Reading Time: 4 minutes
thoughts of entrepreneurs

Someone once said creativity is no longer about thinking out of the box, but thinking like there is no box. An entrepreneur is believed to have a different line of thinking, not always a linear cause and effect, but a more lateral approach to make things happen. They can visualize the complete picture from ideation to execution and build on it strategically and innovatively. They are risk-takers yet cautious about their every move and are governed by the perennial energy and passion to overcome all roadblocks that come their way. This begs the question – can someone learn to be an entrepreneur or are you born with these traits? We believe the right exposure and grounding plays a crucial role. Let’s take a closer look at the opportunities available in India to hone the entrepreneurial spirit in the younger generation.

1)Schools

A child’s imagination is boundless, that’s why children are way more creative than adults. We spend twelve to fourteen years of our life in school and these formative years are when children are most productive. They are driven by passion, endless energy, and unique ideas; the entrepreneurial trait can best be tapped during this time. In India, the system of education has been revised to accommodate various life skills including a sense of social responsibility within the curriculum. For example, CBSE (Central Board of Secondary Education) emphasizes a holistic approach to learning where schools should provide platforms or opportunities to students to activate unique ideas and execute them in a real situation to create a positive impact on society. There has been a consorted effort by both private and government schools to encourage students to take greater initiative as active learners, team players, and develop leadership acumen.

CBSE also has introduced Entrepreneurship studies as part of grades 11 and 12 curricula. The syllabus focuses on theoretical studies as well as practical experience. The theoretical section includes key concepts like entrepreneurial values and attitude, the relationship between entrepreneurial pursuits and society, barriers to entrepreneurship, understanding market dynamics, etc. The curriculum ensures live interaction between students and industry experts who are entrepreneurs. Students visit various organizations to learn and understand the pulse of every enterprise and later submit a report on their observation. These initiatives to inculcate interest in entrepreneurship hold promise for the younger generation who want to be self-starters.

2)Colleges

At the undergraduate level, students consolidate their aspirations and become more focus driven. Many colleges now have entrepreneurship cells conjointly established by students and staff. Such initiatives provide a great platform for those who want to improvise on their learning to invent new ways or tools that would help students, communities, or people at large. These cells organize events and workshops in collaboration with external firms to provide hands-on entrepreneurial experiences, and also to enlighten participants about the role of entrepreneurs. For example, St. Xaviers College has its Entrepreneurship Development Cell (EDC) that encourages students from all streams to gain mentorship and support for their entrepreneurial ventures. Educational organizations have also introduced specialized degrees in entrepreneurship to foster the development of the entrepreneurial mindset among students including the Tata Institute of Social Sciences that offers an M.A in Social Entrepreneurship and the Mudra Institute of Communication (Ahmedabad) that allows specialization in Communications, Management & Entrepreneurship.

3)IIT/IIM’s

One of the most prestigious institutions of India, IIT’s across India has initiated entrepreneurship cells (E-Cell) on their campuses to promote the entrepreneurial drive in students. IIT’s organize the E-summit which is the annual entrepreneurship fest where they line up events that include motivational talks, workshops on business design models, design thinking to list a few. IIT Bombay holds an international business plan competition called ‘Eureka’ to provide a platform for participants from all over the world to share their business models based on an integration of vision, technology, and collaborative enterprise. They also organize an inter-college business plan competition called ‘Ideaz’ only open to IITians from across India and from any stream or level. In addition to the E-Cell, the IIM’s are offering comprehensive programs and courses on entrepreneurship. A few examples would be – IIM Bangalore (NSRCEL) offers a specialization in Women Entrepreneurs and IIM Indore offers a specialization in Family-owned Businesses & Entrepreneurship. The spirit of entrepreneurship is gradually, but definitively pervading the domain of specialized and professional education.

4)Clubs and organizations

Clubs and associations help to cultivate interests, enhance knowledge, and provide a platform to share and exchange ideas. The Ministry of Micro, Small and Medium Enterprises (MSME) initiated entrepreneurial clubs in 5 select universities in all corners of India to act as forums where ideas can be exchanged and a solid entrepreneurial foundation can be built. The India Entrepreneur’s Club or IndiaEClub was ideated to inform and educate entrepreneurs in the making by sharing stories of success and failure, disseminating information, and latest updates about various entrepreneurial enterprises as well as industries across sectors. It is an organization that also provides a platform to meet Co-founders, mentors as well as to buy resources on a discount for budding entrepreneurs. The Startups Club allows new entrants the opportunity to expand their network, gain resources and support from the community, and interact with members from 20 cities in India. Clubs or organizations also support entrepreneurs by providing avenues for funding. These initiatives nurture the entrepreneurial potential and provide the appropriate tools and resources to our changemakers.

