Notes

How might an engineer improve their prospects of becoming a business owner?

The list goes on and on: Sachin Bansal and Binny Bansal (co-founders of Flipkart); Pankaj Chaddah (co-founder of Zomato); Vijay Shekhar Sharma (founder of PayTM); Bhavish Aggarwal and Ankit Bhati (co-founders of Ola Cabs); Mukesh Bansal (founder of Myntra); Richa Kar (founder of Zivame); But, then, what is the common thread that connects them all? All of them are fundamentally Engineers, as you may have figured. They all had the guts to venture into the undiscovered territory of entrepreneurship, start their enterprises, and build corporate empires worth hundreds of crores and employing thousands of people today. They aren't the only ones. Thousands of additional 'engineers turned entrepreneurs' who contribute to the social ecosystem by increasing the economy and creating jobs by leveraging their vision, grit, and hard work.

What does Engineering ought to do with all of this, one would wonder? Do engineers make better business people? Although the matter is arguable (millions of non-engineers run successful firms), we tend to believe that having an engineering degree from Top Engineering College in Hyderabad confers significant benefits, particularly when it comes to technology-based startups. We live in a technological age; electronics practically surround our lives; we use technology in every area of our lives, to the point that we can no longer picture a life without it. And this upward tendency will continue. As a result, technocrats who are aware of these advancements should be able to develop suggestions to fill in the gaps, extend an existing notion, or introduce something entirely new.

Engineering students from Student-friendly Engineering colleges in Hyderabad often learn two essential skills: dealing with unexpected difficult situations and taking measured risks. Both are necessary characteristics of a successful entrepreneur. A vision is what gives birth to a startup. It must then be maintained and cared for as it progresses toward growth and success. This trip is never simple, and the route ahead is frequently obscured. Engineers have been taught how to navigate this road.

In the current global socio-economic landscape, this concept of entrepreneurship is possibly the most significant. Every year, around 3 million students participate in engineering courses in India, with nearly half of them graduating with a technology degree. Unfortunately, only about 20% of these graduates find stable employment in their field of study. We ascribe this mainly to the sizeable theoretical-practical gap that universities have failed to bridge, resulting in a severe skills deficit. Furthermore, work opportunities are few, with nearly 70% of our graduates underemployed or unemployed.

Engineering institutions can help to alleviate the problem to some extent by aggressively pushing students to explore self-employment. Essential skills must be taught to students beginning in the first year. They need to be able to develop their ideas while on the go. Engineering students' business ideas must be fostered, sponsored, and technically supported. Students must offer their ideas to the outside world to assess reactions and make recommendations or remedial actions.

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