We are witness to the widespread consequences of a dynamic, unpredictable world. The on-going Covid-19 pandemic has dealt devastating blows to the global economy. In the early days of its spread, the economic blowout of the health crisis was touted to be worse than the financial crisis of 2008-09, according to the IMF. In this backdrop, it becomes imperative to train future entrepreneurs and business people with the financial agility and dynamism to succeed in times of crises and beyond.
In an effort to empower the youth to embark on their own success stories and transform the economy of India, O.P. Jindal Global University (JGU) has launched a one-of-a-kind programme at the Jindal School of Banking & Finance (JSBF)—the three-year B.A. (Hons.) in Finance & Entrepreneurship. It will offer a nuanced understanding of issues at the intersection of finance and entrepreneurship.
Students of the B.A. (Hons.) F&E will draw significant learnings from internationally-qualified faculty who are at the top of their game in the industry, research and consulting. The dynamic education model facilitates lifelong learning through hands-on training, extensive engagements with premier organisations and start-ups, global exposure, and a robust combination of traditional knowledge with practical skills for the 21st century.
Here’s what budding entrepreneurs stand to gain from the contemporary new degree:
A firm footing in finance
Start-ups are built on great ideas. An innovative concept is indeed the cornerstone of cracking the start-up scene, yet it doesn’t all hinge on ideas alone. To execute a real breakthrough product or service that will succeed in the market in the long run, young entrepreneurs need to have a handle on finance and economics. Without an understanding of financial and economic concepts like working capital, venture capital, cash flows, equity, assets, liabilities, financial risks, funding, taxes, investments, security analysis, behavioural economics and finance, fixed income securities and interest rate derivatives markets, private wealth management, return on investment, security analysis and portfolio management, and so on, then the vast and complex world of business can seem daunting.
Housed in a cutting-edge school of banking and finance, this programme is uniquely positioned to help students grasp the financial needs of their new ventures.
A practical knowledge of business-oriented technology
Today’s generation has been born into a digital age where technology is the very backbone of modern life. In a time when toddlers coolly handle smartphones, using technology comes naturally to many young people. Already tech-savvy, given the right guidance to get acquainted with technology relevant to business, young entrepreneurs in-the-making can be poised to conquer the world of business—and that’s exactly what JSBF aims to do.
Students will learn to appreciate various digital financial platforms and digital tools useful for managing businesses, from the basics of Microsoft Excel to more focused software like Tableau or Power BI, the top data analysis tools for Business Intelligence (BI). They will dabble with data analytics as they explore technological megatrends, technology commercialisation and beyond.
As technology grows central to new-age businesses, the case for entrepreneurs without technical or engineering backgrounds to get hands-on with programming is also growing. ‘Code’ is the language of the 21st century. So as part of a programme that is especially tailored to the needs of new ventures around digital finance, students will learn the fundamentals of Python, a programming language among the best-suited to data crunching and FinTech.
People & planning—hone skills of communication, leadership & marketing strategies
One of the biggest challenges for entrepreneurs is competition. This is why ‘Blue Ocean Strategy’ has been a buzzword in the start-up scene. It is a method of identifying new markets with little to no players to create innovative products or services that can potentially target rapid, profitable growth. Students of the B&E programme will get a chance to learn all this and much more.
From learning about Blue Ocean Strategy, the Lego Serious Play Method (a technique which improves group problem solving), to understanding start-up ecosystem, design thinking and innovation, critical thinking and analysis, and the nuances of business communication—this programme seeks to prepare students in a holistic way to become all-rounded leaders of tomorrow.
Learn the difference between why some businesses succeed and others fail
The route to success is mapped by navigating traps and pitfalls along the way. Two equally promising startup ideas could yield very different results; one may thrive while the other falls flat. To a large extent, it all depends on the strength of a well-crafted business plan. This has become particularly relevant in the era of the pandemic where many traditional businesses have succumbed while others have adapted dynamically. This means developing an understanding of finance is critical in a dynamic environment.
Therefore, for young entrepreneurs, it becomes important to not only learn the drivers of success, but also critically evaluate those of failure. Students of the BA (Hons.) F&E will look closely at various ventures in India to arrive at those key differentiators. Through insights drawn from this collective knowledge, they will be able to apply the best practices in their own future ventures.
Extensive exposure to nurture an entrepreneurial mindset
Some argue that entrepreneurship is an inherent talent, a quality that cannot be taught—that entrepreneurs are born. On the other hand of this fascinating debate, many believe that quality educational institutions can indeed provide a conducive atmosphere to ignite the spark of an entrepreneurial mindset and fuel it with the necessary tools and techniques to find success. Yet at the end of the day, it is truly in the hands of an individual.
JGU is proud of many students and alumni who have gone to become successful entrepreneurs. Through this new programme, the young university hopes to inspire many more youngsters to step up and make use of its offering to achieve greatness in whatever they do. In an effort to provide every opportunity possible to accelerate students’ learning curve, JSBF offers a rich basket of start-up internship opportunities, workshops, industry projects, a Capstone project in the final year, and a gamut of study-abroad options.
Students can avail short-term study abroad programmes at the intersection of business, finance, entrepreneurship, banking, fintech, sports finance, art, politics and more at Wharton Business School, University of Pennsylvania, Philadelphia; ISDE Summer School in Madrid and Barcelona; Queen Mary University of London; and University of Queensland, Australia.
They can also pursue semester exchange, dual degree and postgraduate pathways at leading global institutions including Macquarie University, Australia; Birmingham City University, UK; Queen Mary University of London; Aston Business School, UK; University of New Brunswick, Canada; University of Otago, New Zealand; Istanbul Gelişim University, Turkey; National Chengchi University, Taiwan; University of National & World Economy, Bulgaria; Sofia University St. Kliment Ohridski, Bulgaria; IDC Herzliya, Israel; and Airlangga University, Indonesia.
Get ahead of the curve with knowledge of law
Being an entrepreneur does not mean you have to manage every aspect of a business alone. Yet a basic knowledge of finance, technology, and even law, will be useful to get off the ground, negotiate initial processes, hire the right people, and build business alliances wisely.
Marketplace realities can be challenging for new players. First-time entrepreneurs will inevitably be faced with the complex legalities of business, be it company law, intellectual property, contracts, trademarks, taxation, etc. The programme explores such legal issues to help students understand and build strong legal frameworks. Students can also take electives at Jindal Global Law School, which is ranked as India’s leading law school.
Incubate your big ideas while at college
What could be better than clubbing the start-up incubator experience into your days at college? The ‘Startup JGU Innovation Lab’ helps students ideate and develop their own ventures. JSBF also facilitates a ‘Startup Founder Series’ as part of the programme, which supports students with promising ideas to identify opportunities, strategise and plan, build business models and even register a business. Based on a screening, selected ventures could also receive funding, extended mentorship and access to JGU’s global professional networks to turn their entrepreneurial dreams into reality. The B.A. (Hons.) F&E is an ideal stepping stone for high school students to transform into financially responsible entrepreneurs in just three years.
