SUBMITTED BY Miss. Ramneek Kelsang Bawa RESEARCH SCHOLAR, PHD. Human Resource Management

UNDER GUIDENCE FROM Prof.Kuldeep Rojhae Prof .A.V. Narula

1 )Albert Shapero, Entrepreneurship and Economic Development, Project ISEED, Ltd. (Milwaukee, WI: Center for Venture Management, summer 1975), p. 187.

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Topic Preface Introduction Scope Objectives Organisational structure, Roles, Responsibilities Operations Events and Activities EDC calendar Guidelines and roles Documentation Associations Benchmarking and audit Branding and marketing

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1 )Albert Shapero, Entrepreneurship and Economic Development, Project ISEED, Ltd. (Milwaukee, WI: Center for Venture Management, summer 1975), p. 187.

Large number of EDP trainers and motivators are being trained to significantly expand the Entrepreneurship Development Programmes (EDP). p.Delhi Government’s Stree Shakti Project. Schemes of Delhi Commission for Women (Related to Skill development and training). Agribusiness. Incentives to Women Entrepreneurs Scheme. And himachal Pradesh has some were been on back foot in entrepreneur development or in better sense still has a vast opportunity to perform. Like CII. Industry Associations is also encouraged to participate in this venture 3 1 )Albert Shapero. Financing.Preface The presence of entrepreneurs and the initiative to develop more entrepreneurs is very important to not only the individual but also the whole community. Entrepreneurship and Economic Development. India as a country has formulated a National Entrepreneurship Policy with the overarching aim to augment the supply of entrepreneurs. labour and knowledge. with present resources of land. (Milwaukee. opportunity and skills with the primary objective of encouraging people to venture out. The Government of India has various schemes like Entrepreneur development cell. It usually focuses on motivation. promotion. and tries to change the mind-set of target group. a single initiative to encourage entrepreneurs can make a lot of difference. WI: Center for Venture Management. Handicrafts. it aims at making entrepreneurship a movement. SIDBI Initiative. Entrepreneurship in Agriculture & Allied Sectors. skill development. many success stories which are now behaving like a catalyst to the Indian economy and buffer against negative times in the economy are a result of encouragement given to entrepreneurs. And not only government of India is active but also MNC are encouraging entrepreneur development cells. Government. Project ISEED. Knowledge and Human resource. networking and mentoring. The Entrepreneurship Policy encompasses multiple stages in the emergence of an enterprise from pre-start to stabilisation and growth. 2008. Every state of India has done its part and put in its effort in this initiative. In short. summer 1975). Kerala Government’s Women Industries Programme . Government of Goa. and Government is continuously taking initiatives and supporting first generation entrepreneur through training. Incubator centres. India has a rich history of entrepreneurs who turned their idea into multinational companies. The thrust areas of entrepreneurship in Himachal Pradesh being tourism. . Ltd. 187. The entrepreneur development initiative is the best and the most effective way of giving back to the society and also providing the idea bearers a platform to make their dream come true. horticulture. Entrepreneurship policy uses ‘soft’ policy measures such as awareness. renewable energy resources and many more needs entrepreneurs to take initiative. NATIONAL If we try to simplify the different initiatives of government in entrepreneur development it can be jotted down as       Rural Entrepreneurship Women entrepreneurship Small scale and medium industry entrepreneurship Tiny enterprise(below 2 to 5 Lakh capital investment) Agriculture and allied sectors entrepreneurship And many more.

