TheThe Indian Institute of Management (IIM), Jammu, and EDII, Ahmedabad, signed a Memorandum of Understanding (MoU) at the IIM, Jammu campus, in presence of Dr Sunil Shukla, Director, EDII, Dr. B S Sahay, Director, IIM, Jammu, and Dr GM Dar, Director, J&K EDII. The objective of this MoU is to provide knowledge and support to the students and develop an ecosystem to support budding start-ups. EDII will impart entrepreneurial orientation, training and motivation to the students so that an amalgamation of entrepreneurial skills and their innovation bolsters the process of New Enterprise Creation.
EDII and IIM-Ranchi signed an MoU on May 22nd, 2020 over Cisco Webex collaborate in order to orient more youths towards an entrepreneurial career.
The objective of this collaboration is to promote entrepreneurial thinking among students and thus innovative start-ups. Under a partnership agreement, EDII will provide technical support in setting up IIM-Ranchi incubation centre at its Ranchi, Jharkhand campus so that innovative start up become the order of the day. Both the institutes will also jointly develop certificate courses on entrepreneurship development and skill enhancement. In addition, under student exchange and faculty development programmes, efforts will be made to build and strengthen an entrepreneurial ecosystem in Jharkhand and other neighbouring states. The collaboration will foster knowledge sharing, teaching, research and institutional support for both the Institutes.
Explaining about the partnership benefits, Dr. Sunil Shukla, Director General, EDII said, “The present and the coming times will nurture only businesses that are forward-looking and knowledge based and possess the ability to withstand crises and major catastrophes. The COVID-19 crisis has shown us how businesses need to pre-empt and be prepared for crises beyond just the market upheavals and financial emergencies. Businesses need to understand and be prepared for events that are not entirely in their control. This collaboration will spur creative entrepreneurship and better prepare our youths in entrepreneurship and management so that they are able to effectively sail through any disruptions.”
According to Prof. Shailendra Singh, Director, IIM Ranchi, “At IIM Ranchi, we are committed to grooming leaders with value-based education. This partnership will help us get necessary technical support to create world class infrastructure and a stimulating environment for innovation and entrepreneurship not only for the students, but also for the community at large. The incubation centre will aim to create a pipeline and stage varying idea baskets by collaborating with key stakeholders. The centre will provide necessary impetus and intellectual basis for the initiative through its experience and expertise in the areas of management, innovation, strategy and entrepreneurship.”
Dr. Milin Kamble, Governing Body Member, EDII and Founder Chairman, Dalit Indian Chamber of Commerce & Industry (DICCI) said, "I am happy that the two known institutions have come together to propagate entrepreneurship among students, who are the torch bearers of a happy tomorrow. EDII, with its domain expertise, network and expanse, will be able to ensure an appreciable spur in the process of New Enterprise Creation. Even DICCI is very active in Jharkhand with regard to offering a helping hand towards sustainable livelihood options for the tribal community. I am sure, while this will get a further boost, our youths will particularly get oriented towards higher-order achievements."
Considering the contribution of entrepreneurship in the growth of the economy, it is important to institutionalise efforts towards broadcasting this discipline. I am glad that the two institutions have joined hands to take up this cause. I look forward to seeing tangible outcomes. Also, a lot can be envisioned for tribal youths who have the potential but need a direction. So all in all, entrepreneurship needs to be encouraged across sections and sectors, which I guess will ensue from here with coordinated efforts by both the institutions. I look forward to policy advocacy in this direction too," said Praveen Shankar Pandya, Chairman, IIM-Ranchi.
Indian Institute of Management Ranchi has signed a MoU with Entrepreneurship Development Institute of India (EDII), Ahmedabad on May 22, 2020. This will create a conducive entrepreneurial eco-system through setting up of incubation centre at Ranchi and offering several programmes for students and faculty of the two Institutes.
With the joint efforts of IIM Ranchi and EDII Ahmedabad, a virtual webinar was held today, June 6, 2020 on the topic “Entrepreneurship for New India”. Dr. Sunil Shukla, Director General, EDII, Ahmedabad was the Guest Speaker in the online webinar session. Dr. Rohit Kumar, Assistant Professor, IIM Ranchi was the Moderator and students were the respondents.
Dr. Sunil Shukla talked about entrepreneurial ecosystem, entrepreneurial motivation, risk and barriers to entrepreneurship, entrepreneurial mind-set, opportunity driven entrepreneurship, and necessity driven entrepreneurship.
In terms of risks involved, there are two types of entrepreneurial risks- “sinking the boat” and “missing the boat”. Sinking the boat is when an entrepreneurial venture fails even after research and analysis, and missing the boat is when an entrepreneur spends so much time in research and analysis that by that time another entrepreneur grabs the opportunity and becomes successful. “Missing the boat is a more dangerous risk for an entrepreneur than sinking the boat” said Dr. Shukla. He cited various examples from his personal experience to give a better understanding to the audience who had joined the session. While talking about entrepreneurship in Indian context, Dr. Shukla mentioned various Government policies such as Stand-Up India and Mudra funding, and how to make the most of them. He encouraged the audience and mentioned 15 competencies that an entrepreneur should possess to achieve success.
When asked about the impact of Covid-19, he explains that all challenges must be seen as an opportunity, and the ongoing Covid-19 should be viewed as an opportunity as well. Addressing the classic conundrum of “jobs vs start-up”, Dr. Shukla quotes Narayan Murthy, “calculating the opportunity cost would have never landed me as an entrepreneur”. He explains that a person who is an entrepreneur will continue being an entrepreneur even as an employee by serving as an intrapreneur to the organization.
“Many companies those who launched innovative products, there are some inherent difficulty, but at the same time if the companies don’t innovate that means there is no risk, there is no innovation, they are saying that there is no innovation, but by not making any innovation, not experimenting in fact they increase the risk. If you are taking very high risk, that can be risky, but if I am not taking any risk at all, that also be equally risk”, Dr. Shukla Said.
Dr. Shukla also highlighted the importance of Entrepreneurship as a part of the education to motivate the students and develop the entrepreneurial mindset.
The audience also actively participated in the webinar and asked insightful questions that further stirred the conversation as they were addressed by Dr. Shukla.
The session ended with Prof. Satya Ranjan Acharya, Director of Cradle, TBI at EDII addressing the audience with a vote of thanks.