Friday, July 3, 2015

The Studentpreneur

Is engineering education still relevant?

One of our friends raised this fundamental question.

Why are people trying to improve the quality of something that is irrelevant? Wow, this gets interesting.

I had been toying with the idea of Studentpreneur for a loooong time; 3 years is a pretty long time to me.

So, we had Entrepreneurs, Intrapreneurs and now it is time or era of  Studentpreneurs.

So what is the concept of Studentpreneur?

Simple. Just start a bit early in your life. how early? May be in school or college.

Oh. that sounds studpid.

Yes. What makes an entrepreneur? An idea that is related to a service or product. Added with time, money and more importantly belief and commitment, an entrepreneur is in the making.

An Intrapreneur is someone having every other element of an entrepreneur sans the idea. Treating the organization working for as his/her own organization. It is like this. Let us say the salary is 50000INR per month. If we treat this as a profit out of business, which is 10% net on the higher side, then the turnover required is 5,00,000 per month. As a rule of thumb, this would require a minimum of 30,00,000 in capital investments.

Now, the case for studentpreneur, Information, study and research material are available at the click of a button. no more dependency on a teacher (poor teacher!!!). Market is global and not confined. parents foot the bill. Bill for tuitions, boarding and also entertainment.

A student can try to figure out his passion, try out an idea. Time, money, resource, lab. All are available. A typical bootstrap model. Support from family and friends. If the idea succeeds, you become an entrepreneur. in case the idea fails, you end up an Intrapreneur. A typical win-win.

As a student you can offered to fail. Fail any number of times. The world says, "Failure is the stepping stone to success". But the moment we loose the student tag, become an entrepreneur and happen to fail, the earlier quote is no more valid and the world will step on us. We become stones literally.

Industries actually do interviews for elimination and not for selection. The criteria for selection is just the hope that, people who are not eliminated may perform. But if you are a Studentpreneur, there is no need for an interview. It will be only a discussion. How does that sound? Ridiculous you think.

Welcome to the world of Studentpreneurs and micro-entrepreneurs. Thats the future. The future in the hands of younger generation.