Assignment on

“The Advent of Edupreneurs – How to Become a Successful Edupreneur in India”

BY Sheryl Susan John (94)

Smitha Vivekanandan (97)Subasri S (104)

Upasana Dwarakanath (112)

Contents

Sl. No. Topic Page No.

I Introduction 3

II Edupreneurs 5

III Case Studies 9

IV Recommendations 10

V Bibliography 12

Edupreneurs

Introduction

Education in India dates back to times unknown and has a rich heritage. The foundation for the formal system of education was laid by the arrival of the British in India. During the recent past, Indian economy has progressed, fuelled mainly by the cheap labour available in the country and inexpensive low end manufacturing. But the situation is changing and India has come to realise that its economic future lies in a better educated workforce which makes higher education its key to development.

Post independence, India has laid a lot of emphasis on education and has developed some comprehensive policies to improve the educational system in the country. The main policies include:

National Policy on Education, 1968 National Policy on Education, 1986 National Policy on Education, 1986, as modified in 1992

Right to Education Bill 2009The Bill gives a lot of hope aspiring and existing private players. Since there is no profit to be made from India’s poor, most of their ventures will concentrate on the upper classes. For the majority of Indians especially for those living below the poverty line, the Constitutional Amendment in 2001 came with the promise that the country’s liberal democracy will actually assume responsibility for all its citizens. The current bill, which makes this Constitutional right legal, is conspicuously silent on increasing the State outlay for Government schooling. Also, following on the lines of the Constitutional Amendment, the Bill limits its ambit to children between the ages of 6 and 14. It shifts the responsibility of ‘poor students’ to private schools (the 25 per cent reservation clause). Powered by a change in the socialist Government’s conscious step of keeping core sectors such as the country’s defence and education out of the liberalisation drive, the Minister has boldly announced that the Government is looking to make revenue for itself and for the private sector by making a commodity of education.

The Right to Education Bill mandates school management committees to take charge of neighbourhood schools. It speaks of a common board that will do away with the differential educational standards in the country.

The Overall State of the Education Sector in India as of nowAn effective education system cannot be envisaged without effective governance and management in the institutions. In India, governance arrangements are in many ways dysfunctional. Political interference with academic decisions, from hiring of staff to creating new programmes is widespread. Private universities have less external controls: S.P. Jain Institute of Management in Mumbai; Amity University, Delhi; Indian School of Business and ICFAI Business School, Hyderabad; Mahavir Academy of Technical Sciences and Presidency College, Bangalore and the Great Lakes Institute of Management, Chennai, among others.

The market logic to education is poised to play an important role in India’s pursuit of inclusive growth. It’s necessary to analyze the impact of marketisation of education on the 3 stated objectives of expansion, inclusion and excellence.

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Achieving inclusive growth as per the mandate of the ongoing Eleventh Five Year Plan (EFYP) is a daunting challenge for policy makers. It’s important to understand how the market for higher education (which is the upcoming sector for edupreneurs) is evolving and what the market implies for education and society in the broader sense of the term.

The policy framework for higher education is formed by the approach of the EFYP ,the report of NKC, along with the recently submitted report on renovation and rejuvenation of higher education(YCR-Yashpal Committee Report),prepared under the leadership of Prof. Yash Pal. Firm commitment is being shown by the government to reverse the declining budgetary allocation. It has always been tilted in favour of primary education but with the overwhelming importance of attaining Gross Enrolment Rate (GER) in higher education to 15% by the end of 2012, the EFYP is of the opinion that the sector needs to be overhauled. The centre has already taken policy initiatives to set up colleges and universities in unserved regions. The National Knowledge Commission (NKC) has recommended setting up an Independent Regulatory Authority for Higher Education (IRAHE) and has also suggested setting up of specialized research institutes primarily to meet the growing demand for professional skill- based education. The inclination towards greater private sector participation and the consequential neglect of the existing public education system, has found few takers within the academic circles.

When we extol the virtues of a competitive market, the pertinent question is whether competition in a market for education would usher in quality improvement and some movement towards homogenization through the price mechanism. Reputed institutions attract more funds in a scenario of competitive funding, more endowments from the reputed alumni as they come forward to donate and form a network, which enable those institutions to offer more scholarships and lower fees to attract good students. Similarly they attract the best minds to teach and do research. As a consequence the top institutions remain at the top and the mediocre ones are at the middle and the not-so-good ones are at the bottom.

