Not all business school (B-school) students want to work in someone else’s company. Many want to be their own boss. So, B-schools are pitching-in to make it all happen.
Every year, a handful of B-school students look to start their own businesses. But money is always an issue. Now, it seems B-school graduates may find the cash right in their backyards.
Take Jamshedpur-based Xavier Labour Resource Institute (XLRI). For the first time, the institute has pumped in Rs 3 lakh of its own money for a venture by six students. Then, there’s the Delhi-based Faculty of Management Studies, which is in talks with four angel investors. Out of the seven venture capitalists, deals with three have already been closed. Indian School of Business in Hyderabad has also wrapped up two deals for its students.
“Companies are forthcoming but details have to be worked out. At present, we have talked to about three companies and are at various stages of discussion. Next year, we will talk to not just venture capitalists but also for scholarships,” Rammohan Rao, Dean, ISB.
It gets better for students with an entrepreneurial spirit. Not just money for business ventures, but scholarships to help repay those education loans as well.
With B-schools providing assistance at various levels, it’s getting easier for graduating students to take the entrepreneurial plunge.
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