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Entrepreneurship Quiz

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Questions and Answers

What are the purposes for which a startup requires funding?

Raw materials and equipment, licenses and certifications, and marketing and sales

Prototype creation, product development, and team building (correct)

Income projection and fixed costs plus capital and investments

Legal and consulting services, office space and admin expenses, and working capital

Who is the author of the content related to Tinkering and Mentoring at IIT Roorkee?

Dr. Department of Electrical Engineering

Dr. Indian Institute of Technology

Dr. Apurv Kumar Yadav (correct)

Dr. Electrical Engg.

What is important for the founder to be aware of when raising funds?

For what they are raising funds for (correct)

Fixed costs plus capital and investments

Projected income

The difference between entrepreneur and businessmen

What is the difference highlighted in the content between entrepreneur and businessmen?

<p>Not mentioned in the text</p> Signup and view all the answers

What are included in the outlay for a startup according to the text?

<p>Fixed costs plus capital and investments</p> Signup and view all the answers

Study Notes

Startup Funding Purposes

Startups primarily seek funding to cover operational costs, product development, and marketing efforts.
Funding allows for scaling operations, securing talent, and navigating the initial phases of business growth.

Tinkering and Mentoring Author

The author of the provided text regarding Tinkering and Mentoring at IIT Roorkee is not mentioned.

Founder Awareness in Fundraising

Understanding the investor's expectations and investment thesis is crucial for founders.
Founders should be transparent about their business model, financials, and future plans.

Entrepreneur vs. Businessman

Entrepreneurs are driven by innovation and problem-solving, while businessmen focus on profit generation and existing markets.
The text suggests entrepreneurs see challenges as opportunities, while businessmen seek to minimize risk.

Startup Outlay Components

The text outlines that a Startup's outlay typically includes various components.
These components encompass expenses related to team building, product development, marketing, and operational costs.

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Description

Test your knowledge of mentoring funding opportunities, business plans, and case studies with this quiz led by Dr. Apurv Kumar Yadav, Assistant Professor at the Indian Institute of Technology, Roorkee. Learn about the distinctions between entrepreneurs and businessmen and gain insights into startup dynamics.