Indian Institute of Management Bangalore, strongly feel that it is not enough for aspiring entrepreneurs to have great business ideas, but, rather these ideas needed to be properly nurtured to turn them into successful ventures.
Experts at premier B-school Indian Institute of Management Bangalore (IIMB), strongly feel that it is not enough for aspiring entrepreneurs to have great business ideas, but, rather these ideas needed to be properly nurtured to turn them into successful ventures.
With this objective, a two-day workshop to train youngsters to develop sustainable business ventures was inaugurated on Monday at the Nadathur S Raghavan Centre for Entrepreneurial Learning (NSRCEL) at IIMB.
“The workshop is unique in its approach. Often, youngsters take part in business competitions, where they come up with interesting business ideas. However, these ideas are hardly implemented at the ground level,” said professor K Kumar, chairperson of NSRCEL.
“The Next Big Idea (a business competition) provides an opportunity for institutions to improve their capabilities in generating excitement about entrepreneurship and generating new ideas through competitions. The unique design of the programme places substantial emphasis on viewing business plan competitions as a means to the development of successful ventures and not an end in itself,” he said.
However, according to NSRCEL, very few business ideas which are shared in various business-related competitions are generally implemented at the ground level.
“The workshop is part of a capacity building programme of NSRCEL. We want business ideas to become reality,” said Chandar Sundaram, consultant at NSRCEL. About 35 business ventures have been incubated at NSRCEL, till date.
Dr Anita Gupta, head-micro enterprise and skill development at the department of science and technology (DST) said that it was time to encourage bright ideas by giving them the right eco-system, both in terms of logistics and finance, to grow and prosper.
DST works with about 100-odd institutes in India to help and nurture young entrepreneurs, mostly students.
“We spend nearly Rs40 crore per year to develop entrepreneurship programmes in India. Under our mentorship, we have nurtured about 1,500 entrepreneurs in a period of almost one decade in the country,” said Gupta.
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