B-schools assist student-entrepreneurs
- Business Standard | 3rd March'09

While venture capitalists (VCs) are reluctant to fund several entrepreneurial ideas this year, a few of the country's B-schools are helping student entrepreneurs to go ahead with their own ventures by providing seed funds, mentorship and using the alumni network to raise funds and get in touch with useful contacts.

While many B-schools and IITs have introduced deferred-placement-policy, which enables students to take a break from placements for a maximum period of two years and even come back for it in case the venture does not kick off, students, on the other hand, have been making progress with the funds provided by respective institutes and alumni networks.

At S P Jain Institute of Management & Research, first-year student Praveen Gera plans to start a venture on manufacturing auto-ancillary parts made from carbon fibre, which is expected to ensure longer life with smooth and durable texture. "Around Rs 1.3 crore is the capital required for this project. There are four of us involved in this project and we intend to opt out of placements next year to pursue this project. Our institute helps students with seed fund of up to Rs 20 lakh," Gera said.

Source: http://www.businessstandard.com/india/storypage storypage.php?autono=350615