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Edupreneurs

According to a Goldman Sachs report Dreaming with BRICs (Brazil, Russia, India, and China), India could be one of the world’s most dominant economies by 2050. The soaring Indian stock market has demonstrated an extraordinary level of confidence in the country’s potential. India’s population of 1.1 billion—having often been considered a liability—is now being redefined as its “demographic dividend.” Behind the gloss of the predictions is an open caveat: Much of India’s growth depends on its ability to bring substantial improvement to its dismal education sector.

Clearly there is a deeply held assumption here—that education and profit are mutually exclusive—you can’t educate children well and make money at the same time. The community recognises that there is nothing wrong in principle with making a profit from the provision of profession services such as medicine, law and accountancy so long as these services are conducted in accordance with the profession’s code of ethics and within the relevant legislation. These regulations aim to protect the rights of the consumer and mitigate conflicts of interest. Therefore, with similar guidelines in place, there is no reason, in principle, why profit could not be derived from K-12 education.

Furthermore, it is generally agreed that many other types of education including private tuition, coaching colleges, professional development, vocational training and some private tertiary institutions may ethically be run on a for-profit basis. This indicates that there in nothing in the nature of education per se which should necessarily exclude it from the for-profit marketplace.

We define edupreneur as, "a person who takes hands on responsibility in creating and developing a program, product, service, and/or technology for the enhancement of learning consistent with the stated goals of and supported by that organization."

Edupreneurs are educational entrepreneurs who are in big demand to infuse a revolution in the education sector. As a rich human resources nation, India should unleash ample number of edupreneurs to achieve social goals at a faster pace. They will be like our software engineers and centre kids who accelerated the pace of India’s economic progress in an unbelievably short period of time. If India stands tall today in the global economy, it is because of the software industry, telecom revolution and BPOs. If these three areas are rated as the major contributors for the success of Indian economy and society, edupreneurs could be the foundation stone for nation’s solid growth in the coming days. By encouraging edupreneurs to take off, the government can zero in on unemployment and illiteracy simultaneously. Frustrated by the inefficiencies of government schools, millions of poor parents are voting with their feet by pulling their children out of the free, yet abysmal, public system. They are increasingly sending them to private schools run by young edupreneurs who charge a nominal monthly fee.

In recent years, thousands of schools run by enterprising edupreneurs have taken root in urban slums, small towns, factory settlements, and the by-lanes of suburbs that are inhabited by low- and middle-income Indians. Parents believe in the transformative power of education for their children and are willing to pay a price. While government schools usually teach in local regional languages, most private schools promise an “English” education and guarantee satisfaction. Edupreneurs have attempted to fill the void in areas where government schools are either missing or ineffective. They have successfully convinced local parents that their

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children will receive personalized attention and a competitive education. The edupreneurs have kept their promises by attracting talented teachers from within the community, implementing effective teaching methodologies, and extending school hours to ensure that children are able to study without the pressures of child labour and unsupportive family environments. By offering scholarships to deserving students (particularly girls and orphans), these school founders have mobilized community members to support educational causes.

But, these institutions find themselves in a constant struggle with public bureaucrats to obtain legal recognition as they compete with highly subsidized government services. With no collateral to offer banks, cash and resources are scarce; microfinance institutions are reluctant to offer the amount of capital that they need. Moreover, a significant fraction of participating parents are poor—making fee defaults quite common. Edupreneurs are thus forced to rely on lenders for the payment of day-to-day expenses and instructor salaries.

The Manipal Academy for Higher Education rakes in revenues of Rs 814 crore, Amity Rs 600 crore, the Delhi Public School Society Rs 400 crore and Indian Institute of Planning & Management Rs 200 crore.

There are four clear upsides of removing the regulatory cholesterol that impedes entrepreneurship in education: Private enterprise will improve both in terms of access and quality and India will build

world-class institutions. Indian students will be spared humiliation at home (not seeing your name in the admission list despite being a good student) and abroad (racial prejudice, visa rejections, etc.).

Competition will eliminate regulatory arbitrageurs. A handful of current players, who are honest and competitive, will continue to prosper. Most importantly, the reforms will allow honest entrepreneurs to set up schools and colleges.

Multiple price points and alternative models will emerge. Private enterprise will create offerings all along the price spectrum.

Massive investments upwards of a few billion dollars will flow into both the core and ancillary education sector. Indian entrepreneurs will be better equipped to face competition from offshore offerings.

