Launching 'Enterprise' - India's first business fellowship for undergrads

Many people have been asking us “What is the Enterprise Fellowship?” The simple answer is that it's a year long project based learning experience for undergrad students in Pune. Our team will select 20 dynamic youth from the applications received. This group of ‘Enterprising20’ will have access to their own office space for one year, which they can use before or after college hours. They can use the space to study, have meetings, work on projects, and even for meet-ups and entertainment. The E-20 will have access to 20 industry ‘Lighthouse’ mentors from different fields, expert workshops of various entrepreneurial subjects, sales masterclasses and career coaching sessions. Over a 12 month period, they will incubate a business or social project from scratch, and work with real money, real teams, real technology and real companies to bring a project to life. They will discover product ideas, develop prototypes of their idea, test their ideas in the market, makes pitches to a board of directors, do project planning, create marketing campaigns, involve volunteer teams, manage money and accounts, and make their projects a success. And then, they will shut down the project. The purpose of the fellowship is to empower these 20 ambitious youth with the ‘Entrepreneurial mindset' and prepare them for the future of business.

"Why a fellowship?", I hear you asking. Well then, you will have to bear with me a little.

Have you ever taken a look at some of the biggest companies in the world and thought to yourself “this is impossible for me”, or “I am too young”. Going by normal standards, you are absolutely right. Most of these companies took years of struggles and grit to get where they are today. But, you’d also be wrong. Every one of these companies started in a tiny little garage or room, with very little funds. They were started by someone who had an idea, and who without too much analysis, just started doing. They started working on their ideas. Do read on.

William S. Harley was just 21 years old when he made plans to build a small engine capable of powering a bicycle. The the next two years, along with his friend Arthur Davidson, they built their own motorcycle. They worked from a friend’s 10’x15’ wooden shed with the words “Harley Davidson Motor Company” scratched on the door crudely. The rest is history.

Michael Dell started Dell Computers while he was still studying at the University of Texas at Austin. He built the company from his ‘dorm-office’, and eventually went on the build the company full time. His initial investment was $1000 - given to him by his family. The rest is history.

Karsanbhai Patel used to make detergent powder in his garage at his home in Ahmedabad. He would then go door to door selling his hand made product. He gave a money back guarantee with every pack he sold. "Sabki ki Pasand Nirma!” happened. The rest is history.

Ingvar Kamprad began his career when he was just six years old, selling match boxes. His father gifted him a little amount of money when he turned 17, and with that he started a small business of selling furniture made by local manufacturers. The idea was that anyone should be able to afford stylish, modern furniture. IKEA was born. The rest is history.

Vishen Lakhani, at 27, started teaching meditation in the evenings and working at a day job in a tech firm. He landed up building a website with $700. That eventually turned in to Mindvalley, which is today an education investment group that invests and builds educations companies. Vishen is the future.

Gagan Biyani was getting bored at his job as a young consultant. He started a company to get instructors to start teaching online. He spent the first 6 months cold calling people and inviting them to be instructors. Today Udemy is one the largest e-learning platforms with huge backing from investors. Gagan his on to his next startup, Sprig, a dinner delivery service that aims to help people eat healthier and tastier. Gagan is the future.

What is one common factor amongst these people? No, its not that they were college drop-outs!

They were enterprising. They didn’t have resources, they didn’t have money, they didn’t have funding. What they had was an attitude that says “I dont know, but I will learn this. This is a problem and I’m going to solve it. I will find out how to raise the resources need.”. They had an attitude of action. They did not wait until they found all the answers. They just started doing.

What stops you and me from doing?

Is it because we dont have time?
Is it that we dont have the ‘knowledge’?
Is it the fact that we are scared of failure?
Is it that we dont have the money we need?
Or, is it because we are not sure if it makes sense?

The fact is that whether you dream of you own business, or of rising the corporate ladder, or of creating social change, you need to get off your butt, and do something about it. If you are a student and you want to work on a project along with a dynamic team of youngsters and experienced pro's, then do something about it. Choose a project. Start!

