How Can We Develop Entrepreneurs in Indian Engineering Education?
Thanikachalam Vedhathiri, B.E., M.Tech., Ph.D., M.S., vthani2025@yahoo.in
Entrepreneurship Development Vison ?
Lifestyle ?
Welcome to this Webinar • India admits around 1.6 million students into engineering programs every year and 0.8 million complete successfully • Only about 0.3 million graduates find jobs within one year • About 1.0 million are having skills to work in public sector companies, private sector companies, MNCs, and in engineering colleges • A small percentage continue their further education
• MSMEs are becoming economic drivers and are providing the majority of the jobs. • China faced this problem, but they concentrated on the entrepreneurship education and boosted employment through entrepreneurship. • Many developed countries have mastered the transformation process of developing entrepreneurs. • Engineering colleges have to implement many initiatives to train entrepreneurs so that the graduates can plan business models, create start-ups and innovate through MSEs.
Feedback on Longitudinal Studies on the Engineering Graduates • Most of the alumni (87.8%) desired more exposure to real world practices • They further expressed the need for coaches and mentors in planning projects • Around 16.2 % wished to start their own MSEs based on the knowledge gained • About 88 % demanded more practice oriented courses • They stated that more industrial visits and on the job training are needed • Many wished to manufacture salable products from their project works
Engineering Students have Ample Opportunities to become Knowledge based Entrepreneurs
Need for Research • Knowledge based Indian economy needs more competent entrepreneurs in engineering and technology • 1.0 million students need jobs in engineering companies per annum • Substantial number of graduates are underemployed/ unemployed in India • Need for project based instructional design • Most of the existing engineering curricula do not focus on the entrepreneurship development
Entrepreneurs ?
Status of the Untrained Entrepreneurs • Most of the entrepreneurs started working on their ventures without adequate knowledge. • While they eventually learned by trial and error, many false starts and redirections could have been avoided with a complete understanding of the start-up dynamics. • Many lack interdisciplinary approach to plan the projects • Many neglect the risks • Many don’t plan appropriate business plan
Objectives of this study • Identify the best global practices in entrepreneurship development in engineering education. • Assess the entrepreneurial development efforts in well performing Indian Institutes and Universities. • Suggest appropriate transformation processes to incorporate entrepreneurial development in the engineering curricula.
Deepak Khazanchi (2016)
• Engineering students have to translate skills into abilities to solve practical business/ research problems.
Selected Global Programs in Entrepreneurship • • • • • • • •
Aalborg University’s Entrepreneurial Engineering Program Dartmouth’s Engineering Entrepreneurship Program (DEEP) University of Michigan’s Interdisciplinary Graduates Programs University of Notre Dame’s Engineering Science and Technology Entrepreneurship Excellence Master’s Program (ESTEEM) Georgia Tech Industry Collaboration Programs MIT– Boston’s initiatives Tsinghua University, China Technion, Israel
Let us study these programs and initiatives in the next section
Goals of Ministry of Education, China • Expose students to the challenging prospect for employment and raise their entrepreneurship • Lay a solid foundation of knowledge on entrepreneurship • Improve students entrepreneurial skills and abilities through class room learning and beyond • Reduce entrepreneurial risks among students
Context of Entrepreneurial Education in China
• Higher education is facing difficulty with structural unemployment of graduates caused by higher education expansion • MSMEs are becoming drivers and providing the majority of jobs in China through “Made in China” • Policies of Chinese federal government provided favorable environment for students involved business start-ups • Provincial governments provided more favorable policies for university graduates to create their own business plans and start new venture
International Programs in Entrepreneurship Development • Aalborg University’s Entrepreneurial Engineering Program -Develops mindset and skills -Students are trained to bring technical competencies into the program and creatively combine with business savvy in order to create new values with a foothold in their background. -Students learn to generate, develop, and realize ideas
Dartmouth’s Engineering Entrepreneurship Program (DEEP)
• Integrates entrepreneurship with leadership training • Students are immersed in the interdisciplinary team project • Provides project opportunities • Immerses them in hands-on innovation and technical entrepreneurship • Student teams develop project ideas out of a general area, brainstorm a solution, build and test a prototype, develop a business plan and present their idea to review board of potential funders.
