Introduction
The Office of the COUNTRY CHAIR for UAE, representing the World Business Angels Investment Forum (WBAF), an affiliated partner of the G20 Global Partnership for Financial Inclusion (GPFI), recently organized a significant roundtable discussion on the topic “Role of Universities in Promoting Entrepreneurship Education.” The event took place on June 24, 2023, at 7:30 PM Indian Standard Time (IST). The roundtable welcomed an esteemed group of participants from the education sector, entrepreneurship ecosystem, and government officials. The event aimed to explore and discuss the crucial role universities play in fostering entrepreneurship education and promoting a culture of innovation and startup growth.
Distinguished speakers from various universities and organizations shared their insights and experiences during the roundtable discussion. Their presentations focused on effective strategies
to integrate entrepreneurship education into university curricula, the significance of practical experience and mentorship, and the role of university-industry partnerships in supporting aspiring entrepreneurs.
About World Business Angel Investors Forum
World Business Angel Investors Forum is a great platform, where stakeholders analyze why and how to leverage angel investment as a must-have financial tool for boosting economies, and to reiterate how entrepreneurial ecosystems can create more jobs, more wealth and more social justice in co-operation with key players in early-stage equity markets. The roundtable of World Business Angel Investors Week is celebrated every year, under a global theme and hosted more than 200.000 delegates from 132 countries. The roundtable of World Business Angel Investors Week sought solutions to critical issues of early stage equity and capital markets and other worldwide concerns at the United Nations, the European Union and in G20 countries and regional and local economies.
Participation from India
Dr.Syamjith Parakkott, Senior Legal Executive of State Bank of India was invited as Speaker from India to participate in the round table. Many dignitaries including the Senior Diplomats, Ambassadors, Counsel Generals of different countries, CEO’s of Multinational Companies, Educationist, Social Leaders, etc. participated in the round table.
The Success Story of “FIX IT”
Dr. Syamjith has highlighted the success story of a start-ups founded by a university student from Kerala. Mr.Mohammed Abdul Gafoor, Twenty year college student of the University of Calicut started a venture during the Covid pandemic and lockdown in July 2020. The name of his venture is “FIX IT”. During the covid time, the people in his locality were struggling to find workers to get jobs like plumbing, gardening and plucking coconuts. Mr.Gafoor made a directory of the people skilled in such jobs and advertised about it in and around the locality through flex boards and short videos. Now the company has grown up to be aggregator of household services which is spread over 3 districts in Kerala. The University has extended all technical support in his venture. His company now employs 72 staff and has wide network of skilled and unskilled labourers.
Dr.Syamjith emphasised that it may not require that all start-ups should grow into multibillion-dollar companies. Even small start-ups can create large impacts on the people, community, economic and social fabric of a region, state or locality, where they are functioning.
Thereafter, Dr.Syamjith quoted many examples to highlight the fact that successful start-ups and ventures can be emerged from university initiatives. He has quoted the example of In Shenzhen University in China, where students can take sabbatical leave up to 3 years to focus on their start-ups. He has also shared examples of the Indian Institute of Technology, Delhi which is the alma mater of many Indian unicorn startup founders. The founders of famous start-up ventures such as Schin Bansal and Binny Bansal – Flipkart and Deepinder Goyal (Zomato) were the alumni of the Indian Institute of Technology. The Indian Institute of Management, Ahmedabad has also incubated many start-up ventures of the students like Deep Kalra -MakeMy Trip and Sanjeev Bikchandani – Naukri.com. Dr.Syamjith has stated in his address that the alumni who have succeeded in entrepreneurship can give back by sharing their expertise and serving as mentors or guest speakers to new start-ups. He has quoted the example of Mr.Nandan Nilekani, one of the founders of Infosys Technologies Ltd., who is extending his full support to many startups of Indian Institute of Technology in Delhi, India.
Noteworthy Observations
Dr. Syamjith, a distinguished participant at the roundtable on the role of universities in promoting entrepreneurship education, made insightful and valuable observations that contributed to the enriching discussions held during the event. His observations shed light on important aspects of entrepreneurship education and highlighted its potential for fostering social and economic development.
“Entrepreneurship education will definitely contribute to social and economic development. When equipped with the right knowledge, skills, and mindset, entrepreneurs can drive positive change and create innovative solutions to address societal challenges. Universities can highlight and celebrate the achievements of socially responsible entrepreneurs through events, awards, or
dedicated platforms. By showcasing successful examples of socially responsible entrepreneurship, universities inspire and motivate students to follow a similar path, reinforcing the importance of social impact in their entrepreneurial journeys.”
Overall, Dr. Syamjith’s observations at the roundtable were positively received by participants. His insights underscored the importance of practical learning, mentorship, and collaboration in entrepreneurship education, aligning with the broader objective of nurturing entrepreneurial talent and driving social and economic development. His contributions added depth and perspective to the discussions, inspiring stakeholders to explore effective strategies and initiatives that can further enhance entrepreneurship education in universities.
Dr. Syamjith’s observations will undoubtedly serve as a valuable reference point for universities and policymakers as they continue to shape and refine their approaches to entrepreneurship education. By embracing his insights, universities can create an enabling environment that empowers aspiring entrepreneurs to make a meaningful impact and contribute to the growth and prosperity of their societies.
