Awarded the tags of ‘Institute of National Importance’ and ‘Institute of Excellence’, Entrepreneurship Development Institute of India (EDII), Ahmedabad, a leading management institute focused on management programs on Entrepreneurship, is creating Entrepreneurs and Owner Managers. EDII is grooming highest number of Entrepreneurs as 78% of its alumni are entrepreneurs. Top executives of apex financial institutions are on the Board of Governors of EDII.
While there are more than 3000 MBA programs in India, only a few MBA programs have achieved relevant differentiation. One of such programs is the PGDM Entrepreneurship offered by EDII. Set up in 1983 as an autonomous body, EDII is well known today for its expertise in Entrepreneurship Education. EDII has successfully established a framework on how Entrepreneurship can be learnt in Indian context. The institute offers two important AICTE approved PGDM programmes – PGDM Entrepreneurship and PGDM in Innovation, Entrepreneurship & Venture Development (IEV). In November 2021, EDII set up the Rwanda – India Entrepreneurship Development Centre in Kigali, Rwanda. It was the 6th International ED Centre, before this EDII has also set up Centres in Cambodia, Lao PDR, Myanmar, Vietnam and Uzbekistan to maintain the highest standards of entrepreneurial excellence.
EDII Ahmedabad is led by its dynamic leader Dr Sunil Shukla, Director General of EDII, and also the National Team Leader of Global Entrepreneurship Monitor, the largest study of entrepreneurial dynamics. MBAUniverse.com spoke to Dr Sunil Shukla to learn more about his vision for EDII, and its innovative PGDM programs.
Edited excerpts from the Interview follows:
Q: EDII has achieved many milestones during past few years. Please share the key achievements of EDII during last few years
A: EDII, a National Resource Institute in entrepreneurship training, education, research, Micro Small and Medium Enterprise (MSME) development, innovations and institutional building, has been recognized as the ‘Centre of Excellence’ by the Ministry of Skill Development and Entrepreneurship, Govt. of India. The Institute has also been listed as the ‘Institute of National Importance’ by the Education Department, Government of Gujarat and has been ranked as No. 1 under General (Non-Technical) Category by Atal Ranking of Institutions on Innovation Achievements (ARIIA)-2021, Ministry of Education, Govt. of India. EDII has a strong PG Alumni base. Around 78 % of EDII alumni are into business and are making useful contribution to economic development.
EDII's development model has been broad-based nationally and internationally too, with the setting up of Entrepreneurship Development Centres in Uzbekistan and Rwanda, in addition to the earlier centers in Cambodia, Laos, Myanmar and Vietnam,
Several beneficiaries of EDII programmes have won accolades, including NeerX (an agritech startup), incubated at its Technology Business Incubator, the Centre for Advancing and Launching Enterprises, that has got featured in Forbes India Under 30 in the Agritech category.
Q: EDII is a unique institution like IRMA and IIFT, which are focussed on specific sectors. Please share how it was started and its key landmarks?
A: Entrepreneurship Development Institute of India (EDII) was established in 1983 with the active support of the State Bank of India, IDBI Bank, IFCI Ltd, ICICI Bank and Government of Gujarat and is the first National Resource Institute in Entrepreneurship Training, Research, Education and Institution building. EDII is located in a 23 acres campus, land for which was allocated by the Government of Gujarat.
From conceptualizing and implementing the Entrepreneurship Development Programme Model, EDII went on to pioneer the AICTE approved two-year full-time Post Graduate Programmes in Entrepreneurship and in Innovation, Entrepreneurship and Venture Development. It also floated the 4-year Fellow Programme in Management. Leading the world’s largest study in Entrepreneurship, the ‘Global Entrepreneurship Monitor’ for its India chapter, since 2012, EDII has unveiled significant revelations in the sphere of entrepreneurship.
Lately the Institute has strengthened its collaborative association with Government Departments & Ministries, and corporates for boosting entrepreneurship and start-ups across segments and sectors through innovative models and by intermediating creatively among stakeholders such as; new-age potential entrepreneurs, students, women, minorities and the disadvantaged, differently abled, existing entrepreneurs, policymakers and venture capitalists. Some significant recent awards that the Institute has been honoured with, for creating sustainable livelihood options, include; Best Ethical Practice Award for Project Udaya, by TATA Communications; Saksham Award 2022 by Bayer Foundation for Project UNNATI and Best Practice Presentation Award at the Partnering for Change Event 2022 by HCL Foundation.
