Management students now have a new chapter added to their curriculum, and a very unique one.
Taking a cue from the rising number of layoffs across some startups this year, top business schools have a friendly advice for students opting for entrepreneurship.
Colleges are now devising new curriculums to highlight the reasons for startup failures, along with extending initiatives such as chance of getting a corporate job later, or financial assistance for launching another startup.
Indian Institute of Management, Bangalore is drafting a new curriculum, including a course on entrepreneurship, as part of its mandatory courses, starting with the next academic year.
‘Look beyond startup success stories’ is the new philosophy of IMT Ghaziabad. The college has added a new chapter on ‘failure stories’, where students analyse the reasons for failures of popular startups in the recent past.
“Analysing the startup failure makes one a much better manager since he/she knows what it takes to succeed,” said Shalini Rahul Tiwari, associate professor, area chair, strategy, innovation and entrepreneurship, IMT, Ghaziabad.
According to Sabarinathan G, chairperson, NS Raghavan Centre for Entrepreneurial Learning (NSRCEL), IIM Bangalore, “Many students nudge startup plans due to the added cost of post-graduate education that they have to recover.” Hence, it is important for B-schools to educate students fully about the consequences of start-up failures
Delhi-based Faculty of Management Studies is allowing students to take placement holidays. “Under this initiative, students can pursue their startup ventures and in case the ventures don’t work out, they can come back within two years of passing out and opt for campus placements,” a FMS spokesperson said.