- Prof (Dr.) Daviender Narang

It is high time, we realize the importance of inculcating critical thinking, problem solving abilities, promoting innovation and entreprenurial ventures among our students. In a new normal scenario, There is no denial to the fact that fostering entrepreneurial spirit would empower our youth and shaping the future to come. In India recent trends like the startup India, the Atal Innovation Mission focus on nurturing startups by providing funding, mentorship, and infrastructure. The National Education Policy (NEP) 2020 too emphasizes integrating entrepreneurship into the curriculum, promoting creativity and critical thinking among students. The policy endorses the development of an entrepreneurial mindset from early education, fostering skills like problem solving ability and adaptability.

In today’s fast changing global economy, entrepreneurship has become a key driver of growth and innovation. As economies transition from traditional models to knowledge based ones, there is an increasing need for educational institutions to prepare the next generation of entrepreneurs who will lead this transformation. A significant shift in policies, programs, initiatives is also being noticed in India towards fostering an entrepreneurial spirit. Although lately, but academicians, Industry experts, Government officials have understood the vitality of entrepreneurial education in nurturing a mindset that values innovation, risk-taking and problem solving. This would also help students understand the complexities of starting and scaling businesses. Moreover, entrepreneurial education encourages critical thinking, perseverance, resilience - skills that are transferable across industries. As the global economy becomes interconnected, students are trained to innovate and adapt to change will have a distinct advantage in the job market. The startup India initiative aims to boost the country’s startup system by providing various initiatives to entrepreneurs including tax exemptions, ease of doing business reforms and access to funding. The initiative fosters innovation by reducing regulatory hurdles, simplifying business registration processes and offering financial support to new ventures.

Among the Government’s several initiatives in the direction of promoting entrepreneurship spirit, the National Education Policy (NEP) 2020 has been a significant leap. It explicitly understands the importance of entrepreneurial education as a means to drive national growth and innovation. The policy advocates for a holistic approach to education that goes beyond traditional academic discipline. In this context, the article also examines the effective methods for teaching and fostering entrepreneurial innovation, including startup ecosystem strategies.

Integrating entrepreneurship across curricula:

The Higher Education Institutions (HEIs) have started including entrepreneurship education in their curricula. Subjects like Creativity and Innovation, Innovation and Entrepreneurship are now very much part of the curricula in MBA stream. There is an increasing awareness towards creating innovation hubs and incubation centres withing educational institutions. These centres would provide students a platform to work on their entrepreneurial ideas, access mentorship, and receive funding. Collaboration between educational institutions, industry experts, and startup ecosystems is encouraged to create a more conducive environment for innovation.

Encouraging Problem Based Learning:

The teaching curricula is also promoting problem based learning where students are encouraged to address real world issues through innovative solutions. Through case study and industry based examples, the curricula makes efforts to provide a hands-on leaning experience. Academicians are being encouraged to incorporate case studies of successful startups from both India and around the world.

Internships with Start-ups:

Students are being encouraged with opportunities to work directly with startups - either through internships, hackathons, or mentorship programs which help them gain firsthand experience in entrepreneurship. These experiences give students a deeper understanding of how startups operate and what it takes to succeed.

Networking and Exposure:

Hosting events such as entrepreneurship conferences, workshops, and networking sessions can connect students with industry leaders, investors, and successful entrepreneurs. These interactions allow students to learn from real-world experiences, build connections, and gain insights into the startup ecosystem.

To bring a change in the mindset of people, it can be said that there has to be collaborative effort once we need to see a significant shift. Although the combination of government initiatives, educational reforms like the NEP 2020 has set the foundation for fostering a new generation entrepreneurs in India, the educational institutions are the one who can implement the policies effectively. When India aspires to be a Vikshit Bharat while becoming a job creator, not just job seekers, the role of educational institutions become more important than ever. The nation's commitment towards nurturing entrepreneurial talent can only be possible throught its education system and effective teaching methods.

(The author is Jaipuria Institute of Management, Ghaziabad)