When aspiring, and ambitious management students join hands while studying it gives birth to student led a private limited company called ExCoLearn Pvt.Ltd.
History of the Company
Experiential Learning Corporation (ELC) was formed with the vision of Mr. Tarun Anand, our Chief Evangelist and Managing Director (Fmr. Managing Director of Thomson Reuters, South Asia and Co-Founder of Universal Business School) to create a professional organization built and led by students where they could learn the art and science of management and practice it as well. It was clear to Mr. Anand after having run global multi-billion-dollar businesses in over 136 countries and served on the Board of a $40 billion corporation that management education could only be learnt by doing real business and not sitting in a classroom. He was educated in the top B-schools in the world like Tuck Business School, Michigan Ross School of Business, IE Business School and SP Jain Institute of Management and Research where he learnt the best practices in management education. He was keen to empower UBS students and ignite their minds to germinate ideas enabling them to organize themselves in an organization with goals, purpose, structure, teams, leadership and a profit motive.
The concept of ELC was born from the Earn While You Learn Program initiated as a Scholarship towards deserving and highly talented students. In August 2013, we started by creating Team Leaders (TLs) under the leadership of Ms. Samita Chahal, who were given revenue generating and profit targets and were allocated resources. The first divisions created were Global CEO Series (Samita Chahal, Abhijeet Thorat & Saikiran Mimani), Green thinking (Shreya Prabhu & Kuhu Pathak), Global Trading Room (Vivekraj Shah), Marketing (Sanket Bhawakar, Hitesh Jain & Avril Rodrigues), Symposiums & Conferences (Sankalp Sekhsaria & Ravi Garg), Campus Tour (Prashant Shah & Reshma Raghavan), Library Services (Sudarshan Sahu) and Digital Marketing (Anurag Bisen, Surpreet Singh & Mary Divya). Those that contributed and participated were promoted to Vice Presidents and those that were not performing were fired. Weekly business reviews were conducted based on the Business Scorecard Method.
In 2014, the first set of VPs including Amit Sekhar, Manik Kataria, Shwetal Kadam, Vaneet Chaudhary, Tejpratap Anand, Sakshi Natani, Ankit Boratkar and Jaya Lalwani decided to give the organization a shape, structure and investment. We decided to transform this ‘so called club’ into a Private Limited Company and create a thriving enterprise. Towards this goal, students took on roles of writing the MOA & AOA, and got the company formerly registered with the Ministry of Corporate Affairs. It was decided that ELC would become an external focused organization and deliver revenues whilst benefitting the entire student body. We held several workshops for the VPs to determine the roles ELC would partake and those it would not. A complete charter was created towards the organization structure, how VP’s would get promoted, how
a CEO would be selected and a comprehensive rule book on the workings of the ELC was drafted towards making the dream into a reality of becoming the first on-campus company in India created, built and led by students where learning would be inculcated. Every student recruited into the ELC would need to go through a panel interview and strict criteria was implemented to attract the best talent.
A benefit statement was created for students joining ELC.
- Working live with a Multinational CEO
- Ability to work as part of a company whilst on Campus
- Ability to get promoted to Vice President, CFO, Dy. CEO and CEO positions of a Pvt. Ltd. company whilst on Campus.
- If the student has done excellent work as a member of ELC, he/she will get a fantastic recommendation from a Global CEO on leaving Campus.
- Lifelong ownership of shares in the company
- Being a Shareholder and contributing to the success of the company.
- Ability to increase your stake to 5% of a Pvt. Ltd. Company
- Learn on-the-job managerial, financial, marketing, organizational, leadership skills all very critical for your success in the corporate world.
