By Prof. Shilpi Jain, Dean Corporate Relation, FORE School of Management
The entrepreneurial ecosystem in the country, India, has undergone a rather intriguing transition over the past ‘decade’. The country now boasts an estimated 1,25,000 ‘start-ups’, including 110 ‘unicorns’, as of 2025, making it the world’s third-largest ‘start-up ecosystem’ by that time. The entrepreneurial ecosystem in the country, as stated, has seen an ‘alarming pace’ of change lately, largely driven by ‘policy action, investment, and, finally, a shift, so far, incremental, toward a change in management education’. The change, Interestingly, is being ‘led by a growing number of B-schools, which are morphing, as they should, into ‘entrepreneur breeding grounds’ spaces ‘moving away from, or even ditching, the classroom’ and ‘moving toward, or even ditching, theory’.
Management education is changing rapidly
The traditional approach to management education, prevalent even in the Indian scenario, was largely aimed at training students to work in organizations. The case study method, classroom instruction, and internships were designed to impart management skills to students with a view to applying those skills to organizations. The current scenario, however, requires even more than management skills innovation and entrepreneurship Initiatives by MBA
Colleges to Fulfill the Industrial Requirements.
B-schools are now reformulating their vision to fulfill this requirement. The integration of entrepreneurship as part of their curriculum as a subject, rather as an elective, has now started in institutions. Courses related to the development of ventures, innovation, and social entrepreneurship are now being included so that students are better armed with a mindset and skill set to create ventures from scratch. Experiential learning initiatives by various institutions, involving interaction with ventures, MSMEs, or community initiatives, to realize the challenges involved in enterprise creation, are now being adopted by various institutions, including many MBA schools in the country.
Building the Ecosystem: Beyond the Curriculum
The development of B-school-incubators or accelerators has been one of the strongest transitions that have occurred between education and entrepreneurship. The leading institutions, including the list of top IIMs, ISB, XLRI, SPJIMR, and FORE School of Management, have developed entrepreneurship centres, providing seed capital, mentors, shared workspace, as well as networking facilities with investors and entrepreneurs.
Such incubators are essentially the link between academic learning and entrepreneurship. For example, start-ups that undergo incubation get assistance with regard to preparing business plans, market, or other areas related to either innovation or funding, which are areas that require expertise and are often inexperienced by entrant entrepreneurs.
Additionally, partnerships between academic institutions and industry and government organizations, including the ‘Atal Innovation Mission, DST, & NITI Aayog,’ help B-school-incubated ventures acquire funding, technological expertise, and innovation challenges, among others.
Such an integrated approach will turn B-schools into innovation ‘micro-ecosystems,’ where ideas are fostered all the way from their inception to their actual implementation. It will also enable students to ‘fail fast, learn faster, and build resilience a critical quality when operating in the untamed territory of ‘start-ups.’
Fostering an Entrepreneurial Mindset
Though investment in infrastructure and capital outlay is important, innovation and entrepreneurship as an entrepreneurial endeavor require a paradigm shift in mindset or approach. Recognized B-schools fully appreciate this and aim to create an ecosystem that fosters a mindset of exploration, experimentation, and self-learning. The faculty members are increasingly embroiling themselves in activities related to design-based approaches, lean startups, and simulations.
Entrepreneurship Cells or E-Cells, as well as student clubs, are an important part of instilling this attitude among students. Students are exposed to actual problem-solving by their participation in various hackathons, startup weekends, and business plan competitions, while they are able to network with venture capitalists or angel investors, as well as entrepreneurship alums, as part of their entrepreneurial experience.
Interestingly, this entrepreneurial desire is not limited to technology and for-profit organizations anymore. The new thrust is toward social entrepreneurship, which is well in line with the vision of the country related to development that is inclusive and sustainable. Students are now starting their entrepreneurial activities related to managing waste, education, healthcare, and renewable energy resources, which are purpose-based rather than mere profit-based initiatives.
Practical Exposure and Industry Collaboration
This synergy is important to create innovation at scale. B-schools working closely with start-ups, corporates, and investors best prepare students with hands-on training on emerging sectors such as fintech, AI, green tech, and logistics. Such industry partnerships often translate into live projects, consulting opportunities, and internships that let students witness firsthand the operations of new ventures in competitive markets.
Industry mentorship provides a practical lens to classroom concepts. Entrepreneurs and venture capital investors as visiting faculty or guest mentors will add immense value through the experience of scaling businesses, navigating funding challenges, and managing risk. This exposure bridges the gap between academic theory and entrepreneurial reality.
The Road Ahead: B-Schools as National Growth Engines
As India marches towards becoming a $5-trillion economy, fostering entrepreneurship would remain central to its growth story. The B-schools have the potential to become the backbone of this transformation. By equipping the students with the ability to ideate, innovate, and execute, they can create a generation of leaders who will be job creators rather than job seekers.
The next evolution of management education will be more integrated into technology and entrepreneurship. AI-based business simulations, virtual incubation, and global start-up exchange programs will allow Indian students to compete and cooperate on a wide international landscape. Government and corporate partnerships can further strengthen this ecosystem, enabling the entrepreneurial spirit to reach not just metropolitan campuses but also tier-II and tier-III institutions.
Conclusion
From a few risk-takers, the start-up journey of India has now become a collective national aspiration. At the pivot of this transformation are the B-schools, which are reshaping classrooms into innovation hubs and students into entrepreneurs. These educational institutions serve as the missing link between academia and enterprise, playing an important role in building not only successful businesses but also a resilient, more creative, and self-reliant India.