Ekta Kapoor and many more. We call this an epic journey. Dhumal said that Himachal Pradesh had introduced various ambitious schemes to attract the tourists in last four and a half years. INSTITUTE FOR MICRO. Jamsetji Tata. Success story: true first generation entrepreneur. like Televisions Components. etc 4 1 )Albert Shapero. teaching faculty etc. summer 1975). SSI’s were engaged in the production of traditional items. from which we can all take inspiration from. Himachal Pradesh urged the entrepreneurs to invest in tourism sector in Himachal Pradesh as State has tremendous potential for the same. scaling up of existing businesses  Media. Prof. Computer Components. ‘Har Ghar Kuchh Kehata Hai’. and Home Stay Scheme etc. and started manufacturing crankshafts from motorcycles. LDPE/HDPE pipe.Sunil Mittal borrowed money from his father in 1976 when he was 18. For example: iAccelerator powered By Tata Communications. but there is ample scope in other areas too. Adi Godrej. 187. Watch Components. NATIONAL INSTITUTE FOR ENTREPRENEURSHIP AND SMALL BUSINESS DEVELOPMENT (NIESBUD). Project ISEED.  IT Industry for providing the mentorship programme. . NOIDA. industrialization in the state has gained further momentum during the last two decades. He is the founder and chairman of the Bharti Group .for highlighting the success stories. Sunil Mittal has been awarded the Padma Bhushan and has a net worth in excess of $8 billion. p. popularly known as Lijjat.  Professional Service Providers.  Students who are the next generation entrepreneurs  Existing Small Entrepreneurs who are looking for an opportunity to scale  Angel Investors/ Venture Capitalists/Financial Institutions who are interested in financing start ups.effectively. Shri Mahila Griha Udyog Lijjat Papad. The important among these were ‘Har Gaon Ki Kahani’. SMALL AND MEDIUM ENTERPRISES (NI-MSME). Many states have excelled in the entrepreneurship for example. Entrepreneurship and Economic Development. organized by Department of Tourism and Civil Aviation. Ltd. GUWAHATI. And if we observe himachal Pradesh Chief Minister Prem Kumar Dhumal in an interactive session in Travel and Tourism Fair at Kolkata.  Academic Institutions for providing course ware. HYDERABAD. but now the industries in Himachal Pradesh are producing high technology precision items.Chartered Accountants. (Milwaukee.for building and creating an eco system to nurture entrepreneurs.etc. etc. WI: Center for Venture Management. INDIAN INSTITUTE OF ENTREPRENEURSHIP (IIE). Textiles. Lawyers specializing Intellectual Property Rights etc who will provide the requisite professional assistance. coordination. Azim premji. He has never looked back since then. Due to development of infrastructure and continuous efforts on the part of State as well as Central Govt. And to advance the country into 21st century with growth so that the benefits are widely shared among the stake holders for example :  Administration. By studying the industrial profile of the himachal Pradesh we get to know that not only tourism but Small Scale Industries are gradually increasing in the state.

Contribute for entrepreneurship development so that the young generation of Himachal Pradesh benefits through the infrastructure and the resource provided by the EDC at graduate and post graduate level. Introduction The entrepreneurs have been the whistleblowers of change and getting the things done themselves. summer 1975). private organisations for the training. with the seed of a basic idea an entrepreneur takes calculated financial risks and collaborating skilled people to start an enterprise. (Milwaukee. Ltd. 5 1 )Albert Shapero. The foundation of life science and business management at its Shoolini University since its inception 2003-04 has always endvour to positively With the motto of working in areas of higher education and research. and helping set up entrepreneurial ventures in biotechnology and related fields. As an accredited university under UGC and AICTE. This basic instinct of trusting on your ownself makes an entrepreneur different from a business man. p.A good number of MSMEs have come up in the state particularly in Solan. Project ISEED. Which will formalize the working of EDC and also amidst in receiving institutional support from various government. RIFD/10(04)/2012-13. semi government. Entrepreneurship has some element of innovation and growth potential. Shoolini University intends to participate in AICTE quality improvement schemes2012-13 wide advertisement no. An entrepreneur is the one who thinks out of the box and explores the opportunities in the market place. 187. With calculated risks and intensive market research a person turns an idea into a business. Sirmour and Una districts of the state which has changed the industrial scenario of the state substantially. WI: Center for Venture Management. . every self-employed person is not an entrepreneur Entrepreneurs bring productivity gains through innovations and enhance competitiveness. development and resource support to young entrepreneurs. In this regard the proposal for EDC at department of management sciences is being proposed. He/she try to arrange resources required to exploit these opportunities for long term gain. Entrepreneurs are creators of enterprises and companies where as a business man is the one who attaches himself to the organisation for survival and growth. If we compare both of them the entrepreneur has a much more farsighted and growth oriented at community level where as a business man is confined to his own growth and development. Entrepreneurship and Economic Development. Every person has a business idea but the one who try to make it possible is an entrepreneur.