- Gain capital appreciation and Dividend pay-outs as regular Investors
Several new Divisions were added like Services, Content Management, Entrepreneurship, Consultancy & Research, Food & Beverages, Logistics and Event Management. The first mega event was the creation of Octave Nights, a monthly party for the students which would be a combination of jam sessions, talent performances of song and dance and DJ Nights with food stalls. Subsequently, ELC organized two mega annual events viz. Midnight Sunrise which consistently raised the bar in terms of Event Management skills and generated considerable revenue for the company and enabled the students to learn executional skills. Some non-performing divisions like Library Services and Green Thinking. Divisions like Marketing was collapsed to make way for Public Relations (Palash Jain). At ELC we always experiment with new businesses like Movie Nights (Giriraj Shrivastava), Merchandising (Rohit Chotani), Zalent (Vaneet Chaudhary) which focusses on attracting the best talent to UBS, Daawat Open Air Restaurant (Tarun Bhatt) and Laundry services (Mayur Mittal) which are contributing to the profitability of the firm. The ELC manages several events like the Induction Program, Annual Pentathlon (Vivek Brijwasi), ELC Roadies
(Dinker Vaid), Treasure Hunt, Induction Case Study Competition. Manik Kataria has done an amazing job with Global CEO Series inviting on campus some amazing CEOs from leading companies like HBO India, ABP News, Reliance, Panache, Wockhardt, Stepout.com, Naturals, Hinduja Hospital and initiated Global Celebrity Series by inviting stand-up Comedian Atul Khatri. ELC has created some amazing videos for UBS over the years which have highlighted the talent at UBS and the Digital Marketing team have made significant contributions to all social media platforms like Facebook, Linkedin, Youtube, Instagram, Twitter, Blogspot, Google+, Snapchat, Quora and Educational Platforms like Shiksha.com, HT Campus, Paagalguy.com, Collesearch.com, Careers360 and Just Dial.
On September 7, 2016, Excolearn Pvt. Ltd. came into existence formally with Sakshi Nathani, CFO and Ankit Boratkar leading the way. A bank account was opened with HDFC bank in Karjat and an Auditor was appointed. A very proud moment for the founders as this was now a legal entity with legal standing with the need to publish Audited Balance Sheets. The first Audited Balance Sheet was published with CFO Manish Negi leading the efforts in compliance in April 2017.
It was decided that all the founder members will contribute Rs.500 towards building the capital of ELC with the Managing Director Mr. Tarun Anand and Director Mr. Gurdip Anand contributing Rs.50000/- towards capital. Toward raising capital, the senior management of the company conducted an auction which allowed students to buy a stake in the company with Directorship. A 10% stake was initiated, and Ms. Kavisha Shah won the auction by acquiring a 10% and became a Director contributing Rs.40000/- to the capital of the company. A policy was created that on promotion to TL or VP the student would need to buy shares of the company to ensure that he/she is fully committed to the success of the company and would get the benefits. In January 2017, Kavisha divested 4% stake in the company to Mr. Maninder Singh who joined the Board as a Financial investor.
The Leadership Tree
Our first leader of the ELC was Samita Chahal. However, the official first CEO selections were held in March 2015, where Amit Sekhar became the first CEO of ELC with Vaneet Chaudhary becoming his Deputy CEO till July 2015. As Amit left the company to join Hindustan Unilever Ltd, Vaneet donned the role of CEO with Jaya Lalwani as our first woman Deputy CEO from August 2015 to December 2015. With Vaneet’s
excellent contribution to the company, he was elevated to the Board of Directors as Executive Director in January 2016. Nirbhik Jhangid took over the reins as CEO with Shivam Srivas as his Deputy CEO in January 2016 till April 2016. In May 2016 Derrick Joseph became the CEO with Vivek Brijwasi serving as his Deputy CEO till August 2016, where Vivek was the Acting CEO when Derrick had to depart the campus. In September 2016, Ankush Goel took over the reins with Sachin Chaudhary as the Deputy CEO. In February 2017 Sachin Chaudhary was elevated to CEO with Sahebjot Singh as his Deputy CEO. In view of Sachin’s contributions, he was elevated to the Board of Directors in April 2017.
VISION and MISSION
To create a unique learning organisation led by students to develop their business acumen and get real life business experience whilst on campus, developing leadership, organizational, managerial and business skills towards generating innovative ideas for growth.
1. Ignite young minds to germinate ideas.
2. Enabling students to put their thoughts in an organisation with goals, purpose, structure, teams, leadership and a profit motive.