Interdisciplinary Graduate Programs of University of Michigan • “Master of Entrepreneurship” • Students discover how science and innovation create value in the market place • Create customer-ready prototypes • Provides hands on experience to budding entrepreneurs
Georgia Tech’s Industry Collaboration • Engage and Recruit Top Students • Access Research and Development • Established an “Office of Industry Collaboration (OIC)” • Established an ‘Enterprise Innovation Institute’ to develop Workforce
MIT Boston’s Initiatives • Learning by Doing • Established: - Martin Trust Center for Entrepreneurship - Deshpande Center for Technology Innovation - Provided Venture Mentoring Service - Started Bernard M Gordon-MIT Engineering Leadership Program - Organized Legatum Center for Development and Entrepreneurship
Suggestions of the US National Science Board • Public funding is essential to sustain the excellence of public research institutions that play a significant role in the nations innovation system. • Federally funded academic R&D is instrumental in creating and sustaining a world -class higher education system that prepares the next generation of national scientists and engineers and also attracts and trains high ability international students, researchers and faculty.
KAB?
Know About Business (KAB) (UNESCO)
• Teaching basic knowledge and skills about enterprises and entrepreneurship • Students gain an overall understanding of how to start an enterprise • Promotes the concept of entrepreneurship • Cultivates innovation and entrepreneurship in young talents • Uses psychological assessment and team-based games to help students to understand entrepreneurs’ general characteristics and quality • Helps to acquaint them with the whole process - From developing business ideas, writing a business plan, launching a business, and all the way through running a business
Pilot Program in Chinese Universities • Set up by Chinese government, universities, and enterprises • Developed talents of innovation and entrepreneurship • Established Entrepreneurship Park and Science Park • Invited corporate sector to become an active player
Chinese National Advisory Commission • • • •
College Presidents Government Officials Successful Entrepreneurs Provides consultation and guidance for universities in the field of entrepreneur education
Innovation Loop
(Tsinghua University, China) • Interaction among innovation awareness, practice and outcome • Transition from awareness to practice then outcome • Support system consists of - Financial support - Seed money - Consultancy support
Student Entrepreneur Competition • Around 40% of the students participated • Conducted workshops, seminars, saloons, investment fairs • Urged students’ scientific transfer • Facilitated the interaction among students • Encouraged Science and Technology achievements • Provided venture capital • Encouraged students to participate in other competitions • National Entrepreneurship Competition • Tsinghua Summer Camp for Innovation and Entrepreneurship • Global Entrepreneurship competition
Initiatives of Tsinghua University • Tsinghua Science Park • 400 corporations including Microsoft, Google, Proctor and Gamble • Garnered investments from both Chinese and international agencies • Provided consultation and funds to student entrepreneurs
• China research Center for Entrepreneurship • Mission: To create the leaders of China’s high-tech ventures and venture capital firms • Offers educational courses basic research to further understanding of dynamic process of entrepreneurship development
GTE Program?
