Budding Entrepreneurs in India & Australia to Raise Global Business Approach
University of Queensland plans to grow its Indian student population over the next five years with more scholarships and credit arrangements for Indian students.
Start-up communities in India are set to get a boost as a delegation from the University of Queensland (UQ), Australia visited Delhi to introduce its globally acclaimed ideation program for students keen on start-ups. The UQ Idea Hub program, which is open to students from all study areas, runs for six weeks and provides students with the skills and knowledge to conceive a start-up. Nimrod Klayman, Director, UQ Idea Hub, University of Queensland, Australia tells us more about the program.
How is the program helping the startups?
The UQ Idea Hub is an entrepreneurship pre-incubator at The University of Queensland’s (UQ) St Lucia campus, and is available to all students, regardless of which discipline they are studying. Through dedicated programs, networking, mentoring and workshops, the hub fosters innovation among students while they are completing their degree. Students can access training, mentoring, practical skills and confidence to begin to build their own startups, plus they can learn and practice critical thinking and project management skills to work collaboratively on shared ideas. It also connects emerging startups and established businesses with students, through formal mentoring (such as the China Mobility Program) and informal networking events (such as the Weekend of Startups). This facilitates two-way collaboration and provides opportunities for both parties to improve and build their business ideas.
Tell us about the various associations.
The UQ Idea Hub six week program is open to students at The University of Queensland (UQ) from all study areas, as well as staff members and young alumni (graduated in the last 10 years). The program provides participants with the skills and knowledge to conceive a startup. Students form teams and attend weekly workshops on ideation, technology choices, prototyping, market validation and business modelling. By the completion of the program students have experience in progressing projects to a prototype stage, ready for market testing and validation. Other experiences offered by UQ Idea Hub include:
· China Mobility Program – a four-week internship based at Shanghai technology startups
· Tel Aviv Startup Adventure – a four-week experience in Israel’s most influential startups
· Entrepreneur in Residence - Alborz Fallah, founder of caradvice.com.au, is involved in the program’s startup training sessions and provides mentorship to budding entrepreneurs from all disciplines
· Weekend of startups – a networking initiative designed as a platform for entrepreneurs, experts and builders to come together and create a final product, test real-world applicability and present your product to industry judges and investors
Is there any India-Australia tie-up?
The UQ Idea Hub has had many Indian students participate in the programs. Two examples are below: Visakh Vignesh, a UQ Master of Business graduate from UQ; Meet Sangbida, an international Electrical Engineering student at UQ; UQ plans to grow its Indian student population over the next five years, with more scholarships and credit arrangements for Indian students.
What do you think about Indian startup ecosystem? How is it different from Australia?
Both India and Australia are experiencing a boom in startups and entrepreneurship, with governments in both countries investing significantly in fostering thriving startup ecosystems. Each country approaches innovation differently, with varying cultural influences on the business styles, models and approaches to startups. Budding entrepreneurs in both countries could learn from each other to help progress new, creative approaches to global business.
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