The Stanford Graduate School of Business-led initiative Stanford Seed has selected 45 Indian companies for its Seed Transformation Programme. As per reports, these firms belong to a range of verticals, including healthcare, energy, retail and product manufacturing, education, agriculture and financial services.
According to the organisers, the year-long programme is aimed at bringing Silicon Valley innovation and entrepreneurship within reach of emerging enterprises. The programme currently includes eight months of management training, geared towards helping startup founders grow and scale their businesses.
In the last five years, Stanford Seed claims to have trained more than 500 business leaders.
Commenting on the development, which marks Stanford Seed’s entry into India, Stanford GSB Dean Jonathan Levin said, “We selected India because of the high number of promising entrepreneurs with exciting businesses, and the potential for our Seed Transformation Program to support these businesses in their expansion. We see a significant opportunity to have a positive impact in the region by empowering and enabling business leaders who are focused on lifting India to greater prosperity.”
As stated by Levin, the Seed Transformation Program is meant primarily for founders and senior leaders of small and medium-sized enterprises across diverse industries. As part of the programme, which will run until August 2018, Stanford GSB faculty will not only offer advice and training to entrepreneurs but also assist them in building products and services that cater to Indian needs.
Additionally, the faculty will provide in-class sessions and mentorship to all participating companies. All in-person interactions will take place in Chennai.
The programme is open to for-profit companies that are legally registered in India, and have an annual revenue of anywhere between $150K and $15 Mn. The total fees of $5,000 will include breakfast, lunch, snacks, and most dinners. However, lodging and transportation costs will be separate.
In addition to India, the Seed Transformation Programme is available in different parts of Africa. According to the Stanford Graduate School of Business Dean, the ultimate goal of this one-of-a-kind initiative is to help create jobs and scale developing economies, especially in places still struggling with poverty.
(The development was reported by Livemint)