Last 10 years, India witnessed a tremendous spurt in the entrepreneurial space. Entrepreneurship also goes a long way to usher innovative solutions that are sustainable and user-centric, leverage local resources and creates an inclusive society at the same time. Most importantly, entrepreneurship in one sector bolsters growth in the other sector because each sector is related to the other. 

Corporate Entrepreneurship/Intrapreneurship - a New Entrepreneurial Model 

We know a great deal about entrepreneurship, but lets explore intrapreneurship also known as corporate entrepreneurship. Intrapreneurs are people who leverage the potential of the parent company to incubate newer ventures with a distinct business model and product offering, different from the parent company. This is relatively a new concept and according to Steve Jobs- this model of entrepreneurship is all about going back to the garage but in a well established set up. Blue-chip companies in the likes of Google, Intel, Uber have a gone a long way in fostering dynamic entrepreneurs within their organization that has led to the development of powerful entrepreneurial ventures. Let’s understand this better with the help of a case study. 

Case Study, Apple Intrapreneurship 

When we think Innovation, we think Google. It was Paul Buchheit who offered the whole world with a product that was highly personal and supremely innovative built on code from various Google groups. Any guesses for that? It was the first version of Gmail released way back in 2001. Moving away from conventional HTML, he built it on the JavaScript Code and that too with a storage capacity of 1GB. Furthermore, Buchheit over the years added features such as indexing and accessibility turning Gmail as an indispensable part of lives in the 21st century. 

Key Learnings from the Case Study 

  • By supporting entrepreneurs within the organization, the management can create an environment of innovation and ownership.
  • By fostering entrepreneurs within the organization, organizations create this great opportunity for the development of futuristic solutions that are effective and sustainable

Entrepreneurship Education, Best Bet for GenNext Entrepreneurs

The question now arises how to foster the entrepreneurial spirit within a corporate set-up. The best way is to encourage enterprising employees to register for courses in the likes of SURGE (Successful Renewal in Growing Enterprises), offered by IIM Calcutta and IIM Calcutta Innovation park  in collaboration with Hughes Education. This course has been particularly designed to offer new-age working professionals with entrepreneurship toolkit to drive innovation within their organizations. The course curriculum covers the following critical value points such as:

  • Essential Management Competencies for Corporate Entrepreneurs
  • Creative Thinking and Opportunity Conceptualization
  • Managing for Business Growth & Corporate Renewal

The programme culminates with a capstone project evaluated by veteran industry experts. This is also a splendid opportunity to familiarize with both the formal and informal processes for developing a new business case within their organizations. With the entire nation working towards building a self-reliant India, academic education of this kind is pertinent to start with.