IIM gives a jolt to Entrepreneurship

The decision by IIM Ahemdabad to hike its fees by 300% to 11.5 lakhs, have had resistance from most quarters questioning its affordability and IIM A standing to its reputation of being the best management institute in the country came up with a solution where they have made the fee affordable for the lower middle class. But what about the impact of this fee hike on IIMA's Go-It-Alone brigade, which it had been flaunting off. This decision will have a great impact on the entrepreneurship which had somehow started to bloom in the campus. The students who are looking to start of their own now will pass out with heavy loans on their shoulders. In a country in which entrepreneurship is considered as madness where one's status in society is still judged by a white collared job one has, how will the IIM's now produce the first generation entrepreneurs it slowly has started to produce? What is the use of all the entrepreneurship programmes it is running and boasting off?
Working in a small entrepreneurial organization by IIMA alumni’s started with the money they earned in their summers, I am sceptical this initiative would have started if they would have passed out with loans of 11.5 lakhs each hovering in their minds. Entrepreneurship is the need of this hour for our economy, as a country if we have to achieve a goal of being a developed nation by 2020 we should help nurture new business, support the individuals who want to follow this difficult path , create atmosphere facilitating new business ideas to flourish.

I leave it open to evaluate this untouched impact of fee hike on entrepreneurship? Hope IIM’s have a way out n the people remain motivated to choose the alternative career and challenges of the entrepreneur.

- Shrey