Shaping Young Minds for Future

Skill set

Dr Muhmmad Amin Malik

amin_malik_ku@hotmail.com

For a teacher of science like me, understanding the business concepts like entrepreneurship, startups, business models and incubation can be challenging. For many, the terms seem like jargon, which bounces off their heads without leaving any impression. Many even stumble to correctly pronounce ‘entrepreneurship’. If professionals face such difficulties, what can be said about the students from traditional academic subjects who are part of the audience listening to such lectures from experts? They are not just fashionable words, but powerful tools that shape our world. We are living in different times. The rapid advancements in technology, the rise of artificial intelligence, digitalization and the subsequent automation, the conventional jobs are shrinking, further aggravating the problem. The unemployment has become a very severe issue with graduates, up to PhD holders struggling to find employment.

Today, the true wealth of nations is not only measured by the abundance of natural resources but also by their ability to generate new ideas, foster innovation and encourage entrepreneurship. In this respect, success depends less on formal degrees and more on creativity, critical thinking, and practical problem-solving skills. In this evolving environment, when the boundaries of science, technology and business are rapidly converging, it is imperative to embrace a new mindset and appreciate the value of knowledge creation. The higher education institutions under NEP-2020 have to come up with practical solutions to address the issue. It is important to understand the fundamental business concepts and cultivate the ability to translate ideas into practical solutions that address real-world problems.

A vast body of knowledge, principles, and phenomena has already been discovered by scientists through research, experimentation and observation, shedding light on natural world and human affairs. Innovators imagine what is possible; the engineers make it practical by turning ideas into new products, services and solutions. Together, they solve problems that improve our quality of life and the process also generates employment opportunities. Einstein would never have thought that one day his General Theory would be crucial for a pinpoint accuracy of the GPS system. It was the job of engineers and innovators who applied his ideas in technologies like GPS. Entrepreneurship is a broad concept centered on transforming ideas and innovations into business ventures that disrupts markets. Its main focus is on creating something new and meaningful that solves problems and improves lives. The Entrepreneurs identify gaps and opportunities in the market by taking risks; the profit follows naturally as a result. Fundamentally, our work should not only earn money for survival, but also contribute to society and add value to the lives of others. The great Edison lit up the world with his inventions, inspired humanity with his innovations and as an entrepreneur built successful businesses to make these innovations accessible worldwide.

A startup is a form of entrepreneurship. In fact, every startup is entrepreneurship, but not vice versa. Startup is typically new, innovative, tech-driven, fast-growing, and aimed at reaching a wider community. If I identify a gape and open a medical shop offering 20% discount at a place where we don’t have any such shop, it is an Entrepreneurship. If you add your shop online delivery, telemedicine tie-ups, subscriptions-based medicine, then it becomes a startup. Ola Cabs-an app-based taxi booking system, replaced the old way of hailing taxis. It is a startup because it leverages innovation, technology and scalability that disrupted the traditional transport method. A traditional tailoring shop now offers doorstep pickup/delivery; along with customized designs, is an entrepreneurship. If he adds an app/website where customers can customize clothes virtually, place online orders and if you expands this service beyond the local town to many cities, it becomes a startup. If an innovative idea scales globally, attracts investors/designers/delivery agents and generates large employment, it evolves into a big business. Flipkart started in 2007 as an online bookstore with cash on delivery and grew from a startup into a multinational business.

Through the Institution’s Innovation Council (IIC) at Sheikh-ul-Alam Govt Degree College, Budgam, over the past few months, we conducted many programs on entrepreneurship, innovation, Mission Yuva, and other employment-generating initiatives with agencies like J&K Entrepreneurship Development Institute (JKEDI), National Institute of Electronics and Information Technology (NIELIT), National Institute of Fashion Technology (NIFT), polytechnics, ITIs and other government/private agencies. We also organized two successful recruitment drives in the campus. Recently, we conducted a bootcamp with JKEDI to evaluate and shape up the ideas of students and ignite their entrepreneurial spirits. Experts from diverse fields engaged with students on the feasibility of innovative ideas in the local context, shared insights on entrepreneurship initiatives, real-world challenges, and discussed J&K Startup Policy and various other schemes. Students were introduced to the concepts on resource mobilization, financial planning, customer-centric thinking, and various ‘dos and don’ts.’ They were inspired by success stories-one of an entrepreneur who grew a small mobile sales and service shop into a leading outlet with an annual turnover of `50 lakh, and another who built eco-friendly wooden pellets, creating jobs while addressing environmental challenges.

The bootcamps on entrepreneurship, innovation, and start-up support systems play a crucial role in nurturing creativity and problem-solving skills among students. While the entrepreneurs share their journey, the students are encouraged to think beyond conventional boundaries with experts guiding them to refine and expand ideas into actionable ventures. With students in our institutions now having access to quality lectures and abundant resources from countless online platforms, the role of the teacher is shifting from a transmitter of knowledge to a facilitator of learning. The education now extends far beyond the routine classroom lectures. The on-site programs like bootcamp provides hands-on, face-to-face engagement, giving students practical knowledge and helping them prepare for real-world challenges that neither online resources nor regular lectures can offer. While these initiatives generate considerable enthusiasm among students, much work needs to be done refine their thoughts who usually come up with immature, impractical, or already implemented ideas. The students need to be told that entrepreneurship, startups and innovation are not just popular expressions, but powerful tools to connect knowledge creation with its real-world application.

Kashmir has immense potential for entrepreneurship because of its unique geography, culture, and resources. The sectors like agriculture, horticulture, tourism, handicrafts, IT & Commerce, health services, renewable energy, waste management, handicrafts, and floriculture provide a rich canvas for innovative ventures. With the growing impact of climate change and the global focus shifting on sustainable practices and green technologies, there are vast opportunities to innovate eco-friendly products and other environment-centric solutions to generate employment. To tape these opportunities, the young minds are to be trained to think creatively, nurture feasible ideas and explore new avenues for sustainable livelihood. The Higher educational intuitions have to provide platforms where the students can interact with Innovators and Entrepreneurs. A culture of entrepreneurship, innovation and self-reliance, supported by government schemes and private investment is the only ray of hope to reduce unemployment and dependence on government jobs. The future belongs not just to those who seek jobs, but to those who are prepared to create them.

The author is a college principal.