Report

Submitted by:
Sanskriti
170109059
Chinmay

WORLD OF
170109005
Vasu
170109013
Simran

GAMERS
170109008
Jyoti
170109029
Kunal
170109024
Vidushi
170109012
Sakshi
170109032
Riddhi
170109038
 1. How much you have achieved according to your flowchart defined in assignment-2?

IDEA

CHALLENGES POTENTIAL MARKET REQUIREMENTS

WELL ESTABLISHED LACK OF AWARENESS 2.1 BILLION GAMERS FINANCIAL TOOLS

COMPANIES REQUIREMENTS

Well according to the flowchart of our startup idea we have reached the next phase of it. We have Successfully identified the

challenges that present themselves in front of us. One of the biggest challenge is to compete against the established companies like
LOGITECH etc. Other biggest challenge is the lack of awareness for the gaming tools which could be cured by the mass level

advertising.

In the next phase we'll be looking into the potential market and ways to conquer it, such as:-

 Increasing the awareness

 Advertising

 Be more user friendly

 Being a small company, we could look into the customer problem more efficiently.
 2. What is your financial strategy to achieve your goals?

First, we need to know which financial statements are important.

They are:

Balance Sheet- shows the financial conditions of our business at a point in time

Statement of Operations (Profit and Loss Statement)- shows whether we made a profit during a specific period of time

Cash Flow Statement- shows what happened to our cash position during a specific period of time.

Keeping these three crucial documents up to date will drastically reduce risk.

3-way forecasting combines all three to show the most accurate financial projection we can get.

We should have a basic understanding of each of these statements. When compared with statements from prior periods, we can

determine whether something is happening in your business that needs your special attention.

Our accountant can prepare these statements for us from the business data that we supply. There are also a number of computer

software programs that will help us to generate these statements from our input of regular transactions—such as sales, collections,

purchases, payments and payroll.

A SCORE counselor can help us to understand these statements and may be able to direct us to a workshop on this subject. In

addition, most community and business colleges teach courses in financial statement analysis.
 3. What kind of helps you can take from Government agencies and policies?

As the increase in tax on import and export of goods could be a threat while starting our venture. we can apply for different

schemes launched by government of india under Startup india and Make in India initiative. These schemes can be of great help

for a growing startup at a initial stage.

Schemes we can avail for help by government

Name of scheme Headed by industry applicable fiscal incentive

Multiplier Grants Scheme Department IT Services, analytics, Limited to a

(MGS) of Electronics enterprise software, maximum of INR 2 Cr

and technology hardware, per project and the

Information Internet of Things, AI duration of each

Technology project should,

(DeitY) preferably, be less

than two years. For

industry consortiums
 these figures would

be INR 4 Cr and three

years.
Electronic Development Department IT Services, analytics, Companies will get

Fund (EDF) Policy of Electronics enterprise software, risk capital from

and technology hardware, "Daughter Funds" set

Information Internet of Things, AI, up by Electronic

Technology nanotechnology Development Fund

(DeitY) (EDF).
Modified Special Incentive Department Technology hardware, Majorly provides

Package Scheme (M-SIPS) of Electronics Internet of Things, capital subsidy of

and aeronautics/aerospace 20% in SEZ (25% in

Information & defence, non-SEZ) for units

Technology automotive, non- engaged in

(DeitY) renewable energy, electronics

renewable energy, manufacturing.

green technology,and
 nanotechnology

Multiplier Grant Scheme (MGS)

Department of Electronics and Information Technology (DeitY) is implementing Multiplier Grants Scheme (MGS). MGS aims

to encourage collaborative R&D between industry and academics/ R&D institutions for development of products and

packages. Under the scheme, if industry supports R&D for development of products that can be commercialized at institution

level, then government will also provide financial support that is up to twice the amount provided by industry. The proposals

for getting financial support under the scheme are to be submitted jointly by the industry and institutions.

