Top management institute Indian School of Business (ISB), which has its campuses in Hyderabad and Mohali, is working toward creating a global corridor for Indian start-ups. This will help the start-ups to explore and pursue business opportunities in other countries and vice versa.
Prof Bhagwan Chowdhry, faculty director, I-Venture, which fosters entrepreneurship and nurtures start-ups at ISB, shares that the B School is looking at pulling in its alumni members as mentors to nurture start-up ideas into scalable businesses. ISB’s I-Venture administers business incubators and facilitates the conversion of start-ups into entrepreneurial ventures. To this end, it has various programs that cater to ventures at all stages.
Hitherto, the institute was doing work in pockets and wanted to bring them all into one umbrella. For this purpose, ISB will be asking its alumni members to turn into mentors. To date, ISB has 13,000 alumni members in 60-plus countries.
The alumni members will do the hand-holding and take up different roles based on the type of ideas. While some may be latent entrepreneurs, some may opt to be co-founders in the ventures. Ideas will be matched with alumni members to take the projects forward. ISB is also making efforts to work with other entrepreneurship ecosystem players and educational institutions. The entire focus will be on hosting start-up activities jointly and bringing teams together.
Some students in India might have ideas that are suited for Europe, the US, or other countries, and conversely, there could be ideas in other countries for India. I Venture will play a bridge and connect will local players, policymakers, and others.
I Venture is also doing an entrepreneurship program under CM ST Entrepreneurship and Innovation Scheme to support and promote entrepreneurs among scheduled tribes of India. In all, 170 start-ups graduated, 70 raised funding, 2000 jobs have been created, and the total funding raised by start-ups is about Rs 730 crore.