“ You cannot teach entrepreneurship to anyone”, is a saying quoted too often in the corporate world.IIT Kharagpur is all-set to prove this wrong! A new school of entrepreneurship has been opened. A one of its kind idea, this venture sets IIT-Kharagpur as the pioneering engineering college in India to have aschool of entrepreneurship, the Rajendra Mishra School of Engineering Entrepreneurship(RM SoEE).
What is the Rajendra Mishra School of Engineering Entrepreneurship?
The school of entrepreneurship is a new addition to the campus. It provides a Masters in Entrepreneurship along with your B.Tech degree. The entrepreneurship course is offered to B.Tech students as a five year course – 4 yrs for B.Tech and an additional year for the entrepreneurship course. The 5th year will be spent creating and supporting your start-up. The aim of this school is to bring excellence in Entrepreneurship education so that the most brilliant and young entrepreneurs are able to quickly rise-up the ladder of success, hence bringing about an entrepreneurial renaissance inIndia.
Why is it needed?
Already, IIT kharagpur produces the largest number of start-ups compared to other IITs. But still, the ratio of start-ups to jobs is lower than in other countries. Also, with India set to become an economic super power, the time is set for India to enter a golden age of entrepreneurship. Such start ups goon to generate jobs and empower people. But, at present, our entrepreneurs lack financial backing and guidance. This school will provide much-needed mentorship and know-how to all the legions of would-be entrepreneurs.
What are the benefits of opting for this course?
The benefits for students are immense. After the attainment of the course the student will:
• Develop the skills necessary to think and act entrepreneurially within large, established organizations
• Identify new business opportunities
• Finance a new business
• Manage a family business
• Turn your ideas into marketable innovations
Why this course is unique
1. The only school in the entire IIT system which integrates engineering and entrepreneurship to help startups technology based companies.
2. A student can earn an additional degree of M.Tech in Engineering Entrepreneurship with no additional academic load in the same duration of his/her Dual Degree course at IIT.
3. Each student is allocated a faculty mentor and an industry mentor to refine and mentor his business idea.
4. Funding by several organisations like TIETS, DST,DIT,MSME and DSIR along with provission of office space for incubated startups makes it the best incubation facility in India and among the best in the world.
5. IIT Kharagpur is the only institute where under-graduate students can get a deferred placement program,which means that student can launch and work on his startup for a maximum of two years and can still avail the option of placement from the campus, in case the startup doesnot work out.
6.Reasearch collaborations with University of California, Berkely,and University of Jyvaskyla,Finland make available a large technological and support network to RMSoEE Students.
The basic tenets of entrepreneurship will be taught during the 5 years. The 1st three years will have six core entrepreneurship related subjects. The 4th year will have 1 elective and the final year will have 3 elective subjects. The program includes exciting and challenging topics like risk analysis, business plan development, financing your venture among many others. The students will be encouraged and provided technical and financial support to roll out their start-up by the time they finish their 5th year.However, there is no binding rule about launching a startup. A person can explore any other career option.
Long term objectives of the School of Entrepreneurship:
The bold long term objectives of this program include setting up of an entrepreneurial culture at IIT- Kharagpur, solving problems and helping foster the development of the rural areas around IIT- Kharagpur, encouraging innovation, creativity and risk taking, generate long term societal benefits and create jobs. The faculty hope to make entrepreneurship in IIT Kgp as a way of life, not just an academic subject.
If I am a student of B.Arch or MSc Integrated programme, can I opt for this degree for my fifthyear?
At present, this course is restricted to BTech and dual degree students. M.Sc as well as B.Arch students are not eligible for admission to RMSoEE
Can RMSoEE students seat for placements in the end of fifth year?
Yes, RMSoEE students can seat for placements if their startup doesnot work.
How have the industry and the alumni reacted to such a bold step by IIT Kharagpur?
We have received endowments from several alumni for creating a corpus fund for the school. The Industry in general has been quite enthusiastic regarding this proposal.
“In today’s context, if you have to make a difference and want to make India’s presence felt globally, we should be creators of jobs and products, not just job seekers. With a view to achieving that dream, this school of Engineering Entrepreneurship is a great step forward.” - Prof Dr Damodar Acharya, Director, IIT Kharagpur
Additional Notes on Enrollment to RM SoEE
The following streams of people can apply for MS at RM SoEE (Rajendra Mishra School of Engineering Entrepreneurship):
- 1st year B.Tech students
- 1st year Dual Degree students
For Dual Degree students, the B.Tech + M.Tech at the end of five years is converted to B.Tech + M.Tech in Engineering Entrepreneurship at the end of 5 years
B.Tech student will also get their B.Tech + M.Tech in Engineering Entrepreneurship at the end of 5 years
Will their be a credit overload?
No! The SoEE will have one extra subject which will be added instead of your breadth. This way, the course hours and credits will not differ significantly from the normal time table