The Scheme is extended upto 31st March 2020 with a total outlay of Rs. 36 Crores and DeitY contribution of Rs. 24 Crore. The

Technology Development Council (TDC) budget head will be used for implementation of this scheme. Based on this pilot

implementation and feedback, the scheme would be reviewed by Working Group.

 The major objectives of the scheme are:

1. Establish, nurture and strengthen the linkages between the Industry and Institutes;

2. To promote industry-oriented R&D at institutes;

3. Encourage and accelerate development of indigenous products and packages; and

4. Bridge the gap between R&D / Proof-of-concept and commercialization /globalization.

Fiscal Incentives: The Government grants for individual industry would be limited to a maximum of INR 2 Cr per project and

the duration of each project should, preferably, be less than two years. For industry consortiums, these figures would be INR

4 Cr and three years.

Time Period: 2-3 years

Electronic Development Fund (EDF) Policy

Headed By: Department of Electronics and Information Technology (DeitY)

 Industry Applicable: IT Services, analytics, enterprise software, technology hardware, Internet of Things, AI, nanotechnology.

Eligible For: Startups pursuing innovation in technology sectors like electronics, IT, and nanoelectronics.

Overview: The agenda was envisaged to develop the Electronics System Design and Manufacturing (ESDM) sector to achieve “Net

Zero Imports” by 2020. The EDF will help attract venture funds, angel funds and seed funds towards R&D and innovation in the

specified areas. It will help create a cell of Daughter funds and Fund Managers who will be seeking good startups (potential winners)

and selecting them based on professional considerations.

Fiscal Incentives: The Electronic Development Fund (EDF) is set up as a “Fund of Funds” to participate in professionally-

managed “Daughter Funds” which, in turn, will provide risk capital to companies developing new technologies. CANBANK

Venture Capital Funds Ltd. (CVCFL) is the Fund Manager for EDF.

Modified Special Incentive Package Scheme (M-SIPS)

Headed By: Department of Electronics and Information Technology (DeitY)

 Industry Applicable: Technology hardware, Internet of Things, aeronautics/aerospace & defence, automotive, non-

renewable energy, renewable energy, green technology and nanotechnology.

Eligible For: Startups in electronic manufacturing

Overview: The scheme aims to support IPR awareness workshops/seminars for sensitising and disseminating awareness

about Intellectual Property Rights among various stakeholders especially in the E&IT sector.

Fiscal Incentives: This startup scheme by Indian government provides a capital subsidy of 20% in SEZ (25% in non-SEZ) for

units engaged in electronics manufacturing. It also provides for reimbursements of CVD/ excise for capital equipment for the

non-SEZ units. For some of the high capital investment projects like the scheme provides for Central Taxes and Duties

reimbursement of Central Taxes and Duties.

4. What are the legal issues need to be considered by your Startup?

Tax issue is the most common legal issues for startups because most of the small businesses facing the legal issues related to

taxes. Business taxes are not just about the income tax filing. Every business entity has to pay different kinds of taxes along

with the income tax.

Business taxes also rely on the business activities. If we are running a business, then we must know that what taxes associated

with which activity.

Depending on our business structure, we are responsible for incurring some of the taxes:

(i) Income tax

(ii)Corporate tax

(iii)Self-employment tax

(iv)Sales tax

(v)Property tax

(vi)Payroll tax

Written Agreements:
Startups often face the problems when they do not have an adequate written agreement. To bloom our business in the world,

we should formalize the agreements with everyone who engages in the business.

It’s important to regulate the relationships inside the company to clarify the rights and obligations of the engaged persons in

the business. It can be a partnership agreement, employment agreement, shareholder agreement.

Make sure we clearly define the ownership, duration, rights and liabilities to avoid an unnecessary headache, time and money

wastage in the long run. Without the proper legal agreement, we will surely face some legal issues in future.

Business licensing:

Don’t get confused the business license with the business registration. Both the terms are different altogether. Startups need to

register with the authority as well as take the license to get the right to operate the business in the particular city.

