The Indian Institute of Management- Kozhikode (IIM-K) has launched fellowships to promote entrepreneurship on campus by providing monthly grants to graduates who decide to launch their own startups.
The alumni-funded programme titled 'Stayin' Alive Entrepreneurship Fellowships' provides fellowship grants of up to Rs. 50000 per month, for a year to graduates who decide to launch their own startups.
The programme is a joint initiative by IIMK LIVE (Laboratory for Innovation, Venturing and Entrepreneurship) business incubator and Entrepreneurship Development Center of IIMK along with IIM-K Alumni Association, a press release issued by IIM-K said.
The second year students of IIM-K with viable business plans are eligible to apply for this program.
Applications undergo a selection process including a business plan presentation which is evaluated by the expert panel consisting of alumni and IIMK LIVE. Students securing the fellowship still have the opportunity to be part of on-campus placement program within 2-3 years of graduating, if they decide to transition to a corporate job from their startup.
Prof. Debashis Chatterjee, director, IIM-K lauded the initiative and invited alumni to continue to actively engage with their alma-mater.
"IIM-K now has close to 5000 alumni and many of them are making a noteworthy impact. I am sure, as the institute approaches its Silver jubilee in 2021, our alumni will engage more actively and contribute significantly in multiple ways," he said.
Dr. Keyoor Purani, executive director of IIMK LIVE said that the programme 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 IIMK LIVE with alumni providing mentorship. Offering such flexibility to our graduates equips them with the means to pursue their dream careers. In the last few years, we are witnessing more and more students getting attracted by a start-up career," he added.
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