Enterprise Challenge 2023: Where is Ishan Thakkar now?

The Enterprise Challenge is our annual competition that provides mentoring, training and funding for entrepreneurial students who want to pursue an idea.

student pitching his business idea to an audience

Ishan Thakkar entered the Enterprise Challenge last year with his business partner Khush Singhal and pitched their idea for Trading Waste, a social enterprise changing the way we think about waste. Their idea reached the semi-finals and since then Ishan has taken part in a host of workshops and events at the Generator becoming one of our most engaged members. His experience is an inspiring one and a testament to what students can achieve through our workshops. We caught up with him about his experience and what advice he would give to students entering this year.

Introduce yourself and your business.

I'm Ishan Thakkar, currently pursuing my BA Hons in International Business, and I welcome you to the world of "Trading Waste." Trading Waste is more than just a business; it's a social enterprise aimed at revolutionizing the way we think about waste. With a mission to promote sustainability and environmental conservation, our platform empowers individuals to sell their waste and unwanted items while earning money. Khush Singhal, a dedicated partner in this journey, joins me in bringing this vision to life.

Our commitment is to disrupt the traditional manufacturing process and protect our environment. In the conventional approach, raw materials are sourced directly from nature, depleting our resources. However, with Trading Waste, we are innovating by creating new products using existing processed materials, actively contributing to environmental preservation by repurposing what we already have, rather than discarding it as waste. This eco-conscious approach defines our journey, making a positive impact for a sustainable future.

Tell us about your experience entering the Enterprise Challenge.

Entering the Enterprise Challenge marked the beginning of a thrilling journey. It all started with a simple, yet powerful idea rooted in my fascination with waste management. While I had contemplated innovative solutions in the past, I had never taken the plunge to put them into action. Serendipitously, the moment arrived when I first learned about the Enterprise Challenge and decided to seize the opportunity.

Our journey commenced with nothing more than a concept and a blurry image of what our final project might become. I teamed up with my partner, Khush, and together, we embarked on an entrepreneurial adventure. As the competition unfolded, we underwent a remarkable transformation, evolving from individuals with a mere idea into fully-fledged start-up founders with a finely tuned project.

The Enterprise Challenge equipped us with an extensive entrepreneurial toolkit. We actively participated in a range of workshops covering critical aspects, from the intricacies of the Business Model Canvas to gaining insights into our ideal customer, crafting prototypes and minimum viable products, and mastering the art of social media marketing and branding. Notably, we delved deep into developing a sales strategy, a cornerstone of any business venture. Equally valuable was our mastery of "Pitching with Power and Purpose," a skill that continues to serve us well.

However, the mentorship component proved to be a game-changer. We were fortunate to be under the guidance of John-Paul, a seasoned mentor from FINTRAIL. His expertise illuminated our path, urging us to view our concept from the perspective of running a real company, thereby infusing a pragmatic approach that immensely sharpened our vision.

Networking opportunities during the Challenge were equally enriching. Engaging with other participants allowed us to exchange insights and experiences, broadening our horizons and fostering a sense of shared growth.

portrait of student

What was your experience of starting a business while studying, and what do you think are the benefits?

Developing a start-up idea while studying has been both enriching and challenging. The benefit lies in seamlessly merging academic learning with practical application. I've been able to apply classroom knowledge to solve pressing environmental issues. Additionally, this journey ensures that by the time I complete my education, I'll have a fully formed start-up ready for launch, sparing me the dilemma of choosing between a job and starting from scratch.

This unique experience has also broadened my thinking, encouraged creativity, and honed vital skills like time management and prioritization, which are valuable both academically and professionally. In essence, it's a harmonious blend of learning and practical readiness for the future.

What’s the biggest lesson you learned from starting a business?

As a student initiating my first start-up venture, I've come to appreciate the significance of adaptability. While I may not have encountered multiple business failures, the entrepreneurial journey has revealed the importance of being flexible and open to change. It's akin to entering a world of possibilities and continuously fine-tuning my approach. In this process, I've learned that my initial idea may not be wrong, but the key is to match the adaptability of my idea to the ever-evolving market demands. It's about revolutionizing my concept to align with the real needs and dynamics of the market, a skill that extends beyond business and holds relevance in my academic pursuits and life's endeavours.

What advice would you give to students entering the Enterprise Challenge this year?

In the world of entrepreneurship, ideas are abundant, but making them work is where the real magic happens. As a student, you're at a critical point in your life, holding the keys to your future. This is your chance to make a difference.

First and foremost, dare to think beyond the ordinary. The Enterprise Challenge is your opportunity to let your creative ideas flourish. Don't hesitate to seek guidance from mentors and tap into available resources. Their insights can be incredibly helpful in shaping your business concept.

Stay determined and persistent, even when the path gets tough. Entrepreneurship has its share of challenges, but your unwavering commitment can set you on a path to success.

Remember to prioritize sustainability. Think about the environmental and social impact of your business idea. Creating a sustainable business not only benefits the planet but also appeals to both customers and investors.

What have you been working on after the Enterprise Challenge?

After the Enterprise Challenge, I maintained my momentum by solo-developing my initial idea, "Trading Waste," which later transformed into "Garbonomics." With a fresh perspective and a new partner by my side, we've taken the concept to the next level. Together, we're committed to creating a significant impact in the world of sustainability and waste management.

I'm actively exploring opportunities to collaborate with the Enactus Greenwich Society at my university, a partnership that can amplify our project's reach. Additionally, I plan to involve like-minded students who share our vision, inviting them to join this project and contribute to its growth. The adaptability I learned during the Enterprise Challenge continues to be an asset as we strive for improvement and expansion.

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Faculty of Business

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