The Story of RENT-LE
Never has it been easy to think out of the box and come up with a plan that not only caters to the current market but is also equally reliable as a profit-generating venture for the ones putting themselves in to stay afloat. Rent-Le, maybe you’ve heard a little about, is one such idea turning reality that has in its kitty, not very new an idea, but definitely an eminent thought of change that talks of increased accessibility. Also in store is a bunch of motivated heads who toil hard to make all ends meet and yet work for change.
Started off by 5 third-year students of the institute wiz. Ayush Krishna, Jyoti Singh, Neelesh Mittal, Shashank Awasthi, and Mr.Vighnesh Singh, the company is a definitive attempt to counter the market challenges and promote in here the culture of start-ups and renting.
WB: What is the idea behind Rent-Le and how did it strike?
Every year, when a fresh batch of budding engineers walk into the campus, they face a task first-up to get themselves the books/ study material/ products of utility that will be indispensable during their years at the college. Book Depots nearby offer second-hand books at much higher costs and return a comparatively smaller amount upon buyback. Rent-Le here plays the bridge between the seniors and juniors and provides an effective channel that lets both the owner and the reader benefit. This is brought about by the concept of timed subscriptions charged reasonably and in a relatively transparent manner to ensure authenticity of the product and identity of the buyer.
WB: Why should Start-Ups be necessarily encouraged in a technical establishment such as IET?
Being a technical institution, in fact, one of the best in the state, the very requisite for driving innovation based research and development is to provide an ideal breeding ground for the newer approaches to come up in place of existing scientific/managerial processes. Start-Ups, as also supported by the government are experimental ways to foster fresher ideas and thus develop substantially for an improved lifestyle. The institute thus imperatively needs to support and encourage thoughts and transform them into entities.
WB: How is the administrative support for a start-up in the institute?
Though the administration looks keen to offer support and encourage, lack of a fully functional E-Cell in the college is still a pain. Though underway, once established the ECell shall be able to provide the necessary technical, monetary aids to the plans put up by students, thus building up a healthy start-up culture in the institute. As per one of the important agendas of University’s StartUp Policy, the assistance of varied sorts will be at our disposal to face the market, acquire patents and maintain stocks.
WB: Are the customers positive about your service? What future plans do you foresee?
Within an active working time of 3 weeks, Rent-Le has reached upwards of a hundred students and successfully delivered orders of books, drawing instruments and study material. And the feedback received by the customers speaks great volume of the idea of being an effective one that shall be able to touch many more lives and thus increasing accessibility. In addition to this, first-year students namely Shadan, and Abhyudya have volunteered to work for and with Rent-Le. The company shall further be pitching for seed funding at capitalist events to increase our base in other colleges of the city, and finally move out of Lucknow in the next financial year. Furthermore, we look at Rent-Le as a planned market enterprise in the coming years that’ll definitely bring about change in the way people use their resources for a specified time.
WB: Any suggestions for budding thinkers to develop into entrepreneurs?
The points to remember to remain the same for any upbeat task picked up first hand by an individual or a group. Keep the hustle on. People first laugh at you, then they observe and then they follow. So just make sure the idea holds enough potential to stand the market and once set on it, give it your all. One very good example of such a hustle turning into legacy is iET Whiteboard, of how the team built themselves from scratch and are now a group everyone looks forward to.
Team Rent-Le.
Ayush Krishna Jyoti Singh Neelesh Mittal Shashank Awasthi Vighnesh Singh
Website: www.rent-le.com
Facebook: www.facebook.com/rentlelko
Instagram: www.instagram.com/rent.le