Honorary Doctorate for Entrepreneurs: Recognition Without Academics 

Have you heard of many famous personalities earning a PhD without even studying for it? Do you also want to earn the same? You might be capable of earning one if you possess extraordinary qualities. Earning an honorary doctorate is easier and takes only 3-4 months. 

There are many individuals who have never earned an Honorary Doctorate but keep working for the betterment of society in many ways. These people can earn an honorary doctorate too if they wish to do so. An Honorary Doctorate is earned on the basis of your achievement and not your age or academic qualifications. 

In this article, we will explore the Honorary Doctorate for Entrepreneurs, but only with an equal understanding of what entrepreneurship is and how one can pursue it. Along with it, we will explore about honorary doctorate and its benefits.  

Table Of Content

What is Entrepreneurship and Entrepreneur? 

The ability and readiness to develop, organize and run a business while handling its profits and losses alongside is known as entrepreneurship. Starting a new business is equivalent to entrepreneurship.  

An entrepreneur is someone who identifies a market opportunity and establishes a venture, taking on both risks and rewards. Being an entrepreneur is not easy at an early level when the chances of defeat and collapse are possible. But an entrepreneur makes sure to not let negatives affect them.  

Mark Zukerberg, Jeff Bezos, Sara Blakely, Oprah Winfrey are some of the entrepreneurs who stood back up each time to be where they are today. 

Importance of Entrepreneurship 

Entrepreneurs have the possibility of transforming their ideas into reality. They fuel fire for every individual who wants to dream big and shine. Entrepreneurs are very important. Below are some of the reasons stated: 

1. Economic Growth: Entrepreneurship promises growth in jobs to boost the economy. Starting as a small business doesn’t only help the entrepreneur gain something, but also individuals who are looking for experiences.  

A perfect example of this is Falguni Nayar who started Nykaa. She is a self-made billionaire who not only gains profits out of it, but almost all the companies who collaborate with her. In addition to that, she also provided more people with employment opportunities and increased the country’s GDP. 

2. Competition and Diversity: With so many entrepreneurs coming into the fields recently, market diversity keeps on expanding, presenting more job opportunities for those in need. Alongside, it also provides the consumers with a chance to run a test trial on the desired product for a comparison.  

A good example of this could be Ola’s founder Bhavish Aggarwal who introduced Uber’s Indian version thus providing with a competition to other entrepreneurs including Rapido. 

3. Global Impact: Sometimes an entrepreneur’s business idea creates an internet sensationalism. The products or the ideas pitched in are loved and experimented with worldwide. 

A perfect example of this would be UPI Payments developed by NPCI wherein Nandan Nilekani played an important role in its implementation. UPI Payments was first started in India and is an ongoing process of being developed in other nations. 

4. Community Development: Entrepreneurship often also explores the aspects of community development, offering more than economic benefits. It creates a social and cultural impact on the lives of people who are in need, thereby focusing on a sense of belonging.  

Anand Mahindra who is the chairman of Mahindra Group has impacted the lives of many individuals through various programs. He launched initiatives like Nanhi Kali which fosters the education of underprivileged girls.  

What is an Honorary Doctorate? 

An Honorary Doctorate degree is a recognized award given to those who have done something exceptionally well for the betterment of society or in any field including humanities, sciences business, education or any other sector. It adds the doctorate (Dr.) title before your name, making you prestigious and a respected man worldwide. 

Honorary Doctorate Award is usually offered by the universities or colleges itself, especially in the case of a famous personality. They are invited for their Honorary Doctorate Achievement in their specific field. 

To get an Honorary Doctorate in India, one should build a strong record of their achievements in the form of events, interviews, awards, testimonies of individuals whose life was changed. Then, a nomination is filed by someone on your behalf. And this process almost takes four months to complete before you are awarded an Honorary Doctorate. 

Types of Honorary Doctorate 

The title of Honorary Doctorate is awarded in various fields for work and study. It doesn’t limit itself to one. Below mentioned are some types of Honorary Doctorate: 

 Benefits of Honorary Doctorate for Entrepreneurs 

The Honorary Doctorate comes with its own terms and benefits that are too many to count. But an honorary doctorate for entrepreneurs also helps them gain something better and for an achievable recognition. Below are some of the benefits of Honorary Doctorate for entrepreneurs: 

1.Recognition: With a doctoral title, an entrepreneur gains some sense of pride and even trust amongst individuals who want to join their firms. It gives a sense of credibility even for the employees, making the entrepreneurs gain validation.  

2. Networking Opportunities: Honorary Doctorate for Entrepreneurs is the perfect opportunity to network and collaborate with individuals who match your skills. Along with that, one also gets to learn about another entrepreneur and collaborate where they match. 

3. Inspiration: With an Honorary Doctorate for Entrepreneurs, the employees and other recruiters can take inspiration to pursue a higher degree. It also urges others to make use of their own skillset and explore and build something new.  

4. Opportunities in Education and Leadership Roles: An Entrepreneur with an Honorary Degree can also become a speaker in bigger platforms like TEDx or even in educational institutes inspiring others. It also helps them have access to various leadership roles and responsibilities even in other institutes.

Honorary Doctorate for Entrepreneurs 

An Honorary Doctorate for Entrepreneurs is an award and a degree that is designated for individuals who have done exceptional work in the field of business, innovation or society. One does not need to know the basics of business to possess this degree. No educational qualification or age limitation restricts them. 

Below is a list of some of the famous personalities who have earned an Honorary Doctorate for Entrepreneurship: 

1. Azim Premji, Wipro
2. Anand Mahindra, Mahindra Group
3. Narayana Murthy, Infosys
4. Tsitsi Masiyiwa, Higherlife Foundation
5. John ‘Foxy’ Robinson, recognition of his contributions to regional tourism and philanthropy 

Conclusion 

Honorary Doctorate for Entrepreneurs are important as they built global or even national business enterprises. With entrepreneurs, the industry is always transforming. They have meaningfully contributed to society through their limited knowledge and sometimes limited resources.  

An Honorary Doctorate is an award and a degree at the same time. Not only does it recognize talent but also makes an individual work harder by putting in more efforts for the betterment of the society.  

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