Colleges are increasingly lending start-up capital to students wishing to start new ventures of their own

The incubation programmes in colleges have led students to start their own companies while studying. While some colleges are helping students with their initial capital investment, many others have programmes training them to set-up companies with zero capital. "We provide assistance to students, so that they become entrepreneurs, and not just employees," says Saket Jalan, chief mentor, Jain Centre for Entrepreneurship.

In MS Ramaiah College, they conduct a three-day workshop. "The students who take part in these workshops, come forward to attend the Business Skill Development Training programme that is conducted either during the vacations, or after college hours" says Rekha, SK Centre for the Advanced Training and Continuing education. "Students who are really keen, are given the necessary guidance and help to start their own ventures," she adds.

In this year's batch, there are 10 students who have started their own companies in Ramaiah college. Vijay Madhu, a final-year mechanical engineering student, has started a company called Lounge Diary. He is planning to create a website, www.loungediary.com and is almost done with its design. "I wanted to create a platform, which could be accessed by just receiving an invitation from an existing user of Lounge Diary," says Madhu.

In the Jain group of Institutions, first, an idea is presented to the chairman and if it is approved, the business plan is submitted to the board in the form of a presentation. Once the board approves the plan, the capital is provided and the company is incubated. "A company CEO is then formally welcomed by the board and other members," says Saket Jalan, chief mentor, Jain Centre for Entrepreneurship. Abhishek Jalan, a final-year MBA student, has started Café Gossip, a cafeteria, on campus. His family and college helped him with the initial investment. "The idea was to make the environment of the college cafeteria similar to that of cafés outside. Now I want to expand my business," says Jalan.

In Jain College, the students can set up a company, with assistance from the college, even after they graduate. However, in that case, the college will become a shareholder in the venture.

 Himanshu Doshi, an IT graduate from the Jain Centre, was inspired by the speeches of his chairman. After graduating, he and his friend Abhishek Agarwal, decided to start a bulk message company called Insight Consultancy Services. It is doing well, with clients including Maruthi Developers, Brigade Group, and Lifestyle. Another student, Dia Jain, with the help of her college, started a company providing hostel facilities, while doing his MBA.

There are also students who have set up companies on their own, without any help, and have been successful. Sneha Raheja, a second-year student of Business Management at St Joseph's College for Commerce, did her internship with Quantum Leap, a dance school. She then started Sway, her own dance school. "I got the slots in Doodle Den that conducts activities for children. Initially, I started with Rs500, with only posters and five students. I taught them dance and now, I am trying to get professionals to teach these students," says Raheja. 

ELAN, the entrepreneurship and networking cell run by the students at St Joseph's, will be managing the college canteen and the book store for the next academic year.

Odeal D’Souza/ DNA-Daily News & Analysis Source: 3D Syndication