Start-up founders and innovators, here's what dual specialisation can do for you
As students increasingly look to start their businesses rather than seeking traditional jobs, what advice do you have for ensuring their start-up ideas are future-proof and viable? How can they show their ideas are likely to succeed, given that well-researched and validated start-ups have better outcomes?
Today the job market has become so fierce and competitive that most students prefer to start their own business rather than looking for a 9 to 5 job.
A study shows that in today’s time around 78% of students show interest in becoming an entrepreneur. With emerging trends like artificial intelligence and sustainability gaining prominence, conducting thorough market research to uncover new opportunities and understand customer demands is crucial.
For ideas to be future-proof, they must be highly adaptive.
Entrepreneurs can't rely on a single fixed product or concept because, as they work on an idea, others may be developing something similar elsewhere. There is no monopoly on ideas, so staying adaptable and continuously evolving is essential to remain more competitive than others in the start-up ecosystem.
Furthermore, students should develop prototypes and gather real-world feedback through surveys, this will showcase their concept’s viability. Lastly, by analysing competitors, students can pinpoint what makes their ideas unique and sharpen their value propositions.
With emerging start-up trends like sustainable innovation and tech-driven solutions, how is FOSTIIMA’s dual specialisation programme adapting to prepare students for these future entrepreneurial opportunities?
Our dual specialisation focuses on equipping students with the skills that they need to excel in areas like operations and analytics, which are increasingly vital in today's evolving business landscape.
We have numerous programmes that are related to modern technology like machine learning, Artificial Intelligence (AI), cybersecurity and many more, teaching students about how technology plays a crucial role in the current management system.
By combining these core skills with targeted studies in sustainable innovation and technology management, students are empowered to address complex challenges and create solutions that advance both environmental goals and technological progress.
Moreover, students gain hands-on experience by applying their knowledge to real-world scenarios through practical projects and industry collaborations. This approach ensures that they are well-prepared to capitalise on entrepreneurial opportunities in a dynamic market, ready to lead in both sustainable and tech-driven ventures.
How does FOSTIIMA’s alumni network contribute to the success of current students and recent graduates?
Our Indian Institute of Technology - Indian Institute of Management (IIT-IIM) alumni network plays a pivotal role in contributing to the success of current students and recent graduates. From the outset, students are connected with alumni who specialise in various domains, providing them with valuable insights into industry trends and emerging opportunities. Alumni regularly engage with students, where they give lectures about the current scenario of the industry, share their experiences, and also offer them guidance on where the most promising career paths lie, including within their own companies.
This interaction becomes particularly intensive in the second year as it helps students prepare for the professional world and also gives them clarity about how the industry works and how they should transition into it. This continuous support and mentorship from our alumni network play a crucial role in shaping the future success of FOSTIIMA students.
Are there plans to increase funding opportunities or resources for students with tech skills who are looking to launch new start-ups?
We are indeed focused on increasing funding opportunities and resources for students with tech skills who aspire to launch new start-ups. We are well-connected with private equity funds, and if a student presents a promising opportunity, we actively facilitate connections with these investors.
Our approach goes beyond just funding; we guide students in maturing their ideas into viable business propositions. This includes mentoring them on how to develop a comprehensive business plan, crafting an effective pitch, and presenting it to potential investors.
Our goal is to ensure that our students are not only equipped with the technical skills but also the business acumen needed to successfully launch and grow their start-ups.
