Development Centre (EDC) at XLRI, Prabal K. Sen Professor, Economics Area and Chairperson, EDC, XLRI

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1 Functioning of the Entrepreneurship Development Centre (EDC) at XLRI, Jamshedpur Prabal K. Sen Professor, Economics Area and Chairperson, EDC, XLRI

2 Introduction Having been established in 1949, XLRI is the oldest business school in India. The mission of the Institute, among other things, aims at encouraging entrepreneurship and social consciousness. It is against this background that the Entrepreneurship Development Centre (EDC) was set up as one of the centres of excellence within the institute with an object to promote entrepreneurship in Jharkhand and the rest of the country. Besides conducting research on the broad theme of entrepreneurship, the Centre organized short-duration training initiatives for existing and prospective entrepreneurs on different aspects of business. One such initiative held in the recent past was the Management Development Programme (MDP) on Imperatives for SSI Entrepreneurs in the Changing Global Scenario for the small and medium entrepreneurs of Singhbhum region of Jharkhand State. An agreement entered into between the Government of Jharkhand and XLRI in September 2007 provided a new impetus to the functioning of EDC with a renewed focus on promotion of entrepreneurship, particularly in Jharkhand State. While the agreement enjoined on XLRI on launching a one-year academic programme on entrepreneurship management, the Institute under intimation to the Government of Jharkhand initiated a six-month programme titled as the Post Graduate Programme for Certificate in Entrepreneurship Management (PGP-CEM) in March 2010, with the intent to upgrade it to a one-year programme in due course. Cont.. 7/18/2012 Prof. Prabal K. Sen 2

3 Cont.. As indicated in our letter dated December 24, 2009 addressed to the Director, Industries, GoJ, to start with, we had deliberately designed a 6-month module on entrepreneurship management as such programmes being innovative in nature need to be pre-tested carefully, fll with ihdue regard to all related aspects before they are formulated for a longer duration. Based on our experience drawn from the initial rounds of such programmes we intend to roll out a one- year programme (as envisaged in the Agreement referred to above) in due course. Two rounds of the programme having been completed, the third-round is expected to be rolled out in September /18/2012 Prof. Prabal K. Sen 3

4 About PGP-CEM 7/18/2012 Prof. Prabal K. Sen 4

5 About PGP-CEM Salient features of the PGP-CEM are indicated below: Programme Objective PGP-CEM has been designed to provide competency-based education to the eligible candidates with a view to promoting entrepreneurship in Jharkhand and rest of the country. The Programme is pursued in such a manner as to encourage critical and lateral thinking and integrate theory with practice. The ultimate objective e is (a) to create effective e and successful entrepreneurs out of those who have no exposure to this vocation, but have an inclination and desire to turn into such entities, and (b) to enhance the skills of those who are currently functioning as entrepreneurs. Curriculum Apart from a project formulation component, which constitutes an integral part of the Programme, a number of courses covering conceptual and operational aspects related to execution of entrepreneurial ventures (totalling around 360 contact hours) are included in the Programme. The courses are listed below. List of Courses 7/18/2012 Prof. Prabal K. Sen 5

6 Pedagogy The modus operandi adopted for achieving the above objective consists of Class lectures - which may draw on Indian and global cases wherever necessary. Individual and group assignments, Project formulation exercise to be carried out under the mentorship of a member of the faculty Assessment, Evaluation ation& Certificates Method of assessment and evaluation of performance of candidates in each of the courses included in the curriculum are decided by the faculty member conductingcting the respective course. On successful completion of the Programme and based on the overall performance across courses, the Certificate in Entrepreneurship Management (CEM) is awarded by XLRI to the eligible candidates. 7/18/2012 Prof. Prabal K. Sen 6

7 Faculty for the Programme The courses included in the Programme Curriculum are conducted by XLRI s faculty known for their research and/or hands-on professional experience in relevant areas and disciplines. Guest Lecturers from the industry/profession i are invited i in certain cases to sharpen the focus of the Entrepreneurship Development Centre on bringing inputs from the ground to bear on the Programme. Eligibility for Aspiring Students To be eligible to apply for admission into the Programme, the candidates should i. be at least Graduates from any recognized University ii. have interest in entrepreneurship-social il or commercial- il even though h currently not functioning as entrepreneurs iii. possess basic computer literacy iv. Although no age bar has been stipulated, it is expected that the candidates applying for PGP-CEM are physically and mentally fit to go through a typical XLRI Programme v. Eligible applicants will be subject to a process of Personal Interview and Group Discussion, if necessary, or final selection of candidates for admission into the Programme vi. Being called for the Personal Interview and Group Discussions etc., will not necessarily entitle a candidate to admission into the Programme 7/18/2012 Prof. Prabal K. Sen 7

8 Reservation 50 % of seats are reserved for students from Jharkhand. Reservation norms stipulated by the Government will apply for this category of candidates. Course Fee Course Fee has been fixed at Rs 55000/- Only Scholarship Limited number of scholarships are made available for meritorious but poor candidates of Jharkhand from among the SC/ST communities based on meritcum-means criteria decided by the Institute. 7/18/2012 Prof. Prabal K. Sen 8

