The entrepreneur development centre planned by XLRI some time ago got an impetus recently when the Jharkhand government joined hands with the B-School in getting the facility ready at an early date so that the first session can begin in 2008-09.
The director general of the United Nations Industrial Development Organisation (Unido), Dr Kandeh Yumkella, laid the foundation stone for the centre, the first-of-its kind by any B-School in the country, in February this year.
The state government has decided to partner the project and provide a one-time grant of Rs 2 crore to the B-School. While Rs 1.70 crore will be earmarked towards construction of the centre, the balance will be spent towards running expenses for the first year.
Altogether, the cost of construction is expected to be around Rs 5 crore, which means XLRI will be shouldering the majority of expenses both in constructing and running the centre later.
“We expect to recover the running expenses from others and not from the Jharkhand government,” said XLRI director Father N Casamir Raj.
To start with, the centre will commence the one-year course with 50 students. While the state government will send 25 adivasi candidates, the rest (the B-School’s quota) will be selected from all over the country. The minimum educational qualification for joining the course is graduation.
The annual intake, at a later stage, will go up to 60.
The main concern for XLRI will, however, be the standard and quality of students, especially those sent by the Jharkhand government.
“There should be some quality, we can’t take anybody who applies; that’s the main problem,” said the XLRI director.
Apart from the main course, the centre will also run several other short-term entrepreneur development courses.
On completion of the course, the centre will help students set up projects conceived by them. In some cases, XLRI may even finance those projects. Funds will be provided from “the trust our alumni has created”, said Father Raj.
The XLRI may also recommend some good projects to institutions like Sidbi, Nabard, etc, which sometimes help such entrepreneurs.
