IIM Ahmedabad, Kozhikode, Udaipur, SPJIMR push entrepreneurship: Rs.10 lakh initial funding and 2 years Placement Holiday to make ‘start up’ successful

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Amit Agnihotri
Columnist & Author, MBAUniverse.com
Updated on June 21, 2017
IIMs, SPJIMR offer 2 years Placement holiday to budding entrepreneurs who can apply for Rs.10 lakhs as seed funding to launch ‘start-up’
Entrepreneurship at IIMs
IIM Ahmedabad’s Centre for Innovation Incubation and Entrepreneurship (CIIE) helps entrepreneurs turn ideas into viable businesses

There will be no need to search for the jobs and wait for the placement season at IIMs once you have decided to become entrepreneur after your MBA is over instead of becoming a paid executive in some company.

Moving up to make the dream of ‘Start Up’ India a reality, top IIMs have some solid plans to push entrpreneurship at their campus and outside. IIM graduates proposing to come up with entrepreneurship venture can also apply for Rs.10 lakhs as seed funding to launch the entrepeneurship project. Top rated IIMs namely IIM Ahmedabad, IIM Kozhikode, IIM Udaipur among other IIMs have decided to push and encourage entrepreneurship among their students.

The start-up boot camps, incubation cells, mentoring on how to be an entrepreneur, capital availability, practical entrepreneurship learning are some of the key tools adopted by the IIMs to turn their management education towards making more entrepreneurs and future job creators instead of making them managers only. 

IIM Ahmedabad: Offers more Entrepreneurship opportunities
IIM Ahmedabad’s Centre for Innovation Incubation and Entrepreneurship (CIIE) helps entrepreneurs turn ideas into viable businesses. In partnership with mentors, corporates, development agencies, IIMA community and investors, CIIE cultivates a rare breed of entrepreneurs by incubating, accelerating, mentoring and funding innovative start-ups.

IIM Ahmedabad established CIIE in 2002 initially as an academic research centre. In 2007, CIIE’s infrastructure came up at IIM Ahmedabad’s new campus with the goal to be a national centre of excellence in promoting entrepreneurship and bridging gaps in the ecosystem. Over the years, CIIE has undertaken multiple initiatives to catalyze entrepreneurship in India and has spread its wings across the country with active support from faculty, alumni and students of the institute. Operating as a not-for-profit company, CIIE is governed by a board comprising Government, industry and IIM Ahmedabad representatives.

CIIE believes that entrepreneurship has an unmatched ability to bring about disruptive change in India and engages with ventures across technology and impact areas like energy, environment, agriculture, healthcare and affordable technology.

The team gets actively involved with entrepreneurs – helping them on strategic and operational decisions, hiring, fund-raising among others.

German software maker SAP SE’s Indian arm has also joined hands with the Indian Institute of Management Ahmedabad (IIMA) and launched a start-up accelerator programme aimed at mentoring early-stage entrepreneurs from small Indian towns. The SAP Faculty Fellow at IIM Ahmedabad furthers the entrepreneurship vision and mission of fostering social entrepreneurs.

“The entrepreneurial ecosystem is a tremendous generator of employment and innovation and a substantial contributor to GDP growth,” said Ravi Chauhan, Managing Director, SAP India. “Through the Faculty Fellow at IIM-Ahmedabad and the associated incubation cell, SAP aims to create a knowledge base that will significantly help policy makers, administrators and other constituents of the entrepreneurial ecosystem to work in a collaborative way to enable high-growth social enterprises, emerging startups, micro small and medium enterprises and small and medium businesses,” he added.

IIM Kozhikode: ‘LIVE’- encouraging entrepreneurship
LIVE at IIM Kozhikode stands for Laboratory for Innovation, Venturing and Entrepreneurship. It is a business incubator and entrepreneurship development centre to encourage the spirit of entrepreneurship among the IIM K students. LIVE supports Start ups, organizes founder talks, entrepreneurship skill improvement events through the e-cell Startosphere which organizes annual entrepreneur-investor meet and innovation challenge.

LIVE also offers new elective courses on entrepreneurship and business ventures, managing innovations to hone entrepreneurship skills.

Placement Holiday at SPJIMR Mumbai and IIM Kozhikode
Placement Holiday is used as an important tool to improve entrpreneurship by SPJIMR Mumbai and IIM Kozhikode. The B-schools defer the placement for 2 years and assure the students who wish to start their entrepreneurship venture that they can participate in the placement process after 2 years, in case they find their entrepreneurship ventures not so viable.

Both IIM Kozhikode and SPJIMR Mumbai have such Placement holiday options. SPJIMR also offers 2 years stipend to the candidates who have opted for placement holiday. According to Dr Ranjan Banerjee, Dean SPJIMR, the B-school provides assistance on various aspects and stages of entrepreneurship of the students, connects them with alumni and industry and provides mentoring at every stage.

IIM Udaipur: Incubation Centre helps budding entrepreneurs
Companies no longer need the managers only but they need innovators for their own existence. Apart from the Incubation Centre there is a student committee that helps upcoming entrepreneurs.

Instead of summer internship programmes, emphasis is given on summer entrepreneurship programmes. It helps the future entrepreneurs to work on their ideas and improve on them. To make the summer entrepreneurship more attractive, fixed stipend is also offered to the students during this period.

If you are planning to do MBA/PGDM from IIMs or other top B-schools this year, go to the B-school with a clear mind of creating and setting a ‘start-up’ and contributing more to national wealth.

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