"Innovators" and not "Interns"

“Innovation is the ability see change as an opportunity - not a threat” - Steve Jobs?

About roughly 10% of the global workforce today falls into the category that most deem to be novice, inexperienced and mildly skilled, the interns. But is that the ground reality? Or can corporations actually use interns to capitalize on innovation and bring a culture of creation and ideation using them??

Recently, my friend Jay Doshi asked me to answer some interesting questions about corporates leveraging Interns while speaking at an event together. This made me think about it a bit more and write this piece

Users are only getting younger

With approximately 40% of our country’s population between the age of 18 to 45, users of products are only getting younger by the day. They seek unique, fast, and practical innovations in the product world.? The new generation of interns represents a cohort that is tech-savvy, socially conscious, and driven by purpose. Their expectations and understanding is vastly different from those of previous generations. They seek meaningful work, a sense of belonging, and personal and professional growth opportunities. They seek to keep innovating, they want to be kept on their feet, seeking new opportunities, experimenting with new tech and pushing boundaries with fresh ideas. But more importantly, They are more in tune with the world of crypto, AI, and robotics. With still a better grasp of maths, science & engineering (compared to these who left college many years before).

There are some lovely examples in my own portfolio which I believe is not easy for some one who is not in college to visualize/ build quickly. Consider for example Zeru (HTTP://zerufinance), who is trying to solve the problems of collateralized credit by focusing on web3 world, or Sonicscape, who is trying to solve the problem of alerting for preventive maintenance on shopfloors without a baseline of dataset in a manufacturing setup. Some of these companies are hard to build outside campus if not impossible.

Corporates have a real opportunity here and can use the spirit of the young generation to push the limits on innovation. A survey by the National Association of Colleges and Employers (NACE) found that 91% of employers consider soft skills such as teamwork and communication to be essential for interns. Wish they had considered the ability of the younger generation to innovate & solve larger problems. Results will be far different..?

Learning Fresh and Unlearning Fresh?

The traditional methods of training and onboarding are becoming obsolete. With rapid advancements in technology and changing business dynamics, there’s a need for companies to adopt a more flexible and adaptive approach. New world order requires different thinking, AI and Web3 first thinking. Interns come with that fresh mindset and thinking, unburdened by the constraints of outdated practices. They are eager to learn and equally ready to challenge the status quo, prompting organizations to rethink their strategies and methodologies.

For instance, one of the intern teams working with us always struggled with market research and consumer behavior. So they decided to take matters into their own hands and created Consuma, a market research engine powered by AI. Today, Consuma (consuma.ai) is a fully functional business with big ticket clients across the country.??

A newer approach, low hierarchy and hands - on?

The era of rigid hierarchies is fading. Modern businesses are moving towards flatter organizational structures where collaboration and hands-on involvement are key. Interns thrive in environments where they can directly contribute and see the impact of their work. A low hierarchy setup not only fosters creativity and innovation but also empowers interns to take ownership of their tasks.

At Facebook, interns are given significant responsibilities and often see their projects go live during their tenure. This hands-on approach accelerates their learning curve and provides them with real-world experience that is invaluable for their future careers. This approach has proven effective, with over 50% of Facebook’s interns converting to full-time employees.

Freshers Today Are Skilled

“Get me a cup of coffee”, “Bring me 5 copies of this document”, “Can you order lunch for me?” Gone are the days when interns were viewed as assistants & inexperienced novices. Today's freshers enter the workforce with a plethora of skills and knowledge, thanks to advancements in education and access to information. Many have undertaken complex projects, mastered new technologies, and even initiated startups of their own. They perhaps better understand the next release of google AI than you and I!

According to a LinkedIn study, 81% of talent professionals agree that talent is being judged by skills over experience. By tapping into this reservoir of talent, companies can gain fresh insights and innovative ideas that can propel their business forward. For example, Microsoft's Garage Internship Program enables interns to work on cutting-edge projects, some of which have led to significant innovations within the company.

Conclusion

Interns represent a new frontier in the corporate world, offering a blend of fresh perspectives, modern skills, and a drive to innovate. By embracing their potential, businesses cannot only stay relevant in a rapidly changing market but also cultivate a culture of continuous learning and growth.

It’s time to see interns not just as learners but as valuable contributors to the future of business.

At our foundation, CampusCoCreate we have been pushing towards understanding the full potential of the younger workforce. We have been working with corporations to understand how they can foster more innovation throughout their pipelines.?

It is high time we leverage the talent and innovation that interns bring can provide a significant competitive advantage. Let’s learn, unlearn, and grow together with this new wave of talent.