The type of business license we need to depends on the activity of our business performing.

IPR:
 The imitation is the sincerest form of flattery, whoever said that surely didn’t have a startup. The reality is when you have a

good idea the copycats will come out of the woodwork to steal it.

If our startup is having something new and innovative, to keep the copycats on their toes and for protecting fostering innovation, there

are the ways to protect your startup’s intellectual property.

5. What social impacts will create by your Startup?

Our Startup “WORLD OF GAMERS” revolves around gaming as it’s primary objective is to provide gaming accessories. The

accessories which we will manufacture or deliver to our consumers will ensure gamers having a comfortable experience

while gaming. The accessories will include eye-glasses, hand gloves and many more such viable tools to provide a comforting

experience at gaming. but as we all know there are certain harm by endless gaming. we will suggest all our users to do not

make a gaming life risking endeavour. With certain ill-effects there are many positive effects of gaming if it is taken as a

enjoyable activity or a thrilling challenge. We will try to point out some of the pros and cons of gaming without showing any

kind of biasness towards our startup.

Positive Effects of Video Games

Video games improve basic visual processes

According to Psychology Today, playing video games has been shown to increase players’ ability to distinguish subtle

differences in shades of gray, a phenomenon known as “visual contrast sensitivity.” They may also improve the eyesight of

the visually impaired and help players increase their ability to visually detect the direction of movement.
Video games can enhance executive functioning

“Executive functioning” is the term used for a person’s ability to rapidly and efficiently solve problems. Video games can help

improve multitasking, increase mental flexibility and even reverse the mental decline that occurs as people age.

Video games can improve everyday skills

Playing video games has been found to enhance hand-eye coordination, lengthen attention spans and improve both working

memory and rapid decision-making abilities.

Video games may help ease anxiety and depression

Both anecdotally and scientifically, video games have been shown to reduce symptoms of anxiety and depression. For

example, Scientific American reported that the game Tetris may actually ease the symptoms of post-traumatic stress

disorder. In forums such as Geek and Sundry, authors describe how video games may help those who have social anxiety

disorder learn how to initiate relationships and learn about social cues.
Negative Effects of Video Games:

While video games have been touted for their advantages, evidence also suggests that playing them may be detrimental.

Video games can make people more violent

According to The Telegraph, researchers have found a direct link between violent video games and an increase in aggressive

behavior. This applies particularly to “shoot-em-up” games that simulate firearms.

Video games may decrease players’ ability to concentrate

A study published in Psychology of Popular Media Culture found a correlation between the length of time individuals play

video games and their ability to remain focused. The study also suggested that playing video games may exacerbate the

impulsiveness of individuals who already have this inclination.

Video games can become addictive

A university study found that one in 10 youth gamers is “addicted;” their playing habits cause family, social, school or

psychological damage. Treatment programs combating video game addiction have cropped up across the world, including in

the United States, South Korea and the Netherlands.

Video games may increase depression and anxiety

While it’s true that video games can help combat anxiety and depression, other studies have shown that they might cause or

exacerbate these conditions instead. A study in Cyberpsychology, Behavior and Social Networking, for example, found that

fifth-graders who play video games two or more hours a day are more likely to have symptoms of depression than those who

play less.

While the arguments on both sides of this debate continue, conclusions as to whether video games are ultimately “good” or

“bad” lie with the reader. The truth is most likely somewhere in between, with allowances made for personal circumstances

and preferences.

Digital Culture, Real World

Video games are just a small part of the fascinating and developing world of modern digital culture. For those who want to

increase their understanding of 21st-century technology, the online computer science degree from Concordia University

Texas can provide an educational foundation for success. The program equips students with the skills they need to master

current technology and prepare for future developments in the field.

With all these points taking into consideration we will ensure to aware our consumers of all the ill-effects of gaming and

will continuously promote a healthy way of gaming through our websites/blogs/magazines etc.
6. How you manage your resources?

Managing Resources is yet another one of the main task in developing a starup. Different resources are managed differently.

