March 9, 2016

How to raise funds for the Universities in India?



India is incomparable to the west on most counts including quality of the education. Higher-Education in India is in sharp decline unlike USA where it is improving by the day. Whereas the private education enterprises are funded almost entirely by the students’ fees, the public universities run on government grants in India but not so in the west.

Though many Industrial houses have ventured into education but the hullaballoo about lack of skills among the graduates remains the chartbuster since last decade. Has the education system really failed to inculcate skills amongst the students? Many imagine so. Well those who are convinced about it generally blame it on the lack of funds, research grants available to the universities in India. Is it impossible to raise funds for universities in an economy which continues to grow at a healthy seven plus rate?

Universities which offer MBA/PGP programs can ask their Management faculty to plan and lead the task of marketing the institutes to stake holders for fund raising. If management faculty can train the students to become managers to contribute to the growth of commerce & technology in India they sure can help their institutes meet its challenges.

Universities produce opinion leaders therefore their economic footprint is not limited to those who earn a degree from its precincts. Marketers understand the value of opinion leaders and are eager to win over their confidence. A University campus offers widest congregation of opinion leaders in a single place which could be a prime target for any astute advertiser. Moreover universities can plan many strategic events and research projects which could attractive to the industry & commerce.

In the present form the universities in India lack a dedicated marketing team that could bridge the gap between industry and academia which could generate funds for the universities. Though the task can well be delegated to the Commerce & Management faculty if few industry experienced faculty exists on the campus. There is huge potential for any university to generate more revenue by bridging the gap between industry and academia.

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