Children of today, drivers of tomorrow’s economy, should be better prepared to manage uncertainties of the future, create their own careers aligned to their passion and build entrepreneurial thinking skills while solving real-world problems. Despite having good infrastructure and schools at par with global standards, the education system in India continues to lag behind other countries in terms of learning outcomes and making students future-ready. An entrepreneurial mindset helps the next generation to practice empathy, convert problems into opportunities, and build solutions that can change the world.

Entrepreneurial events can give children a platform to present their business Ideas and nurture a generation of change agents who strive to better their lives and the world around them. Activating entrepreneurial thinking abilities among school children inspires them to be ‘job creators’ instead of ‘job seekers’. Entrepreneurial platforms encourage students to build ideas that have the potential to address sustainable development goals (SDGs). FinancialExpress.com caught up Sushil Mungekar- Founder and CEO of Enpower who is leading India’s Future Tycoon programme and talked to him about skill education and entrepreneurship in India. Excerpts:

Why is there a need for skill-based learning in our education system?

Our education system thrives on a ‘job-centric mindset’ that can be dated back to the colonial era. A job-centric mindset equates success with ‘high-paying jobs in leading companies. This process of preparing for ‘what is good out there’ most often fails to give justice to ‘what is good within me. Fighting for scarce jobs creates artificial pressure on securing better marks and grades in examinations. The obsession with securing better marks and grades pushes students into a rat race. Extra classes at schools & private coaching leave students with no bandwidth to pursue activities that invoke creativity or innovation.

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Skill-based learning, especially entrepreneurship learning can bring about a pivotal shift in the ‘job-centric’ mentality & promote a ‘job-creator’ mentality. Inculcating skill-based learning in our education system will enhance curiosity, promote creativity, independent thinking, acceptance of failure, & an innovative mindset among students. Entrepreneurship learning nurtures self-discovery, builds a sense of independence, nudges students to identify problems, convert them into opportunities & build meaningful solutions. This will not just drive change in the quality of life of our students, it will also transform our nation into an innovation-driven economy.

Why is there a need for standardized entrepreneurship learning in our school curriculum?

Entrepreneurship learning in schools needs to be standardized by developing a structured & age-appropriate syllabus, it should be based on cutting-edge learning content and DIY interventions should be implemented to make learning more experiential. Building the capacity of educators to innovate and think creatively is imminent to deploy this structured curriculum. Unlike tests or exams, innovative monitoring and evaluation systems based on scientific tools should be devised to measure the learning impact.

Unless we standardize entrepreneurship learning in our school curriculum, it will quickly lose relevance. The education boards would have to take keen interest in ensuring that the subject gets its due attention across all schools, among other academic subjects. There is a great opportunity to integrate entrepreneurial skills and mindsets to accelerate learning in other academic subjects. Entrepreneurship learning will thus help to deploy holistic learning for a child.

Why do students need competitive platforms to hone & showcase their design thinking skills?

Firstly, competitions such as IFT helps to build larger awareness about what entrepreneurial mindset is and why it is needed in preparing children for the uncertainties of the future. Secondly, such competitive platforms help to bring all stakeholders together. These also help to expose students to industries and start-up ecosystems which helps them in experiential learning. Thirdly, these platforms nudge students to build solutions to real world problems. That’s truly experiential. It helps them to walk through an entrepreneurial life cycle. Students collaborate with each other while building their ideas. In such cases, what they build is secondary but the process that they go through makes them learn a lot, especially skills such as grit & perseverance, managing failure, collaboration and initiative or proactiveness.

What is the basic idea and inspiration behind IFT? How many schools have participated in IFT and how do they contribute?

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IFT is an experiential platform for students to get through the process of entrepreneurship. Over the last four years, we have tried to connect all relevant stakeholders on a single platform to create a transformational experience for students. Even though at the outset, it appears like a competition and game of winning or losing, the processes are designed to ensure that every single child is ‘touched’ and is able to take away an experience for a lifetime. We always believed that students, at this age, are a powerhouse of ideas. Their ability to think beyond the obvious, connect the dots and create disruptions is very high. Unfortunately, the current academic system & learning pedagogy doesn’t do justice to their creative minds. IFT is helping students voice out their creativity and unleash their true potential. It gives them a chance to think about what kind of future they want to build. Being India’s first-ever entrepreneurship search & mentorship platform, exclusively for young adults, it offers national recognition to students where they can build & showcase ideas that have the potential to change the world.

In the last 3 years, over 596 schools participated in IFT. This year we have over 497 new schools participating in India’s Future Tycoons Season 4! We received 8526 registrations. The students or school do not contribute any fees as registration for IFT is completely free.

How does the mentorship Bootcamp work?

India’s Future Tycoons ‘Virtual’ Bootcamp is one of the most awaited segments of the competition each year! Out of the thousands of applications, IFT Jury handpicks the TOP 400 teams across India. They undergo the 6-hour Bootcamp full of exciting activities, fun programs & hands-on entrepreneurial learning workshops. Design Thinking, Technology & Entrepreneurship experts mentor students to enhance their social venture ideas. Students are exposed to future technology tools, techniques around ideation, opportunity analysis, venture building process, brand communication, resource management & finances. After the Bootcamp students resubmit refined ideas & undergo yet another round of evaluation. Out of these only TOP 24 teams reach the semi-final rounds.

How else does IFT help young entrepreneurs realize their ideas apart from the funding?

IFT’s DIY ideation sessions empower students with disruptive thinking tools to shape their venture ideas. Our Virtual Bootcamp enables TOP 400 teams to build user-centric solutions. Live mentoring by tech experts helps students explore future technologies that can convert their ideas into scalable ventures. We also organize IFT Partner Sessions where students get to interact with leading industry professionals & organizations. The TOP 24 Teams get exclusive mentoring sessions with experts to sharpen their pitch ideas. Industry veterans, and expert entrepreneurs, give valuable insights to students. The TOP 12 Teams get an opportunity to give an Elevator Pitch to a panel of esteemed judges in a reality-show-like finale. Selected winners secure seed funding, cash rewards & an exclusive launch mentorship.

Although winning ‘Seed Fund’ from investors is a huge achievement for a student, IFT offers much more than that! IFT is a platform that encourages young minds to apply innovation & creative thinking to build innovative venture ideas that solve social problems. The skills & abilities acquired here build an entrepreneurship mindset for life!

How many kids started their businesses after participating in IFT?

Again to reiterate, IFT doesn’t claim to coax students to start becoming entrepreneurs in the midst of their academics. It nurtures an ‘entrepreneurial mindset’ that will help them to derive success, happiness and their best potential in any career they choose.

Having said that, we have seen early adopters through our IFT process where students have built business ideas while they continue to excel in their academic performances as well.

Advit Ranawade, from Dhirubhai Ambani International School, with Anisha Jani & Rahil Chadha Arya Vidya Mandir School, was a part of Team Bloom in IFT 2. Together they developed a tap attachment with sensors to reduce water consumption. This device is currently in the patent stage. Season 3 Finalists Diya Sijwali & Parth Puri from Tagore International School, created Sehpaathi, an inclusive learning platform for non-binary genders funded by brands like Godrej, Arihant & The Lalit. This venture is already generating revenue successfully. After making it to the Top 6 Finalists on India’s Future Tycoons Season 3, Divya & Parth went on to win the NFTE’s World Youth Entrepreneurship Challenge with a new idea, ‘Tyron’ – a sustainable startup that converts discarded rubber tyres into fashionable footwear.

Many more promising ideas are taking form in the ongoing season 4 of IFT 4.