Indian Institute of Management Kozhikode (IIM-K) announced a programme, ‘Stayin’ Alive Entrepreneurship Fellowships’, which aims at promoting entrepreneurship on campus by providing alumni-funded monthly fellowship grants of up to ₹50,000 per month, for a year, to graduates who decide to launch their own start-up. This is a joint initiative by IIM-K LIVE (Laboratory for Innovation, Venturing and Entrepreneurship) business incubator and Entrepreneurship Development Centre of IIM-K, along with the IIM-KAA (IIM Kozhikode Alumni Association).
Over the past 20 years, IIM-K has enjoyed a stellar campus placement record and its alumni have gone on to attain senior leadership positions across sectors. A large number of alumni have also become successful entrepreneurs, moved from established corporates into leadership roles in growing start-ups, become leading venture capital investors and technology investment bankers. The well-connected entrepreneur network serves as a rich source of connections, advice and angel investment.
This year, under the aegis of the IIM-KAA, several successful alumni have come together to fund a significant fellowship initiative which provides grants to students who decide to set-up their own enterprises after they graduate. The Indian start-up ecosystem is thriving with exciting opportunities for innovative entrepreneurs, and these fellowships are meant to provide student entrepreneurs a platform to launch start-ups in this exciting time.
Director, IIM-K, Prof Debashis Chatterjee admired this initiative and invited alumni to continue to actively engage with their alma-mater.
IIM-K second-year students with viable business plans are eligible to apply for this programme. Applications undergo a selection process including a business plan presentation, which is evaluated by the expert panel consisting of alumni and IIM-K LIVE. The entire process is driven by IIM-K LIVE. Students securing this fellowship still have the opportunity to be part of on-campus placement programme within two-three years of graduating, if they decide to transition to a corporate job from their start-up.
Keyoor Purani, Executive Director of IIM-K LIVE, said, “We are very excited about this programme that will enable some of our brightest students to create their own ventures. In addition to the fellowship grants, selected students’ ventures will be incubated at IIM-K LIVE with alumni providing mentorship.” He further added, “Offering such flexibility to our graduates equips them with the means to pursue their dream careers. In the past few years, we are witnessing more and more students getting attracted by a start-up career.”