New Delhi-based FORE School of Management is all set to start Incubation Cell, which would provide support to the innovative ideas of students and propel them to start up their ventures.
"The cell would not only help the students to deal with various business processes but also take care of the legal aspects. Investor days would be held for start-ups ready to pitch before angel investors, corporate advisors and venture capitalists. I won't be surprised if, in the coming times, another Flipkart or Snapdeal emerges from FORE," said director Dr Jitendra K. Das.
In recent times, a surge in start-ups has been noticed. According to a recent NASSCOM report, there are 3,100 start-ups in India, the third largest base in the world. Over 800 start-ups are setting up annually, and it is estimated by 2020, there will be 11,500 start-ups employing over 250,000 people. Moreover, by NASSCOM estimates, Indian software product start-ups have attracted funding worth $ 2.3 billion since 2010.
'Venture capital investment have raised over three times more capital so far this year compared with year ago levels, highlighting intense investor interest in India's booming start-up sector and portending greater deal activity in the months ahead'. Prof Anita Tripathy Lal, faculty-in-charge of the Centre for Entrepreneurship Development (CED), FORE, believes that, 'with the setting of an incubation cell, the entrepreneurial ecosystem would be further strengthened. As this would encourage many more In-campus companies'.
The Centre for Entrepreneurship Development (CED) at FORE was set up in 2010 to inculcate an entrepreneurial mindset amongst the management students and create a conducive ecosystem to help the students develop their brilliant ideas into plans to start-up. According to Prof Lal, "All these years, only a few students have been opting out from placements to be an entrepreneur. However, with the incubation cell, there would be a good number of students who would be ready to take the plunge while they are pursuing their management course." Some of the institute's alumni, who are successful entrepreneurs, have always been a constant source of inspiration.
To name a few of the FOREpreneurs who have always been readily available for the centre's workshops and competitions being organized for the students round the year are: Sanjiv Bajaj, founder and MD, Bajaj Capital; Nikhil Nanda, MD, JHS SvendGaard Labs; Sanjay Sarma, co-founder and CEO, Design Worldwide; Pramit Jagannathan, founder, Idea to Impact; Anu Pachisia, founder, Silver Star and Abhishek Gupta, founder, HR Synergy.
The centre has a team of faculty and student members along with few FOREpreneurs fostering entrepreneurship at the campus. So far, the B-school has had association with The Indus Entrepreneurs (TiE) Delhi, National Entrepreneurship Network (NEN) and Department of Science and Technology (DST). The institute looks forward to have many more tie -ups with angel investors, HNIs and alumni to encourage, mentor, and handhold management students to forge ahead with their dreams to start out on their own.