Woxsen School of Business said it will invest Rs 500 crore at its upcoming 200-acre campus at Sadasivapet, Hyderabad.
Conceived by UK-based entrepreneur Praveen Pula, the first phase is scheduled for launch by February, 2014. Woxsen has filed for an AICTE accreditation and is awaiting an approval from respective authorities.
Of the Rs 500 crore, phase I involves an investment of Rs 100 crore, which is fully funded by the promoter, while the subsequent phases are expected to have participation from institutional investors.
“To begin with, we are offering a one-year and two-year course and each will have an intake of 120 students,” said Dr R Narasimhan, Dean, Woxsen School of Business.
The campus is expected to accommodate about 1,800 students in the long-run.
“We have conceived the idea of Woxsen School of Business to fuel this entrepreneurial spirit through structured training, best-in-class management programmes, global educational resources and best practices. We further aim to establish Woxsen School of Business as one of the FT top 20 premier business schools by 2020,” Pula said.
Woxen’s philosophy is to nurture entrepreneurship among students and take them to fruition with the support of external experts, corporate mentors, other resources and access to seed capital.
The business school is currently in the process of setting up an endowment fund worth Rs 1,000 crore, which could be used to fund student’s ideas.
“We will have an equity participation in ideas which are worthy of being developed into a business,” said Narasimhan adding that of the 120 students in each programme, the business school hopes at least 30 per cent students will qualify to get access to the seed fund.
The proposed fund will have contribution from Woxsen, corporates and angel investors.
Currently, however, it is yet to rope in its anchor corporate client.