Chris Owen - Ross School of Business and School for Environment and Sustainability
People are pouring into cities.
In India alone, urban centers are expected to grow by 250 million during the next 20 years--nearly equivalent to the entire population of the United States. Rural Indian residents are moving into cities for work, for the lure of modern conveniences, or simply to be closer to fellow migrant family members. Indian farmers, in particular, have been forced into urban areas by water wars, below-market value pricing for their crops, and debilitating debt. Considering that India will also have the largest millennial workforce in the world by 2027, we must ask: Where will all of these people work?
Government funds are already being stretched thin by increasing demands on transportation infrastructure, waste management systems, and an expanding energy grid. National or international aid organizations may provide relief for society’s most destitute, but that still leaves a large middle class searching for economic stability.
This is precisely the purpose of Poornatha--my counterpart organization based here in Madurai, India. The mission of Poornatha is “to foster socio-economic vibrancy and entrepreneurial resilience, thereby contributing to nation-building.” In collaboration with the Michigan Academy for the Development of Entrepreneurs (MADE) and the William Davidson Institute (WDI) at the University of Michigan, Poornatha is designing an affordable, world-class coaching curriculum for entrepreneurs in emerging economies. The goal of this program is to equip and empower entrepreneurs as confident, evidence-based decision-makers who build enduringly successful businesses that strengthen their local communities.
Madurai is an ideal test site for this program. Located in the southern state of Tamil Nadu, Madurai is a gritty trading center with an aspiring manufacturing sector, reminiscent of an American Rust Belt metropolis. It’s home to rubber factories, sand mines, raw material distributors, a robust textile industry, and an engaged entrepreneurship network. Poonatha provides first, second, and third generation entrepreneurs in Madurai with training in cash flow analysis, marketing and brand management, leadership development and, most importantly, data-driven decision-making. Our hope is that this program helps cultivate a business ecosystem that ensures stable, sustainable economic growth for the region.
Overall, by investing in strong local economies, India can address its dual-challenges of rapid urbanization and rising unemployment. Indeed, for this reason, entrepreneurship in India--and the work of Poornatha--is becoming increasingly important.
About the Author: Chris Owen is a rising second-year dual-degree student with the Ross School of Business and the School for Environment and Sustainability at the University of Michigan. He is passionate about social entrepreneurship, sustainability, and people strategy. He joins the 2018 WDI Global Impact Fellows program after serving for three years in Ecuador with the U.S. Peace Corps, first as a business consultant in the natural resource conservation program and then as a Regional Volunteer Leader.
References:
1. https://www.mckinsey.com/featured-insights/urbanization/indias-urbanization-a-closer-look
2. https://www.financialexpress.com/economy/indias-millennial-generation-bigger-than-china-to-boost-nations-workforce-to-worlds-largest-by-2027/836248/
3. http://www.thehindu.com/news/national/growth-in-urbanisation/article23925543.ece
People are pouring into cities.
In India alone, urban centers are expected to grow by 250 million during the next 20 years--nearly equivalent to the entire population of the United States. Rural Indian residents are moving into cities for work, for the lure of modern conveniences, or simply to be closer to fellow migrant family members. Indian farmers, in particular, have been forced into urban areas by water wars, below-market value pricing for their crops, and debilitating debt. Considering that India will also have the largest millennial workforce in the world by 2027, we must ask: Where will all of these people work?
Government funds are already being stretched thin by increasing demands on transportation infrastructure, waste management systems, and an expanding energy grid. National or international aid organizations may provide relief for society’s most destitute, but that still leaves a large middle class searching for economic stability.
This is precisely the purpose of Poornatha--my counterpart organization based here in Madurai, India. The mission of Poornatha is “to foster socio-economic vibrancy and entrepreneurial resilience, thereby contributing to nation-building.” In collaboration with the Michigan Academy for the Development of Entrepreneurs (MADE) and the William Davidson Institute (WDI) at the University of Michigan, Poornatha is designing an affordable, world-class coaching curriculum for entrepreneurs in emerging economies. The goal of this program is to equip and empower entrepreneurs as confident, evidence-based decision-makers who build enduringly successful businesses that strengthen their local communities.
Madurai is an ideal test site for this program. Located in the southern state of Tamil Nadu, Madurai is a gritty trading center with an aspiring manufacturing sector, reminiscent of an American Rust Belt metropolis. It’s home to rubber factories, sand mines, raw material distributors, a robust textile industry, and an engaged entrepreneurship network. Poonatha provides first, second, and third generation entrepreneurs in Madurai with training in cash flow analysis, marketing and brand management, leadership development and, most importantly, data-driven decision-making. Our hope is that this program helps cultivate a business ecosystem that ensures stable, sustainable economic growth for the region.
Overall, by investing in strong local economies, India can address its dual-challenges of rapid urbanization and rising unemployment. Indeed, for this reason, entrepreneurship in India--and the work of Poornatha--is becoming increasingly important.
About the Author: Chris Owen is a rising second-year dual-degree student with the Ross School of Business and the School for Environment and Sustainability at the University of Michigan. He is passionate about social entrepreneurship, sustainability, and people strategy. He joins the 2018 WDI Global Impact Fellows program after serving for three years in Ecuador with the U.S. Peace Corps, first as a business consultant in the natural resource conservation program and then as a Regional Volunteer Leader.
References:
1. https://www.mckinsey.com/featured-insights/urbanization/indias-urbanization-a-closer-look
2. https://www.financialexpress.com/economy/indias-millennial-generation-bigger-than-china-to-boost-nations-workforce-to-worlds-largest-by-2027/836248/
3. http://www.thehindu.com/news/national/growth-in-urbanisation/article23925543.ece
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