role of universitites and colleges in entrep

Role of Universities and Colleges in Promoting Entrepreneurship in India

Entrepreneurship Education in India

• For most part, entrepreneurship education in post independence India has been focused on measures designed to encourage self employment and founding of Small and Medium Enterprises.

• As the economy transitioned from agrarian into one that has significant contribution from other sectors, it was felt that the most pressing requirement was education that would enable need based entrepreneurs to make forays into these emerging sectors.

• Consequently in 1960’s and 70’s entrepreneurship education was delivered in the form of training programmes offered by institutions under the aegis of State and Central Govt. and by Financial institutions receiving support from the Govt.


• Some of the institutions delivering such programmes were:

• Industrial estates and tool rooms.

• Financial Institutions like SBI, IDBI etc

• Development Boards

• Training and Counseling Institutions ( SISI, TCO etc. )


• In the 80’s entrepreneurship education continued to focus primarily on

entrepreneur training aimed at creating self employment ventures.

• The 80’s also saw entrepreneurship education into technology and

management institutions.

• Governmental effort oversaw the founding of an initiative to set up

Science and Technology Parks ( STEPS) and incubation centers at a few

reputed technical institutions.


• With the advent of liberalization in the 90’s the country saw the potential

of entrepreneurship not only as an entry level employment generator, but

also as a means of wealth creation.

• The country as a a growing interest in entrepreneurship fuelled by factors

such as growth potential of economy, changing social and cultural milieu,

global success of several Indian firms, emerging opportunities in different

sectors and lower capital requirement in IT and service sectors.


• Post 90’s the establishment of modes of education were not training based.

Ex:

• Mentoring pools and networking events.

• Entrepreneurship Development Cells ( AICTE, UGC )

• Incubators at various institutions such as :

• Technology Business Incubators

• Engineering Colleges ( IITs, NITs , leading private colleges)

• Management Schools ( ISB, IIMs, leading Private e schools)


• The latest surveys of the trends of entrepreneurship education in India

conducted in 2012 indicate that 44, 500 students are currently enrolled in

entrepreneurship development programmes across the country.

Importance of Entrepreneurship Education

• Education is an important factor in determining entrepreneuring orientation

in individuals.

• It has been reported that entrepreneurs of healthy units on an average had a

higher level of education compared to those who own sick units.

Aspects of Entrepreneurship Education

WHAT ?

•Enhancing entrepreneurial behavior and mindset .

•Building self confidence, self efficacy and leadership.

•Creativity, innovation and ability to think out of the box to solve problems.

•Managing complexity and unpredictability.

•Basic business and financial skills- Business Literacy.

•Opportunity identification.

•Developing negotiation skills, building relationships, networks and social capital


WHO ?

1.Students

2.Teachers Business people and leaders in other sectors.

3.Entrepreneurs

4.Mentors, coaches and advisors

5.Policy makers


HOW ?

Interactive learning centered pedagogies.

Multi disciplinary programs and projects

Case studies, games, simulations, business plans, competitions etc.

Extensive use of visuals,, multimedia etc

Mentoring and coaching.

Interactions with entrepreneurs


Where ?

Formal school systems.

At all levels across all disciplines.

Workplace based training programmes.

Local schools and training institutions

Community centers, NGO’s Govt agencies.

Challenges faced by Entrepreneurship Education in India

Cultural Barriers:

Entrepreneurship can develop only in a society in which cultural norms permit

variability in the choice of paths of life. Our culture consists of a network of

benefits that in many ways run counter to entrepreneurship.

Difficulties towards start ups:

Starting a business in is costly in terms of the time and cost involved in India.


Incomplete Entrepreneurship education:

Many people have the opportunity to change jobs or become entrepreneurs if

they are properly trained. The students in India are not confident with the

traditional education they receive in the university.

Lack of standard framework:

Entrepreneurship education is widely spread , has diverse forms, and has a

large number of stakeholders. But the overall state of affairs is a confused

one, one that lacks broad vision, goals and systemic planning.


Dependence on Govt :

Higher degree of dependence on govt. is another challenge before

entrepreneurship education in India.

Insufficient private sector participation and lack of sustainable business

models in entrepreneurship education act as barriers to its development in

India.

