1. For these entrepreneurs, education pays Page 2 of 2
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Bangalore: When Jaisimha Jaithirth and Sudhakar Joshi, two young professionals in their mid-thirties, decided to start a business venture of
their own, the education system, which leaves a little too much to be desired, presented them with an abundant mine of problems to convert to
opportunities. Recalling their own phobia for mathematics as children and the redundant, archaic methods of teaching the subject in many
schools, the two were quick to realise that finding a way to desensitise children towards this widely hated subject could be the key to their
fortune. Without having to spend one to get there, of course! Around four years ago, they launched Chrysalis I-Math, a pre-school training
centre that aimed to do just that through playway training for pre-schoolers in application-based mathematics.
“The way mathematics is taught in our education system is inadequate and the foundation is not application based. When students reach
higher classes, they fail to understand how to really use what they have learnt and begin to find the subject very daunting,” says Jaithirth. “We
started Chrysalis because we always hated maths and did badly at it, despite the fact that we were good at all other subjects. We knew there
had to be a change in the way the subject is taught and that every child can benefit from what we do. We collaborated with Universal Edulink
to develop the program,” adds the first generation entrepreneur.
Like the duo from Chrysalis, numerous young, well-educated entrepreneurs with little or no background in business are using the inadequacy
of the education system to their advantage by coming up with innovative solutions to fill the gaps. This, along with factors such as high
growth potential and low capital requirements, is spurring a new generation of entrepreneurs and ideas in the education and training services
segment.
Says Harshall J Shah, chief executive officer, Reliance Venture Asset Management Ltd, “In this sector, Rs 10-20 lakh can do wonders for an
idea that taps what the market is looking for. First generation entrepreneurs are not only able to identify the potential in the education industry
but are also able to devise innovative strategies to harness this potential.”
Case in point is Saumil Majmudar, chief executive officer and co-founder of EduSports. After a brief stint with Wipro after completing his
MBA, Majmudar started his venture in 2008 with a capital of around Rs 10 lakh as a way to tackle...
http://www.financialexpress.com/news/For-these-entrepreneurs--education-pays/651215/ 7/26/2010