Over the past two decades, the spurt in demand for higher education in India has meant that public institutions could no longer play a lone hand. The government is clearly unable to accommodate the volume of students who now seek to pursue higher education in India. To top it all, there is growing dissatisfaction with the public education system. Thus, the growth of the private sector in higher education was only a matter of time and, indeed, its rise has been spectacular in the 21st century.

Current Scenario in the Private Sector

Worldwide, private education is the fastest growing segment of post-secondary education. The private sector has grown in response to demand for access to higher education in various fields. Many Indian undergraduate students study in private colleges, as many as 95% of these institutions are managed by private agencies such as religious organizations, cultural agencies, philanthropic groups, and others. Many of these receive funds from government sources and are called aided institutions. Many others receive no funds from the government. Almost all these colleges are affiliated to universities. A small number of private universities

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have been approved by the central or the state government to offer degrees. In addition, there are private specialised post-secondary institutions, mainly business schools. Some have the government’s degree granting approval, others grant only certificates. Almost all are financed by tuition payments. There are several older players like the Birla Institute of Technology and Science which have achieved considerable respect now. Also, several of India’s large corporations are in the process of starting universities, among them are Reliance Industries, Mahindra and Mahindra and the Vedanta group. They are stimulated, among other things by a recognition that many of India’s existing universities are of low quality.

Among the many areas of debate around education reform is the question of mindset. As Kaushik Basu noted in his dissenting note to the Yash Pal Committee’s recommendations on reforming higher education in India: “Our main aim must be to nurture excellence instead of spending a disproportionate amount of energy to curb the lack of it.”

Basu, who is Professor of Economics at Cornell University, points out that the US has arguably the world’s greatest universities, but also many sub-par ones. “The existence of the latter does not harm the reputation of the US as a nation of academic excellence. If there was a perfect way for the state to efficiently weed out the bad, I would be for it. But as we learnt from our experience with industrial licensing, often the effort to weed out the bad by using bureaucratic control can do more harm than good,” Basu has written.

The redoubtable Ramdas M. Pai, Chairman, Manipal Education and Medical Group, and President & Chancellor, Manipal University, says the current maze of regulations helps only the dubious players. “On paper, there is regulation. But in implementation, it’s corruption that rules. As a result, good institutions like ours are suffering. What we need are transparent regulations.”

China and India are the top two exporters of students and have been so for the past two decades. The numbers constitute close to half of the world’s total of international students. However, India’s international efforts lag behind those of China. There is already considerable foreign involvement in the country and there also is considerable potential for expansion. At least 150 foreign academic institutions had various kinds of joint degree or other collaborative arrangements in India with the largest number (66) from the US, followed by Britain (59). Both China and India because of their size, the scope of higher education market, the rise of the middle class, and academic potential are of great interest to the international academic community. China and India are to play a key international role in higher education.

The private sector has been playing an increasingly important and influential role in India’s educational sector over the past few years. In fact, at last count, over 50% of the country’s educational institutions were privately run (in the US, the private sector’s share is 32% and in China, it is 25%). As an industry, private educational institutions in India were worth $40 billion in 2008, a figure that is projected to grow to $70 billion by 2013 and $115 billion by 2018 from a demand growth perspective, if supply keeps pace.

The problems, however, are two-fold: a large demand-supply gap and average to poor quality of most privately-run institutions. There is clearly an opportunity, therefore, for more private players to enter the education space. While schooling and higher education institutes are required to be set up as ‘not-for-profit’ ventures, with mandatory registration as a Trust or

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Society, quality institutes are the need of the day. Entrepreneurs and companies wanting to invest in education, therefore, need to follow certain thumb rules.

1. Market assessment: A pragmatic assessment of the “catchment” in each segment of education is important, from the standpoint of achieving required student enrolment, before planning an investment. The catchment (in this case the travel time to and from the institute) for a pre-school student should be 30 minutes, for a K-12 day school 60 minutes, and for a residential school, this would be five hours. Demand for a vocational training institute originates from within city premises, with few students travelling across cities for enrolment. A university or a higher education institute would ideally attract students from all parts of India as well as South Asia, the Middle East and Africa and, therefore, matters would be dictated by the quality of education on offer and the reputation of the institute.

