Entrepreneurial Mindset for Engineers: The Role of Academia and - - PowerPoint PPT Presentation

“Entrepreneurial Mindset for Engineers: The Role of Academia and Industries”

Problem Statement

• Thousands of Engineering students graduate

every year

• Very few get good quality jobs
• Taking a long time to get job (1-2 years)
• The youth is loosing hope and feel discouraged
• The Elite universities are charging a lot
• The industry complains that the quality of the

graduates is very low i.e. chairman Amreli, Arpatech, Artech and many others

• The faculty complains that the industry does not

respond to the academia

Solution

• To work on the Universities to develop an

entrepreneurial mindset

– Faculty development – Content and curriculum – To offer a solution to the industry – To prepare students which can add value

• To educate the Industry

– The importance of the resources within the university – To become a learning partner with the university i.e. Infinity School Lahore – To engage faculty and students

“In Six more weeks, these Engineers will be ready for market”

Managerial Mindset

Babson (Timmons Model) Causation Model 2004 Experiment at IBA with Effectuation Darden Model

Entrepreneurial Mindset

Problems with the Management (causation) lens of entrepreneurship

• Focus on Grand Vision
• Frequent use of words like state
• f the art, strategy
• Over emphasis on planning
• Arrogance
• More importance to resources
• Focus on scale
• Impatience, want to hurry
• Considers resources are finite
• Does not like spontaneity,

surprises

• Encourages cut throat

competition

• Encourages spending beyond

means

• Pressure to deliver
• Very less learnings from failure
• Failure rate is very high
• Measure of success is the

“Bottom line”

Entrepreneurship: An effectual Lens

This is the story of Interloop, Ghani Glass, Chinoti etc ………… AND the Beaver

• Action oriented
• Use of bird in

hand

• Calculated risk
• Agile, Flexible
• Cooperation
• Gives hope and

courage

Effectuation (create a effect with what ever you have)

• Evolving Means (Means evolve with time, reflection,

experiments and action)

• New and Different Goals are identified during the journey.
• Effectuation evokes creative and transformative tactics
• heuristics (rule of thumb, intuitive, common sense) used by

expert entrepreneurs in new venture creation.

A framework to engage the University and Academia for an entrepreneurial Mindset

New worlds derive their growth from thoughts quite fresh and new. A world is neither built nor grow from stones and bricks. The firm resolve of those, Who self explore, Transforms a stream in to sea that has no shore.