How to promote entrepreneurial awareness and opportunities in students

By Anil Somani

Every year, across India over 4 Lakh students enroll in MBA or PGDM programs. Post completion of their courses, they either look for corporate opportunities or start plan their entrepreneurial journey. While both the routes are filled with challenges, the entrepreneurial journey is anything but easy. The founders have to overcome myriad challenges ranging from idea conceptualization, product-market fit, financing, HR issues, supply chain and logistics issues besides other unforeseen and unpredictable challenges. As per the Economic Survey Report for the FY 2022-2023, the startup landscape in India has witnessed a substantial surge, escalating from 452 in 2016 to an impressive 84,012 in 2022. Notably, these certified enterprises have generated upwards of 900,000 job opportunities, underscoring their significant impact on the employment landscape.

Interactive session with experienced faculty

Conducting one-to-one guest sessions can help students to make connections with successful entrepreneurs and industry experts. They can get insights from the mentors who have launched their startups and offer support to young minds in developing the skills and information that are required to establish and run a business. These types of sessions can provide young entrepreneurs with direction, guidance, and moral support to help them overcome hurdles and difficulties that they can face in the initial phase, giving students exposure to real-world entrepreneurs and helping and inspiring them to begin their entrepreneurial journey.

Establish connections with the corporate community

Connecting with local businesses, trade associations, and entrepreneurs can help students get exposed to commercial realities and build linkages between academia and industry. It can be done through collaborative activities like guest lectures, internships, cooperative projects, and sponsored events. It is a dynamic place where people with different cultures, views, and skills allow them to learn from one another and improve their professional development. This program includes students from various backgrounds, industries, and different phases of their employment. Furthermore, regular interaction with start-up founders, either in-campus or by participating in start-up/entrepreneurial conclaves, competitions satiates the curiosity of the young students.

Industry Visits for Students

A practical understanding of how to start your own business and what real-life problems are expected to come can be gained through frequent factory visits and industrial trips. Industrial visits are essential for students because theoretical knowledge alone is insufficient for a comprehensive understanding of how businesses operate in reality. These visits are usually conducted by the college committees to make students aware of the different sectors of the industry like finance, market, management, and so on, giving exposure to students to the working process of the industry.

Practice team player skills

Growing team collaboration skills among students is crucial as it will help them enhance their entrepreneurship capabilities. This can be done by actively participating in group projects, workshops, role-plays and other collaborative challenges that can simulate real-world entrepreneurial scenarios. This will not only help students develop a strong sense of teamwork but will also help them lay the foundation for future success in the world of business.