The oldest question about entrepreneurship is more relevant today in the Indian start-up ecosystem than ever before – Can relevant education and knowledge CREATE an entrepreneur or are they a rare species?
India, the home of some of the most advanced education systems in the world, has been a rich source of knowledge workers for more than two decades now, especially in the information technology space. In comparison, innovation and entrepreneurship had failed to keep up in terms of speed and development during that time. It had seemed that the Indian brain drain story was as true as it was widespread.
That has changed over the past decade, however. The long overdue start-up environment gathered traction in the late 2000s and has grown exponentially since then, year on year.
With increased momentum, the start-up environment in India has seen an explosion in the last three years, in particular. As of this article, India ranks third globally with more than 4,200 registered start-ups led by visionaries across sectors like e-commerce, healthcare, engineering and even foods and beverages.
Increased investment from large and diverse channels of funding, such as venture capitalists, private equity firms and even government grants and subsidies have grown at a rate of more than 130% compared to last year. Consider this: The total number of global investors have more than doubled in 2015 compared to 2014, and currently stands at slightly more than 490 active investors.
With such rapid strides, however, comes a significant question- are entrepreneurs born or made? Entrepreneurs of today need more than wit and business acumen. Michelle Rogan and Florian Schloderer of the INSEAD School of Business note that “a student can be taught how to negotiate with lawyers, pitch to investors and create a business plan, but can you teach someone to think like an entrepreneur?”
The answer seems to be YES. Although some inherent traits that involve social dynamics play a key role in the success of an entrepreneur, knowledge about the required traits and thorough training have proven to be equally effective in developing and sharpening the knowledge and skills that we expect from entrepreneurs. This has been proven time and again by entrepreneurs who have rolled out successful ventures after undergoing training and development within start-up incubators. As this trend catches up in India as well, it will certainly be interesting to see entrepreneurship education and certification gaining ground vis-à-vis other management disciplines.
Talentedge, India’s leading online education company, offers a highly specialized and venture oriented entrepreneurship program for aspiring entrepreneurs, in collaboration with IIM Rohtak, one of India’s most respected institutions. Aimed at arming them with globally relevant knowledge as well as the knowhow of the innate traits required to launch and operate a new venture successfully, the program Is a must- have for every individual looking to launch their own venture or being a part of a start-up. Best-in-class pedagogy and industry relevant knowledge meets cutting edge digital technology to empower aspiring entrepreneurs to make better decisions consistently when planning and launching their new ventures.