The third day of Dare eweek was an insightful event with lots of insights into student entrepreneurship and the national level changes required to enhance its status. Prof. MS Rao, faculty of entrepreneurship at SP Jain Institute of Management & Research spoke at the Dare webinar, attended by scores of entrepreneurs and student entrepreneurs.
Prof Rao appreciated and emphasized the growth of first time entrepreneurs which has been fueled by advent of organizations / media / platforms/ initiatives like TiE, DARE, ET- Power of Ideas, NEN, DST etc.
He said that promotion of entrepreneurship in youth starts from the stage when they are studying in schools and colleges, at which stage seeds of entrepreneurship should be sown in them, although he also stressed on the problem of availability of faculty for teaching entrepreneurship in institutes. Mentioning teaching of entrepreneurship as a phenomenon of last decade, he also said that till about 10 years back, not many media platforms were talking about entrepreneurship, startups, mentoring. However, it is not so today and talk in media about all these concepts has changed the mindset of people and today, we can say that we formally teach entrepreneurship as a course in colleges.
He said that there should be formal entrepreneurship centers established to help entrepreneurs with proper ideation, mentoring and other support available for them.
Prof Rao talked about the issues of funding of such plans on part of government and priority of institutes in setting up such facilities for entrepreneurs as it requires bandwidth on part of the management who are engaged in running the daily operations.
The solution to such a situation is Public Private Partnership (PPP). However, this would be successful only if the government declares it a national mission to promote entreprenurship, just like the success was achieved when India had Operation Flood and Green Revolution.\
Professor emphasized the role of corporate sector who can help develop entrepreneurship in India by helping in designing courses on entrepreneurship, setting up centres of entrepreneurship and deputing their executives for helping entrepreneurs for financial and legal assistance in starting up.
He lauded the efforts of NEN which has impacted more than 5 lakh students and faculty in last 6 years, along with the initiative of ET-Power of Ideas which garnered business idea entries from over 14000 aspiring entrepreneurs including many from tier 2 and tier 3 cities. He reiterated that we need to make people job creators rather than job seekers.
Prof Rao also answered a number of questions of the audience like “What are the basic skills required in an entrepreneur” to which he answered – Team spirit, as one person is not master of all things; risk taking ability, and the will to share risks and rewards with the team.
On being asked if MBA is necessary to become an entrepreneur, he answered that although MBA surely teaches some basic skills in finance, and some other basic concepts and technicalities required for starting up, it is not necessary to do an MBA to be an entrepreneur.
Do listen to Faisal Farooqui, founder of MouthShut.com today at 4. Register at www.dare.co.in/eweek.
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- Day 2- 2nd EWeek: Sandeep Parekh speaks on "Enabling A Business Friendly Regulatory Environment For India"
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