Innovating Education: Technology, Collaboration, and Entrepreneurial Spirit

CXOToday has engaged in an exclusive interview with Professor Rajkumar Phatate, Head, Centre for Innovation and Entrepreneurship, Mahindra University

Question 1: How is technology helping students develop their innovation and entrepreneurship quotient? Is this the next big change in the education sector?

Answer 1: Cutting-age technologies are the new transformative force in the education sector creating the much-needed products, services and business models leading to sustainable solutions. Technology serves as a catalyst for ideation, innovation and entrepreneurship by fostering a culture of creativity and problem-solving. With the advent of technologies like AI, ML, AR, and VR among others educators can facilitate immersive learning experiences, personalized learning paths, and real-world simulations, thereby enhancing student engagement and comprehension. Educational institutions can not only adapt to the changing needs of society but also incubate the next generation of entrepreneurs who are adept at harnessing technology to solve real-world challenges.

Question 2: What is the role of industry-academia collaboration in fostering innovation and entrepreneurship?

Answer 2: The collaboration between educational institutions and industry presents a myriad of opportunities for fostering innovation and entrepreneurship. Industry brings real life problems, expertise, infrastructure, and resources, while universities offer fresh perspectives, enterprising young students and disruptive ideas. By partnering, they can co-create innovative solutions to address pressing challenges within industry and beyond. Whether it’s through joint research projects, hackathons, incubation programs, or industry-academic partnerships, such collaborations facilitate knowledge exchange, high skill development, and market access for budding entrepreneurs. This helps in the creation of a vibrant ecosystem where ideas thrive, startups flourish, and impactful innovations emerge.

Question 3: How can educationists help inculcate the spirit of risk-taking and experimentation?

Answer 3: Educators play a pivotal role in encouraging students to explore their passions, think out of the box ideas, and embrace failure as a stepping stone to success. Cultivating a culture that celebrates innovation and risk-taking within the education system is essential for fostering entrepreneurship. It begins with promoting an entrepreneurial mindset characterized by curiosity, resilience, and a willingness to experiment. By integrating experiential learning opportunities, such as hackathons, design thinking workshops, and startup competitions, into the curriculum, students become more confident in the public arena, take calculated risks, iterate on their ideas, and learn from setbacks. Additionally, recognizing and rewarding innovative initiatives within the academic community reinforces the value of creativity and encourages continuous exploration and learning. It is necessary that the educationists are mindful of the fact that education is meant for doing new and different things(for social good) and not repeating the same what generations have been doing. This calls for experimentation and risk taking.

Question 4: What kind of opportunities and assistance does the Centre for Entrepreneurship and Innovation (CEI) provide students interested in entrepreneurship?

Answer 4: The Centre for Entrepreneurship and Innovation (CEI) at Mahindra University offers an array of opportunities and assistance to students promoting entrepreneurial ecosystem and startup culture on campus. There is a vibrant student driven Entrepreneurship & Innovation Cell (EIC) which strives towards fostering the culture of innovation and entrepreneurship across the campus by conducting events like, hackathons, challenges, ideations, summits, and networking. With a view to nurture entrepreneurial mindset, skillset and toolset, the center offers courses both compulsory and electives in entrepreneurship. These courses use experimentation learning pedagogies like games, simulations, projects and real-life cases.

For those having committed to entrepreneurial career, the center has established “AIC-Mahindra e-hub” and incubation center funded by Atal Innovation Mission, NITI Aayog. Through initiatives like the pre-incubation program, Eureka evening, AIC-Mahindra provides hands-on training, mentorship, prototyping facility and networking opportunities to aspiring entrepreneurs, equipping them with the necessary skills and knowledge to turn their business ideas into reality. The program focuses on key tech sectors such as Artificial Intelligence, AR/VR, Fin-Tech, and Green Technology, catering to the diverse interests and aspirations of students. By providing a structured framework and access to expert guidance, AIC-Mahindra empowers students to navigate the entrepreneurial journey with confidence and resilience.

The interdisciplinary center serves all schools of the university. The center has also collaborated with several international educational institutions and we are a member of the prestigious Babson College Collaborative.

Question 5: How do you believe innovation and entrepreneurship are reshaping traditional education models in India?

Answer 5: Innovation and entrepreneurship are reshaping traditional education models in India by infusing them with dynamism, relevance, and inclusivity. Through innovative pedagogies, interdisciplinary collaborations, and experiential learning opportunities, educational institutions are preparing students for the complexities of the modern world. Entrepreneurship education, in particular, emphasizes practical skills, critical thinking, and adaptive problem-solving, empowering students to create value and drive societal impact. Moreover, initiatives like the AIC- Mahindra e-hub’s pre-incubation program provide students with real-world exposure, mentorship, and resources to complement their academic learning, thereby bridging the gap between theory and practice.

Question 6: Looking ahead, what do you envision as the future trajectory of innovation and entrepreneurship in the Indian education sector, and what implications might this have for the broader economy?

Answer 6: Looking ahead, the future trajectory of innovation and entrepreneurship in the Indian education sector holds tremendous promise for driving economic growth, fostering social innovation, and addressing pressing challenges facing society. As technology continues to advance, we can expect to see further integration of AI, machine learning, and data analytics in education, enabling personalized learning experiences tailored to individual needs and preferences. Moreover, the proliferation of edtech startups and incubation hubs will democratize access to education and create new pathways for lifelong learning and skill development. By nurturing a culture of innovation and entrepreneurship from an early age and providing robust support systems for aspiring entrepreneurs, we can unlock the full potential of India’s youth and build a more prosperous and inclusive society for generations to come.