Q. As EDII focuses on Entrepreneurship Development, please share how is EDII ranked on Innovation and Entrepreneurship in India?
A: Recognized as the Centre of Excellence, in the skilling ecosystem, by the Ministry of Skill Development & Entrepreneurship, Govt of India, EDII has imparted skills in diverse areas to revivify artisanal and industrial clusters. It was also ranked Number 1 under Atal Ranking of Institutions on Innovation Achievements (ARIIA) - 2021 Ministry of Education, Govt. of India in General (Non-Technical) Category. Under the ARIIA, institutions are ranked on innovation-related globally acceptable indicators. EDII is one of the most preferred institutions when it comes to designing and implementing PAN India Skill and Entrepreneurship Development modules. Annually, it reaches out to more than 1,50,000 beneficiaries and 17,500 MSMEs.
Q: In your leadership, Global Entrepreneurship Monitor (GEM) Survey was conducted. What are the key findings?
A: The Global Entrepreneurship Monitor (GEM) Survey is the largest annual study of entrepreneurial dynamics in the world. The key findings for the 2021-22 report include:
GEM Report 2021-22: Key Revelations
- The report covers the trend of growth in entrepreneurial activities as well as required individual attributes for starting business. The total entrepreneurship activities rate (TEA) in India has increased from 9.3% in 2017–18 to 14.4% in 2021–22. Along with TEA, nascent entrepreneurship and new business ownership both have increased significantly in same period of time. The increase in nascent entrepreneurship is 4.9% in 2017–18 to 7.2% in 2021–22. Similarly, in the case of New Business Ownership it is from 4.4% to 7.1% for the same period of time. On the similar line, the established entrepreneurship rate has also increased from 6.2% to 8.5% from 2017–18 to 2021–22.
- The finding of this report shows that 83.4% of the population perceives that there is a good opportunity to start a business in their area. Out of the 47 economies who participated, India has ranked second for perceived opportunities.
- About 86% of youth perceived that they have sufficient skills and knowledge to start a business. Out of the 47 economies who participated, India has ranked fourth for perceived capability.
- However, about 82% of youth believe that starting a business is easy in India. The data has greatly improved for easiness to start a business in India. Out of the 47 economies who participated, India has ranked fourth on this parameter. It shows the ease of doing business in India.
- The rate of total early-stage entrepreneurship (TEA) in India has also improved from 5.4% in 2020–21 to 14.4% in 2021–22 and India now ranks 18th among 47 economies surveyed. Total early-stage entrepreneurial activity is indicator of growth of the entrepreneurship development in the country.
- Among female adults, TEA has increased significantly as 12.3% of the total female population are engaged in entrepreneurship in India as compared to 16.3% of the male. The male female difference still exists and needs to be worked on to improve female representation in the overall TEA of the country.
- The findings of this report also reveal that in 2021–22, 8.5% of population is engaged in established business.
- Out of the low-income economies, India has been tremendously good as an entrepreneurial ecosystem. India is a leading ecosystem for entrepreneurs as compared to the other low -income economies, across all pillars of framework conditions.
Q. EDII has established centres in many countries. What is the objective of these centres?
A: The Centres primarily work towards inculcating entrepreneurial spirit and competencies amongst indigenous potential and existing entrepreneurs, and equipping them with adequate knowledge and competencies. This is targeted through a series of programmes in entrepreneurship education, training and business advisory services. EDII also undertakes policy advocacy and sensitization and training of the support system officials.
Q. How are the EDII PGDM Programs different from other MBA programs?
A: EDII offers AICTE approved 2-year Post Graduate Diploma in Management- Entrepreneurship (PGDM-E) and Post Graduate Diploma in Management- Innovation, Entrepreneurship & Venture Development (PGDM-IEV). It also offers a four-year full-time Fellow Program in Management (FPM).
The curriculum of the PG Programmes is based on intense research on the needs of the market. The course curriculum undergoes regular revision based on the changing entrepreneurial as well as market dynamics. There is a significant component of handholding and mentoring also, in these application-oriented courses. An MBA course is standardised and inclined towards creating managers whereas an entrepreneurship-oriented course aims at creating owner-managers.
