From Idea to Reality- Navigating the Startup Process as a Student

“New Startups embody the creativity, the innovation of young people, and for me, it was and is a very worth while experience to interact with them”

Ratan tata

The World today is evolving and with that even the thinking of individuals is racing at a gigantic speed. Innovativeness and creativity are skills that one can witness in today’s younger generation. The entrepreneurial spirit is also on the rise. With the consistent change and development happening, it is very important that young minds are guided & directed in real time so that they can convert their ideas into reality.

Importance of nurturing entrepreneurial mindset in Generation Z:

As academicians, we get the privilege to connect with many such creative minds. Interacting with them, one can feel the flow of energy and the light of enthusiasm. Today, more than ever, this generation Z is exploring ideas that could be converted into a workable venture. They have big dreams, the right mindset, and a lot of enthusiasm to achieve something. Indeed, they are highly motivated by their need for achieving success. What is actually required is just correct navigation. Educational Institutions can play a very important role in this journey of development & growth. Students at this stage can be molded and made ready for challenges. Hence Institutions should focus in shaping their behavior, perception & attitude.

Key traits and skills required to become a successful entrepreneur:

To unleash their esoteric abilities and embark on their journey as an entrepreneur, Institutions & academicians can help them through teaching pedagogy adopted in the courses in the form of Entrepreneurial Management, Essentials of Entrepreneurship, continuous discussion on emerging startups, expert talks by the fraternity belonging to Industry, exposure in the form of activities such as incubators, E-Labs and competitions can be a part of the curriculum for keeping their thought processes ignited.  Students learn a lot through experience and these experiential learnings definitely help them in facing real-world challenges. They get to learn many aspects through practices such as time management, financial management, inventory management, multi-tasking, crisis management, and people management, which upskills them in various aspects and makes them ready to face any challenges and hence embrace success. Students can leverage resources in the form of a library, experts from the sector, and guidance of mentors to demonstrate the feasibility of their venture in alignment with the need of the hour.

Mindset shift from job seeker to job providers:

A concrete idea, with a solid business plan, outlines their startup goals and further, complete market research validates the viability of an idea that is still in the incubation stage. The startup process could be daunting, but the right strategies at right time with the right resources definitely give students an edge in connecting the dots and living their dreams in the form of new initiatives. Timely guidance & mentoring will help in empowering them with all the skill sets required for smooth sailing.  These initiatives will enable young minds to use all the resources available to them diligently. This will shift their mindset from Job Seeker to Job Providers. This way we can contribute to shaping not only the minds of young budding leaders but also a robust economy. “An economy which is self-sufficient and independent.”

Authored Article by:

Dr. Shuchi Gautam, Deputy Director –Thakur Global Business School & Prof Ritu Kashyap, Faculty-Thakur Global Business School, Kandivali, Mumbai.