Global Technology Entrepreneurship (GTE)Program • Tsinghua University established GTE In cooperation with University of California at Berkeley • Seasoned entrepreneurs and experts from AsiaPacific region and the United States join the faculty of GTE Program • Alumni of Tsinghua University and University of California at Berkeley participated • Goal: Universalize entrepreneurial knowledge and develop the world’s next technology leaders • Bring real world experience to class room • Teaches core concepts in technology entrepreneurship and innovation to engineering and science students of Tsinghua University • Skill based development and incubation in Science Parks
Indian Initiatives
Entrepreneurship Development Institute of India [EDII], Ahmedabad • Set up in 1983 under the Society’s Act of 1860 • Sponsored by IDBI Bank Ltd, IFCI Ltd, ICICI Ltd, and SBI
• Centers of the Institute - Entrepreneurship Education and Research - Micro Enterprises, Micro Finance and Sustainable Livelihood - SMEs and Business Development Services - Center for Cluster Competitiveness, Growth and Technology - Social Entrepreneurship and Corporate Social Responsibility - SMES and Business Development Services - Women Entrepreneurship and Gender Studies
National Innovation Council • Develops a culture of inclusive innovation • The Government of India has declared 2010 to 2020 as the decade on innovation • The Science and Technology and Innovation Policy , 2013 aims to position India among the top five Global Scientific Powers by 2020 • Plans to establish Technology Business Incubators and scienceled entrepreneurship institutions
Imparting Balanced Mix • • • • • • • • • • • •
Knowledge of Procedures Formalities Legal Aspects Markets Business Environment Skill of managing Employees Funds and Material Leadership An aptitude to take Calculated Risk Communication Skills Negotiation and Networking Inter-personnel Relationships
Status of India in Entrepreneurship • Global Average - 20.94% • BRICKS - 13.01% • India - 7.60 %
Entrepreneurship Institutes in India • Institute of Entrepreneurship Development, Lucknow, UP • Centre for Entrepreneurship Development of Karnataka, Dharwad • Maharashtra Centre for Entrepreneurship Development, Aurangabad • Centre for Entrepreneurship Development, Bhopal, MP • Institute of Entrepreneurship Development, Bhubaneswar, Orissa • Industrial Consultancy Organization Ltd, Cochin, Kerala • HPCED, Shimla, HP • Centre for Entrepreneurs Development, Madurai, TN • Haryana Institute of Pubic Administration, Gurgaon • Entrepreneurship and Management Laboratory Building, Jaipur, Rajasthan • Centre for Entrepreneurship Development, Hyderabad, Telangana • Entrepreneurship Development Institute, Srinagar, J&K • Institute of Entrepreneurship Development, Patna, Bihar • Entrepreneurship Development Institute of India Ahmedabad, Gujarat
Selected Indian Institutes’ Initiatives • IIT Madras’ Incubation Cell, and Introduction to Modern Application Development (IMAD) • IIT Indore’s Innovation and Entrepreneurship Development Center (IEDC) • IIT Gandhi Nagar’s Entrepreneurial Development Efforts • NIT Trichy’s Center for Entrepreneurship Development (CEDP)
What is the focus of the engineering programs?
Does the Engineering Curriculum Focus on Entrepreneurship?
Focus of the Entrepreneurship 1.
Country
USA EU
Focus Growth oriented ventures or companies Programs promote skills for building financing and nurturing high growth companies Equated small & medium sized enterprises (SME) Training focuses on management skills
Review of ABET Criteria: 3 a- k , & 4 a- b.
