On the 9th of August 2008, we were honoured to have Mr. Shwetank Jain, CEO P2P Power Solutions, alumnus IIT Kharagpur, amongst us answering queries to a jam-packed gathering of 1st year students at V1 auditorium, on the occasion of Fresher’s Induction Program. Shwetank won Conipio 2005 through which he got his start up initially funded. 90% of the young audience said they too would like to have a start-up of their own at some point of time!! These are a few excerpts from the question-answer session with Shwetank on that day.
1.Please tell us something about P2P Power Solution?
A: It basically developed from my b-tech project which I did in 2006.It deals with power handling, improving efficiency of machines & reducing grid pollution.
2.Whom does your industry caters?
A: It caters to basically steel industry, paper mills, printing press any hardware industry and even the medical industry.
3.When did you think of starting a company of your own?
A: I wanted to do something of my own since my 2nd year of my college & was actually looking for a good idea which I got in my third year from Prof. Poddar.
4.How did you manage the initial funding?
A: The initial seed loan was provided by IIT Kharagpur. Now I have some funding from the WB mutual funds but they have only been sanctioned not issued.
5.At what stage is your business sales currently?
A: At this time I have sales order of Rs.60 lakh with around 30 lakh implemented and we aim to take it to 1
crore by the end of this year.
6.What role does the MBA play in business?
A: For doing business you don’t need to do MBA because its mostly theoretical knowledge and that doesn’t help you anyways it’s just your brain which comes for your rescue at places. Even I joined XLRI last year because of persuation from my parents but I had to leave it anyways because I couldn’t do the two things simultaneously.
7.Whats the advantage of opening your own company?
A: You directly become the CEO of your company what else? And once your company starts doing well you become independent .
8.Does one need a great personality to have a start up on his own?
A: As far as I think, it’s not needed that much, It’s your mind which actually works but yes, you should be confident and be presentable to others.
