B.S. Abdur Rahman Crescent Institute of Science and Technology (BSACIST), Vandalur has introduced a new course – MBA in Innovation, Entrepreneurship and Venture Development (MBA IEV) under Crescent School of Business (CSB) in association with Crescent Innovation and Incubation Council (CIIC), for candidates with a passion to ideate, innovate and develop a business. It offers a new way for students and working professionals to start their preparation in becoming an Entrepreneur.
The MBA IEV programme is specially designed by the AICTE-Ministry of Education’s Innovation Cell (MIC), GoI for Institutes having incubators. The main objective of this programme is to nurture and produce new-generation entrepreneurs with the right business skills whilst studying thereby contributing to the economic development of the country. It is curated with an objective to make Indian higher education system to produce new generation entrepreneurs capable of building innovative and simultaneously earning master degree.
The programme comprises of core and elective courses, skill certification, capstone projects and Action Learning Segments. This is an action oriented and outcome-based programme for the candidates having innovative ideas and problem-solving mindset. The students will receive access to pre-incubation and incubation support at the institute to convert ideas to business model, traverse a path of entrepreneurship and practice venture as part of academic curriculum to obtain the master’s degree. Also, the students are guided through the process of getting the patent rights of their conceived product and thereby transforming them into viable ventures through the assistance from qualified professionals in IP development.
“The New Education Policy of the Government of India seeks to make ‘job creators’ instead of ‘job seekers’”, says Narendra Modi, Honorable Prime Minister of India.
Speaking on the occasion, Dr. Peer Mohamed, Vice Chancellor, BSACIST, said, “MBA IEV programme is best suited for students who wish to nurture their own startup & for those students who have a dream of becoming an entrepreneur at a young age.”
“Based on the data by Startup India, India is the third largest startup ecosystem with a growing economy and this course has been designed to generate exceptional startups”, says Dr. A. Azad, Registrar of BSACIST. “MBA IEV enables you to create your own startup company with our support thereby providing ‘Money, Mentor and Market (MMM)’support for the startup” quoted Mr. M. Parvez Alam, CEO & Director, CIIC. “Running your own business is about freedom and Independence, it’s not about the money or return on investment. The sooner you make it, the more years you can invest to prove yourself and plan your future as well. MBA IEV programme is framed for transforming you into a New-age Entrepreneur,” expressed Dr. K. Srinivasan, Dean -CSB.
Also present on the occasion were Mr. Sivarajah Ramanathan, Founder & CEO, Nativelead, Mr. Chandu Nair, Start-up Advisor, Mr. Reji Joseph, Advisor Investor, Mr. Rajan Srikanth, President, Keiretsu Forum-Chennai.
According to Indian Private Equity and Venture Capital Association (IVCA) and Venture Intelligence (VI), about $17.2 billion has been infused in the Indian Startup ecosystem by venture capital firms during Jan to July 2021. According to Startup India, the top 15 deals constituted about 40% of total deal value, demonstrating that most funds are valuing deal quality more than quantity.Hence, by doing this course both students and working professionals have a double advantage of gaining knowledge and building their own company as well.
With advantages like funding from Government, NGO’s, Angel Investors and VC’s, Customized Curriculum & Academic Modules (Industry Specific Verticals), MBA-IEV programme operates on a simple quote which says “You have to work on your business first before it works for you”