Indian Institute of Management (IIM) Calcutta and IIM Calcutta Innovation Park have launched ‘Startup Readiness, Growth and Education (S.U.R.G.E): An Entrepreneurship Programme’ in partnership with Hughes Global Education India. The premier B-School of India has launched this unique programme for young and budding entrepreneurs which help them manage a startup in its early phases.
SURGE is delivered online via interactive online learning platforms for a duration of 6 months with two campus visits. With increasing international trade, recently launched ‘Startup India’ and an increase in entrepreneurship ventures in India, there has been aburst of opportunities for young entrepreneurs. India has seen an increase of 108 per cent growth in total funding from USD 2 billion in 2017 to USD 4.2 billion in 2018 says NASSCOM.
This makes it a great opportunity for individuals to learn various aspects of business and helps them build the right mindset, skills and knowledge for a successful venture. Success in an entrepreneurial venture is dependent on many factors – the business idea, understanding and tackling the regulatory environment, processes and procedures, and building and managing one’s organization through the heady, but tough, early phase of any organization. This programme has been designed keeping in mind these complexities of an entrepreneurial journey. The programme will be an entrepreneurship toolkit.
The course entails a ‘capstone project’ where the participants have to create a Business Plan using the tools and knowledge covered in various modules of the course and present it to a panel of judges which includes at least one venture capitalist.
Professor Suren Sista of IIM Calcutta said, “India has seen a surge in entrepreneurial ventures, however, one in every three businesses fails and often because of reasons that could have been avoided if some basic tenets had been followed. Therefore, it is important for young individuals to learn the basics and prepare for the unexpected. The emphasis of this course is towards providing a 360-degree view of entrepreneurship and to ensure that students get a strategic outlook to managing problems.”
The programme builds a mindset that helps in understanding the entrepreneurial journey and crystallizes a business idea. Management tools especially tailored for the entrepreneurs like Understanding the regulatory framework and law, Understanding Intellectual Property, Mastering Entrepreneurial Finance, Honing Marketing Skills, Operations for Entrepreneurs are all part of the programme. Working professionals who are early career executives with an orientation towards entrepreneurship and with an interest in starting a new venture or scaling an existing small venture would find the programme particularly useful. Working professionals wishing to participate in the programme need to have a minimum experience of one year.
The startup ecosystem saw a decline in the year2016-2017. However, it has regained momentum and there has been a 50% increase in the number of advanced tech startups. The rise has created 40,000 direct jobs and has seen a threefold increase in the number of indirect jobs.
The total number of startup funding deals, especially in the late stages, witnessed a massive growth of around 250 per cent from USD 847 million in 2017 to USD 3 billion in 2018," the report said.
These are times of great opportunity, the necessary infrastructure is in place and a lot of it is currently building up. Economic conditions and market conditions are currently conducive for the startup ecosystem. With a crystallized idea, honed skills and the courage to make an idea into a reality, this could be the time to make a successful inning.
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Hughes launches Start-Up Readiness, Growth and Execution (SURGE) An Entrepreneurship Programme by IIM Calcutta