Educating the new generation entrepreneurs: The role of alumni entrepreneurs

Abstract

In the 21st century, employment is mostly created by new and small businesses. It is only recently that B-Schools are waking to the concept of moulding entrepreneurs. To be a successful entrepreneur, one needs to go beyond the classroom walls and get exposure to the practical aspects of any business. Government should streamline the formalities for budding entrepreneurs and support them as future sources of employment opportunities for the nation. Support from financial institutions needs to be extended on fair and equitable terms, without of course giving away any handouts. Business Schools must proactively establish incubation centres, so that student managers can shadow start-ups and thus learn the ropes of starting and running a business. This will help to develop and nurture the entrepreneurship culture through new businesses for meeting the growing requirements of the 21st century. The paper has focussed on a case study of a student manager who utilized the benefits of the incubation centre within the B-School he was studying, and in a span of one and a half year, attained adequate success to motivate him to opt out of placements and continue his entrepreneurial venture as a full-time occupation.