The art of entrepreneurship can be learned through a curriculum that provides experience, exposure, and inculcates the bent of mind to think laterally and holistically. India is a powerhouse of talent as it is home to the world’s second-largest population. With more educational opportunities directed towards shaping entrepreneurial minds, India will be a front runner nation that would occupy the center-stage for successfully harvesting a world-class league of entrepreneurs.

ReachIvy sincerely hopes that this article serves as a critical tool to increase your knowledge base. For study abroad consultation or career counselling with ReachIvy, Submit a Query now! Also, review our resources section to access our free premium content..

This article was also published in Franchise India on 05/04/2017.

Reading Time: 3 minutes
thoughts-of-an-entrepreneur

Someone once said creativity is no longer about thinking out of the box, but thinking like there is no box. An entrepreneur is believed to have a different line of thinking, not always a linear cause and effect, but a more lateral approach to make things happen. They can visualise the complete picture from ideation to execution and build on it strategically and innovatively. They are risk takers yet cautious about their every move and are governed by the perennial energy and passion to overcome all roadblocks that come their way. This begs the question – can someone learn to be an entrepreneur or are you born with these traits? We believe the right exposure and grounding plays a crucial role. Let’s take a closer look at the opportunities available in India to hone the entrepreneurial spirit in the younger generation.

  • Schools: In India, the education system now emphasizes fostering children’s creativity and entrepreneurial spirit. CBSE, for instance, promotes a holistic learning approach, encouraging students to activate unique ideas and make a positive impact on society. Both private and government schools are working to cultivate active learning, teamwork, and leadership skills in students. CBSE has incorporated Entrepreneurship studies into grades 11 and 12, offering both theoretical and practical learning. The curriculum covers essential topics like entrepreneurial values, market dynamics, and societal impact. Students engage directly with industry experts, visiting organizations to gain insights and submit reports on their observations. These initiatives aim to inspire the next generation of self-starters.

 

  • Colleges: At the undergraduate level, colleges are fostering entrepreneurship through student-led initiatives like entrepreneurship cells. These cells organize events and workshops in collaboration with external firms to provide hands-on entrepreneurial experiences. For instance, St. Xavier’s College has its Entrepreneurship Development Cell (EDC), offering mentorship and support for student ventures. Additionally, educational institutions now offer specialized degrees in entrepreneurship, such as an M.A. in Social Entrepreneurship from the Tata Institute of Social Sciences and a specialization in Communications, Management & Entrepreneurship from the Mudra Institute of Communication (Ahmedabad).
  • IIT/IIM’s: IITs have established entrepreneurship cells (E-Cells) to foster entrepreneurial spirit among students. They host events like the annual E-Summit, featuring motivational talks and workshops on business design models. IIT Bombay hosts ‘Eureka,’ an international business plan competition, and ‘Ideaz,’ an inter-college competition exclusive to IITians. Meanwhile, IIMs offer specialized courses such as Women Entrepreneurs at IIM Bangalore (NSRCEL) and Family-owned Businesses & Entrepreneurship at IIM Indore. This indicates a growing emphasis on entrepreneurship in specialized education.
  • Clubs and organisations: MSME launched entrepreneurial clubs in five universities nationwide to foster idea exchange and entrepreneurial skills. India Entrepreneur’s Club (IndiaEClub) educates aspiring entrepreneurs through success and failure stories, industry updates, and networking opportunities. Startups Club facilitates networking, resource access, and funding avenues for entrepreneurs across 20 Indian cities, nurturing their potential and providing essential tools for success.

The art of entrepreneurship can be learned through a curriculum that provides experience, exposure and inculcates the bent of mind to think laterally and holistically. India is a powerhouse of talent as it is home to the world’s second largest population. With more educational opportunities directed towards shaping entrepreneurial minds, India will be a front runner nation that would occupy the centre-stage for successfully harvesting a world-class league of entrepreneurs.

ReachIvy  sincerely hopes that this article serves as a critical tool to increase your knowledge base. For study abroad consultation or career counselling  with ReachIvy, Submit a Query now! Also, review our resources to access our free premium content.

This article was also published in Franchise India on 10/05/2017.