ABET Criteria 3 for Engineering Entrepreneur • (b) An ability to design and conduct experiments, as well as to analyze and interpret data • [c] An ability to design a system, components or process to meet desired needs with realistic constraints such as economic, environmental, social, political, ethical, health and safety, manufacturability and sustainability • (e) An ability to identify, formulate and solve engineering problems • (j) A knowledge to use contemporary issues • (k) An ability to use the techniques, skills, and modern engineering tools necessary for engineering practice
Criterion four of ABET for Engineering Design “Criterion-4” : Process of devising a system, component, or process to meet desired needs • Criteria 4a and 4b: Design be integrated throughout the curriculum • Engineering students must be prepared for engineering practice through the curriculum culminating into a major design experience based on the knowledge and skills acquired in earlier work and incorporating engineering standards and multiple realistic constraints •
Integrated Product Development Model • • •
• •
(John B Ochs) Phase-1: Opportunity Scanning Phase-2: Conceptual Design and Product Planning Phase-3: Product Development, Manufacturing and Marketing Phase-4: Mass Production and Marketing Phase-5: Service, Repair and Maintenance
Instructional Design Process for incorporating Entrepreneurship for Engineering Students Develop sample projects based on the curriculum and the market potential Consult alumni ,market leaders and the SMESs Clearly define the project to be completed and the time frame Encourage the students to work in small groups Guide in realistic design, costing and resources needed for implementation Help them to prepare payment schedule Incorporate the quality and ethics Assess the risks Encourage safe practice Review the development through peer evaluation Encourage seminar presentation
Initiatives to Develop Entrepreneurial Programs • • • • • • • • • •
Start a unit for entrepreneurial development center Involve all senior faculty members Plan one day meeting with the successful entrepreneurs Evaluate the curriculum and add additional topics based on the entrepreneurship needs Expose the faculty towards the emerging opportunities Select viable topics for project works based on the curriculum Guide the students to complete the projects Coach them to prepare a business model Review the output through a set of entrepreneurs Evaluate the potentials, risks and key success factors
Suggested Transformation Process • • • • • • • • • • • • •
Assessment of the Curriculum Curriculum Improvement Faculty Development Analysis of Current Needs of the MSMEs Planning and Design Assessment of Market Cost of the Components Risk Analysis Business Plan Registration Sources of Funds Financial Management Taxation HRM
Jointly Evaluate the Curriculum through Entrepreneurs • • • • • • •
Review obsolete topics & courses Introduce industry specific courses Provide the needs of the entrepreneurs Coach to develop high potential projects Assist the students to incubate Encourage start ups Arrange venture capital
Idea Generation and Validation • Idea Generation would yield the most important products needed • Validate the idea through MSMEs • Out of the Box Thinking would provide many innovative products and services • Form a Committee of Entrepreneurs to mentor the students in each branch
Less than 2% of the Engineers are Entrepreneurs !
Proto Type Development • • • • • • •
Analyze the Needs Plan, Design, Produce, Test, and Improve Assess the Market Potential Check the Key Success Factors Incubate Get Funds from the Venture Capitalists Mass Produce and Market Successfully
Changes needed in the curriculum and instruction Cognitive ? Psychomotor? Affective?
Managerial?
Incubation Process Relate incubation process to the curriculum and instructional planning .
Initiatives that could be taken by the Colleges • A Cell for Entrepreneurship Development in every engineering college • A Research Center on entrepreneurship development at state level • Workshops for the Faculty Development • An Innovation Center at state level • Summer Camp for the students to refine their projects • Funding from venture capitalists • Mentors from the successful entrepreneurs • POTENTIAL for the entrepreneurs • Display of Potential Projects for the engineering graduates
What is the Role of an Affiliated Engineering College? • Develop an Institute Policy to establish an entrepreneurship development center • Get the Assistance from the nearest “Entrepreneurship Development Centre” • Train your faculty • Select a Chairperson • Conduct an in-house Faculty Development Program • Brain storm • Get the participation of well established alumni • Get the needs of your students • Develop Suitable Curriculum specific real life projects • Discuss with the students • Convert them into Final year Projects • Conduct one day Seminar with the participation of the local entrepreneurs • Get the Feedback and Improve
