The future generation of adults is acquiring considerably more schooling than the present generation. This trend has been occurring as a result of affluence, changing social values, and the shifting employment needs of industry. In 1989, approximately 35 percent of adults aged 25 years and older had at least some college training. The younger age categories are the key college educated groups. For example, approximately 45 percent of those aged 25 to 34 have some exposure to college, compared to only 15 percent of those older than 65. A large share of the college student increase is accounted for by women, who now out number men on many campuses.
In a first-of–its kind venture, ‘Future’ Education is setting up a campus to nurture entrepreneurs, who are vital for the economy.
If India needs to eradicate poverty and be a developed country by 2020, we have to grow fast. We need to create more than 10 million jobs. The million dollar question is how are these jobs going to be created? The Government cannot create so many jobs. These can be done by the private sector for which entrepreneurship is the only solution. We need more and more entrepreneurs, because they create jobs. Entrepreneurs turn their dreams into reality through self created wealth. They insulate the economy from recession and help strengthen the country’s economy.
Future education, is setting up a hi-tech campus spread over 17 acres land at Lonavla, a first of its kind, to develop and nurture Entrepreneurs. FEL would groom students at the national level and also give them an international exposure to create Entrepreneurs of tomorrow who would help the Indian economy to grow.
To understand the global business culture ethics and environment it ahs brought in international faculties and has also introduced an international assignment for students to get an opportunity to visit various multi-national companies of different countries and interact with their senor executives. FEL has developed partnerships with entrepreneurial organizations that help students interact with these organizations.
FEL has adopted an innovation teaching and evaluation technique which would imbibe in the students a corporate culture and strong decision making capabilities which would ultimately develop Entrepreneurs.
The faculty shall:
1) Do SWOT analysis of all students and prepare time bound plans for improvement in required areas.
2) Set quantifiable goals for student’s development and grooming.
3) Conduct performance appraisal on a quarterly basis to understand the achievements vis-a-vis set goals and suggest corrective actions by doing GAP analysis.
4) In addition to the theory exams for each subject assess students on team working, leadership skills and entrepreneurship ability and give appropriate improvement measures.
5) Guide students to develop business plans.
6) Make them understand how to get venture funding for businesses.
7) Emphasize on developing their risking ability.
It has planned to set up an Incubation centre at its campus wherein students can get support for their entrepreneurial centre. The incubation center would support student entrepreneurs with an advisory panel and assistance in seed capital, designing of organizational structure, initial support from mentors in functions like sales and marketing operation, HR, supply chain management etc.
Future education chief Mentor said, we expect revenues from business to be in the range of 180-200 crore through enrollment of more than 35,000 students in various management programs in the year 2011-12. The income generated would be utilized for setting up similar campuses pan India and across globe.
The key qualities of a successful Entrepreneur are:
1) Highly motivated energetic and as an inner drive to succeed
2) High risk bearing ability and tolerance level
3) Generation of new creative ides and innovation
4) Open minded and prepared to listen and learn from everyone
5) Strong belief in themselves and capacity to bounce back
6) Leadership and strategic insight
7) They are driven by money, recognition, fame or power
8) They are fast decision makers.