Entrepreneurship development

1. ENTREPRENEURSHIP
DEVELOPMENT
Business Administration
Prof. Hitesh Sharma

2. Entrepreneur

3. Entrepreneur
 An entrepreneur is an individual who, rather than working
as an employee, founds and runs a small business,
assuming all the risks and rewards of the venture.The
entrepreneur is commonly seen as an innovator, a source of
new ideas, goods, services and business/or procedures.
 Entrepreneurs play a key role in any economy.These are
the people who have the skills and initiative necessary to
anticipate current and future needs and bring good new
ideas to market. Entrepreneurs who prove to be successful
in taking on the risks of a startup are rewarded with profits,
fame and continued growth opportunities.Those who fail
suffer losses and become less prevalent in the markets.

4. Characteristics of Entrepreneurs
 Creative
 Passionate
 Motivated
 Optimistic
 Future-oriented
 Persuasive
 Flexible
 Resourceful
 Adventurous
 Decisive

5. Need for Entrepreneurship Development
 Creation of Employment Opportunities
 Capital Formation
 Balanced Regional Development
 Use of Local Resources
 Improvement in per Capital Income
 Improvement in the Standard of Living
 Economic Independence
 Preventing Industrial Slums
 Reducing SocialTension
 Facilitating Overall Development

6. Entrepreneurship Development Process
 Discovery
 Developing a Business Plan
 Resourcing
 Managing the company
 Harvesting

7. Role of Start up in Entrepreneurship Development
Start up India: Boosting Entrepreneurship
 Government of India launched Startup India campaign
to encourage entrepreneurship in India’s young
generation who despite being skilled and able to
launch their own ventures become dependent upon
various types of jobs and remain under employed.
 India as the youngest nation in the world and huge
overall population has one of the largest consumer
base in the world. For every unique need of every
segment of population there is opportunity for new
venture.

8. Role of Start up in Entrepreneurship Development
Start-up Key facts
 A startup is an entity that is headquartered in India which
was opened less than seven years ago and has an annual
turnover less than Rs. 25crore.
 Ministry of HRD, Department of Science andTechnology
have partnered in an initiative to set up 75 Startup support
hubs in the National Institutes ofTechnology (NITs), IITs,
IISERs and NIPERs.
 The Reserve Bank of India has assured to take steps to help
improve the ‘ease of doing business’ in the country and
contribute to an ecosystem that is conducive for the growth
of start-up businesses

9. Success of Startup India campaign
 In last 2-3 years, there has been increase in startups in
versatile areas like retail, food delivery, consulting, e-
commerce, medical services, delivery services, fitness
among others.
 On an average 800 startups are born every year.
Startups are evolving in terms of product capabilities,
networking, taking calculated risks venturing into new
spaces.
 Delhi NCR and Bangalore has highest number of
startups predominantly because of economic activities
of population of both cities.

10. Success of Startup India campaign
 Cities like Jaipur, Chandigarh, Chennai, and Jodhpur are
witnessing increasing startup activities.Southern States like
Karnataka, Kerala, Andhra Pradesh and Telangana have
shown better results than the rest of the country in terms of
their policies implementations for supporting startups.
 Launch of "Kerala IT Mission", which focus on fetching Rs.50
billion in investments for the State's startup ecosystem is a
great example. Kerala has made India's first telecom
incubator Startup village in 2012.
 Madhya Pradesh has collaborated with the Small Industries
Development Bank of India ISIDBI) to create a fund of Rs.
200 crore for Startup India campaign.

11. Success of Startup India campaign
 Andhra Pradesh has allocated a 17,000-sq.ft.Technological
Research and Innovation Park as a Research and
Development laboratory. It has also created a fund called
"Initial Innovation Fund" of Rs.100 crore for entrepreneurs.
 Google has declared to launch a startup on the basis of the
highest votes in which the top three startups will be
allowed to join the next Google Launch pad Week, and the
final winner could win an amount of US$100,000 in Google
cloud credits.
 Oracle has announced to set up nine incubation centers in
Bangalore, Chennai, Gurgaon, Hyderabad, Mumbai, Noida,
Pune,Trivandrum andVijaywada.