2. Key Financials: Setting up an educational institution requires access to large amounts of capital. A regular K-12 school, built over 2 acres of land with a capacity of 2,100 students, would require an investment of around Rs. 15 crores and so would an MBA institute spread over 1.5 acres with a capacity of 240 students. An engineering college with a capacity of 1,600 students spread over 10 acres of land, on the other hand, would require an investment of Rs. 100 crores. Similarly, the project cost for setting up a private university over 300 acres of land, with a capacity of 4,000 students, may be around Rs 1,500 crores. In these ventures, financial returns are attractive, with EBITDA levels of over 30% and project IRRs ranging from 25-35% levels.

3. Regulation: Shortage of quality educational institutions is a result of India’s tightly controlled regulatory structure. Education is regulated at both the Central and state government levels. Higher education has several regulatory bodies, including AICTE and UGC, but there is no umbrella body to regulate K-12 schools, nor a uniform law for schools. There are considerable entry barriers and regulations to be met, and a thorough understanding of these would, perhaps, lead to better and quality institutions.

Opportunities for entrepreneurs in the education sector

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SchoolingHigher Education

Vocational and Training

Ancillary Segments

Pre-schoolsTest Preparation

Child Skill Development

Database Management

K-12 Schools

Graduation E-LearningEnrolment Management

TutoringPost Graduation

Finishing SchoolAdmissions Outsourcing

BooksVocational & IT Training

CD-ROMS Teacher Training

Stationery

Edupreneurs

India’s 75,000 private schools account for just 7 per cent of total institutions and enrol 90 million students. The country has nearly 370 universities and 18,000 colleges, 500,000 teachers and the third-largest system in terms of enrolment with more than 10 million students. Whereas, Japan with its nearly 128 million people, has 684 universities, USA with 300 million people has 2,364 universities, and Germany with 82 million people has 330 universities.

And the appetite for a better tomorrow is only growing as aspiring families seek to give their children the greatest opportunity to succeed and prosper in the new economy. Given this, business opportunities in education are opening up virtually at every level: Kindergarten up to Standard XII (called K-12, for short), coaching classes, business schools, etc. Analysts estimate this industry to be worth $40 billion.

K-12

Market Size Regulation Opportunities Recent Developments

2008: $19.6 Billion2013: $28.8 Billion2018: $40.3 Billion

Mandatory Recognition: Required (except in some states like Punjab).

Fee structure: Not controlled.

Authority: State Dept. of Education, City Municipal Dept., Society Registrar, NCERT.

K-12 education will require 34 million additional seats by 2018.

Public education leaves a lot to be desired. 34% of school-going children attend 20% of schools (private schools).

High propensity of the middle class to spend more on education.

Yash Birla plans Rs 500 crore foray into education to open K-12 schools

Manipal K-12 is targeting to own 100 schools in the next five years.

Educomp plans to build 150 schools by 2012. GEMS Education plans to open 7 schools in 3years

HRD Ministry has announced PPP in 3500 schools out of the 6000 model schools it hopes to launch in the future

Since there is nothing wrong in principle with making a profit from K-12 education if it is conducted in accordance with suitable professional guidelines and, if necessary, regulated by minimal legislation, the benefits of such a development in the education marketplace need to be explored. If the benefits of encouraging for-profit education can be shown to be significantly superior to the current system then policy makers need to justify why such

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reforms are not being undertaken.

IBM had introduced the personal computer in 1981, the Computer Society of India had said Indian industry was hamstrung by a lack of computer professionals, and India at that time had 6,00,000 unemployed graduates. The NIIT founders saw the mother lode: making industry and education talk.

Today, NIIT is one of the world’s leading education companies, centred on the premise of employability, which in turn has become a multi-billion-dollar business that has set the pulse of old and new entrepreneurs racing. No wonder then that everybody wants in: new entrepreneurs, established players in school and higher education, private equity investors and foreign players. The terrain covers everything from test preparation, training and assessment to curriculum, teacher’s training, technology delivery and products.

Training sights

India’s education and training sector market is valued at $40 billion with a potential 16 per cent five year CAGR as per the CLSA report. Bulk of the core education space is around K-12. iDiscoveri, a company that, among other things, seeks to provide learning aids and training to educators and also business leaders.

And, it is here that many new age entrepreneurs have trained their sights on, especially after the success of Educomp Solutions, which has become a Rs 4,803-crore company on the stock market since it listed in 2006 (at the height of the market boom in January 2008, its market cap was about Rs 9,750 crore). They have opted for an ‘Intel inside’ approach and wish to participate in the school curricula by providing intelligent content, and teacher training. And the core of primary education, valued at $20 billion, is being addressed by private players as there’s clearly a huge demand for better schools from the country’s middle class. In addition, supplementary teaching is another area of growing opportunity. The CLSA report on education estimates that at least 20 million children take some form of tuition outside the classroom.

