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The entrepreneurial university

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The entrepreneurial university

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Universities that adopt innovative practices to upgrade themselves from teaching institutions to entrepreneurship ecosystems that provoke, facilitate and launch innovators and entrepreneurs to the business world are what countries need today. How ?

Universities that adopt innovative practices to upgrade themselves from teaching institutions to entrepreneurship ecosystems that provoke, facilitate and launch innovators and entrepreneurs to the business world are what countries need today. How ?

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The entrepreneurial university

  1. 1. The Entrepreneurial University / College K. Rajaraman Director, Entrepreneurship Development Institute www.editn.in
  2. 2. Entrepreneurship as a Competency set  Entrepreneurship as “the dynamic, interaction between entrepreneurial attitudes, Entrepreneurial abilities, and entrepreneurial aspirations by individuals, which drives the allocation of resources through the creation and operation of new ventures.”  In short, entrepreneurship can be felt, measured & grown!
  3. 3.  Joseph Schumpeter :  Theory of “creative destruction”  Innovators & New firms unleash creative destruction Importance of Entrepreneurship & Innovation
  4. 4. Importance of MSMEs & Startups  Young firms with innovative technology have the highest potential capacity to generate a large number of jobs.  EU : 60% jobs accounted for by SMEs.  Germany : 80% jobs come from SMEs.  S. Korea : 90% jobs generated by SMEs.
  5. 5. Importance of MSMEs & Startups  In India, the MSMEs employs 40% of the workforce. Has huge potential  By 2020, 63% of India’ s population will be of working age.  Low entrep rates : Only 0.09 companies were registered for every 1,000 working age person
  6. 6.  84.79 lakh job seekers, which includes 18.05 lakh undergraduates and another 6.13 lakh postgraduates.  Over 3.3 lakh engineering graduates await jobs  1.71 lakhs are engineering graduates.  1.59 lakh are engineering PGs. Tamil Nadu Scenario 2014
  7. 7. What kind of entrepreneurship should HEIs promote ? Source: Global Entrepreneurship Index 2016 Where are We ???
  8. 8. Is Entrepreneurship for everybody ?  95% will go as managers  PECs help students become intrapreneurs – think and act like the owner of your company  PECs help students see, seek and grab the best opportunities  PECs help students take risks ad manage them   5% will become entrepreneurs  We will see as to how PECs help business owners
  9. 9.  What options do students from families in business have in HEIs? Do HEIs prepare them for such responsibility? Should not colleges be inclusive and sensitive to requirements of such sections ?  Should HEIs discriminate against aspiring entrepreneurs (5%) and be an entirely placement led institution? Why entrepreneurship in Colleges ?
  10. 10.  Entrepreneurship is about competencies (attitudes+abilities+aspirations). Would not education be meaningless if it does not lead to competency development ?  Will not entrepreneurial competencies be of use for the 95% who do not aspire to become entrepreneurs at this point of time, given that employers prefer entrepreneurial (intrapreneurs) employees ? Why entrepreneurship in Colleges ?
  11. 11.  Strategic initiative 1 – Increasing the share of manufacturing in TN economy  Strategic initiative 2 - Making SMEs vibrant  Strategic initiative 3 - Making TN Knowledge Capital and Innovation hub of India Tamil Nadu Vision 2023
  12. 12. EDI Vision & Mission  Creation of an aspirational entrepreneurship culture ie., opportunity driven entrepreneurship, NOT necessity driven!  Enhance support ecosystem for entrepreneurs  Launches Innovation and Entrepreneurship Development Program (IEDP) for Colleges (www.editn.in/pages/iedp.html )
  13. 13. Process oriented approach to E&I in Universities and Colleges
  14. 14. Current status  Placement culture (Good, but not enough)  Reflect cultural mindset of poor risk-taking  Most colleges indifferent to ED & I  Colleges conduct EACs, while few colleges have EDCs & Bis, fewer have incubators  ED&I activities are fund & donor driven and  Not Vision driven
  15. 15. Today ...
  16. 16. Institutional Vision  Aspirational entrepreneurship culture built up within college by 2017 : Management, alumni/students & faculty  College as a Collaboration hub: between faculties, alumni,local industry, banks, etc.  Supportive ecosystem established in stages within college by 2017  An interim goal : 5 Alumni or students passing out launch own enterprises from 2018 ….. ?
  17. 17. From Events to Processes... Plan and implement these three interlinked processes :  College E&I Ecosystem Enhancement Processes  Faculty & Student E & I Competency Development Processes  Faculty & Student Innovation Promotion Processes
  18. 18. College E&I Ecosystem Enhancement Processes
  19. 19. Ecosystem Enhancement Process  ED & I Vision :: Buy-in from management & all faculties for long-term ED&I processes, resources  Partnerships: College ED&I Council with successful entrepreneurs & alumni, local bankers  Breaking down silos: Faculty training on E&I across ALL faculties  Institution E&I Policy: Policy and Incentives for faculty and Students
  20. 20. College E&I Council ALL FACULTY Banks Angels VCs Successful Entrepreneurs Local Alumni R&D Labs CSIR ICAR ICMR Local Industry MSMEs & Large Industry Mentors Retired Entrepreneurs, Researchers bankers Tech Transfer Office (TTO) IP Advisors BIRAC GITA NSTEDB DEITY College E&I Council ALL FACULTY R&D Labs/COE Incubator Students E&I Club THESTARTUPCOLLEGE
  21. 21. Student & Faculty E&I Competency Development Process (applies for intrapreneurs too ...)
  22. 22. GEI : India jumps 29 places ! Source: Global Entrepreneurship Monitoring Report 2017
  23. 23. Student Entrepreneur Competency Development Processes
  24. 24. ECDP : Year 1 (Those interested – 10%?)  Process to commence in 1st year for students of all faculties & alumni (final year is too late)  Entrepreneurship Awareness Workshops  Competency assessment self tests  E&I Courses : Design Thinking, Innovation, Entrepreneurship, with participation credits  Successful STARTUP entrepreneur Interaction  E-Club membership (only on signup). EVERY CANNOT BE AN ENTREPRENEUR
  25. 25. ECDP : Year 2 : 5% group  Online Courses : NEN MOOCs on Design Thinking, Entrepreneurship, Innovation, Creativity (NENonline.tv)  Run-your-company programs  Business idea competitions  Business Opportunities Workshops  Internships in Successful STARTUPs  Business case challenge competitions
  26. 26. ECDP : 3rd and Final year :: 1% group  Seed funding : Idea to POC  Prototyping & Test marketing  Product marketing plan  Business Plan preparation (alumni/other entrep. /Students)  Financing workshops & tieups  Business launch
  27. 27. Faculty & Student Innovation Promotion Processes
  28. 28. Innovation Quality:Global Innovation Report 2016
  29. 29. College Innovation Policies (KTU/GTU)  Student & Faculty E & I Policy  E&I electives (Entrepreneurship, Design Thinking, etc) with credits for E&I activity (Online/offline)  Innovative & relevant PRODUCT work (project work)  Incentivise R&D, publication & patent filing by faculty  Faculty permitted to take board/equity positions  Faculty & student enterprise sabbaticals permitted  IP Policy  IP creation & commercialisation given importance  IP value sharing policy (institution, industry, faculty, student)  Financial Support for IP registration
  30. 30. College Innovation Attitudes  Business & Value orientation  Allow innovation mindsets  Multi-disciplinary teams (joint R&D teams from medical college, engg college, management faculty etc)  Allow for & learn from failures
  31. 31. College Innovation Focus  Focus on applied, translational & joint research  Strong connection to local economy:  Farmers associations, Womens groups  Research centres : IICPT, NRCB, ..  Industry, Business Associations  Annual ideation contests with local players to identify problems & opportunities  R&D focus on local & regional problems  SME problems → competitiveness & quality  Urban problems → Smart liveable cities
  32. 32. Innovation Infrastructure  Attract top PhD faculty  Adjunct faculty from Industry  Strong research labs and programs  Inter-disciplinary research teams  R&D labs plug into incubator  Industry partnership (Research, Adjunct faculty, Funding)
  33. 33. Innovation Infrastructure  Innovation spaces : Fablabs, Biohacker spaces  Technology Incubators  Get in Technology Innovators  Seed & Angel funding tie ups  IP training and advisors
  34. 34. Innovation Funding  Consultancy assignments from Industry  CSR grants from Large companies  Startup Action Plan 2016  Atal Innovation Mission (NITI Aaayog)  BIRAC / NSTEDB / DEITY Programs  GITA (joint projects with MSMEs)  MSMED (GOI) Programs  State Innovation Fund
  35. 35. Innovation Processes
  36. 36. ENTERPRISES LAUNCHED Life Sciences – 5, Manufacturing – 10 Services – 25 IT & IteS – 10 (Students – 10, Alumni - 40) Tomorrow ….
  37. 37. Desired outcome : Hi Quality NOT numbers!!  Vignesh Janakiraman  Director at Plasmatech Solutions Pvt Ltd  C/o VIT Incubator  Efficient recovery of valuable proteins from human plasma  IP developed @ VIT  PhD @  Université de Bordeaux
  38. 38. Desired outcome : Hi Quality NOT numbers!!  Lakshmi & Venkat  R&D @ PSG STEP  Aries Biomedical is the R&D service provider in the field of Biomedical and Biotechnolgy. We have indigenous product to monitor NCD diseases in the form of Remote diagnosis and wearable technology.
  39. 39. Desired outcome : Hi Quality NOT numbers!!  Dr. Kavitha PhD  FIB-SOL  @ IITM BioIncubator  Liquid bio fertilizers (LBF) and Fertilizer carrying membrane (FCM) are the two products developed at FIB-SOL, which, comprises of microbial formulations
  40. 40. Getting started We can get started by supporting proven businesses or family businesses by students or alumni
  41. 41. The Entrepreneurial College :: Can each of you get the Top Management prepare a 10 year Roadmap ?
  42. 42. Way forward  Form a E&I Council – bring in top partners  Announce a E&I Vision & Policy  Revamp internal processes by removing blockades to E&I  Monitor outcomes
  43. 43. Outcomes Sl Outcome Indicators Entrepreneurship 1 Number of Startups currently being incubated within HEI 2 Seed capital grants or angel funding arranged for startups in HEI 3 Current employment by enterprises under incubation & graduated 4 Gross annual turnover of enterprises under incubation & graduated last year
  44. 44. Outcomes Innovation 1 Number of patent families filed in more than 2 offices 2 Number of patents that have been incubated into enterprises 3 Number of patents licensed to external industry 4 Royalty revenue from patents commercialised Regional Economic Development 1 Number of local MSMEs being assisted currently in problem solving or technology support 2 Industrial Consultancy Turnover last year
  45. 45. The ultimate goal: A Regional Ecosytem Hub Jeff Immelt, Chairman GE, on MIT “Culture and attracting the right talent are also why we are moving from suburban Conecticut to downtown Boston. Its an ecosystem made by and for innovation. In Boston, we can be challenged by a doctor from MassGen or a student from MIT. We need to be in this environment.”
  46. 46. Thank You! dir@editn.in http://www.editn.in/ Entrepreneurship Development Institute of Tamil Nadu (An autonomous society of the Government of Tamil Nadu) Parthasarathy Koil Street, SIDCO Industrial Estate, Guindy, Chennai-600032 TN INDIA Twt: https://twitter.com/edichennaitn, https://twitter.com/StartupTNGOVFbk: https://www.facebook.com/EDITamilNadu/ Tel : +91-44-2225-2081/82/83/84

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