Entrepreneurship Development Institute of India (EDII), an acknowledged national resource Institute for Entrepreneurship Education, Research, Training and Institution Building, has enabled over 300 of its students to become successful entrepreneurs. EDII’s unique two years PGDM in Business Entrepreneurship (PGDM-BE) offers an innovative milestone-based learning initiative whereby every student can build their new enterprise step by step while studying at EDII itself.
Out of 427 students who have passed out of EDII’s PGDM-BE programme since 2008-10 batch, around 337 have either started their own enterprise or have joined their family business. Only the remaining 20% odd alumni of last several years have gone for a service career in the corporate sector or in academics and some for further studies.
Explaining the milestone-based learning initiative offered by the Institute, Dr. Sunil Shukla, Director at EDII said, “Milestone-based learning is introduced for students to enable them to get practical exposure to every minute step that is required to set up a new business even while they are pursuing their studies at EDII. Right from ideating, preparing a business plan, to how to form and register a new company and then how to start running this enterprise and managing various functions of marketing, finance, product/service development, etc. EDI also provides seed funding to successful milestone bonus point achievers for setting up their new venture.”
Dr. Satya Acharya, Associate Senior Faculty at EDII who heads the PGDM-BE programme added, “This course ensures that students harness their entrepreneurial knowledge, networking skills and abilities to set up own enterprise or join their family business to take it to newer heights. EDII also extends thorough mentoring support to help students start, progress and sustain a venture. With EDII’s own incubator CrAdle functional, students will have to additional option of pitching their start-up model here and may get selected. It is also to be noted that nearly half of the students who pass out of the PGDM-BE course go and join their family business. Here too there are many cases where the students start their own new business and do not join their family business.”
While, many of the alumni have used their training at EDII to successfully scale up their existing business, some have spin-off and started their own new ventures.
Chintan Sharma, who graduated from the institute in 2011-13 with a PGDM-BE, joined his family business in 2013. Today, he is the CEO & Director of Narmada Toyota, one of the leading Toyota dealership in the state of Gujarat which has sold more than 4,500 cars and serviced more than 40,000 cars till date. Chintan, who specialized in the family business area, attests to the program’s practical and creative approach that has helped him professionally to take sound business decisions and expand his operations.
Taking cue from the program’s on innovative and hands-on methods of learning, Nakul Mistry, Director of Scientific Clock Manufacturing Co. and a PGDM-BE 2010-2012 alumnus, took his family business of manufacturing wall and tower clocks to another level. As a new blood in a 68 years old business, Nakul doubled the production capacity within a year. The support from EDII faculty, high standard of workshops and interaction with alumni and visiting faculty, helped him acquire practical knowledge to handle the business.
Nishank Shah, Founder and CEO of Duro Green and a PGDM-BE 2012-2014 alumnus, observed that there was no process in place for managing and treating waste generated from institutes, households, industries, corporate and other places at source. He sensed a business opportunity and decided to treat dry and food waste at the source. His enterprise is successfully churning wealth out of waste. Nishnak is today a well-known proponent of Swatchh Bharat Mission and is invited at various reputed forums to share his experiences.
Jay Meria, Founder & CEO of Muvr.in, from the 2013-15 batch, set up a technology-based logistic solution providing company. MUVR is a revolutionary approach that makes pickups and deliveries thoroughly efficient and reliable. Company has only 135 SCV owners on its platform when it started in June 2015 and a year later it has over 1600 SCV owners and gets 80% of its business from the commercial segment like retailers, wholesalers, traders, distributors and SMEs. The rest comes from households.
Mr. Gopal Bhuva, (PGDM-BE batch 2011-13) joined his family business ‘Ravim Polyplast India Private Ltd.’ which is engaged in manufacturing of plastic processing machinery. Started way back in 1978, Gopal was committed to contribute to his family business and grow it to the next level. With his efforts and support from the family he made an exemplary foray in the form of forward integration and this strategic expansion was established to cater to the diverse packaging needs of all industries by offering packaging solutions in form of PET/PP preforms, bottles and jars.
About EDII (www.ediindia.org)
Entrepreneurship Development Institute of India (EDII) is an acclaimed International Resource Centre facilitating all facets of Entrepreneurship Development. EDII’s mission is to be a catalyst in facilitating emergence of competent first generation entrepreneurs and transition of existing SMEs into growth-oriented enterprises through entrepreneurship education, training, research & institution building.
EDI’s mission has led to the emergence of several programmes under strategically planned centres to generate awareness, sensitise environment, strengthen institutional linkages and networking and impart training in specialised areas. EDII’s focus areas are: 1) Entrepreneurship Education & Research; 2) Micro Enterprises, Micro Finance and Sustainable Livelihood; 3) SMEs & Business Development Services; 4) Cluster Competitiveness, Growth & Technology; 5) Social Entrepreneurship & CSR; 6) Women Entrepreneurship & Gender Studies.
EDII is an autonomous and not-for-profit institute, set up in 1983, and is sponsored by apex financial institutions – the IDBI Bank Ltd., IFCI Ltd., ICICI Bank Ltd. and the State Bank of India (SBI). The Government of Gujarat pledged twenty-three acres of land on which stands the majestic and sprawling EDI campus. To pursue its mission, EDI has helped set up twelve state-level exclusive entrepreneurship development centres and institutes. One of the satisfying achievements, however, was taking entrepreneurship to a large number of schools, colleges, science and technology institutions and management schools in several states by including entrepreneurship inputs in their curricula.
In the international arena, efforts to develop entrepreneurship by way of sharing resources and organising training programmes, have helped EDI earn accolades and support from the World Bank, Commonwealth Secretariat, UNIDO, ILO, British Council, Ford Foundation, European Union, ASEAN Secretariat and several other renowned agencies. EDI has also set up Entrepreneurship Development Centre at Cambodia, Laos, Myanmar and Vietnam and is in the process of setting up such centres at Uzbekistan and five African countries. In recognition of its international achievements, the United Nations Economic & Social Commission for Asia and Pacific (UN-ESCAP), Bangkok, Thailand, has declared EDI as a ‘Center of Excellence’.