Aside from tutoring at school level, there’s an entire market for preparatory classes for students wanting admission in IITs, MBAs, medical colleges and civil services. Millions of Indian parents, eager to see their children get a seat in one of these professional courses, are coughing up sizeable sums of money into prep classes. At last count, prep institutes were pulling in $1.7 billion a year. Alongside, the opening up of aviation, financial services, telecom and modern retail has seen the market for vocational training soar, which is estimated to be worth $1.4 billion a year. Just like teacher training and finishing schools for IT, training for BPOs is another area of demand. Yet, these are just beginning to take off, with an industry size of $40 million.

Market Size Regulation Opportunities Recent Developments

Vocational & Training: $1.4

Recognition: Only for ITIs and

Industries such as logistics, healthcare,

Career Launcher readies university launch in 2010.

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billion (10%)Test Preparation: $1.5 billion (15%) E-learning: $.04 billion (40%)IT Training: $1.8 billion (40%)

polytechnics.Authority for registration: State Government.Authority for affiliation: Directorate General of Employment and Training, National Council for Vocational Training or State Council for Vocational Training.

construction, hospitality and automobiles need trained manpower.

New and viable business models in technology-enabled education.

2.5 million getting vocation training annually against an estimated 85-90 million people needing it from 2008-13.

NIIT University rolls out in September 2009.

Everonn, a technology-enabled education player, has entered formal education; to set up colleges.

Matrix Partners India invested Rs 100 crore in IIT test prep company FIITJEE.

Career Point that started as a test prep outfit has recently raised Rs 50 crore in equity capital from Franklin Templeton Private Equity Strategy.

Future of Education in India

India is already a major global force in providing higher education. But it needs to add more facilities for which it would be required to provide significant additional financial support for higher education over the coming decades. A part of this growth is also dependent on the continued expansion of the private sector and on distance education. In the coming years the private sector must be integrated into the mainstream if the growth is to be fully established.

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Case Stud ies   EDUCOMP has spotted opportunities in virtually every segment of education without getting caught in regulatory hassles. “As some of you may be aware my company Educomp Solutions is launching its IPO on Monday, 19th December. The issue will remain open till 22nd

of December. I need your support to make the issue a success. Please apply for the issue and also spread the word around. We will be the first educations company in India to be listed,” said Shantanu Prakash, Managing Director, Educomp Solutions.

He launched his initiative in 1994 and started off by trying to enter schools through IT intervention. He devised a clever way of affording schools an opportunity to get a return on investment on IT by opting for the build, operate and transfer model. “He is truly a visionary who has seen the business need that was just lying there waiting to be picked up and he’s now present in virtually every segment,” says an industry observer.

Prakash does not deny the claim: “We are an education eco-system company and have a footprint in virtually all major segments,” he says and does not mince his words on his leadership status: “We are 10 times our nearest competitor and are present in 2,900 schools through our learning aids. We currently have 23 schools in our portfolio under different brands and we hope to have 150 by July 2012. We are the largest in pre-schools and will have 2,000 such outfits by the next few years.”

The Edupreneurs of   Hyderabad Anwar started one school in a Hyderabad slum a few years ago. Today he runs four schools, is constructing a junior college for girls and wants a loan to start yet another college. Anwar is an edupreneur – a unique breed of innovative, enterprising entrepreneurs committed to delivering education in spite of insurmountable odds.  

At the entrance of Anwar’s school is a huge banner with pictures of students who received merit ranks – a brilliant strategy that recognizes the success of his students and advertises the school to parents who are choosing between the 15 other neighbourhood private schools. Anwar stands below the banner each morning for two hours talking to parents who are concerned about their children’s progress. He addresses queries ranging from school fees to complaints about the neighbourhood bully. Anwar is extremely responsive to parent’s needs – the students’ report cards have graphs depicting their performance, pictorial depictions that help illiterate parents monitor the progress of their children. To address any concerns of teacher absenteeism, Anwar is now installing cameras in all the classrooms.  