Summer Internships for the Engineering Students • Areas - Programming, Sales, Design - Graphic and Web Design: apps, graphic design, UI/UX development, - Content writing - Analytics - Research - Periods : 2-3 months in summer - Stipend : Rs. 5000 to 25000 per month • Virtual internship : Up to six months
Utility of Summer Internships Benefits to the Students Develop good resume Exposure to corporate world Assess skill gap Acquire relevant skills Get a job in a company
Benefits to the Corporates Catch young talents Invite fresh set of ideas Cost reduction Project- based shortterm training Recruit creative engineers
Training Programs of IMAD • IIT Madras: Introduction to Modern Application Development [IMAD] • Modules: Introduction to Internet, Building a Web Application, Data bases, Performance and Security, & Building a Mobile Application • Partners: -Hasura -Digital Ocean -SheRoes -Microsof -StartupVillage
Virtual Training Center of Internshala • • • • • • •
Android Application Core Java Data Analytics Digital Marketing Internet of Things Python Web Development
Internship Partners of Introduction to Modern Application Development (IMAD) • • • • • • • • • • • • • •
AGRUM COGBOOKS DIGIGRID HASURA HUNTERTECH IAMAI INDEE KAMBAA INCORPORATION NOTESHOW PICK YOUR TRAIL PIPECANDY SOLVER MINDS STUDIOS SWIGGY
Organizations that offer Internships • • • • • • • •
Hasura Hello Intern Internshala Lets Intern Platform Klenty Nearbuy Twenty19.com We Unite
Pillars of Israeli Ecosystem
• Public and Private – sector financing of innovation • Developing an entrepreneurial culture in the educational system • A focus on specific sector • Technological revelation • Government created an environment that favored technological innovation as a base of its national economy • Created “Yozma” a $210 million investment • Participation of 3500 companies with active technologies • World’s leading country in terms of start-ups per capita
Entrepreneurship and innovation Summer School for Students in Israel • Advanced one month program • Develop ideas into a start-up in an entrepreneurial environments • Fields: sofware, big data, cyber world, online media and related areas • Start-up simulations • Off-site activities including business and industry site visits • Meetings with Israeli business leaders in the different fields of expertise • Working in small teams with business mentors • Participating in a simulated VC presentation
What is more important in addition to an engineering degree? • According to Steven L Reid founder of Industrial Environmental Systems in Georgia, USA - Accounting - Management - Operations Management - Economics - Marketing - Research and Statistics - Leadership - Quality Management - Communication Skills
According to Steven L Reid… • Entrepreneurs need to be flexible and patient • Never devalue soft skills and visionary thinking • Be strategic in a project • Assess the opportunities • Acquire skills in multidisciplinary areas • Collaborate with individuals with different skills
What shall we do in Global economy with its chaos and disarray? • According to Steven L Reid: - Is actually a target-rich environment for technology-based entrepreneurs - Recognizing and vetting these opportunities, ofen within constrained timeframes, are challenges more easily handled by entrepreneurial engineers
Krishna Uppuluri: “Engineer to Entrepreneur : First Flight” • • • •
Entrepreneurs should assess the commercial viability Build a team with diverse skills Marketing is essential Focus on customers, ship fast, make changes and iterate • Manage risks since you can’t eliminate them • Market size, customer demographics, manufacturing, and support cost need to be set first • Funding is like a turbocharger, hence use correctly.
An Incubator for Students • Startup Village Kochi and Visakhapatnam offers a month-long massive open online course • Started by Sanjay Kumar • Partnership with Department of Science and Technology’s Technopark TBI, Govt. of Kerala • Other partners: Ola, Tally, Fresh Desk, Citrus Pay, Microsoft Ventures & Kalaari Capital • Selection of a business idea • Building prototypes • Launching products • A week in “Silicon Valley”
Ultimate Competition through Entrepreneurship Development Lion has to be trained to become an entrepreneur !
Impact of entrepreneurship development in China !!
Lessons • Develop Educational Policy to Encourage Innovative Entrepreneurship Development Programs • Develop Interdisciplinary and Multidisciplinary Curricula • Focus on the Resources, Infrastructure, Culture of the Institute, and the Key Skills of the Faculty • Measure the Achievement of the Students • Evaluate the Program Achievement Continuously and Bring Improvements • No Shortcuts
Are you planning to add 2-4% of the focus on entrepreneurship development?
Ultimate Entrepreneurship Development Caged lion! (Student in a class room)
Entrepreneur lion (Student in a real life situation)
Thank you Your questions to achieve more! (vthani2025@yahoo.in)