The budding turks: Unleashing entrepreneurship
If India is serious about its economic growth, it must unleash a new generation of start-up entrepreneurs and innovators with much better access to entrepreneurial education and finance.
ENTREPRENEURSHIP PROGRAMS at educational institutes urgently need to become a lot more innovative and entrepreneurial. What is needed is that young people should be encouraged tofocus more on creating jobs instead of finding one. India needs to tap the incredible potential of Generation Y students for start-up entrepreneurship, creativity and innovation, by rethinking entrepreneurship promotion strategy. Looking at the present start-up scenario one can say that there has never been a young population so willing or able to choose entrepreneurship as first choice of their career.
It is indeed nice to see that more percentage of the youth of , today largely is aspirant entrepreneur as compared to earlier generations, which would choose entrepreneurship as a choice of career only once other options of employment were fully explored and exhausted.
I often get an opportunity to interact with enterprising young people including students and few start-ups during my visits to various cities. I also come across many enterprising young men and women at different forums I am associated with such as TiE, Indian Angel Network, NEN, etc. During brief interactions I have with enterprising youth ,in order to encourage student start-ups, we need to ensure the following:
1. Encourage opening of Entrepreneurship Development Cell in educational institutes be it school, college or a university. EDC’s can be cradle of the young entrepreneurs however Educational Institutes need to be proactive in promoting entrepreneurship. There are e-cells in many of the educational institutes but for the exception of few, majority of them just do a lip service by opening a non-functional e-cell (entrepreneurship development cell –EDC) to attract Government funding. A vibrant and proactive e-cell sure would help develop the brand image of the institute and to some extend lessen the burden of finding jobs for pass-out students.
2. Encourage student-lead entrepreneurial activities in campus such as: discover your entrepreneurial talent, business plan contests, interactions with young celebrity entrepreneurs and fund managers including angel investors.
3. Increase interactivity between academia, student and industry to enable each of the stake holder to benefit from each other.
4. In this knowledge economy, intellectual property is one big asset and therefore the need to create awareness amongst students about IPR, Copyrights and Trademarks.
5. Connect enterprising students with suitable mentors and business incubators.
6. Encourage students and faculty to participate in activities of entrepreneurial networking groups such as TiE, IAN, NEN and others.
7. Recognize and reward student innovations and business ideas.
With India slated to play a major role in the economic scenario of the world,It’s time that our education system develops job creators instead of job seekers.
About The Author : Mr. Raj K Pathak has been passionately promoting entrepreneurship through various media platforms for over two decades and is well known for conceptualizing and producing India’s first Television show titled BUSINESS MANTRA for small business and entrepreneurship. Connect with the columnist: firstname.lastname@example.org