When you look at the evolution of civilizations across the world, you will observe that most radical advancements were triggered by a crisis. Wars forced us towards technological development; epidemics gave rise to a whole new health care science and system, the financial crisis triggered in the US gave rise to a progressive startup culture and gig economy. Similar will be the case with the pandemic we are facing today, though the domino effect of COVID-19 has shuttered or slowed down various economic establishments, entrepreneurship can still be a smart choice for the young go-getters. The opportunities might look few right now, but as the economy reshapes countless new avenues will open up to explore. So rather than waiting or contemplating about taking up a job, you now have the opportunity to create your own future and build something that you can drive with passion.
In times like these, when linearity in thinking and prediction often fails to drive success, entrepreneurs need to be trained in skills like Critical Thinking, Effectuation, Creativity and Innovation to build sustainable businesses. The PGDM in the entrepreneurship course at MIDAS can thus be your stepping stone towards launching your own business or growing your family business. Established on the philosophy that “Entrepreneurs are made, not born”, the program is inspired by international research and combines experiential and theoretical learning. During his visits to universities abroad and at home, Prof. Parag Shah, the Founder of MIDAS realized the unique challenges, students in India have to face while pursuing a business idea or even joining their family business. To address this, he wanted to create entrepreneurship programs which offer the best of international academic knowledge along with practical learning of the Indian economic scenario. And for the first time, an entrepreneurship college in India is teaching these key skills under one program.
Incorporating Effectual Reasoning and Lean Startup philosophy the program aims at assisting the students in learning the ropes of entrepreneurship, start with an idea, explore its feasibility, develop a minimum viable product (MVP), prepare a business plan and commercially launch the business. In case of students who want to join their family business, the program helps them in understanding their enterprise better, identifying their role in the business by taking the key members in confidence and navigate their way into joining the business with clear goals and responsibility. This is achieved with a structured approach which is executed in 5 stages, namely Idea Generation, Entrepreneurial Fitment, Idea Validation, Business Incubation and Pitch to Investor.
Every business begins with an idea, while ideas keep cropping up all the time, not every idea can be turned into a viable business. So rather than waiting for the eureka moment, the program with its modules like Creativity, Critical thinking, Design Thinking, Creative writing etc. triggers the students to explore various avenues and generate a range of business ideas. Based on the entrepreneur’s personality strengths and passion, the most suitable business idea is selected and validated in terms of its feasibility.
The holistic nature of the program helps develop an entrepreneurial mindset, with which the student is not just ready to launch his first business but is ready for life. This is achieved by a combination of classroom, practical and experiential learning. Our entrepreneur coaches strongly believe that entrepreneurship cannot be taught by just learning concepts and reading books, it’s very interdisciplinary and experience-based learning. Creating a culture and environment that fosters entrepreneurial thinking has always been the aim of our Coaches and team members. During the program, the students also get to visit a range of commercial establishments, attend guest lecturers of eminent entrepreneurs, network with prominent members of the startup ecosystem, connect with our diverse alumni and also pitch their business idea to investors.
Geared with all the knowledge of running a business and a great new idea, the students begin the most crucial part of their journey, “Business Incubation”. With help from their Mentors, Coaches, Industry experts, vendor panel, you will work on prototyping your product or service and doing a pilot launch of your business. Students joining their family business will actively start working in the business with clear roadmap and goals. The real testimony of the program’s success is our alumni who are successfully running their startups and the ones taking their family business to the next level.
Crisis can be a unique opportunity to change your path.
To explore new opportunities,
to help you become the person you were meant to be.
If entrepreneurship is your calling, it’s definitely the time to take the leap of faith and passionately build something that lasts. And at MIDAS, we not just hone you to be better leaders, entrepreneurs but also handhold you through this life-changing journey.