A research by earnst and young on G 20 countries state that the economy which has a strong entrepreneurial culture is the foundation of a dynamic economy. Ltd. A strong entrepreneurial culture means there is less off stigma associated with failure and recognizes the crucial role of entrepreneurs in creating new jobs. 187. . Project ISEED. (Milwaukee. where more than 90% of respondents perceive the culture to be conducive to entrepreneurship. p. Especially impressive are the performances of India and China. summer 1975).And for this entrepreneurship it is important to polish the crude gem by entrepreneurship and development initiative. The research also found out that a culture of entrepreneurship is particularly strong in the rapid–growth markets. WI: Center for Venture Management. 6 1 )Albert Shapero. Entrepreneurship and Economic Development.

managing human resources. uniqueness of monetary ventures.. pecuniary transactions.840 from the time when the president has taken oven the charge. For this the economy had to work upon the same for 41 months without any postponement. For these jobs the American workforces are taking back home hefty amounts. Entrepreneurial undertakings are now being introduced to college going students which could give them an idea of creating and managing firms. Ltd. WI: Center for Venture Management. 187. The growth of America is in leaps and bounds and that is all because of the insistence and efficiency of American entrepreneurs. India established its trade relationship with Roman Empire. p. In the pre colonial times the Indian trade and business was at its peak. providing jobs. legality in dealings. (Milwaukee.D. Post tax earnings have gone up by 9. Kanishka Empire in the 1st century started nurturing Indian entrepreneurs and traders. Entrepreneurship and Economic Development. . It was true that agriculture was the dominant occupation of her people but the products of Indian industries enjoyed a worldwide reputation. the sarees of Banaras and other cotton fabrics were known to the foreigners. and grasping of opportunity and it is all because of prevalence of entrepreneurial culture in the economy. in around 1600 A. Project ISEED.2 millions which is more than the total jobs being generated in Japan and Europe. 7 1 )Albert Shapero. adaptability. The above statement can be well supported with the help of factual data given. Indians were experts in smelting of metals such as brass and tin.6% that is $2. The muslin of Dacca. summer 1975). relevance of entrepreneurship firms to European financial system. Recently a number of fresh opportunities for entrepreneurial proposals are being dug up in European economy. the calicos of Bengal. Egyptian mummies dating back to 2000 B.C.Table of success stories across the world: NAME BILL GATES Area IT Mark Elliot Zuckerberg Social Network Venkata Subramanian Agriculture+ Narayana Murthy John Mackey Muhammad Yunus Country USA USA India India Austin Bangladesh What Microsoft Facebook eFarm When 1975 2003 2000 1981 1962 1983 technology IT food store economic Infosys Wal-Mart Grameen Bank a) What role does entrepreneurship play in America: American economy is well known for its flexibility. b) Importance of entrepreneurship in European economy: The importance of entrepreneurial activities was realized by the European economy in the year 1980. taking into account the period 2003 to 2007 the generation of employment has reached 7. and learning entrepreneurial skills. The popular belief that India had never been an industrial country is incorrect. The entrepreneurs are today seen as the catalyst which speeds up the process of creating wealth for the economy. and providing an assorted range of goods and services to the consumers. Following that period. were wrapped in Indian muslin.

which promoted import substitution to attain economic freedom from the West. government contacts. In 1991. one that focused on ICT (Information and Communication Technology) and created wealth for owners and employees. competitive environment. success had come from the close-knit joint family structure that fosters family values. I explain the changes that family businesses would have to make below. Family businesses. Liberalization.undertaken by Goldman Sachs Pricewaterhouse Coopers. thus changing the competitive landscape. the Indian government liberalized the economy. needed to evolve and become more institutional. A few existing Indian business families adapted to the new economic policy while others struggled. Business goals reflected a continuation of the ‘Swadeshi’ movement. have estimated that India has the potential to be among the world’s leading economies by 2050 and tis is possible because of vast opportunity for entrepreneurs like democratic open society. Indian business success was a function of ambition. which formed the backbone of the economy. WI: Center for Venture Management. Wealth from the businesses supported the joint family by providing a social safety net for members. generations lived and worked together under one roof. To support this statement the GEM gave the graph: Opportunity-Based Entrepreneurial Activity and 2002 Projected Growth in GDP 8 1 )Albert Shapero. 187. family-managed businesses. Project ISEED. licenses. p. Pre-1991 policies were inward looking and geared towards the attainment of self-reliance. Indian businesses had to change their focus and re-orient their outlook outward. Importantly. capital was limited and India had very few success stories. For the old business houses. . Entrepreneurship and Economic Development. strong technology base vibrant capital market including growing private equity and venture capital markets. and an understanding of the bureaucratic system. which dominated Indian markets. Seed bed for innovation SCOPE The importance of entrepreneurship is due its vast effect on the economy of any country. a new breed of business was born. now faced competition from multinationals that had superior technology. The old. Ltd. Hence. tenacity and continuity. rather than the market or competition. teamwork. however. survival of the family became synonymous with the survival of the business. IT businesses succeeded because they were customer focused and professionally managed. As well. changed the very nature of the joint family. using the Indian mythology trinity of creation. (Milwaukee. During this era. Post liberalization. Thus. the family would have to re-orient itself to compete in a global. if they were to extend their life cycle.Before 1991. Below. If large Indian businesses were to succeed. Decisions were based on connections. increasingly youthful population(50% of India is 25 years and younger) and much more. society was risk averse and the individual looked primarily for employment stability. In the structure. preservation and destruction. Recent survey . Under this structure. businesses and families were intertwined though they were also distinct entities with separate rules. entrepreneurship was subdued. summer 1975). reaffirming the Weberian values and trust that have built successful businesses. financial strength and deeper managerial resources.