No, Im not asking you to launch a start-up. There is another alternative. It’s called a ‘Fellowship’. We have heard of internships, traineeships, apprenticeships, partnerships and even mentorships. But what is exactly is a fellowship? Fellowships are a mode of learning that combines formal learning with practical doing, along with guidance from industry practitioners and mentors. There are many fellowship programs around the world.

If you are ambitious and ‘entrepreneurial minded’, which means you are excited about change, about solving problems, and about learning how a business is created, you should consider doing a fellowship. Here are 5 reasons why ambitious students should consider joining a fellowship program

Balance of formal learning and learning by doing
Typical college education focuses heavily on textbooks, instructions, curriculum, exams and assessments. However, in practice we realise in our own life that majority of our ‘deep’ learning happens through doing - projects, teamwork, assignments, standing in for someone else, challenges, teaching someone else and even learning by watching others perform. Fellowship programs balance this ratio by providing opportunities for learning by working on real life problems.

Be a part of a diverse but dynamic team of people
When I walk with a group of people who are as fit or fitter than me, my speed always increases. Fellowships programs are selective and they recruit people based on their attitude and their personal drive and ability. Since fellowships are not that common, there is a natural selection at play, as only the most curious find out about them and actually apply!

Have access to mentors and professional networks
Most fellowships are driven by a healthy mix of academics and industry practitioners and leaders. Students are encouraged to meet and have interactions with leaders from various fields. Conversations outside the classroom, and based on real projects and challenges, are always deeper than just a social conversation. Learning to tap into the wisdom and experience of these stalwarts is an opportunity for young students to expand their mind and their personal network.

Be engaged in challenging, varied and exciting real life projects
Knowledge learned but not applied, often decays inside our own heads. It can potentially create frustration and a tendency to over-analyse everything. But knowledge applied on practical problems and situations become ‘deep-learning’ and becomes a part of our set of abilities. It transforms into an experience. Fellowship programs enable experiential learning by challenges students to adopt real life complex problems, and raise resources to solve them in a meaningful and sustainable manner. Fellowships are a powerful life-learning opportunity.

Craft a powerful story that open doors of opportunity for further studies and career growth
Degrees and certificates are fast becoming too commonplace and not enough to distinguish you from competition. Every has them. Recruiters doubt them. Whether you are applying for a scholarship in a top university, or for that dream job in a fast growing startup, or looking to raise funds for your new venture, what selectors are looking for is evidence of what you have ACTUALLY DONE. They want to know your stories, your challenges, your dreams, your actions and what you did with them. Stories sell. Fellowship programs give you an opportunity to create a powerful story for yourself that can be a gateposts to multiple opportunities throughout your career.

Fellowship programs come in various flavours, ranging from

Social impact (Gandhi fellowship),
Education (Teach for India, Azim Premji fellowship),
Politics (LAMP fellowship)
Rural development (YFI fellowship, Prime Ministers Rural Fellowship, Art of Living fellowship)
Multi-disciplinary (Young India Fellowship)
Biodiversity (Ravi Sankaran fellowship)
Leadership (Asia Leadership fellowship)
Social Innovation (William J Clinton fellowship, International Innovative Corps)

Choose the program you wish to apply for based on your interests and inclination.

The Enterprise fellowship is specifically designed for students who want to develop an entrepreneurial mindset. Here are a few aspects of the program that make it truly unique:

Designed in partnership with entrepreneurs and incubators to take students through the journey of a business formation
While most fellowships are for post grads and doctoral students, this is the only program focussed on undergrad students
It is part-time with flexible timings and hence students can manage their college studies in parallel.
There is a dedicated cool and funky office space for the fellowship partners
Involves an inter-disciplinary approach with business, technology and design topics
Based on research and practices that will help youth develop an ‘entrepreneurial mindset’