Please prepare case study solution summary for case study CampusHash$$ : Evolving business model of entrepreneurial venture

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It was late evening on January $30,2016,$ and Sanket Saurav and Rohit Tirkey, co$-$founders of the Indian start$-$up CampusHash Technologies LLP $($CampusHash$)$ were returning home from a two$-$day technology trainingworkshopinBengaluru.CampusHashfocusedonconductingsoftware$-$languagetrainingprograms in engineering colleges in India. Saurav and Tirkey they navigated the Bengaluru traffic. In the last few months, CampusHash had gained some traction and conductedover$75$trainingprograms.However,theco$-$founderswerenotsatisfiedwiththespeedatwhich their company was growing. As Saurav recalled, they had not been very ambitious when they started the company. But now that theywere seeingsome success, theywanted more.The current modelwas limited in its scalability, so the pair needed to rethink their strategy to meet their ambitious growth targets. They had hoped that CampusHash would by now have scaled up so that its profits would be at least twice the potentialsalariesthepartnershadgivenup.Theteamwas hopingtoraisefundsfromanangelinvestorand were scheduled to pitch their business plan to a potential investor in a couple of weeks. They needed to ensure that their business model and projections were attractive enough to secure this funding.

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Saurav and Tirkey met in $2010$ while pursuing bcomputer science engineering at the prestigious National Institute of Technology $($NIT$)$ in Jamshedpur, India. Sharing a common passion for entrepreneurship,theystartedawebdesignfirmcalleddesignfromtheheartin$2010,$withtheintentofearning someeasypocketmoney.Theybothhadaflairforwebdesignandreceivedquiteafewprojectsinthisfield. However,theysoongottiredofdoingthesametypeofworkrepeatedlyandclosedtheventurein$2012.$

By$2012,$bothSauravandTirkeyhadbecomeexcellentsoftwareprogrammers,andtheyoftenhelpedtheir friendsandeventheirseniorsatcollegewithprogrammingassignments.Theyalsoenjoyedteachingothers howtowritesoftwarecode,sotheydecidedtobecometrainersinthisfield.InDecember$2012,$duringtheir thirdyearatcollege,theystartedCampusHash,aventurefocusedonsoftwareprogramminglanguagetraining.

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SauravandTirkeyrealizedthatthecomputerscienceengineeringcoursecurriculumofferedatNITwasnot up to date. While the world of software engineering had moved on to areas such as social media, mobile applications, and big$-$was still teaching students rudimentary software$-$engineering related concepts and did not expose them to cutting$-$edge technologies. Students therefore found it difficult to present themselves as industry ready during job interviews for software programming roles in information technology $($IT$)$ companies. To be ready for jobs in the IT industry, engineeringstudentsneededtobeequippedwithbothconceptualknowledgeandhands$-$onskillsinthe

SauravandTirkeystartedbythemselvesmasteringtheprogramminglanguagesandtechnologiesthatwere alignedwiththelatesttrendsintheITindustry.Thentheystartedofferinginformalsessionsonthesetopics to their peers at college. They quickly realized that if students of premier engineering institutes like theirs were facing these challenges, the situation was likely to be much worse among students at lower$-$ranked engineering colleges. Thus, with the intention of equipping fellow engineering students with skills in the latest technologies, Saurav and Tirkey started conducting two$-$day software$-$training programs at various engineering colleges in and around Jamshedpur.

In the early days of their venture, Saurav and Tirkey spent a lot of time refining the content and structure oftheirtrainingprograms.Theydesignedahighlyinteractive,hands$-$onworkshopwhereparticipantswere exposedtothelatestconceptsinITandgivenopportunitiestosolveproblemsandpracticewritingworking software code. The two tried to align the workshops with the needs of the IT industry, keeping campus$-$ recruitment interviews in mind. They also offered participants the opportunity to complete take$-$home assignments, which they subsequently evaluated. After each workshop, Saurav and Tirkey encouraged participants to contact them via email to resolve any questions.

Noticing that many IT companies were engaged in projects in social media, website development, and mobile applications development, Saurav and Tirkey conceptualized two training programs: Web DevelopmentUsingGoogleAppEngine,$1$andPython$2$forBeginners.Duringthisphase,CampusHashwas getting an average of about $20$ participants per program and charging each participant $1,0003$ to attend a two$-$dayprogram.Theirworkshopswerelessexpensivethanthoseoftheircompetitors,whowerecharging about $1,5002,000$ per participant for similar training programs. Net of all costs, CampusHash was managing a $70$ per cent profit margin from these programs.

Withinafewmonths,CampusHashbeganreceivingalargenumberofinvitationsfromcollegesthatwanted Saurav and Tirkey to conduct training programs on their campuses. T