2002. The regression results indicate that a unit change in the value of the Index of Entrepreneurship will bring GEM data also suggests that there is no country that has high levels of entrepreneurship and low levels of economic growth (Reynolds et al. p.The Global Entrepreneurship Monitor (GEM) in its report of 2002 also showed that the national level of entrepreneurial activity has a statistically significant association with subsequent level of economic growth. 185. Development of entrepreneurs in India is one of the major thrust areas for the development of the Indian economy. 24).. Project ISEED. WI: Center for Venture Management. a study found a similar trend. p.40 change in per capita income http://www. the following reasons are responsible: 9 1 )Albert Shapero. . If further look deeply in the matter as to why entrepreneurs are important for nation and entrepreneurship holds a dominant position in the society. the study found a positive impact of the Index of Entrepreneurship on per capita income. On the basis of a cross section of data for 17 major states of the country. summer 1975).com/publicdata/explore?ds=k6n6dkler1898_&ctype=l&strail=false&bcs=d&nsel m=h&met_y=Opportyy&scale_y=lin&ind_y=false&rdim=country&idim=country:CN:US:LT:IN&ifdim= country&hl=en_US&dl=en_US&ind=false&icfg The entrepreneurs are the generators of organisations and jobs.2 In the Indian context also. 187. Ltd. Entrepreneurship and Economic Development. (Milwaukee.

Entrepreneurship and Economic Development. Ltd. p. 187. Project ISEED. which is a significant input to an economy. Entrepreneurship provides self sufficiency If we take a look at the global level and the total entrepreneur activity compared to India in 2001: Many initiatives at the national level have been taken for entrepreneur development. . WI: Center for Venture Management.  Approximately 34 million of fresh employment opportunities were created by entrepreneurs from the period of 1980. This data makes it clear that entrepreneurship heads nation towards better opportunities. summer 1975). Like       National institute for entrepreneurship and small business development (NIESBUD) The entrepreneurship development institute of India (EDII) Industrial development bank of India (IDBI) Small Industries Development Bank of India (SIDBI) North Eastern Development Finance Corporation Limited (NEDFi) RBI’s role and steps for the development of SSI. 10 1 )Albert Shapero. (Milwaukee.

The entrepreneur development cell will create an environment for self employment through various formal and non-formal encouraging programmes. forests. The role of EDC is not merely educating the young entrepreneurs but also to create connections of the institute with the industry. summer 1975). Through the successive industrial policies and other investor friendly measures. entrepreneur and who so ever comes for guidance in entrepreneurship. Entrepreneurship and Economic Development. The establishment of EDC according to AICTE is that being a separate entity in the parent institute it will work for the benefit of the institute. The policies pursued by the state have resulted in promoting investment in general. Himachal Pradesh has attracted industrial investment proposals of more than Rs18105 crores in the last four years. It helps to generate awareness among the common man to think out of the box and start thinking to be more industrious. training. information centre. State has rich resources of water. the state has been striving to accelerate the flow of investment into industrial sector. social sustainability. The role on the cell is to navigate the entrepreneur and help him find the way. State is providing the best services to the industrial investors. (Milwaukee. development. Its activities of establishment of corporate relation will lead to institutional sustainability. Project ISEED. Need for EDC in himachal: Industrial investment in himachal Pradesh: Himachal Pradesh provide good industrial investment environment. The navigation is done by introduction to entrepreneurship. WI: Center for Venture Management. economic sustainability. agro. p. entrepreneur cultural sustainability. . Ltd. besides maintaining investor friendly environment in the state by doing away with procedural hazards for setting up of industrial units. diversification of industries and generation of employment opportunities. herbal and minerals in addition with tremendous potential for investment in tourism sector 11 1 )Albert Shapero.Entrepreneur development role: The role of the EDC is to provide a small niche of information that the entrepreneur needs to kick start his business. 187.

