What is common between Anand Mahindra, Kumar Mangalam Birla, and Shiv Nadar? They are all business leaders. Well, the answer is only partially right.
There is something bigger at stake. These business leaders have a shared common vision: education. Nadar, Birla and Mahindra are three top corporate leaders who have announced expansion of their education interests in the form of new universities and business institutes.
Nadar is setting up the Shiv Nadar University in Chennai, which will begin academic sessions in August 2021. Mahindra has put into place the Mahindra University in Hyderabad and will launch various programmes from 2021 onwards.
Birla, Chairman of the Aditya Birla Group, through his world famous BITS Pilani, is setting up BITS School of Management (BITSoM) in Mumbai. This business school will begin classes in July 2021 at a temporary campus.
Considering that in 2020, Coronavirus had taken a big toll on the employment market, leaving close to 10 million people jobless, these institutes could help bridge the gap between the industry requirements and education curriculum.
What will the new institutes offer?
When it comes to BITSoM, there will be a two-year MBA programme. This business school will offer specialisations in Entrepreneurship and Innovation, Ecommerce and Digital Leadership, Finance and Investments, Leadership and Strategy, and Marketing and Consumer Insights.
The fee for the two-year full-time MBA programme will cost a student Rs 24 lakh. BITSoM proposes to have a permanent campus in Kalyan by 2023, on the outskirts of Mumbai.
The Shiv Nadar University in Chennai is launching a School of Engineering and a School of Commerce and Management. The Shiv Nadar Foundation set up by HCL Group founder, Shiv Nadar, had in 2011 set up Shiv Nadar University in Uttar Pradesh.
When it comes to Mahindra, the University will launch the School of Management (2021-22), School of Law (2021-22), Indira Mahindra School of Education (2021-22), School of Media and Liberal Arts (2022-23) and the School of Design (2023-24).
An estimated 4,000 students and over 300 faculty members will be on board across the various schools at Mahindra University over the next five years.
What is the reason behind these new projects?
Experts believe that big names like Mahindra, Birla or a Nadar for educational institutions are a win-win situation for both the candidates who are joining, as well as for the industrialists.
Ashwin Kamath, an education consultant in Delhi, said that industrialists could access skilled quality-talent at entry level from these institutes once the students pass out from the first batch.
"We could see students from these institutes becoming a future talent pool for these industrialists. While it is not a certainty that all students will be absorbed into these business houses, it is certain that some top performers will get a job with these corporates," he added.
Especially when it comes to HCL Technologies' founder, Shiv Nadar, who has set up schools and universities through their non-profit venture, Shiv Nadar Foundation, and who believes in keeping holistic education as his key area of focus.
Roshni Nadar Malhotra, Trustee-Shiv Nadar Foundation, and chairperson of HCL Technologies, said that Uttar Pradesh and Tamil Nadu have been chosen as two focus states by the Foundation for their educational activities.There is also the view that when business leaders expand into educational activities, it exposes students to their rich and varied experiences.
"Rather than depending on pure theoretical knowledge that is abundant in the Indian education system, being part of Mahindra University or BITSoM, would ensure that students get access to top faculty, including these business leaders themselves through special lectures. Real-world-problem-solving-skills can be gained only by such interactions," said Pratima Banerjee, founder and CEO at StarRise Employment Solutions.
How will it benefit students?
For students, getting admission into a new educational institute is a risky proposition. However, if the institution involves a well-known corporate name, it certainly brightens their employment prospects.
Pointed out Satish Jalan, a Mumbai-based HR consultant: "For recruiters, the first focus is on legacy institutes. But if a college/university has names like Birla, Mahindra, or Shiv Nadar attached to them, the overall brand value of an institute also goes up."
For students too, there would be higher emphasis on multidisciplinary education rather than a linear academic structure followed in most universities, he added.
During the launch of Mahindra University, Anand Mahindra, Chairman, Mahindra Group and Chancellor, Mahindra University, said that their institution will combine education with extra-curricular activities like sports and music to build a skilled, future-ready talent pool.
"We want multidisciplinary education to be the approach. I would love to see a mathematician in the university, who is also a musician or an engineer and loves poetry," he added. Maybe, that is the ambidextrous approach that education in India needs.