Stanford Seed, a business leaders training initiative by the Stanford Graduate School of Business (GSB), has announced its expansion to India. The 12-month program that begins on August 27 in Chennai will have the faculty and trained local facilitators help participants create and activate a detailed action plan for scaling up the growth of their company.
The program is for founders and senior leaders of for-profit companies who want to grow and scale their companies, thereby creating jobs, products, or services that benefit those living in poverty, GSB says in a press release.
The companies should have an annual revenue between US $150,000 and US $15 million and should be headquartered, legally registered and currently operating within India.
The Program Fee is US $5,000 (including VAT). While breakfast, lunch, snacks and most dinners are provided during the program, lodging and transportation are not included. On successful completion of the program, the participants will receive the Stanford GSB Statement of Completion.
“We are five years into our journey, and just getting started. We believe – and have seen first-hand – that this unique model can help some of the most dynamic business leaders in these regions drive the kinds of firm growth that underlie sustainable regional prosperity. We are very eager to see its impact in India,”
The Seed Transformation Program was first launched in West Africa in 2013 and subsequently expanded to East Africa in 2016. More than 500 business leaders have so far participated in the program.
“The impact of Seed in West and East Africa has been astounding, with nearly two-thirds of participants reporting increased revenue and job creation,” say Jesper Sørensen, Robert A. and Elizabeth R. Jeffe Professor of Organizational Behavior at the GSB and executive director of Seed.
“We are five years into our journey, and just getting started. We believe – and have seen first-hand – that this unique model can help some of the most dynamic business leaders in these regions drive the kinds of firm growth that underlie sustainable regional prosperity. We are very eager to see its impact in India,” they add.
Seed consists of three distinct yet complementary programs: the Seed Transformation Program, a year-long, on-the-ground leadership program for the founders and leaders of small and medium-sized enterprises; Seed Student Programs, providing educational opportunities and summer internships at participating companies; and Seed Research, which provides funding for critical research to discover breakthrough solutions to promote prosperity throughout the developing world.
The program has immersive class sessions in each region, taught by Stanford GSB faculty, with ongoing support and leadership development delivered by trained local Seed staff. Participants engage in four intensive, week-long sessions over the course of nine months on topics such as leadership, strategy, business ethics, accounting, marketing and value chain innovations.
In the intervening weeks, skilled facilitators assist participants in applying insights from the classroom, developing their leadership teams and formulating a detailed plan for organisational transformation and growth.
In addition, Seed facilitators work with participants in carefully constructed leadership peer groups, offering networking opportunities, resources and ideas to help implement the participants’ transformation plans. Following completion of the Seed Transformation Program, participants may apply to receive high-touch coaching as well as access to Stanford student interns and Seed consultants.
After Seed’s founding in 2011, the first Seed Transformation Program launched in Accra, Ghana, in 2013 and expanded to Nairobi, Kenya, in 2016. Since then, the Seed Transformation Program has trained and mentored 565 entrepreneurs and senior staff members, leading to increased revenue and new job creation throughout the region. In addition, participating companies have raised almost $11 million in funding and 79% have grown their customer base.
Building on its success in Africa, Seed is expanding the program into India through its new location in Chennai, which will serve entrepreneurs from across the country. The first annual program will run from August 2017 to August 2018 and will be held at the state-of-the-art Infosys corporate campus.
“India is the world’s second-most populous country, known for its entrepreneurial dynamism. We know from experience, however, that starting a company is different from making it grow, and that sustainable economic growth depends on firms solving the puzzle of scaling. The Seed Transformation Program leverages Stanford’s deep insights into the leadership of rapidly growing enterprises. We believe that by transforming leaders and companies through this program we can contribute to increased prosperity for the companies and, more importantly, their communities,” Sørensen said.
The application period is now open for the Seed Transformation Program, with applications in India due May 26, and applications in East and West Africa due June 30.(Image Source:wikipedia.org)
