I just returned from IIM-A after talking to students on ” Is a Startup right for them” and “Investors & Business Plans”. Beerud , CTO of Webaroo and earlier founder of e-Lance was also there and spoke on ” Start up: What it takes”.
IIM – A is thinking of having a business plan competition with a difference where few shortlisted firms would present to a panel of seed stage investors and try and close a seed round. Sounds like a good idea. Let them know what you think. The organizers of the “Entre” club read venturewoods.
Reflecting as I returned ( lot of time to reflect as my flight was delayed) I felt that the time may be right for IIM – A and other management institutes to do a one year entrepreneurship course which gives a certification like an MBA. A large component would be getting your business of the ground. Comments ?
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Rehan,
My thought is this should be a separate program where people who are admitted have a strong desire to become entrepreneurs or join start ups.
Having courses on entrepreneurship as electives in the MBA program is in my opinion not as good as a separate program.
Admission may also depend more on your potential for entrepreneurship rather than just your CAT score.
It should probably be an expensive program to make it an activity than contributes to the institutes revenue and encourages world class sesign. The students or fellows would only join if they see value in paying the expensive fee.
The VC industry or donors such as the Wadhwani foundation may want to endow these programs but I am not so sure that will happen.
There is a constant hubub of complaints by both Startup Founders and VC players about lack of funding and lack of fundable ventures. A fellowship program whose sole purpose is to get a startup off ground will fulfill this gap very well.
If this fellowship program clicks, it can be replicated at top engineering schools: And that will create a lot of tech action.
Work experience is a must for a student to metmorphose into an entrepreneur.
College life and work environment are totally different (though silicon valley tech startups would like us to believe otherwise).
Only issue at IIM and other management institutes is that large body of students have no work ex. Disadvantaging them from being good entrepreneurs. They need to change that fundamental 1st.
At ISB it makes sense and I believe they have such a course.
IIM-B has started such course sometime back. Details are yet not known, but sometime back I read in a advertisement that such course is available for entrepreneurs.
I agree, its high time whereby our Business Schools have to additionally take on the responsibility of nurturning entrepreneurship along with graduating top class managers.
Abhay