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PGPEX-VLM in Entrepreneurship at Indian Institute of Management Calcutta
Kolkata, West Bengal
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About the Specialization
What is Entrepreneurship at Indian Institute of Management Calcutta Kolkata?
This Entrepreneurship focus within the PGPEX-VLM program at IIM Calcutta focuses on cultivating visionary leaders who can drive innovation and new venture creation, particularly within the manufacturing sector. It addresses the growing need for entrepreneurial thinking in Indian industries, emphasizing strategic leadership, product development, and technological innovation. The program is distinct in integrating manufacturing expertise with management acumen to foster enterprise.
Who Should Apply?
This program is ideal for experienced engineering and technology professionals seeking to transition into entrepreneurial roles, launch their own manufacturing ventures, or lead innovation units within large corporations. It attracts individuals with 4.5 to 10.5 years of experience looking to upskill, gain leadership capabilities, and apply strategic entrepreneurial thinking to complex industrial challenges in the Indian market.
Why Choose This Course?
Graduates of this program can expect to pursue India-specific career paths as entrepreneurial leaders, innovation managers, startup founders in manufacturing, or strategic consultants. While specific salary figures vary, alumni often achieve significant career growth. They are well-positioned for leadership roles in manufacturing firms, technology startups, or as independent entrepreneurs, contributing to India''''s ''''Make in India'''' initiative.
Student Success Practices
Foundation Stage
Master Core Management Fundamentals- (Term 1-2)
Dedicate time to build a strong foundation in finance, marketing, economics, and organizational behavior. These are crucial for understanding business viability and market dynamics in any entrepreneurial venture. Participate actively in case studies and group discussions to grasp varied perspectives.
Tools & Resources
Harvard Business Review cases, Financial Times, Online courses on Coursera/edX for management basics
Career Connection
A solid grasp of business fundamentals is critical for evaluating startup ideas, preparing sound business plans, and effectively managing resources in a new venture or innovation unit.
Network with Peers and Faculty- (Term 1-3)
Actively engage with your cohort, leveraging their diverse industry experiences. Form study groups and participate in informal discussions. Seek mentorship from faculty members, especially those involved in entrepreneurship and innovation, to gain insights and guidance.
Tools & Resources
LinkedIn, Alumni connect platforms, IIMC campus events
Career Connection
Building a strong professional network is invaluable for future collaborations, mentorship, finding co-founders, and accessing funding or industry connections crucial for entrepreneurial success in India.
Develop a Design Thinking Mindset- (Term 2-3)
Embrace design thinking principles to identify problems, generate innovative solutions, and iteratively test ideas. This includes observing user needs, brainstorming, prototyping, and gathering feedback, which are core to product development in manufacturing.
Tools & Resources
IDEO Design Kit, Books like ''''Sprint'''' by Jake Knapp, Workshops on innovation
Career Connection
Cultivating a design thinking approach directly supports the ideation and development of new products or processes, making you adept at identifying market gaps and creating valuable solutions for Indian consumers and industries.
Intermediate Stage
Deep Dive into Innovation and IP Strategy- (Term 2-4)
Focus intensely on courses like Innovation Management and Intellectual Property Rights. Understand how to protect novel ideas and strategically leverage patents, trademarks, and copyrights for competitive advantage in the Indian context.
Tools & Resources
WIPO resources, IP India website, Case studies on Indian innovations
Career Connection
Mastering IP strategy is vital for securing competitive advantage for your startup or new product line, attracting investors, and preventing infringement in a dynamic market like India.
Engage in Industry Projects and Field Visits- (Term 3-4)
Actively participate in any live industry projects, consulting assignments, or field visits offered by the program. These experiences provide practical exposure to manufacturing challenges and entrepreneurial opportunities in real Indian business settings.
Tools & Resources
Company visits organized by IIM C, IIT K, IIT M, Internship opportunities, Industry association events
Career Connection
Practical exposure helps validate theoretical knowledge, builds a portfolio of applied experience, and opens doors for networking and potential entrepreneurial opportunities within Indian manufacturing firms.
Refine Business Model Development- (Term 4)
Work on developing robust business models for potential ventures, using tools like the Business Model Canvas. Focus on value proposition, revenue streams, customer segments, and partnerships relevant to the Indian market and manufacturing sector.
Tools & Resources
Business Model Generation by Osterwalder and Pigneur, Lean Canvas templates, Startup India portal
Career Connection
A well-articulated business model is fundamental for pitching to investors, gaining market traction, and ensuring the long-term sustainability and scalability of your entrepreneurial initiative in India.
Advanced Stage
Execute the Integrated Manufacturing Project (IMP) with an Entrepreneurial Lens- (Term 5)
Approach the IMP as a simulated entrepreneurial venture. Identify a real-world manufacturing problem, develop an innovative solution, create a detailed implementation plan, and assess its commercial viability and scalability. Focus on value creation and disruption.
Tools & Resources
Project management software, Market research tools, Financial modeling software
Career Connection
The IMP is a capstone that demonstrates your ability to lead complex projects from conception to execution, making you highly attractive for leadership roles in innovation or as a credible founder of a manufacturing startup.
Develop Pitching and Fundraising Skills- (Term 4-5)
Actively practice creating compelling pitch decks and presenting your ideas. Learn about various funding sources in India, including angel investors, venture capitalists, government grants, and crowdfunding. Seek feedback on your pitching style.
Tools & Resources
Pitch deck templates, Startup incubators/accelerators in India, VC/Angel investor databases
Career Connection
Effective pitching is crucial for attracting the necessary capital and talent to launch and grow a successful entrepreneurial venture in the competitive Indian startup ecosystem.
Build a Mentorship Network and Seek Industry Guidance- (Throughout the program, intensifying in Term 4-5)
Beyond faculty, identify and connect with experienced entrepreneurs, industry veterans, and mentors from the IIM Calcutta/IIT alumni network. Their guidance on market realities, operational challenges, and growth strategies is invaluable for navigating the Indian business landscape.
Tools & Resources
Alumni portals, Industry conferences, Startup mentorship programs
Career Connection
Mentors provide critical insights, open doors to opportunities, and help avoid common entrepreneurial pitfalls, accelerating your journey towards becoming a successful visionary leader or entrepreneur in India.
