IIM Banglore launches new joint rural entrepreneurship incubation programme

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The Indian Institute of Management (IIM) Banglore will unveil a unique collaborative incubation program for rural entrepreneurship from the 2021-22 academic session.

NSRCEL, the Center for Innovation and Entrepreneurship at IIM Banglore, has partnered with the Buddha Fellowship Program (BFP) to offer this unique entrepreneurship course.

The motive behind this program is to attract creative and talented students who can come up with innovative ideas for improving the development sector in both quality and quantity while maintaining standards.

Through this program, IIM Banglore aims to transform working professionals into those development entrepreneurs who can advance, support India’s industries and build a brighter future.

Venkatesh Panchapagesan, chairman of NSRCEL at IIM Bangalore, said of the program that the institute is focused on helping entrepreneurs working on grass-roots level in rural areas.

He added that at IIM Banglore we believe that rural areas offer immense potential for business opportunities that can help build a more self-sufficient nation.

The Chairman mentioned that entrepreneurs operating in the rural ecosystem are limited to smaller scales due to a lack of knowledge and availability of primary resources.

Such conditions lead to challenges in various aspects of entrepreneurial startups such as marketing, branding, quality standards, value chain, product innovation, etc.

Thus, the joint rural entrepreneurship incubation program will provide rural entrepreneurs with adequate knowledge to enable them to cope with such challenges.

Upon successful completion of this program, a person becomes self-confident to deal with all kinds of problems that arise in the daily practice of an entrepreneur, especially in rural areas.

Ved Arya, the founder and director of the Buddha Fellowship Program (BFP), said her ultimate goal is to nurture 1,000 Buddha Fellows who can serve to influence five million people over the next decade.

He added that BFP is on a mission to build a self-sufficient India by eliminating rural poverty and turning the entrepreneurial dreams of young Indian minds into a bright reality.