Bhubaneswar, January 20, 2010 :The Krupajal Business School (KBS) at Bhubaneswar is rapidly developing entrepreneurship skills in its students. It is bringing about various innovations in the academic system which leads to enhancing the entrepreneurship capabilities of a student. An innovation of this nature was held on January 16, 2010 within the institute premises in the form of a Product Launch Seminar. There were twenty student teams of the PGDM batch of KBS that participated in this Seminar. The format of this innovative student involvement programme was a mix of role-playing and simulated environment concepts in which the student groups formed “Virtual Companies” and took ownership of those companies as “Dummy CEOs” and then launched their “Virtual Products” before an august gathering of intellectuals, academicians, faculty and students. Each “Virtual Company” team led by their “Dummy CEO” student was given ten minutes to launch their ‘Virtual Products” before the audience. This initiative helped the students to understand the dynamics of a business model, the company’s vision and mission in launching a product and the strategies and solutions that an entrepreneur considers while looking forward to achieving a successful product launch and sales promotion. Inaugurating the seminar after lighting the lamp, the Director of KBS, Prof.Ramesh Chandra Mohapatra said, “KBS is committed to building the entrepreneurship potential of a student. We do not want the students to be confined to text books but would also like them to explore new areas of entrepreneurship and this seminar is another format by which we promote a student’s potential for entrepreneurship thinking and positive strategizing that is the hallmark of a successful entrepreneur.” Some of the “Virtual Products” launched in this simulated role-playing format by the students were protein powder, motorcycle, car, mineral water, wrist watch, ice-cream, shampoo, garments, camera, mobile phones, etc. Speaking to the press, Ms.Dharitree Panda, student of KBS and participating in this seminar said, “Such innovations help students to explore the nascent entrepreneur in them and it provides an almost real-life perspective to us about what goes on in the mind of an entrepreneur and how he/she deals with various strategies to successfully launch a product in the market. We are fortunate that KBS provides such wonderful opportunities to students and we are benefitting immensely with such initiatives.”