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There are a number of relatively slow growth markets in which we do a lot of business: India and EdTech are two examples. These are also two markets that I am passionate about, and have covered prodigiously for a long time. In a way, these markets, and many others that have similar characteristics, share very similar trajectories vis-a-vis entrepreneurship, venture capital, and exits. Another market in which 1M/1M doesn’t have much presence, but I have invested in, is Cleantech. The story is somewhat similar there as well. Let’s take a look at these slow-growth markets, and how they will emerge over the upcoming years.
It is that time of the year when we tend to pause and reflect. What have we achieved this year? What are the highlights of culture, business, technology, and trends that we have observed around us?
For me, the most exciting and positive movement at present is in the domain of technology impacting education. And it is an impact that is coming from many different directions.
Let’s explore them in further detail.
As a follow-up to my previous post, The Time Has Come For The College Entrepreneur, a question that begs to be answered is: What is the composition of a youth entrepreneurship course? What are the assumptions that need to be made about what students know?
Of course, one of the assumptions needs to be that the student has no business background or business training. Typically, they come from other streams of study and need to take entrepreneurship as a supplemental course.
In addition, give the job prospects, we have to also keep in mind the cost of education. It’s not reasonable to expect a large number of our unemployed youth to go to expensive business school programs and be saddled with large debt burdens. Entrepreneurship education needs to be imparted quickly, efficiently, and at a minimum cost. Ideally, it’s on a live project – a company – a venture – that the student has already started tinkering with.
I have tried to keep these criteria in mind as I have designed the One Million by One Million (1M/1M) program.
I am also curious to hear from educators at high schools and colleges who are coaching and mentoring students facing this deep recession on what, if anything, you are doing to steer them toward entrepreneurship.
America’s youth unemployment is at an all-time high these days. Studies and reports are showing numbers that are scary, depressing, and downright desperate. A Huffington Post article last summer pegged the number of 16–24 year olds who are unemployed at 51.1%. Things have improved a bit since, but the scale of the problem is still staggering.
We need the high schools and colleges in particular to step up and teach practical aspects of an entrepreneurial way of life to their students, and set expectations that kids and young adults will need to take destiny in their own hands. >>>