Institutes need to nurture entrepreneurs
Premchand Palety
Stanford University exemplifies how an academic institution can lead societal transformation. When visionary faculty member Frederick Terman encouraged two of his students, William Hewlett and David Packard, to start a company, he set in motion a chain of events that would reshape modern history. Terman fostered an entrepreneurial culture that now permeates every discipline across the university. It is no exaggeration to say that Silicon Valley is, in many ways, Stanford’s gift to the world. Over the decades, countless start-ups have benefited from the university’s mentorship, particularly in emerging technologies that have driven some of the most rapid and profound changes in human history. Following Hewlett-Packard, companies such as Sun Microsystems, Google, Cisco Systems, eBay, Yahoo, Logitech, and Dolby Laboratories began as student projects at Stanford. This enduring spirit of innovation has helped give rise to more than 3,000 companies in high technology and other fields.
In our country, the need for entrepreneurs—though recognised by our policymakers—has yet to find enthusiastic backing in our institutes. While many Indian institutions have begun offering entrepreneurship electives, there is still a need for deeper curricular reform. Courses on ideation, opportunity recognition, business model development, design thinking, financial literacy, digital tools, and marketing can be introduced across disciplines—not just in business schools. Entrepreneurship is interdisciplinary; engineers, designers, scientists, and social science students all bring valuable perspectives to the startup ecosystem. Project-based learning, simulation exercises, and innovation challenges can make theoretical concepts actionable. Institutions can also adopt flexible credit structures allowing students to pursue startup projects as part of their academic requirements.
In addition to curriculum, hands-on experiential learning plays a vital role. Entrepreneurs learn best by doing—by building prototypes, testing ideas, and interacting with real customers. Institutes can set up student incubators, maker spaces, innovation labs, and fabrication workshops where students can experiment with technologies such as robotics, 3D printing, AI tools, or IoT devices. These facilities, combined with seed funding competitions or grants, can provide the critical early support students need to transform ideas into tangible products or services. Student entrepreneurship cells (E-Cells), common in many Indian colleges, can be strengthened to host hackathons, startup weekends, and innovation competitions that encourage collaboration across departments.
Another essential pillar is mentorship and industry interface. The journey from idea to enterprise is complex, and students benefit immensely from guidance by those who have navigated similar paths. Institutes can create mentorship networks that bring together alumni entrepreneurs, investors, industry professionals, and domain experts. Regular workshops, one-on-one mentoring sessions, and guest lectures allow students to engage with real-world challenges. Collaborations with industry partners enable students to work on live projects, gain internships in startups, and understand market dynamics. Such exposure not only builds confidence but also seeds early relationships that can evolve into partnerships, customer connections, or investment opportunities.
Funding remains one of the biggest challenges for student entrepreneurs. Although India’s startup ecosystem has grown rapidly, early-stage support for student ventures is still limited. Higher education institutes can establish startup funds, angel networks, and grant programs dedicated to helping students overcome financial hurdles. These funds need not be large; even small seed investments can help students validate ideas, conduct early market research, or develop prototypes. Additionally, institutions can guide students on how to pitch to external investors, apply for government schemes such as Startup India or MSME loans, and develop strong business plans. Incubators and entrepreneurship cells can also host pitch days where students present their ideas to investors.
Another strategic focus is fostering research-based entrepreneurship. Many universities in India, especially those with strong science and engineering departments, generate substantial research output. However, much of this research does not translate into commercial ventures. Institutes can bridge this gap by establishing technology transfer offices (TTOs) that support patenting, licensing, and the commercialization of research. Encouraging faculty-student collaboration on research projects, particularly in deep-tech areas like biotechnology, renewable energy, materials science, or AI, can lead to high-impact startups. Incentive structures for faculty who engage in entrepreneurial activities—such as recognition, grants, or flexible sabbatical policies—can further strengthen the pipeline of research-driven ventures.
Entrepreneurship in India must also be inclusive and socially conscious. Given the socio-economic diversity of the country, institutes have the opportunity to promote social entrepreneurship, where startups address pressing issues such as healthcare access, affordable education, waste management, rural livelihoods, and environmental sustainability. Universities can establish dedicated centers for social innovation that provide students with the knowledge and tools to build sustainable solutions for societal challenges. Collaborations with NGOs, government bodies, and rural communities offer students rich, real-world contexts in which to innovate.
Technology plays a central role in modern entrepreneurship, and digital competence is crucial. Higher education institutions must equip students with the digital skills necessary to navigate contemporary business landscapes. This includes familiarity with data analytics, cloud computing, digital marketing, AI tools, cybersecurity, and online business models. By integrating digital literacy programs and promoting the use of technology platforms for learning and experimentation, institutions can empower students to build scalable, technology-enabled ventures.
Finally, the larger institutional ecosystem must enable entrepreneurial freedom. Bureaucratic rigidity, outdated administrative practices, and inflexible academic calendars can stifle creativity. Institutes that adopt supportive policies—such as allowing semester breaks for startup work, providing academic credit for entrepreneurial projects, or enabling interdisciplinary collaboration—create an environment where innovation can thrive. Celebrating student achievements, hosting annual entrepreneurship festivals, and publicizing success stories can further strengthen the culture of innovation on campus.
In conclusion, institutes of higher education in India have enormous potential to shape the next generation of entrepreneurs. By nurturing an entrepreneurial mindset, offering experiential learning opportunities, strengthening mentorship networks, enabling access to funding, supporting research commercialization, and building inclusive, technology-driven ecosystems, they can play a transformative role in India’s economic and social development. As the country continues its journey toward becoming a global innovation hub, empowering young entrepreneurs will be essential—and higher education institutions are uniquely positioned to lead that effort.