Entrepreneurship and Economic Development. etc.The thrust areas in himachal Pradesh which is a golden opportunity for the entrepreneurs is as such: Not only has this but the state government taken initiatives to give opportunities to entrepreneurs in areas of crop dicversitifaction through 'Pt. Deen Dayal Kisan-Bagwan Samridhi Yojana. 187. (Milwaukee. summer 1975). . Krishak Mitra. Ltd. WI: Center for Venture Management. 12 1 )Albert Shapero. horticulture development. power state development. p. Project ISEED. Land Bank.

p. the size of self-employed category invariably shrinks. they will seldom earn. We must create job providers in larger numbers rather than job seekers. summer 1975). Entrepreneurship and Economic Development. There is also a need to inculcate entrepreneurial temper in society at large to make all walks of life entrepreneurial. as self-employed.Need for entrepreneur development in himachal: While there always is an autonomous supply of entrepreneurs in all parts of the world. and generate wealth. Small and Medium Enterprise Policy. By introduction of entrepreneur development at educational level we try to stimulate entrepreneurial thought process as early as possible in potential entrepreneurs. (Milwaukee. Though. several initiatives are in place to promote entrepreneurship in the country. it 13 1 )Albert Shapero. whereas most entrepreneurs in developing countries are ‘necessity driven’ ‘forced entrepreneurs’. India needs opportunity-driven competent entrepreneurs. knowledge and aptitude for entrepreneurship. The question is. Manufacturing Policy. Importance of EDC at the education level: The Government realises that there is a need to ‘catch them young’. directly and indirectly. create employment. But the focus on entrepreneurship remains fragmented and devoid of any strategy content. the efforts are disjointed. whenever the economy does well. which. There are also issues pertaining to the quality of entrepreneurs. Project ISEED. The questions being raised are of the quality and quantity of entrepreneurs who could take advantage of the emerging opportunities in the wake of liberalization and globalization of the economies. to make India an entrepreneurial nation wherein entrepreneurship becomes a way of thinking. There is a plethora of policies such as Micro. Competition Policy. This is amply reflected in the high (close to 40%) industrial sickness in these countries. etc. . in the developing countries it falls short of the quantity that is necessary to adequately exploit resources to generate wealth and employment. They enter into the realm of business as they have no option to earn their livelihood from any other source. where will this supply of ‘opportunity driven’ entrepreneurs come from? How will potential entrepreneurs acquire competence and global competitive edge? The need of the hour.. therefore. as these self-employed ‘pseudo’ entrepreneurs’ move to jobs that provide financial security and decent earning. including India. that touch upon and have implications for entrepreneurship. National Design Policy. WI: Center for Venture Management. is to augment the supply of well-groomed opportunity and innovation driven entrepreneurs. The quality of whatever little autonomous supply of entrepreneurs these developing countries have is also rather suspect. India unfortunately is deficient on both counts. rather than ‘factor’ or ‘necessity’ driven self-employed. Science and Technology Policy. who set up sustainable enterprises. Ltd. This may also require introducing entrepreneurship in the education system. As a result. Industrial policy. Introducing entrepreneurship in the education system at all levels to orient and prepare students for an entrepreneurship career by imparting skills. This requires inculcating entrepreneurial values and skills in them at a young age. a way of life. 187.

However. even though a large number of respondents (about 81%) for this study had no immediate plans to enter an entrepreneurial career. the National Policy on Education (1986) does not mention entrepreneurship even obliquely. (Milwaukee. a majority of them (58%) was willing to reconsider their career choice in favour of entrepreneurship. disapproval by main decision-maker in family. summer 1975). knowledge and aptitude necessary for successful entrepreneurship journey. and. the present status of entrepreneurship teaching in higher education in 14 1 )Albert Shapero. p.also helps to create an ecosystem which will support small business man and entrepreneurs . Project ISEED. However. This necessitates proactive policy interventions in favour of entrepreneurship. Main reasons behind their lack of confidence in choosing an entrepreneurial career are lack of knowledge about business opportunities. However. ignorance about procedures and formalities in starting and managing a business. hesitation in taking risk. provided adequate counselling and guidance on the process of setting up a business and related regulations. . Entrepreneurship and Economic Development. 187. To encourage the students to opt for entrepreneurship as a career. procedures and formalities were made available. Ltd. Two of the key entry barriers to an entrepreneurial career facing students are. and. While education provides the base for innovation and creates a value system. lack of self-confidence. the Government will introduce entrepreneurship in the education system at all levels and orient and prepare students for an entrepreneurship career by imparting skills. according to the ‘Study on Entry Barriers to Entrepreneurship’ referred to earlier. WI: Center for Venture Management. But the National Policy on Education (1986) does not mention entrepreneurship even obliquely. an entrepreneurial culture drives wealth creation and gives further push to innovations.

