“Be The Star of Entrepreneurship” Mentorship Sessions: Startup Literacy
The sixth mentorship session of “Be The Star of Entrepreneurship” 2022 was conducted on the 19th of April on Startup Literacy. The sixth session was on startup financing. The session was conducted by Alvi Rahaman who was the mentor for this particular session.
Read ahead to know further details on the mentorship session!
“Be The Star of Entrepreneurship” Mentorship Sessions: Startup Literacy
Alvi Rahaman is a Co-founder & the Chief Executive Officer of Mechanic Koi LTD. He is also working as a Chief Strategy Officer of Best Aid. The workshop participants got to immerse themselves in learning about different areas of startups financing.
The session kicked off with general niceties between the mentor and the participants. The session went on to discuss the definition and simplification of what startup literacy is, which included knowledge about a startup, how startups work, and how to start a startup. He proceeded to explain the differences between a general business and a startup.
The criteria for a startup were such as scalability, flexibility, innovation-driven, and lastly, high-risk and high gain. A founder must keep in mind that there are three scaling stages of a startup which are the early stage, the growth stage, and the IPO (Initial Public Offering) stage.
The session continued as he discussed further and presented information on the divisions and sub-divisions of the legal formation of a startup. He went on to explain further about sole proprietorship, partnership, and limited companies. Also the type of existing companies like NGOs, commercial enterprises, and social enterprises.
He further talked about the key factors of a startup, which are, the ability to scale, the ability to sustain, and the ability to create impact. He also elaborated on the investment stages of a startup throughout the scaling stages. After a brief interaction between the participants and the mentor, the session came to an end.
(Written by Saiyara Mahjabin)