Part 2 and an open business plan, bottom up. Let’s unleash Creative Destruction!
Loading ...Imagine over 350,000 engineers pass out every year hoping to get jobs and according to industry bodies only over 20% are employable. That’s a real challenge. Now imagine this. We create a startup that is built on a principle of open innovation. Every year we throw up a 1000 ideas that we can see are gaps from internet to telecommunications and finance to healthcare for global markets including that in India. We then throw open this opportunity on an annual basis to 400,000 students including professionals who work across industries in India to collaborate on these ideas (and they can do the opposite or their own). We then connect them to mentors and investors of time and capital and they have just 3 months to plan and prototype their ideas or technologies or businesses. The ones who make it through are ready and then we have a portfolio of over 200 companies (assume 80% die) annually to take to the next step.
So now people don’t have to have only one option, to just look for jobs.They can become wealth creators and this way we can kick start global innovation out of India. We can connect these ideas and startups to other clusters of innovation, ideas, investors and markets and other opportunities to collaborate and we have a pretty powerful opportunity here.
Even if these 400,000 students invest $100 each we then raise over $40m a year VC fund from their own fraternity and those who don’t start continue to participate as investors in people whose ideas have survived the Darwinism! This also means on an average every one of these startups get to over $200,000 seed fund from their fellow alumni and social networks. Here is an opportunity to create wealth for all.
If we do this annually we create wealth, jobs, opportunities and more importantly help make India very competitive as a nation for the next 100 years and in the process leapfrog and leverage all the good work that the services companies inIndia have done over the last 20 years.This also means that instead of doing engineering or masters projects just for academic sake and a must do, now people have the opportunity to go to the next level.
What’s the worst case? There isn’t one. People learn so much they become good enough anyway to get a job and employable from day one. What’s the best case? We create billion dollar global companies year on year and then there is no stopping the great talent that India and the world has.The idea? Democratize innovation and investing bottom up….and may a thousand Talpiots, Stanfords and IITs bloom.
How about this? I just threw open a business plan I have to all of you and you can participate with me and we can together catalyze a nation of brilliant minds and connect them to others around the world. Any takers?
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Comments
Hey Gerard J Rego,
A wonderful article. I really appreciate the plan supported by a business case. But there extensions to be made to accomodate the practical scenario here.
Every year 350,000 engg pass out looking for primary software jobs as ur article says out of which only 20% are employable by the current companies. It means the rest lack certain engg concepts to be directly employable – i.e they cannot design/implement as well as the remaining 20%. So the primary ppl in the 400K ppl you were taking about are already employed professional (most of those care to earn -> eat -> sleep -> earn). I am assuming a decent 50% would want to work on this project.
So the next challenge is to get these 200K ppl them chip in 100$ into this project. And to make the situation worse. Ppl would bother to do this. Every one wants easy money.
The best thing i liked in the article is the motivation for such a Task.
I’d like to contribute if this case ever goes into implementation.
(I m in this industry for more than 2.5 years now – not a veteran tho’)
[...] Post stolen from: http://blog.nasscom.in/emerge/2007/11/06/part-2-and-an-open-business-plan-bottom-up-lets-unleash-cre... [...]
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