GMG INNOVATION ACADEMY (GMGIA)

Conceptualized on the most auspicious day of चैत्र शुद्ध १, गुढी पाडवा (25 March 2020) and was launched on 16th August 2020 by Hon’ble Devendra ji Fadnavis. Garje Marathi Global Inc. is a registered corporation in the state of California and has applied for ‘Non- Profit’ status. GMG Innovation Academy is a Non-commercial activity aimed to assist, guide and mentor start-ups by Marathi promoters


Inauguration of Garje Marathi Innovation Academy by
Hon’ble Devendra ji Fadnavis 16th August 2020

Devendra_fadnvis
Devendra_fadnvis

What is a Start-up?

An entity that develops a business model based on either product innovation or service innovation and makes it scalable, replicable and self-reliant. Start up is an organization searching for unknown customers and features.

Large companies execute to the established business model and therefore a Start-up is NOT a smaller version of a big company. Start up fails when the founder and team confuse Search with Execute.

Start up is a temporary organization to search for a repeatable and scalable business model.

Every start-up will need to figure out (a) if there is "Desirability" to their product/service idea, (b)If there is "Feasibility" to build such a product/service and (c) If such a product/service can be built with financial "Viability".

The GMG Innovation Academy intends to build a robust eco-system for nurturing innovation and start-ups which will in turn drive sustainable economic growth for the promoters, community and the nation.

Here are the 9 key components of a business model structure

Section A: Desirability

  • 1- Customer Segments

  • 2- Channels to reach the customers

  • 3- Customer relationship

  • 4- Revenue stream

Section Section B: Feasibility

  • 1- Customer Segments

  • 2- Channels to reach the customers

  • 3- Customer relationship

Section C: Financial Viability

  • 8- Cost Structure

  • 9- Value proposition


With the aim of nurturing innovation and start-ups, GMG Innovation Academy will offer guidance in following areas:

  • Business Opportunity Identification,
  • Business Idea Generation,
  • Soft-Skills development
  • Feasibility studies,
  • Start-Up Finance,
  • Launching and Sustaining Start-Ups,
  • Incubation and Acceleration
  • Elevator-Pitch: How to pitch business ideas for funding'
  • Angel Investors and Venture Capital Funds.

Following selected thrust areas as identified by GMG have potential for faster growth:

  • Information & Communication Technology
  • (ICT)/Internet of Things (IOT)
  • Healthcare
  • Manufacturing
  • Clean-Tech
  • Energy
  • Water

Themes:

  • HealthTech and BioTech
  • FinTech and InsurTech
  • EduTech
  • Automotive and Mobility
  • CyberSecurity and Privacy
  • Energy
  • Water

We are glad that some of our Mentors are also
associated with GMG Innovation Academy: