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Entrepreneurship In Technical Institutes Prof P.V. Gupta Fellow ISTE 21.05.2010.

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1 Entrepreneurship In Technical Institutes Prof P.V. Gupta Fellow ISTE 21.05.2010

2 ENTREPRENEURS– THE CHANGE MAKERS SOME FAMOUS NAMES 1.Bill Gates 2.Sabeer Bhatia 3.Azim Premjee 4.Narayan Murti 5.Sunil Bharti 6.Sam Pitroda 7.Lakshmi Mittal 8.Rattan Tata ( Nano Car) 9.Verghese Kurien ( Milkman) 10.Dhirubhai Ambani 11.Karsanbhai Patel (Nirma) 12.Amita Roddick (founder of body shop) 13.Shahnaz Hussain (of herbal beauty) 14.Vandana Luthra (VLCC) 15.C K Ranganathan (Cavin Care)

3 16. Michael Dell (founder of Dell co.) 17. Ray Kroc ( Mc Donalds) 18. Kishore Biyani (Pantaloons malls, Big Bazar) 19. Jashwantiben Popat (lizzat papad) 20.Dr. Reddy of Apollo hospitals 21. Dr. Ram Das Pai 22. Swami Ram Dev Jee 23. Kiran Mazumdar Shah (Biocon) 24. Brijmohan Lal (Hero Honda) 25. Prof. Muhammed Yunus ( Noble Laureate- Grahmin bank) 26. Capt. G R Gopinath (Air Deccan) 27. K P Singh (DLF) 28. Rohtas Goel (Omaxe Ltd) 29.Ibuka & Marita (Sony)

4 30. Ram Chandra Sharma & Dr. P K Sethi (Jaipur Foot) 31. Frans Often (Netherlands of Light Emitting Diode Lamp) 32. Subrata Roy (of Sahara group) 33. Adi Godrej ( Chairman Godrej) 34. Kumar Manglam Birla 35. Naresh Goyal (Jet Airways) 36. Rahul Bajaj (Bajaj Auto) 37. Y C Deveshwar (ITC) 38. Vijay Mallaya 39. J.R.D. Tata 40. Lord Swraj Paul (Caparo Group) 41. Lord Karan Billimoria (Cobra Beer) 42. Indra Krishnamurthy Nooyi (CEO-Pepsi Co.) 43. Nandan Nilekani (Co-Chairman of Infosys)

5 DEFINITION: ENTREPRENEUR (The word was coined by Mr. J.B. Say, a French economist in 1800) -One who undertakes an enterprise or business (Dictionary meaning) -One who marshals the resources necessary to launch and/or grow a business that focuses on innovation and development of new products or services (Miami entrepreneurship centre) We shall define it as: An entrepreneur is an individual who launches a venture and/or significantly improves it through innovative means.

6 An entrepreneur is an individual who not only is a creater of value but also growth. An entrepreneurial venture is built around a need, a need to make lives more convenient, mobile, secure or exciting.

7 DIFFERENCE BETWEEN ENTREPRENEURSHIP AND INNOVATIVE ENTEREPRENEURSHIP (i)Starting garment business is an example of entrepreneurship while starting designer garment business is an example of innovative entrepreneurship. (ii)Whosoever designed wooden wheel carts driven by bullocks was an entrepreneur but whosoever improved carts with rubber tyre wheels and gears was an innovative entrepreneur. Similarly man driven rickshaw & motor driven rickshaw are examples of entrepreneurship & innovative entrepreneurship (iii) Manual stabilizer (entrepreneurship) Automatic stabilizer (innovative entrepreneurship)

8 (iv) Manual washing machine (entrepreneurship) Automatic (Fuzzy Control) washing machine (innovative entrepreneurship) (v) Desert coolers was an entrepreneurship example AC is innovative entrepreneurship- Remote controlled acs. (vi) Manual water taps and then sensor water taps & many such examples. (vii) Nano car (Tata) and Nano Fridge (Godrej) are examples of innovative entrepreneurship. Swatch

9 THOUGHTS ON INNOVATION Two Harvard economists, Sachs and Warner, studied 97 countries over two decades to understand what drove the economic success of nations. To the surprise of many, availability of abundant natural resources actually correlated negatively with economic success. Human ingenuity and innovation is always more valuable than physical resources. Vivek Paul, MD – Taxes Pacific Group Never before in history has innovation offered promise of so much to so many in such a short period. Bill Gates- American Entrepreneur

10 Innovation is a process by which varying degrees of measurable value enhancement is planned and achieved in any commercial activity. NKC Innovation brings together aesthetic sensibilities and scientific innovations. As creativity and enterprise blossom new jobs are created and new income generated for generations of working people Dr. Manmohan Singh, PM of India

11 CAN ENTREPRENEURSHIP BE TAUGHT? CAN ENTREPRENEURSHIP BE DEVELOPED? The answer is emphatic yes, just as managers/ leaders can be developed in Business Schools. There is an element of entrepreneurship in each person, which can be nurtured by providing the right opportunities and training. (Hyderabad based National Institute of Small Industries Extension & Training- NISIET) Where and how? Management and Engineering institutes & colleges are the best places for this activity Subjects & courses on entrepreneurships can be offered to students during their studies and facilities provided on campuses for developing innovative entrepreneurial ideas into proto-types.

12 HBS (Harvard Business School developed a capsule ‘Mgt of Small enterprises’ for stds eager to start their own business after World War- II (in 1947).Similarly HBS graduate and venture capitalist Arthur Rock funded the first Professorship in the field of Entrepreneurship at HBS in 1980. To-day HBS requires its 900 1 st year students to take a course called ‘The Entrepreneurial Manager’ and offers 20 elective courses in the area to its 2 nd year students, Even Wharton offers a major to prepare students for careers as autonomous entrepreneurs or as family business e-s.) EDI-Ahmedabad is the pioneer in India. These days most B-schools offer courses in e’s etc. Establish Entrepreneurship development parks (EDP) Incubators

13 Organize Entrepreneurship awareness camps Entrepreneurship development centers (EDC) eg. (i) IIM-B’s NSRCEL (Nadathur S. Raghnvan centre for Entrepreneurial learning which offers teaching & research, and state of the art incubator). (ii) IIM-L’s Abhiyan E-cell. Invite Entrepreneurship trainers Entrepreneurs for interface with students. Projects Final year projects in engineering colleges should be live projects which can be exploited commercially

14 WHAT CELEBRITIES SAY ON ENTREPRENEURSHIP IN EDUCATION There has been a substantial growth in our higher education. However our employment generation system is not in a position to absorb the graduates passing out from the universities, leading to increase in educated unemployed year after year. A multi pronged strategy is needed to make education more relevant. The system should highlight the importance of entrepreneurship and prepare the students right from college education to get oriented towards setting up the small scale industrial ventures which will provide them creativity and freedom and ability to generate wealth.” Dr. APJ Abdul Kalam, Former President of India at the 76th annual GM of FICCI

15 There is an entrepreneur within every human being. Our education system should encourage Entrepreneurship. The world remains deprived, the society remains deprived when human beings cannot explore their Entrepreneurial abilities because as an Entrepreneur, an individual could have contributed much more to the society than as an executive working for somebody else. With Entrepreneurship you can change not just yourself but also the world. Noble Laureate- Prof. Muhammad Yunus

16 COLLEGE CAMPUS, THE NURSERY FOR INNOVATIVE ENTREPRENEURSHIP The college campus, it turns out, can be an ideal incubator for hatching small businesses. Nanina’s Gourmet Sauce, a pasta sauce company based in New Jersey, was started, for instance, in 2005 by students taking an entrepreneurship course at Monmouth University. Nanina’s products are now sold in nearly 400 supermarkets and gourmet shops in New Jersey and Manhattan, and the company’s director of operations is 23 year old Nick Massari, a student in that class. Undergraduate courses in how to start and run a small business are becoming as ubiquitous as Economics. Gone is the conventional wisdom that running a small business cannot be learned by sitting in a classroom. According to the Kauffman Foundation in Kansas City, more than 2,000 colleges and universities now offer atleast an entire course of study in entrepreneurship. That is up from 253 institutions offering such courses in 1985. More than two lakh students are enrolled in such courses, compared with 16,000 in 1985.

17 MIT SETS CENTRE FOR ENTREPRENEURS Massachusetts Institute of Technology (MIT) has established an academic centre dedicated to development and entrepreneurship. Created with a $50-million funding from the Dubai-based Legatum, a private firm that invests in global financial markets and in initiatives supporting sustainable development, the Legatum Center for Development and Entrepreneurship will support aspiring entrepreneurs from the developing world, helping them acquire the knowledge required for successful business development. Legatum has significant interests in India, with almost $1 billion invested in the country.

18 HELP FOR INNOVATORS Honey Bee network, India which identifies individual innovators, provides them financial and technical assistance, helps them file for patents and devises models for self-sustenance – has so far mobilized over 75,000 innovations and traditional knowledge practices from over 500 districts. National Entrepreneurship Network (NEN) of the Hyderabad based Wadhwani Foundation (website: It offers platform for budding entrepreneurs. TiE (The Indus Entrepreneurs)-industry chambers promotes entrepreneurship.

19 TYPES OF ENTREPRENEURS A- Techno Entrepreneurs: Manufacturing Business Entrepreneurs Business Entrepreneurs: Retail Business, Service Business Social Entrepreneurs (Noble-laureate Mohammed yunus ) Educational Entrepreneurs (Dr. Ram Das Pai) B- Small Business Entrepreneurs Big Business Entrepreneurs C- 1st Generation Entrepreneurs 2nd Generation Entrepreneurs (Family Business Entrepreneurs) Age, Qualifications, Experience, Gender do not matter in the making of an Entrepreneur.

20 SOME INNOVATIVE ENTERPRISES Dabbawallas Sachet selling Designer clothes Voltage stabilizers Software solutions Coaching academies Multi-speciality hospitals Call centres, bill collection centres Security services centres Services Centres

21 SOME AREAS FOR ENTREPRENEURSHIP Health care Environment conservation Environment friendly buildings Rain harvesting Skyscraper farming Water conserving toilet systems E-wastes disposal Garbage disposal Waste water reuse Energy Efficient devices Cheap laptops (example: HCL’s laptops weighing less than a kg and costing less than Rs. 15000), Netbooks, Smartbooks Areas relating to clean technologies, green technologies, waste management and waste recycle technologies, Non conventional Energy technologies, Service technologies, Manufacturing technologies, New technologies such as Bio technologies, and Nano technologies, offer wide area for enterprenurers. Samsung Nano Silver washing machine rinses cloths in a bath of water & silver ions. TheSilver ions kill nasty germs. The Tata swatch is a cheap portable water filter that uses a grid of very tiny silver partical to shift dangerous bacteria out of drinking water.

22 EXAMPLES OF “GREEN” INNOVATORS Kumar Builders from Pune have installed solar water heaters for 1,400 residential flats (under construction) which will save over 3,000 megawatt hours of electricity annually. Saving one megawatt hour of electricity is equivalent to preventing a ton of carbon emissions, which is how we get the term carbon credit. Tata Energy Research Institute (TERI) is also reportedly designing commercial buildings, which don’t require air- conditioners. Tata motors are planning to go for green vehicles where the exhaust will no longer produce poisonous gas emissions, but organic steam. Designer Anita Dongree is installing windmills and solar panels at her new factory at Jaipur.

23 The Ministry of Science & Tech has identified various areas to harness S&T for solutions to vexing problems like WAR (Wining Agumentation & Renovation) for water, TAP-SUN (Technology and Products) for Solar Energy Utilization through Net working), Special Public-Private Partnership Schemes including (i) Small Business innovation Research (SBIR) (ii) Biotechnology Industry Partnership Programme (BIPP) (iii) Biotechnology Industry Research Development Assistance Programme (BIRAP) etc and many more. The Teachers & Students of technical institutions can make full use of the opportunities offered by the ministry in exploring ideas for entrepreneurship and innovation.

24 FACTORS THAT INHIBIT ENTREPRENEURSHIP Lack of Motivation, shyness and inhibition on the part of the individual. Ignorance of the opportunities that he can avail. Lack of requisite managerial skills to start and manage enterprise. Lack of finance for initial investment Lack of familial and community support for enterprise Scared of the cumbersome and time consuming process in establishing an enterprise and even if he starts the enterprise, he is not sure of the sustained support from the agencies. Some Sources For Financial Help D.I.C – District Industries Centre NBARD- National Bank of Agricultural & Rural Development NSIC - National Small Industries Corporation SFC - State Financial corporation Commercial Banks

25 SUCCESS FACTORS A- Ability to identify ideas, opportunities & sources B- Build ;capabilities & teams C- Confidence, (face) Challenges and Competitions D- Determination, Decision (making) E- Enthusiasm F- (clear) Focus G- Goal H- Humility I- Initiative J- Judgment K- Knowledge L- Learn (from others’, from mistakes); leadership (qualities)

26 M- Management & Mobilizing of financial & resources N- No (to die) O- Open to suggestions, Observation P- Patience, Passion and Perseverance Q- Quality (in what ever he does) R-Risk taking, (nurturing) relationships S- Stead fast and self control T- Trustworthiness and team work U- Upright, Understanding (of Business, of the prospective Customers) V- Vision W- Work hard X- (E) xecution Y- Youthful energy & enthusiasm Z- Zeal (Can do)

27 Ramesh Chauhan (Chairman, Bisleri) His mantras for being a successful entrepreneur First of all, never think that it is easy because the market is huge and getting a small piece of the cake won’t be difficult. Be prepared for eventual hiccups. You may have to bear losses and even humiliation in the first couple of years. But hang on. Before launching your business, carry out foolproof research on every aspect of the business – product, technology, competition, market size, product quality, operation, et al. It shouldn't be like I have got an idea, so here I am. Do it only if you are passionate about the idea.

28 Story of an Enterpreneur An entrepreneur observes, seeks an idea & converts it into reality in spite of failures. Nine year ago, Laura Udall noticed that her young daughter Rachel suffered back pain from lugging her books back and forth to school. Udall, a former saleswoman (at AT&T), decided to develop & market a backpack light enough for children to wear safely. She founded her company in 2003 & hired an industrial design firm. But after getting frustrated with a lack of progress, she turned to her husband, Nick. “He is brilliant at coming up with things, so he went into the garage and came up with our first prototype for a rolling book bag,” she said. Today, Udall, 52, is chief executive of Zuca Inc, a $2 million business in Campbell, California, that makes luggage. Her husband works for her as vice- president for design & manufacturing.

29 Another Example Shawan Runacres, a U.S Berkley graduate came to India 8 years ago with her husband, found that the only way expat families could find domestic staff( Help) was thro a reference with in the community or thro neighbours which did not always work. So she decided to set up ‘Domesteq Services’ co to provide house-hold services to expat community but now she has more Indian Clients than expats. The Co has a Vice-President (o) a manager (Training & Placement), an asstt. Director (Special Projects) a member & consultants. The Co trains Domestic Help in various chores, even teaches them English, to work as cleaners, cooks, children matrons, etc. before it places them in job. It has the attention of National skills development corporation, to create a curriculum for skill development of Domestic Staff. (HT-15.5.10)

30 An idea that turned her into an Entrepreneur Peggy Newton of Lefanon, Missouri, came to New York to be among the skycrappers – a club of tall ones; She was 5 feet 10 inches in height and had the same trouble other girls of height had in securing desirable dresses. From a life insurance company she learned that the average height of American woman is 5 feet 3 inches and that one woman out of four is more than 5 feet 6 inches in height. So she planned her own business with manufacturers and established the first clothes shop for tall girls and made it work. She became an entrepreneur.

31 Grief leads father into an Entrepreneur to create bomb-defusing robot The knock on Brian Hart’s door came at 6am. An army colonel, a priest and a police officer had come to tell Hart & his wife that their 20 year-old son had been killed when his military vehicle was ambushed in Iraq. Brian Hart didn’t channel his grief quietly. Committed to “preventing the senseless from recurring,” he railed against the military on his blog for shortcomings in supplying armor to soldiers. The one-time Republican teamed with liberal senator Edward Kennedy to tell Congress that the Pentagon was leaving soldiers ill equipped. And then Hart went beyond words to fight his cause. He became a defence contractor. He founded a company that has developed rugged, relatively inexpensive robotic vehicles to disable car bombs and roadside explosives before they denote in hot spots like Iraq and Afghanistan. Now, Hart has won over military brass he so harshly criticizes. Three years after starting Black I Robotics Inc, Hart won a $728000 contract from the Pentagon to further develop the ‘Land Shark robot’. Technology to protect troops is a subject uncomfortably close to home for Hart, who says the death of his son, army private John Hart, left him in “total devastation”. Brian Hart can’t forget the call he got from his son in Iraq a week before he was killed by a gunshot on October 18,2003. “He asked me to help him: Get us body armor and vehicular armor,” Brian Hart said ”He thought he’d be killed on the road in an unarmored Humvee. And a week to the day later, he was. ”

32 The Pentagon contract requires Black-I to supply three of its six-wheeled, electric-powered vehicles this year and provide support. The military will test two units, while Boston’s Logan airport will get one for bomb-disposal duties. If tests go well, soldiers in Iraq could be using the robots as soon as next year, Hart says. His company is also trying to secure an additional $1.5m in Pentagon funding next fiscal year. At 275 pounds and 4 feet long, Black-I’s Land Shark looks like a dude buggy without a seat for a human driver. Hart hopes to make them available for sale next year, with expectations that the cost would be $65,000 to $85,000 per robot. The vehicle can pull tilling equipment to plow up soil where an explosive or trip wire may be hidden. Or it can drop off ‘disrupters’ that can be maneuvered near a bomb and set off, with jets of water disabling the bomb. Hart contends Land Sharks will be far less expensive than many of the Pentagon’s current bomb-disposing robots. Those models have more sophisticated electronics, but also are more fragile than Land Sharks, which use car batteries rather than lighter and pricier lithium-iron batteries.

33 SOME SUCCESS STORIES S K Bahl(an electrical engineer) – Logicstat voltage stabilizers, Delhi Bharti Bhushan (again an electrical engineer)– Jindal Electricals, Ludhiana Dr. Ajay Satia (medico)– Satia Paper Mills Ltd, Mukatsar, Pb.

34 Some young entrepreneurs (Ref India To-day, Aspire March 2009) 1. Sarath Babu 28, BITS Pilani & IIM-A Graduate, Founder: Food king (Catering Service) Seed Capital Rs 2000 Current turnover Rs 7 crore (Food King ) 2. Vivek Pahwa age 27, MBA (ISB-H) Founder & CEO of Accentium web (first website-,, new website in education, personal financing and content aggregation) Seed Capital Rs 4.5 crore Growing at 100% year on year. (Web-Portals provider)

35 3. Atul Khekade 26, Computer Science & IT graduate Founder: Airnetz, a commercial flight pool services Seed Capital Rs 5 lakhs Current turnover Rs 5 crore.(Service-Provider) 4. Saloni Malhotra Age23, Engineer Founder : Desi crew, rural BPO that trains talent in villages of small towns, incubated at IIT-M Current turnover Rs 1.5 crore(Trainer)

36 5. Amit Agarwal 28, management graduate Co-founder, Star Agri warehousing & collateral management that provides end to end logistics solutions to farmers. Seed Capital Rs. 5 lakhs turn-over Rs 3.86 crore 6. Kaushlendra 28, Agricultural engineer & MBA from IIM-A Founder kaushalya Foundation that aims to make Bihar the vegetable hub of the nation. Started w/o any initial investment, Current turnover Rs 2.5 crore 7. Rajat Sethi 23, IIT-K Answer to low carbon requirements.

37 8. Arvind Lamba 24, B.Tech from IIT-Allahabad, IIM-A Graduate Founder: Mantis Technologies which is an online ticketing & business management platform for bus operators & travel agents- making travel easy. Seed capital Rs 40 lakh Current turnover Rs 1.5 crore(Services Provider) 9. Nelvin Joseph,23 CEO-Avtin Dynamics Product Spara which reduces power losses Seed Capital Rs 10lakh 10. Deepak Kalhan,28, Computer graduate Digitalising Market Places Seed Money Rs 10,000 Expected turn-over Rs 1.5 lakh 11. Anand Chhatpar 27, Grad Univ. of Wisconsan Madison CEO, Brain Reactions that uses creative college students to brainstorm new products & services for Fortune 1000 Companies.

38 12. Prakash Mundra, age 28 (Newage Pundit) Marketing graduate Founder Sacred Moments, Customized designer Puja kits Seed money Rs 4 lakh Current turn-over Rs 1 crore 13. Dhruv Lakra – Founder of Mirakle Couriers, Mumbai – (MBA Student) Social entrepreneur – engaged deaf adults for carrying couriers. 14. Harish Handa – (Engg degree from IIT-K, Doctorate in Energy Engg – Unit of Massachusetts) – Founder of SELCO based out of Bangalore Pioneered access to rural solar electrification to 8,00,000 charts across Karnatka of Kerla and has now moved to Gujrat.

39 At the recent 6 th open house IIT-D students show-cased innovative solutions. It included Domestic Chair Lift- a Chair mounted on an inclined plane fitted on stairs, just sit on it and push the button to go up & down. Can be used by old, physically challenged or heart patience. Water-less urinal was another item. It has a mechanical trap which prevents the odur from going out, useful for saving water in public toilets. Role of ISTE The ISTE can play a very effective role in creating awareness in entrepreneurship among students of technical institutions in the country and nurturing future entrepreneurs. ISTE may reserve a page or half in the news letter to regularly publish details of students and teacher entrepreneurs & their entrepreneurial activities. It should also institute “young entrepreneur of the year”, awards in different disciplines of Engineering and Technology on all India basis similar to the annual ET-entrepreneur (From Industry) award. For these awards it may involve Industry & Industrialists who may be ever ready & willing to fund such a move. This will improve Industry- Society interaction and bring revolution in entrepreneurship culture.

40 FINAL THOUGHT Entrepreneurs are not super-humans. What is different is their approach towards things, their vision, their inclination towards treating challenges in a more creative and positive way, and their determination to achieve their vision against all odds. Change is the essence of creativity, and these two are inseparable qualities possessed by every successful entrepreneur. Entrepreneurs transform their ideas into businesses. They have persistence and loads of determination to succeed in them. They always believe in making their mark in their own way. The best way to conclude is with the lines of Calvin Coolidge: “Nothing in the world can take the place of persistence. Talent will not; nothing is more common than unsuccessful men with talent. Genius will not; unrewarded genius is almost a proverb. Education alone will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent.”

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