“Education is our passport to the future. For tomorrow belongs to those who prepare for it today.”
There has been a three-fold increase in the number of educational institutions over the past decade. But the sad part is with an increase in the level of education, the unemployment rate has also increased. What good does a traditional path do when we keep repeating our mistakes of not grabbing every opportunity that comes our way, no matter how early it comes. Entrepreneurial skills have indispensable takeaways from effective communication to self-sufficiency, but the question is how can schools tangibly help in developing these skills in ambitious young students at a nascent level?
1. Schools can set up Angel funds to invest in feasible innovative ideas of students thus giving them the head start they need. This fund will consist of an investment amount kept aside by the school each year for funding ideas. By doing so school will be giving students access to platforms and facilities through which ideas can be submitted, shared, developed, prototyped and piloted.
2. Schools will be providing opportunities to discover new solutions, experiment, refine and validate solutions, and empower young minds to present their ideas and utilise the collective wisdom to validate and refine ideas.
Benefits To Students
• The students will get real time experience that will already put them a step ahead in any eco-system they are part of, as they will be driven to think critically, take initiative, ponder over flexibility & adaptability as well as communication & collaboration.
• These young minds in business will learn the art of revenue generation at an early stage thus developing the capacity to move forward with a decision despite inevitable uncertainty and challenges.
• An emphasis on enterprising skills along side the given extracurriculars such as sports, dramatics, debate etc. would be useful in making crucial decisions about finance, expectations, client coordination etc. in any stage of their life.
• There will be healthy competition among students as they will be given the power to explore within a safe space created by their own school.
Benefits To Schools
• Schools will have assets on its hand given that these unique business ideas may have the potential to do extremely well in the future.
• As modern schools look for ways to innovate their educational offering, this is a new and unique way of doing so, as they are helping students to capitalize on their education while being in school itself thus adding to the reputation of the school in the truest sense.
• In the long run, Schools will benefit from the skilled and niche alumni network created as a result of their initiative which will in turn make sure that this initiative is sustainable and long lasting by bringing the beneficiaries to further a network that helped in their growth in the first place.
While students are challenged through structured ideation efforts around specific topics, themes, or problems, and rewarded for taking smart risks in their pursuit of innovation, school can become the reason for a strong foundation of innovation and entrepreneurship where aspiring entrepreneurs successfully incubate high-impact ventures.