Q: Please share the key USPs of PGDM-E program offered at EDII
A: Post Graduate Diploma in Management- Entrepreneurship (PGDM-E) offers specializations in New Venture Creation, Family Business Management and Social Entrepreneurship. This course, following an outcome-based learning approach, also offers electives which besides imparting knowledge on creating and managing business, enhances knowledge in the functional areas of marketing, finance, international business, HRM, information system and language and communication. At the end of two years students are ready with a bankable project report. EDII extends the necessary follow up support to ensure that as per their identified business opportunity, they have a sound and bankable business plan. Students of Family Business Management are ready with a Five-Year Perspective Growth Plan.
The USPs include:
- EDII Launchpad – This co-working space enables student entrepreneurs to work individually or in a team to gain entrepreneurial experience and understand the market pressures and demands in the early stage of start-ups.
- The students of EDII represent diverse backgrounds and come with varied experiences, so there is a lot of learning over discussions and deliberations within and outside the classroom.
- Milestone based learning – This has been introduced to enable students to achieve stepping stones in their entrepreneurial journey. The students can undertake this while still pursuing their course at EDII. The Institute also provides seed funding to successful milestone bonus point achievers for setting up new ventures.
Q: PGDM IEV at EDII is a recently launched programme. How has been the response to it? Please share its key USPs
A: The course is aimed at developing innovative leadership and business innovation planning. This AICTE approved two years’ full-time programme will provide necessary knowledge and skills for the development of ideas into sustainable start-ups. The response has been phenomenal given the inclination of today’s youths towards tech-based start-ups.
The programme USPs include:
- Course design is in consonance with the start-up revolution in India and globally.
- The course design aims to facilitate management of innovation and venture development from foundation to advanced stages.
- The programme will develop financial skills of entrepreneurs and help them in applying their entrepreneurial skills in real life situations.
- For the first time ever, this is a course that combines academic and business incubation expertise to provide a holistic course layout.
- Includes residency learning module as well as venture establishment phase at the Institute’s technology business incubator ‘Centre for Advancing & Launching Enterprises (CrAdLE)
Q. What is the difference between both the PGDM Programmes offered at EDII? Please share
A: The Post Graduate Diploma in Management – Entrepreneurship has been designed specifically for youths and potential entrepreneurs to encourage critical and lateral thinking, nurture their ambitions, and enable new ventures through an academically rigorous, relevant and highly practical learning experience. The course is offered through six trimesters over two years, where the aim is to ensure that by the end of two years, the participants would have identified their business opportunity and prepared a bankable project report.
The Post Graduate Diploma in Management – Innovation, Entrepreneurship & Venture Development (IEV) fosters technology-based innovation in business and equips students with knowledge and incubation to float Start-ups.
Q. Please share the key highlights of EDII Pedagogic approach?
A: The key pedagogical highlights include:
- Outcome-based learning that fits the market needs and requirements.
- An Advisory Committee that constantly reviews the course, its curriculum and delivery strategies.
- Bankers and members from financial institutions as faculty members to provide guidance on project report preparation and for its evaluation.
- In addition to core courses and elective curriculum, students get the advantage of specialized seminars courses, mentorship, milestone-based learning, exposure to tech-based businesses.
Q: How are the Career Prospects at EDII for the students?
A: 78% alumni of EDII’s PG programme have chosen entrepreneurial career paths. Of these, 54% have joined family businesses, 23% have created new ventures and 1% have set up social enterprises. EDII encourages milestone-based learning wherein students are encouraged to achieve major milestones in New Enterprise Creation, during the 2-year course duration itself. EDII students are in varied fields of textiles, ceramic, ITES, food processing, logistics, chemicals, hospitality and several other emerging sectors.
Q. What is your message to MBA aspirants?
A: Given all the accent on entrepreneurship by the Government and the corporates, this is the best time for floating own business. India has opportunities in plenty; youths must come forward, spot opportunities, equip themselves with the relevant training and venture out with their new enterprise. Developing an entrepreneurial mindset is extremely important. I urge the youths to consider entrepreneurship as a career option and gauge the immense possibilities that are in front of them.”
Read More: EDII Ahmedabad PGDM Admission
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