the role of internal funding pools in nurturing young entrepreneurial ventures and encouraged universities in India to adopt similar self-sustaining frameworks to promote innovation and attract private investment.

Later, the participants were taken on an hour-long guided tour of the Panjab University Incubation Centre (PUIC). The visit offered firsthand exposure to the infrastructure and support systems that help early-stage startups transition from solitary endeavors to scalable businesses. Participants explored how incubators offer critical resources — from workspace and mentorship to collaboration networks — that empower emerging entrepreneurs at every stage of their journey.

The third session of the day was led by Dr. Ruchi Gautam Pant, Entrepreneurship Consultant and Mentor, who conducted an engaging and interactive talk on Customer Discovery. Dr. Ruchi emphasised the need for entrepreneurs to deeply understand their customers — their emotions, pain points, and decision-making journeys. She underscored that empathy is the foundation of customer acquisition and stressed that products and services must be designed to serve the customer, not the other way around. Through hands-on exercises, she demonstrated practical techniques for understanding customer intent, including the use of well-structured customer surveys.

The day concluded with a second, equally interactive session by Dr. Ruchi, this time focusing on the concept of Value Propositions. Building upon the earlier discussion on customer discovery, Dr. Ruchi explained that once an entrepreneur has fully understood the customer, the next critical step is to craft and deliver a compelling value proposition. Through collaborative exercises, she highlighted the essential role of value propositions in creating strong and lasting impressions on potential customers and explained how well-articulated value propositions can differentiate a business in highly competitive markets.

Day 2 of the FDP wrapped up with participants gaining a well-rounded perspective on market analysis, customer engagement, ecosystem building, and effective communication of value — all indispensable tools for entrepreneurial success. The program continues through the week, offering more expert-led sessions designed to empower faculty to inspire, guide, and nurture future entrepreneurs.