Financial Resources: Funding

The most important element in starting a business is funding. Even the most basic home business incurs a multitude of

startup costs, including registering a business name, obtaining a business telephone line and printing business cards.

Financial resources can be obtained from a variety of sources, the easiest being from the personal accounts of the company’s

founder. Alternatively, loans and lines of credit may be granted from financial institutions, friends and relatives, private

investors and even the United States government. In addition, many grants are offered from private and public sources to

entrepreneurs of all demographics and personal situations.

Human Resources: Employees

The success of an organization is heavily reliant on the talent and strength of its employees. The hiring of experienced

professionals with track records of excellence within their area of expertise ensures that the mission and goals of the

company will be carried out efficiently and with competence. Strong team members can be recruited using a variety of

methods. Staffing agencies and executive search firms specialize in placing talent of all levels within every industry. An

alternative is to find employees through referrals from individuals whose judgment is trusted.

Educational Resources: Industry Know How

Perhaps the greatest thing an entrepreneur can do when establishing a new business is to gain as much education possible.

By understanding her competition and gaining an in-depth knowledge of her industry, she will be better prepared to make

smarter decisions regarding the direction of her firm. Educational resources can be found through professional trade

associations that are geared toward her industry, her local chamber of commerce as well as the Small Business

Administration.
Physical Resources: Premises and Equipment

Whether a small home business or a retail operation with multiple locations, every organization must have the appropriate

physical resources to survive. This includes a proper work space, working telephone line, adequate information systems and

effective marketing materials. This aspect of business planning can be one of the costliest. As such, it is important for an

entrepreneur to realistically assess his needs before making any purchases.

Emotional Resources: Support Systems

Starting a business can be an extremely stressful endeavor for an entrepreneur to undertake. To maintain her sanity as well

as stay motivated, it is important she have a support team that can give her inspirations and guidance as needed. This team

may be composed of friends and family as well as a mentor or professional group.

7. What are the works done by each group member separately?

Sanskriti:

The idea behind our start up was introduced by her. So the introduction part in our report is written by her. 

She made several researches about the gaming industry of what the current scenario is and what better could be done. 

Sakshi:

She has done the SWOT analysis of our business plan in order to find out what are the strengths of our project, what could be

the weakness, what could be the threats that could become the barrier in our project and at last the opportunities we can have

in future. 

Jyoti:

She did a great job by listing out the operations which are involved in our project.

She also provided different responsibilities to each member of our group like who is the owner, supervisor, 

Publicity officer etc. 

Kunal:

The list of products was given by him. He made a long list of what are the equipments that will be required in order to make our

plan successful. He divided the list into four parts to make it more readable. 

Vasu:

He contributed in making the publicity more powerful. He thought of how the growth can be increased and more product could

be sold in order to make more profit. 

He planned how people's attention could be fetched from all around.

Simran:

She has given our project a vision of which involves encompassing idea with emotional weight. A vision gives project a reason for

contributing. She managed it by providing the vision of releasing new products every year. This will not only produce better ideas

but will help in the growth of organization.

Vidushi:

Legal structure was provided by her. It includes the parties, procurement, contracts, insurance and legislation and regulation. It

helped us by having low financial risk and low investment which further helped us to buy the products required in low price and

sell them in higher price.

Riddhi:

She did splendid job by providing different ideas for marketing. It is beneficial for our project as it provides hike to the gaming

revenue. Project marketing is part of project management is the marketing of the project to the project's stakeholders.

Chinmay:

He provided the opinion of how the product could reach the masses. How we will sell the product directly to the customers. It

will be beneficial to our company as we can have direct feedback from the customers and we can further improve our project for

our overall growth.

8. What problems you are facing during the development of this Startup?
There are number of problems that we are facing during the development of our starup:

1. Competition

New businesses are often the small fish in a very large, shark-filled tank. There are already established starups related to the

same field which are doing extremely well. But we are expanding on the ideas and making them better.We are avoiding

potential pitfalls such as choosing an obscure niche just to avoid competition, starting in a bad location or simply copying

what the competition is doing.

