The Indian Institute of Management-Bangalore (IIMB) celebrated its 45th Foundation Day on Sunday.
As part of the celebrations, three alumni were presented the Distinguished Alumni Award (DAA). They were P.C. Musthafa (PGSEM 2007), CEO and co-founder of iD Fresh Food (India) Pvt. Ltd., S. Vaidyanathan (PGP 1992), co-founder, The Ganga Trust, and M.V. Rajamannar (PGP 1985), chief marketing and communications officer and president, Healthcare Business, Mastercard.
Mr. Musthafa became the youngest recipient of the award. He co-founded iD Fresh Food in 2006 with his cousins and currently employs more than 1,500 youngsters from rural India. Excerpts from an e-mail interview with the young entrepreneur:
From a school dropout to an IIMB graduate and a successful entrepreneur, how has your journey been?
My journey so far has been nothing less than a roller coaster ride. From failing in class 6 to building a ₹1,000-crore brand, it hasn’t been easy. All through my journey I have made mistakes and learnt from them. I have realised that the world’s most complex problems can be solved through the application of common sense.
Why did you want to start a venture in ready-to-cook food?
The main reason I wanted to be an entrepreneur with the help and support of my cousins (the co-founders) was to provide employment opportunities to rural folk. We saw a bunch of talented and smart youngsters in my village who were unemployed and never got a break in life because of formal education. We knew that if we chose the entrepreneurship route and started a company of our own, we could provide employment opportunities to thousands of rural people, directly or indirectly.
The venture into the ready-to-cook category was to give back to society by touching the lives of millions of people on a daily basis. This was possible by providing healthy, nutritious and fresh food every single day.
What role has IIMB played in shaping you as a successful entrepreneur?
My course at IIMB helped me realise my dreams and gave me the courage to start something on my own. iD was formed while I was doing my course at IIMB in 2005. Professor D.V.R. Seshadri has been a mentor and support throughout.
How does it feel to be the youngest recipient of the DAA award?
I am so humbled to be the youngest person to have received it. My dad will be so proud to see my name engraved on the IIMB Wall of Fame.
