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If you are a entrepreneur, now you can look for help from premier business schools to make your start-up sustainable.
In view of the mushrooming of start-ups and spurt in entrepreneurial drive, premier management institutions are coming up with innovative offerings on a variety of aspects.
According to the latest NASSCOM Start-up Ecosystem Report, investments in start-ups stood at $5 billion in 2015. Everyday, three to four start-ups are being set up. The approximate number of start-ups in the country is about 6,000 and counting.
While these numbers are impressive, industry and management experts also notice rising concern on sustainability, though authentic data are not available as yet. This is where business schools see a role for themselves.
The Indian School of Business (ISB) is looking at providing mentorship to start-ups on key aspects that make them successful on the lines of the on-going programmes at Stanford, Rajendra Srivastava, Dean, ISB, told BusinessLine .
ISB is working on ‘enterprise study machines’ that take up research and innovation on different areas. “My experience in last 25 years shows that even if you have a good idea, its success depends on a balanced team, among others. We can help those analytics on how to assemble the resources by providing tacit leaning,” he said.
IncubatorsISB is not alone. Other institutions in India and abroad, such as Woxsen School of Business and Singapore Management University (SMU), are also treading on a similar path, offering advanced training modules using incubators.
Woxsen, for instance, offers a preparatory lab and incubator in its Trade Tower incubation centre that gives access to intellectual resources, coaching, mentorship and even access to funding for ideas that qualify a prescribed criteria.
The sharp increase in start-ups, especially in Asian economies, is motivating global schools to chip in with academic help.
“The biggest challenge for a start-up is scaling up the operations. A big area in which universities and business schools can contribute is by innovation, research and hands on teaching,” said Arnoud De Meyer, president, Singapore Management University.
The start-up teams should be trained in marketing, finance and proto-typing of strategies. “I believe, as neutral players, we as academicians have a role to play in the current scenario,” he added.
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