2.Lack of Funding

Money is a paradox for small businesses; you started the business to make money, but you can’t make money unless you

have money to fund the business from the beginning. Financial risk is one of the primary disadvantages that we are facing.

Start-ups need substantial amounts of money to cover costs; we may need to delve into our savings account, tap your friends

and family for personal loans or bite the bullet and take out a large commercial loan from a financial institution.
3.Legitimate Mentoring

Having the business sharpness dependably keeps one a stage in front of others. This is, maybe, significantly more serious

issue than the gathering of financing. Cash can’t concede you vision and shrewdness, however, its essential for different

things.  A 60-hour workweek is what our starup is expecting from us during starup phase.
9. What changes you need to make in your strategy to achieve your goal?

We all know that we all are going thorugh a pandemic right now. Everyone is suffering from it, in one or the other way.

Now, while millions of people are in quarantine or self-isolation they have more time than usual to watch advertisements,

play games and scroll through social media. To put it simply, the general public sees and reads more. And there have been

different reports which says that people are not just looking for news and updates on coronavirus but instead they are

looking for some productive things as well.

Keeping all this in mind there are different strategies that we need to change.

1- We can give free left hand mouse, hand sanitizers and masks for the first 50 people who buys our game.

This way more people will be attracted to our game as marketing will be good and we will also be able to ensure there safety.

2- Now, since we all know that the virus came from china. So we can cut on buying the projects as well as the labour force

from china.

This way there will also be increase in employability in our country.

Due to the lockdown many companies are in loss and many people will loose their jobs
And we will hire them.

This will also increase the GDP of our country which will eventually benefit the economic state of our country.
 10. Justify your progress you made for this startup.

There are different things that we learnt from the startup prjoject.

We learn to multi-task

A perennial manpower crunch in StartUp organizations means you’ll be drowning in work. Apart from handling your own

share of the work you’ll also have to chip in with other tasks and duties. A software developer, for example, could well be asked to

double up as a salesperson pitching the product to potential buyers. And you can’t really complain about the workload because

everyone around is pulling extra weight. Working in a StartUp will teach you some valuable lessons in how to deal with work

pressure and juggle multiple roles and responsibilities.

We developed self-learning skills

StartUps by definition are new entities, so everyone is new to the job. Like you, other employees are also struggling to get a

handle on their professional roles. So don’t expect people to ease you into the job or do any handholding. You’ll have to learn

the ropes yourself figuring out things as you go along. The self-learning skills you develop as a result will prove to be invaluable

over the course of your career.

We learn to take failure in our stride

Nine out of 10 StartUps fail, according to Fortune magazine. When you join a StartUp, you sign up knowing fully well that there’s

more than an even chance of the venture not succeeding. Being part of a team that walks the thin line between success and

failure gives you the chance to observe failure up close and fear it less. Also, learning on the job primarily occurs through a trial-

and-error method. The two together will teach you to accept failure gracefully and emerge stronger, wiser and more resilient

from every fall.

We learn to trust our instincts

Taking calculated risks is a skill every professional needs to learn. Consider what Mark Zuckerberg has to say: “In a world that’s

changing really quickly, the only strategy that is guaranteed to fail is not taking risks.” If you’ve chosen to work in a startup,

you’re not afraid of risk-taking. Working for a period of time in a startup will hone that skill.

As you progress in life, there will be instances where you will have to take decisions without all the information necessary at your

command. Trusting your instincts and making a decision based on calculated risk-taking is a skill that will prove valuable at this

time.

We learn to be adaptable

The constant ups and downs and juggling between roles will teach you the virtues of adaptability. This is a core skill that is

increasingly sought after in today’s workplaces where there’s a growing emphasis on flexibility and agility, both for the company

as well as its workers. The experience of working in a startup, where things are changing every day, will teach you to embrace

and adapt to change rather than resist it.