The environment in India is looking positive for start up growth these days. The penetration of smart phone and internet, and the new government kick starting the reform process all bode well for the future of start-ups making India the place to be right now!
With this boom in the entrepreneurship pattern, Indian Institute of Management, Ahmadabad will offer an exit scholarship for two of its fellows who decline job offers to set up their own start up. IIM-A will be the first organisation to provide this scholarship of Rs. 30,000 per month for two years.
“Offering exit scholarships will encourage our graduating students to pursue non-traditional but socially impactful careers,” Ashish Nanda (director of IIMA) said.
Professor Amit Karna, an associate professor of strategy at the business policy area of IIM-A, where he also chairs the Centre for Innovation Incubation and Entrepreneurship (CIIE), said, “IIM-A will give financial aid to two fellows after recognizing their need. This financial aid will be given apart from existing mentoring helps from CIIE.”
The new age start ups are reformulating the way we go on with our lives. Be it Flipkart changing our ways of shopping, or Ola redefining the taxi system. Paytm is the new bank, and Forus Health is attacking blindness with gusto. Team Indus is on its way to land a rover on the moon. Start ups are changing every sector, be it agriculture, social, economic, everything, anything.
Start ups not only are transforming India from within, but is helping its people grow as individuals too. There are so many developmental opportunities in start ups as compared to established businesses. Start-ups are of often smaller teams so you can have a lot more impact and there’s more responsibility you can grab, which isn’t the case in a large company. Working at a start-up will allow you to try on a lot of different hats, even that weird one that you didn’t think you would ever like, but find out that you did. All around you, people will come up with innovative solutions to age old problems or making that new tool that simplifies or enhances your life in some way. You’ll be instilled with the value of hard work, ownership, and self sustainability.
This new species of business thrive only at specific places in the world, and we are lucky to have them in our country. The most famous is Silicon Valley. Europe is a veritable desert. South America has only Chile as a small oasis. Asia however looks very promising. Israel became a start up hub first, then China, and now India. We are the third largest start-up ecosystem in the world, and well on the way on becoming number second.
The scheme of providing scholarship to help build up new start-ups is a key development in India’s economic boom. Someday, India will become the second Silicon Valley, booming with start-ups created by dynamic individuals.
