The batch of 2009 at the Indian School of Business, Hyderabad, has a new job opportunity — setting up companies to improve basic infrastructure in the rural sector.
Global IT major Google Corporation and eBay have given ISB $17 million to start the social entrepreneurship project for providing solutions to the infrastructure problems in rural India.
According to ISB deputy dean Ajit Rangnekar, under the project, the school will develop models to provide low-cost housing, alternative energy, solutions to water and healthcare problems, and to improve the environment in rural India. Once the solutions are found, while working with 450 students in the 2009 batch, the school will pump in the money given by the US majors to set up companies to implement these projects.
Talking to reporters at the announcement of the school’s 2008 batch placements, Rangnekar said the school was conscious of its social responsibility. “Many of our students have left high salaries to work in rural India. Our latest project is also a step in this direction,” he said.
One of the major focus areas of the project would be to provide employment opportunities to the rural poor, while finding solutions to the problems they face. “Very less work has been done on low-cost housing. Even the middle class cannot afford present costs of new houses. Low-cost homes could be a solution to this problem,” Rangnekar said.
The deputy dean also said ISB has been getting a lot of students from socially-deprived sections and it has never refused admission to anyone because of lack of funds.