Can We Undertake Entrepreneurship Development in Engineering Education ?
Thanikachalam Vedhathiri vthani2025@yahoo.in
Welcome to this Webinar • India admits around 1600000 students into the engineering colleges every year and 800000 students complete • Only a 300000 graduates find jobs • About 100000 are having skills to work in government sector, MNCs, engineering colleges • A small percentage continue their further education through postgraduate programs. • SMEs are becoming economic drivers and 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. • Indian engineering institutes have to implement many initiatives to train entrepreneurs so that the graduates can plan business models, create start-ups and innovate through MESs.
Feedback on Longitudinal Studies on the Engineering Graduates • Most (98 %) of the alumni desired more exposure to real world practices • They further expressed the need for coaches and mentors in planning projects • They wished to start their own MSEs based on the knowledge gained • 43% demanded more practice oriented courses • They stated that more industrial visits and training • They wish to salable products from the project works
Engineering Students have Ample Opportunities to become Knowledge based Entrepreneurs
Need for Research • Knowledge based economy needs more competent entrepreneurs • 1.6 million students enter into engineering colleges per annum • Substantial number of graduates are underemployed/ unemployed • 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 redirection could have been avoided with a complete understanding of the start-up dynamics.
Objectives • 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
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 • SMEs are becoming drivers and providing the majority of jobs in China through “Made in China” • Policies of 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 Graduates 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 Office of Industry Collaboration (OIC) Enterprise Innovation Institute Development of Workforce
MIT Boston’s Initiatives • • • • •
Learning by Doing Martin Trust Center for Entrepreneurship Deshpande Center for Technology Innovation Venture Mentoring Service Bernard M Gordon-MIT Engineering Leadership Program • Legatum Center for Development and Entrepreneurship
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 • Set up by Chinese government, universities, and enterprises • Develops talents of innovation and entrepreneurship • Establishes Entrepreneurship Park • Science Park • Invites 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)
• Interaction among innovation awareness , practice and outcome • Transition from awareness to practice then outcome • Support system - Financial support - Seed money - Consultancy support - Support system
Student Entrepreneur Competition • Around 40% of the students participated • Conducted workshops, seminars, saloons, investment fairs • Urge 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
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 • 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
Selected Indian Initiatives • IIT Madras’ Incubation Cell • IIT Indore’s Innovation and Entrepreneurship Development Center (IEDC) • IIT Gandhi Nagar’s Entrepreneurial Development Efforts • NIT Trichy’s Center for Entrepreneurship Development (CEDP)
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
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 programs • • • • • • •
Review obsolete topics courses Introduce industry specific courses Provide the needs of the entrepreneurs Coach to develop high potential projects Assist them to incubate Encourage start ups Arrange venture capital
Idea Generation and Validation • Idea generation would yield the most important products • Validate the idea through MSMEs • Out of the Box thinking would provide many innovative substitutes
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 ?
Incubation Process Relate incubation process to the curriculum and instructional planning .
Initiatives that could be taken • 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 • State for the entrepreneurs • Display of potential projects for the engineering graduates
Ultimate Competition through Entrepreneurship Development Lion has to be trained to become an entrepreneur !
Impact of entrepreneurship development !!
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% of the focus on entrepreneurship development?
Entrepreneurship development Caged lion!
Entrepreneur lion
Thank you Your questions please