Let a million entrepreneurs grow!

TL;DR

This paper discusses the significant employment gap for Indian engineering graduates and proposes developing micro-entrepreneurs through MAST education to create local tech enterprises, addressing employment and economic growth.

Contribution

It introduces the concept of MAST micro-entrepreneurship as a scalable solution to employment shortfalls for Indian engineering graduates, outlining necessary curricular and policy changes.

Findings

Highlights the employment shortfall of 500K graduates annually.

Proposes MAST micro-entrepreneurship as a scalable solution.

Suggests curricular and policy interventions for implementation.

Abstract

India produces about nine hundred thousand (900K) engineers annually, and many seek computer science and related technology jobs. Given that the IT workforce in India is still young, new graduates get jobs only when the industry grows. A liberal estimate based on the data from MeitY (Ministry of Electronics and Information Technology) and NASSCOM puts the annual job growth to three hundred thousand (300K), less than one-third of the graduation rate. In other words, about half a million graduates don't get a job every year (even when we consider that some students don't opt for jobs or go for higher studies). This position paper demonstrates that given the current growth rate of the Indian economy, such a significant shortfall will continue to exist. It then proposes a way to address this shortfall. The paper proposes to develop micro-entrepreneurs at scale, enabling many graduates to start micro-enterprises focused on AI, Software, and Technology (MAST). These MAST enterprises offer technology products and services to meet the hyperlocal needs of the businesses and individuals in the local community (a retailer in the neighborhood, a high net-worth person, or a factory). Such an endeavor will require curricular, policy, and societal interventions. The paper presents an approach to enable MAST education across campuses, outlining the key curricular changes required and important policies that must be created and implemented. This supply-demand gap is an existential problem for engineering education in India, and this position paper aims to trigger debates and collaborations to devise solutions that will work at India scale.