Dolly Davda, a first year management student of Jamnalal Bajaj Institute of Management (JBIMS), and her team had spent two months researching their paper on rural banking.
They were waiting to present it to industry heads on Monday, the first day of Strategym 2010, the school’s annual business convention, but Bank of India picked up their paper much before the presentation.
This is the first time Bank of India has taken up a student paper.
“We were pleasantly surprised that the paper was taken up even before we could meet people from the bank and were thrilled that they liked our idea. Our paper was based on research we had done in rural areas in Maharashtra and Haryana,” said Davda. Their paper aims at making banking facilities more accessible in rural areas.
The last two years has seen companies pick up B-school student ideas for implementation at various competitions held in the city.
“This trend has become more prominent in the last two years and it benefits both students and companies.
For students, it is great exposure and experience that will help them with final placements and for companies it is feasible solutions backed by good research on a platter,” said Stephen D’Silva, director, JBIMS.
At Narsee Monjee Institute of Management Studies (NMIMS) last year four papers prepared by students for competitions were taken up companies and this year already one has been picked up. Companies such as Onida, Tata Consultancy Services and Kingfisher Airlines have implemented papers of students of NMIMS.
“Apart from looking great on our CVs, it is very motivating when people from the industry think our work is good enough to be implemented. Academically we do a lot in college, but to get an industry viewpoint is also very important,” said Harsh Parekh, a student from NMIMS.
Parekh and his team worked on a paper in the healthcare sector, which aimed at creating a directory of healthcare information for a place using mobile phones as the medium.
It was been picked up by Mega Ace Consultancy last month and is in the testing stage.
For companies it is about fresh perspective.
“A lot of work has been done on financial inclusion but each model has its own drawbacks. New, effective ideas can come from anywhere and students always have fresh concepts,” said AP Ghugal, a senior manager at Bank of India.