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Blog Keywords: Bangalore
IIM Bangalore
IIMB
Cultural Events
Management Education
Entrepreneurship
B-Schools
India

Tuesday, May 04, 2004

Posted 8:08 AM by Anurag
IIMs/IITs and Entrepreneurship?

This is someting I had written to ZDNet Editor quite sometime back.

Entrepreneurship is not a prerogative of IIT/IIMs (at least not IIMs). Just look at the biggest home-bred companies. Do they belong to IIT/IIMians? NO. Most of them are powered by people who had no access to the wonderful resources provided by places like IIT/IIMs. That makes it all the more surprising that people who are not well connected with resources have made it big and why have the IIT/IIM people not? The answer could very well be: security. Students at high-flying institutions know that a plum job is waiting for them. Why bother about sleepness nights of starting a business. In fact, why bother even thinking about starting a business? Personal disloaction is something which us high-flyers dont have to worry about. But if u see the history of major businesses around the world, personal disloaction has been the major motivating factor behind the start of a company.

IITians have started some big companies in the technology related areas but IIMs have failed totally on Entreprenurial front. The only major flurry of Entreprenurial activity at IIMs was seen in the dot-com era. Can u attribute that activity to a sudden spurt in Entreprenurial spirit of IIM junta? No. It was the external stimuli that provided the opportunities, and people were just trying to grab a piece of the pie.

Entreprenurial activities are picking up at IIMs. But for serious businesses to come out of IIMs - like in the US B-schools - it looks like we have a long way to go yet.

Ultimately, do not expect the high-flying MBAs to come up with life-changing businesses. Leave that for the common man. They are better at it.
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