JAIPUR: Three minor students — Chetanya Golechha, Mrigank Gujjar and Utsav Jain of Class X in Jaipur have got funding of Rs 3 crore for their start-up 'Infusion Beverages.' The trio participated in the entrepreneurship fest of their school in April last year which has changed their fortunes. These students of Neerja Modi School in Jaipur have covered the journey from formulating the idea, finding an investor and seeing their product/service turn a reality in less than a year.
"Our presentation of the product failed to impress the judges in the fest. We were kicked out in the first round. Though we were out of the competition in the first hour but got the order of delivering 150 flavoured water bottles," said Golechha.
The trio grabbed the opportunity and delivered 150 bottles. Since then, they have not looked back.
The central theme of the start-up is making flavoured water without adding any preservatives. "We carried out intense research on Google to prepare a healthy drink without sugar and soda. But soon we realized that turning an idea into reality is not easy when you are a minor. Procuring the licence, necessary permissions from the food department and approval from FSSAI, are a herculean task. As we were minors our parents sought the permission on our behalf," said Gujjar, who is preparing for his Class X optional board exam.
With the aim of refining their idea, they participated in the entrepreneurship competitions at IIT-Kanpur and IIM-Indore and received wide appreciation. The major boost came after Malviya National Institute of Technology (MNIT) decided to incubate their idea. They also helped them in applying for patent, which is in advanced stage.
By January, they had sold 8,000 bottles of flavoured water—kewra, rose and bel flavours through business to business mode.
As they were looking for a major jump an investor called them to Indore for a meeting in January. "The meeting was successful in the first hour. They decided to fund Rs 3 crore. Under the agreement, we have the responsibility of marketing and research. The plant will be based in Indore," said Jain.
Aren't you missing out on your teenage years? They replied, "Our dreams our big and we have to start early to achieve them. I don't like people who sit idle till they complete their graduation or post-graduation. This early start will keep us ahead of everyone," said Golechha.
Other than school textbooks, they read UG and PG books on management to learn the nuances of market.