The entrepreneurship cell of IIM-L that was lying defunct till now will get a new lease of life. It would be collaborating with the Indian Institute of Technology, Kanpur to establish an incubation centre that would promote entrepreneurship among budding managers. The issue was discussed in the board of governors (BoG) meeting and it was collectively agreed that such a collaboration would give a boost to entrepreneurship and make students job creators rather than job seekers.
Later, the BoG chairman Jamshed J Irani while addressing the graduating students at the convocation said that the entrepreneurship and innovation were the flavours of the season. He said,” During my graduating year, five decades ago, industry was the favourite. Nehru had, at that time, called industry the temples of modern India and all graduating students competed with each other to get into industries.” He further added that in the ‘70s and ‘80s it was the medicine that was the most popular and everyone wanted to be a doctor.
Irani said that its results could be seen in places such as US and UK that have benefitted from Indian Students becoming medical practitioners. He said, “India hopefully has benefitted from this.”
In the 20th century according to him technology, IT, and ITES were the favourite domains. He said, “Everyone decided to go into software so much so that there was a software bubble in the world which burst around the beginning of this century. Things have now stabilised, but ITES is still a popular destination. Now we are entering into a new flavour, entrepreneurship and innovation.”