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Can you think of starting a venture simultaneously while pursuing a management course?
Woxsen School of Business (WSB), an upcoming B-school, will offer a new model, providing equity funding to emerging entrepreneurs-cum-students with a corpus fund of Rs 500 crore.
In addition to the corpus fund, WSB is investing Rs 100 crore in setting up a 200-acre campus near Sadasivpet in Medak district of Andhra Pradesh.
The school is being promoted by Praveen Pula, a UK-based Indian businessman. The WSB will have a ‘trade tower’, a separate block for purpose of extending financial and other support for students to set up ventures.
“As of now, there is only business incubation model or providing seed money to start a venture after completion of a management course. But we will take a business proposal/concept from the students at the admission time itself,’’ R. Narasimhan, Dean, WSB, told Business Line .
The new business school, which was formally launched here on Wednesday, will commence programmes from February 2014. It will offer both one year and two year post-graduate programmes in management.
“The objective is creating entrepreneurs. The proposals will be evaluated and stakes of the entrepreneurs and WSB would be decided mutually. We will consider exit from the venture in about five years after helping the student-entrepreneur in making the venture success,” he said.
Initially, Woxsen willoffer admission to 120 students with a fee of Rs 12.5 lakh. “At present, the demand for premium management courses is around 15,000 while existing schools have about 3,000 seats. We want to position ourselves in the segment,’’ the dean said.
Bala V. Balachandran, Founder and Dean, Great Lakes Institute of Management, Chennai and Distinguished Professor (Emeritus in Service) of Accounting and Information Management, North Western University, US, who was involved in setting of Indian School of Business also vouched for the viability of the new model of combining business with education.
“India now needs job-creators and not job-seekers; WSB’s model will be of help here,” he said, speaking at the launch function.
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