Creating Entrepreneurship Culture: A National Growth Strategy
“The Economic Greatness of a Nation is Energized by Strength and Vitality of its Entrepreneurs”
In order to Develop the entrepreneurial eco-system can be develop in two ways – ‘creating’ New entrepreneurs and ‘supporting’ the new ones. Both aspects of entrepreneurial development growth will boost the economy of nation. While creating new entrepreneurs is focused on inspiring and imparting knowledge to students, developing their skills and building networks to enable them to pursue entrepreneurial careers; supporting emerging entrepreneurs is pursued by providing them to access to experts with relevant, high quality knowledge, skill-building programs and mentoring, funding and hiring networks.
Entrepreneurs are essential to job growth, wage growth and overall economic development in any country, especially in emerging countries. In order to foster with economic development the country also ensure R&D based Entrepreneurial development that meets current global targets.India needs to create 1-1.5 crore jobs per year for next decade to provide gainful employment to its young population. Accelerating entrepreneurship and business creation is crucial for such large-scale employment generation. However, Entrepreneurship ecosystem in India has been self driven, without any significant support from institutional initiatives. This is evident from tracers on students who graduate from higher educational institutions, who typically proceed either to join existing firms, or pursue higher studies with the number of student selecting entrepreneurship in India lagging behind those of high growth economies.
Various Entrepreneurial Development Institutes:
- Entrepreneurial Development Institute of India, EDII Ahemdabad
- National Institute for Entrepreneurship and Small Business Development, NIESBUD Noida
- National Entrepreneurship Network, NEN Wadhwani Foundation
- Skill Development Network, SDN Wadhwani Foundation
- Research & Innovation Network, RIN Wadhwani Foundation
- Ministry of Skill Development and Entrepreneurship
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6 Comments. Leave new
We often give up after getting failed, but it should be seen like a filtration process. Maybe we would not be able to achieve that desired goal, what we always expect. But it always helps in executing our future plans better.
And this thing, we can relate with entrepreneurship, as maybe one has to go through several hardships in the beginning, but when it strikes the bullseye, it will carry us along beyond the horizon.
Very well written! The post also focuses on the issue of less initiatives taken by institutions and government. I hope that young people are motivated and inspired by successful businessmen and impactful people to be new entrepreneurs.
Well written…!
Sad to say but our country is far behind in supporting entrepreneurship.. Society too doesn’t value them.. Indians have a craze on government jobs or just a job.. Business is too risky in their view.. It should be changed.. Government should support startups..
I aggree to the above comment 😀 as INDIA being a Entrepreneur is really a difficult one .until and unless we get a platform or a virtual incubator with which we can analyse overself 😀
Nicely wriiten 😀
Good work 😀
good job