Any person, especially youngsters with business ideas and who takes risks is ridiculed by so many people. Having a government job or a desk job in a reputed organization is a matter of pride. Amongst all these silly notions, the birth of an idea is never put into action.
With time and people changing, there are a few who might mentor or finance your revolutionary ideas to make the world an easier place to live in. I will be sharing my story of getting to know about something called a ‘Sandbox’ and how it has been an eye-opener!
What is a Sandbox?
The concept of SandBox is used to state that it was a testing environment that isolates a new testing code from the other codes for experimenting purposes. The same way the idea of SandBox in an entrepreneurial perspective means – to isolate a potential idea and make it work to launch it into the real world.
The whole purpose of SandBoxing is to;
- Limit the threat of ultimate rejection of the project.
- To find potential in ideas that are worthwhile to launch into the business world.
- And implementing it in the market through proper funding.
How can SandBox help with the next generation of entrepreneurs?
Like nurturing a child to develop into a fully capable human being, SandBox helps budding entrepreneurs to become fully marketable business person. Involving young minds into entrepreneurship by giving them hard and soft skills that are required as an entrepreneur is what sandbox strives to achieve.
People from various walks of life are given a holistic approach to dealing with real-time issues of innovating a business solution. Does SandBox cover only tech-based innovations? The answer would be a hard no. Any idea that comes with a solution to the stated problem could be of value.
What are the benefits of having a SandBox based initiative?
A SandBox could be the place that could connect ideas and the resources to implement the solution to the real-time problem.
Connecting resources and ideas:
All entrepreneurs who have extraordinary ideas will not have access to unbound resources and mentorship programs to guide them into turning their ideas into a business model. SandBox could offer these perks to the entrepreneur.
There are going to be a lot of bureaucratic issues when it comes to working under a testing environment, all legal issues (intellectual property majorly) and getting a thumbs up from the financial company could be followed by the SandBox. All the entrepreneurs have to do is concentrate on their innovation.
If the innovation is shown a green light by the concerned authorities, then the project taking off is in the hands of the investors (Venture Capitalists, Angel Investors, Banks, and financial institutions, etc). And SandBox could be a recognized authenticator that could vouch for innovation.
Collaboration and talent retainment:
Some entrepreneurs would be looking for an efficient team to back them up. The SandBox could be used to bridge the gap for them to find new connections and talented teams amongst the crowd.
A safety net:
We discussed legal issues, financial issues, and stuff. But as an entrepreneur, though they are bound to take certain risks, it is a relief to have a safety net like a SandBox that could give them hands-on experience on running an institution for entrepreneurship.
A SandBox story that could inspire millions:
Deshpande SandBox startup:
An initiative was taken by an IIT-Madras graduate along with his wife. Deshpande SandBox Startup is a Non-profit organization and live-in laboratory for entrepreneurs founded in 2008 situated in Hubli, Bangalore. There are 5 programs in which they mold the business ideas;
Makers Lab – A workspace for practical exposure to technology, experimentation, fabrication, and prototyping.
Yuva Entrepreneurship Program – A place to nurture sprouting ideas.
EDGE Program – Induce skills on customer insights and interaction.
Incubation Support – A strategic gateway to enrich urban and semi-urban areas.
ESDM Cluster -Nurturing young electronic startups.
They also have Kakatiya Sandbox – a Hub for Social Innovation. Kakatiya Sandbox has various departments, engaging people to improve the social aspects of the country by their innovations.
Vaish Center for Additive Manufacturing (VACM) – An initiative taken to educate the new age manufacturing skills to the next generation innovators.
Leaders Acceleration Development Program (LEAD) – This program builds entrepreneurial aptitude and dedicates time to inculcate problem-solving skills for university students.
Navodyami – This portion of the initiative aims to help the micro-entrepreneurs and give them a livelihood. It was started in 2011 and has so far uplifted 100+ micro-entrepreneurs.
TiE Nizamabad – A satellite program under the wing of Deshpande Organization to expose the community in Hyderabad to modern technology and ideating entrepreneurial thoughts.
Bollant Projects Private Limited – Mr.Bolla the initiator of this program has helped 80 million challenged people to overcome employment barriers and will continue to do so.
There are millions of people with ideas to change the world and the intention to be different from others. All they’ll need is a place to educate them, to monetize their ideas, a mentorship program and possibly funding to make their dreams come true.
SandBoxing infrastructure could be the next university or college to give an overall practically innovative output.