Anwar’s students have done him proud. All the classes that we visited were packed with well-dressed, disciplined, eager students who wanted to become engineers, teachers, doctors and academics. These are children of mechanics, day labourers, farmers and truck drivers. They pay Rs. 70 – Rs 200 to attend Anwar’s school because it offers a good quality education and gives them an opportunity to fulfil their dreams. 90% of the girls in Class X said that they loved Math and wanted to become engineers – it is likely that their parents will force them to discontinue their education because of the absence of a nearby college, but Anwar has a solution – he is building a college that caters exclusively to the hundreds of girls in the neighbourhood!  

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Recommendations

A rapidly growing economy like that of India demands an adequate supply of accountable and quality education. Experiences among independent private school leaders in the recent past demonstrate the need for a consolidated network of schools that is designed to deliver a high standard of education under a unified framework. A branded network of private schools that is intended for low-income communities can offer children a standardized curriculum at an affordable cost and significantly bolster the efforts of edupreneurs vis-à-vis public authorities and lenders. An enterprise of this sort can fill the void in India’s educational system. To succeed, however, it must adopt a versatile and efficient strategy, meet the needs of local communities, parents, and children, and empower school founders to build effective and sustainable institutions. It should have the following characteristics:

1. Private Schools Owned and Operated by the Poor: The delivery of sustainable and profitable local education services will depend on the empowerment of community members who wish to open and run private schools. The power of grassroots entrepreneurship is on ample display among the thousands of existing private school owners. If these edupreneurs are provided with necessary resources and support structures, they will continue to thrive and revolutionize the educational system.

2. Local Entity, National Identity: Although they will be integrated under a common brand, portfolio schools will have to be adapted to meet local requirements. Parents are known for peculiar needs throughout various sections of the country. A catered local approach will ensure that all stakeholders are satisfied.

3. Industrial Strength Standardization: Starting a school in India is an arduous task. The school owner must spend several years addressing government mandates, and then struggle to find teachers, procure materials, and build a sustainable institution. Resources from a consolidated private school network can dramatically expedite the start-up process; consider for instance, a sort of plug-and-play model that comes with all of the materials that are required to start and run a school—for example, government paperwork, training material for teachers, standardized curricula, and more.

4. Reliable Process for Selecting Edupreneurs: Individual edupreneurs will form the backbone of the school network. While consistent performance metrics are vital, network managers must identify edupreneurs who are both proficient in their work and capable of driving change under adverse circumstances. Commitment to education, acumen in business, creativity, ingenuity, and honesty constitute the most valuable skill set.

5. Investment Strategy: Making judicious investments is a balancing act. The network will need to establish a rigorous investment process that takes into account the disparate financial needs of various schools. Partnerships with banks and other financial institutions will be critical to ensuring the right mix of loans, guarantees, and equity financing.

6. Scalable Investment Model: The network must create a sustainable, scalable, and portable investment model. A good model for investing in private schools will encompass a variety of elements, including franchisee fees, default strategies, and revenue collection cycles.

7. Communications Strategy: Given mainstream perceptions in India that education is a public good that should be free of cost; the network must devise a well-equipped communications campaign. To manage the challenges of edupreneurs as they struggle to ensure order in their schools, the franchise must put support services and public

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relations resources at their disposal. With an effective communication mechanism, school founders can keep parents well-informed about school performance.

8. Strategy for Fostering Innovation: The network will need to encourage innovation in teaching methodologies, learning techniques, and school governance among its edupreneurs to ensure that the curricula have a marked effect on student trajectories.

9. Equity for Edupreneurs: To align the incentives of all stakeholders, edupreneurs must be made equity holders in the enterprise.

The above are recommendations to the edupreneurs. However, without the right infrastructure to support them, no action on their part will result in a better education system. There are important lessons for education policymakers in India as well. Education entrepreneurs need to be encouraged by removing rules that hinder the establishment and operation of schools in the primary, secondary and higher secondary areas of education. Competing schools will create choices for parents, improving access and quality for all. The government can then focus its limited education budget on the neediest sections of society.

Inadequate education in India is not only a funding problem but also a result of over-regulation of the school market. The burgeoning market of low-budget private schools has enormous potential.

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Bibliography

Business Today magazine, issue of September 20, 2009

Economic and Political Weekly magazine, issue of July 18-24, 2009

http://www.bigedupreneur.com

http://thesparkgroup.wordpress.com

http://www.edentrepreneurs.org/edupreneur.phtml

http://www.business-opportunties.com

http://www.financialexpress.com/news/fdi-in-education-sector

http://www.business-standard.com/india/news

http://www.chillibreeze.com/articles_various/edupreneurs.asp

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