Most people would agree that being a smart middleman is the key to doing business. Most good businesses are viable because they identify and prudently plug the missing links in the perennial chain of demand and supply. But what is more blatantly palpable is the over exuberance in budding middlemen (entrepreneurs) to run with solutions that let alone would serve any unmet needs, are mindless iterations of solutions already discovered!
It is puzzling to see entrepreneurship being taught in business schools as a subject. The most it does is acquaint those crediting it, with nit-bits of writing and framing a good business plan. Consequently, most management graduates become adequately inept in even identifying good business models among tangible entrepreneurial solutions. It is common place to see them use elaborate revenue models, SWOT analysis, exit strategies etc. to routinely brandish non-existent ideas. Perhaps as I see, they are qualitatively skilled to become the eponymous middlemen minus the needed solutions and in more hopeful cases correctly identifying the missing links in the chains but lacking the know-how to plug the gaps!
Young tech graduates on the other hand may look a little clumsy and naive in understanding these brandishing tools possess an uncluttered mind in connecting problems to ideas. This is essentially because of not learning entrepreneurship in classrooms; they evolve a mindset of salvaging opportunities (problems) than validating opinions (as most management graduates do). It also suffices here to add briefly that all those tech graduates who believe that entrepreneurship like any other degree that they aspire of, would have to fall in their repertoire in the future are party to same mistaken thinking like MBAs!
This is not to undermine the contribution of astute managers (mostly MBAs) in successfully running big businesses. Strong examples from the Silicon Valley and a very detrimental subversion of the fundamental exercise of problem solving in management education point to technology institutes as the ideal seeding grounds for entrepreneurship. Technology institutes have also been unsuccessful in catapulting this mindset into vigorous activity. The resolve in young tech graduates in creating meaningful businesses is still new founded and meek. Most of them are merely happy to tread the trails of delusional paths carved by their management peers. Notwithstanding, these times are the most exciting! Stories of successful entrepreneurs and their mentorship could be the required fodder for their inspiration. The Silicon Valley entrepreneurs have got their heart at the right place.
The need in India is also to build for itself an officious self-correcting mechanism that can purge the system whenever entrepreneurial activity goes astray. I don’t know if most people realize that China is inadvertently following the same example. I mawkishly believe that breeding vibrant entrepreneurial activity requires the support of a fundamentally resilient ecosystem. Only science and technology could lead the way. All other dirt would eventually get trashed. The middlemen would eventually find their dutiful place when strong markets are in place.