9 Composition of Students at the Time of Admission according to Educational Qualification No. of No. of S.No. Nature of Qualification Students (2010) Students (2011) 1 With Professional Qualification, like Engineering, law, Pharmaceuticals CA 20 (40) 15 (29) 2 Post Graduation (other than in 14 (28) 15 (29) professional disciplines) 3 Graduation, out of which 16 (32 ] 22 (42) Total 50 (100) 52 (100) Note: While free figures indicate numbers of graduates, the figures in brackets indicate % to total of the respective batch. 7/18/2012 Prof. Prabal K. Sen 9

10 Outcome of fthe Programme Graduates ates who are in business 37 (74) 44 (84.7) 2 Graduates who are otherwise employed 10 (20) 2 (3.8) 3 Pursuing higher studies 2 (4) 2 (3.8) 4 No information 1 (2) 4 (7.7) Total 50 (100) 52 (100) Note: While free figures indicate numbers of graduates, the figures in brackets indicate % to total of the respective batch 7/18/2012 Prof. Prabal K. Sen 10

11 Domiciliary Status of Students Jharkhand 27 (54) 30 (58) Non Jharkhand 23 (46) 22 (42) Total 50 (100) 52 (100) Note: While free figures indicate numbers of graduates, the figures in brackets indicate % to total of the respective batch 7/18/2012 Prof. Prabal K. Sen 11

12 Activities other than conduct of PGP-CEM Apart from operating the Post Graduate Programme for Certificate in Entrepreneurship Management (PGP-CEM), EDC is engaged in a number of other activities including notably the following: Short-duration Training Programmes Short-duration training programmes in the nature of Management Development Programmes (MDPs) are organized for entrepreneurs as well as other stakeholders in relation to promotion of entrepreneurship in Jharkhand and rest of the country including banks and financial institutions. A four-day short duration training programme on Financial Inclusion, Social Banking and Microfinance was for instance organized during the period November 22 to 25, The programme was coordinated by Prof. Prabal K. Sen and was attended by 19 participants from across the country. Another such programme is planned to be organized shortly for retail trader-members of Singhbhum Chambers of Commerce on the problems and prospects of small traders in the context of the changing global and national scenarios. 7/18/2012 Prof. Prabal K. Sen 12

13 Creation and Dissemination of Knowledge vis-à-vis Entrepreneurship EDC is engaged in carrying out research, publication of papers and participation in national and international conferences. The Chairman, EDC has for instance Prof. Prabal K. Sen, Chairperson, EDC, for instance, presented a paper on Microfinance in India: Some Key Issues at the Western Economic Association (WEA) International Conference held at San Diego, CA, USA on June 30, 2011, and was invited to deliver the keynote address at a National Seminar on Women Empowerment and Microenterprise organized by the Graduate School College for Women, Jamshedpur on November 28, Also on invitation from the NS Patel Arts College, Anand, Gujarat, the Chairperson, EDC delivered a talk on Social Entrepreneurship and Social Work at a special seminar held in the Department of Social Work of the said College on February 07, A Symposium on Entrepreneurship was organized for the students of PGP-CEM 2011 on November 17, 2011, where practicing entrepreneurs from Jharkhand were invited to share their experience with the students. In order to familiarize the students with problems and prospects of social entrepreneurship in India, the CEO of a well known NGO (viz., Seva Mandir headquartered in Udaipur, Rajasthan) was invited to address the students of the programme. 7/18/2012 Prof. Prabal K. Sen 13

14 Support to Students for participation i i in National and International lbusiness Plan Contests Students of PGP-CEM are encouraged to participate p in Business Plan competitions held at national and international levels. Two students of the programme have been shortlisted for the final round in the Oxford University-Said Global Entrepreneur Challenge (SGEC). Two other students were awarded Certificates for successful participation in the Global Entrepreneurship Summit held at IIT Kharagpur in January, Encouraging Students to be Immersed in Social Initiatives Three students of PGP-CEM 2011 applied for the Prime Minister Rural Development Fellowship (PMRDF) scheme, which has been launched by the Government of India for attracting talent to be associated with rural development initiatives in the Left-Wing Extremism affected districts. One of these three applicants, namely, Ms Sweta has been selected for the award of Fellowship under this national programme and is currently attached to the District Administration of Ramgarh in Jharkhand. 7/18/2012 Prof. Prabal K. Sen 14

15 Support to Students of programmes other than PGP-CEM too in Conceptualization and Design of Entrepreneurial Ventures Support is provided in conceptualization and design of entrepreneurial ventures of students from across different programmes of the Institute. One such student from XLRI s flagship Business Management programme was provided support to launch an innovative entrepreneurial venture in the area of generation of biodiesel from Pangamiya seeds. The Chairperson, EDC had approached the Hon ble Chief Minister, Bihar to extend support to this enterprising ii youth under MGNREGA. He has since expanded ddhis area to horticultural development in general. He intends to expand his activities in Jharkhand too for which he has had initial round of discussions with the Development Commissioner, Jharkhand. 7/18/2012 Prof. Prabal K. Sen 15

16 7/18/2012 Prof. Prabal K. Sen 16

17 Thank You! ENTERPRENEURSHIP DEVELOPMENT CENTRE, XLRI JAMSHEDPUR 7/18/2012 Prof. Prabal K. Sen 17

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