Irish company picks 3 “associates” from IIM-Ahmedabad:- Ireland-headquartered engineering company Ingersoll Rand (IR) has hired three students from the Indian Institute of Management, Ahmedabad (IIM-A) as 'Entrepreneur Partners' for a period of two years.
typically, students get either placed in companies or start own ventures. With this experiment, IR plans to adviser the students and help them turn independent entrepreneurs who partner with the company to expand business at the end of two years.
The relationship is equally beneficial. IR will get good talent. And, students who dream to become entrepreneurs but cannot afford huge capital investments get a solid launch pad.
The graduates would be first uncovered to the company's products and geographies in the first year and treated as employees with a fixed salary. In the second year, the pay will be variable and students are theoretical to choose a perpendicular and start developing a business of their own based on the product contributions.
K Hanuman, a post-graduate programme student of IIM-A's 2009-11 batch Says "I always wanted to run my own firm but was not sure about the business enterprise. But this programme has given me the platform to work across sectors before deciding on my area of expertise. I will also be allowed to use the company's brand name and the mentoring will certainly help,".
The company targets to create business lines worth Rs 100 crore over the next three years, independently looked after by people like these graduates. To drive the results, IR wants to communicate entrepreneurial energy through a pilot project called 'Entrepreneurial Management Program'.
Sandeep Kumar Gupta, another student says that "The contract includes working in rotation at four main locations of IR in India in the first year. I will have to come up with a business plan in the last six months and if I come up with some solution related to IR products, my business enterprise will be sponsored by IR. This is a unique opportunity for graduates who are looking at becoming entrepreneurs,".