Role of B Schools in Developing Entrepreneurship Education in India

The B schools are the most appropriate nursery of shaping and developing

management graduates for entrepreneurship who posess integrity and

ethical standards, a deep sense of social responsibility, a commitment to

the up- liftment of their communities .

B Schools are in a position to develop case studies in entrepreneurship

practices relevant in the Indian context.


To promote and develop entrepreneurship education some B school are

starting entrepreneurship education in their course structure.

Most of them provide the electives in their course structure by which

students will give their interest in that field and open their enterprise.


Courses in entrepreneurship at B schools are the core activity of

Entrepreneurship education in India.


NMIMS: Narsee Monjee Institute of Management Studies

NMIMS conducts a 2 year full time programme on family business

management.

The motivational aspect taught at NMIMS is important as it creates an

aspiration and improves confidence levels.

This programme has equipped students with skills, knowledge and mindset

to run their own business.


ISB: Indian School of Business

ISB Provides a start in developing outstanding entrepreneurial leaders.

ISB’s programme is designed to prepare managers to respond to challenges

of rapidly changing business environments.

ISB plans to open up Entrepreneurship Centre which will be founded , led

and managed by several leading Silicon Valley Entrepreneurs who are on the

school’s governing board.


NS Raghavan Centre for Entrepreneurial Learning – IIM Bangalore

This institute carries out international collaboration projects.

IIM- Calcutta:

In IIM Calcutta activities on innovation and entrepreneurship are more

practical, driven by students, along with the faculty advisors.

This institute holds on of the biggest plan contest in Asia- i21- ideas to

implementation with Yale University’s Yale Entrepreneurial Society.


Indian Institute of Science

Society for Innovation and Development ( SID) at IISC has achieved a notable

feat in a project called SuTRA ---sustainable transformation of Rural Areas

which uses non edible oils from indigenous neem trees as a substitute for fuel

generation.

Many ideas are focused on solving the problems of rural poverty since “

innovation is getting compassionate too.”


Many institutes like IIM – Ahmedabad, SPJIMR, Mumbai have modified

placement rules to offer “ Placement holidays” where students can try their

hand at setting up their own venture and should things don’t work out, they

can come back to the campus for placements within two years of passing out.

Various Entrepreneurship Programmes Offered by various institutes in India

Suggestions for Developing Entrepreneurship Education in India

Refining Techniques of Entrepreneurship Education:

B schools must include skill building courses in negotiation, leadership, new

product development, creative thinking and exposure to technology

innovation.

They should also focus on creating awareness of entrepreneur career

options: sources of venture capital; idea protection ; ambiguity tolerance.

The B schools must introduce the following learning tools which are useful

in entrepreneurship education: business plans, student business start ups,

consultation with practicing entrepreneurs, computer simulations, interviews

with entrepreneurs etc


Selecting Suitable Candidates:

The B schools should select those with high entrepreneurial potentials

through particularly designed procedures.

Tests, group discussions and interviews may be used in selection of

entrepreneurs.


Selecting the Eligible faculty:

B Schools should carefully select the entrepreneurship education teaching

staff.

A lecturer of entrepreneurship education , first of all must be a successful or

experienced entrepreneur.


Sharing of Experience:

The B Schools must act as a forum to bring scholars from across the country

to share their views related to entrepreneurship that have contemporary

relevance and interest.


Promoting Collaborations:

The B Schools must explore possibilities of striking collaborations with

national and international institutions for joint researches, courses and

exchange programmes for widening the scope and boundaries as also

launching new courses.


Encourage Research:

The B schools should take steps to encourage research in entrepreneurship

through fellowship support and also undertake joint research projects with

Indian and overseas universities and institutions.

These steps will slowly but surely bring a remarkable change in the area of

entrepreneurship education in India which will in turn start, showing positive

impact and significant contribution in the long cherished Indian dream of

being a developed nation.

Summing Up

1. Universities and B schools have a significant role to play in the growth of India

as a nation because they are breeding grounds for entrepreneurs.

2. They have the potential to develop not only winning qualities but also provide an

opportunity to create employment for self and for others.

3. B schools help in increasing knowledge base, by identifying opportunities, and by

pointing out ways to overcome barriers imposed by ones environment.

4. Therefore, Indian Govt should take appropriate measures to promote and develop

entrepreneurial education in India.