Ent.). by 2015. Government will help Indira Gandhi National Open University (IGNOU) and Entrepreneurship Development Institute of India (EDI) who are already offering such distance education programmes in entrepreneurship. All India Council for Technical Education (AICTE) has been promoting Entrepreneurship Development Cells (EDCs) in engineering and technology colleges. 15 1 )Albert Shapero. (iii) Encourage Universities and colleges to treat entrepreneurship as a separate discipline of study and launch a 3-year undergraduate (Bachelor of Entrepreneurship – B. there are about 50 EDCs supported by AICTE. Entrepreneurship and Economic Development. a number of Management Schools have been offering ‘entrepreneurship’ as one of the electives.). in a limited manner. Government realises that it needs to give a big push to mainstream ‘entrepreneurship’ in education system. only about 200 have Entrepreneurship Development Cells. 2-year post-graduate (Masters in Entrepreneurship – M.000 colleges. For example. to up-scale their efforts and outreach. It had supported about 5 universities in setting up EDCs. class room teaching. So far. and a Ph. p. (iv) Encourage youths who drop out at various levels. a minuscule number of colleges have started basic entrepreneurship teaching. Commerce and Management Faculties). which will assign Significant weight age to applied. field based components rather than only theoretical.D. the Government will: (i) Make it mandatory for all the universities and colleges to introduce Entrepreneurship as a 90-hour course (30 hours each year) at under-graduate level. Given the number of students. Ltd. The University Grants Commission (UGC) developed a curriculum for under-graduate level. On a rough reckoning. it has sponsored close to 80 EDCs. To make entrepreneurship an integral part of Higher Education (specifically Arts. For such students. the Government will encourage Open Learning Programmes in Entrepreneurship. Project ISEED. of the 620 universities and over 33. National Science and Technology Entrepreneurship Development Board of the Department of Science and Technology is the major sponsor of EDCs. to take up an entrepreneurial car eer. way back in 2000 and circulated it to all the universities and colleges for their consideration. though its focus is engineering and science colleges and universities. creation of EDCs in Universities. programme in entrepreneurship. (ii) Develop a 90-hour curriculum for teaching entrepreneurship. bankable business plan. the entrepreneurship infrastructure in educational institutions is quite inadequate. Therefore. The Ministry of MSME also supports. on the lines of Bachelor of Business Administration (BBA) and Masters of Business Administration (MBA). Subsequently. Only 4-5 Business Schools offer post graduate programme in ‘entrepreneurship’. 187.India leaves much to be desired. at the end of the course. WI: Center for Venture Management. (v) In grading/accrediting institutions of higher education give higher weightage for Promoting entrepreneurship among students and teachers. Ent. Besides. Each Arts and Commerce student will be expected to have identified a viable business opportunity and prepared a sound. not all cells are very active. (Milwaukee. And. by 2020. summer 1975). in all the faculties. New assessment parameters will be evolved for evaluating performance of students. .

as a part of their outreach activities. promoting the concept of social entrepreneurship. networking with other entrepreneurship clubs. networking with local entrepreneurs. financial institutions. This is in spite of the fact that in most states. it takes 1420 days to enforce a contract which has 46 procedures. such as: discourses and debates. The Cells will also organise short-duration training programmes on venture start up for persons other than students. WI: Center for Venture Management. it takes 29 days to start a business compared to one day in New Zealand. Ltd. technology providers and R&D institutions. (ix) Expect EDCs to operate as a one-stop-shop for all necessary information on formalities and procedures involved in setting up a venture and will also authorise EDCs to complete necessary formalities and procedures on behalf of the Government departments so that student-entrepreneurs do not have to run approach multiple agencies for completing formalities. Registering a property takes almost 44 days. ‘Single Window 16 1 )Albert Shapero. nine days in Mexico and 19 days in South Africa. An entrepreneur spends almost 254 hours per year in paying taxes. (xii) Encourage universities and colleges to promote student-driven ‘Entrepreneurship Clubs’ which will organise various activities focussing on entrepreneurship. Opportunities and challenges in establishment of EDC: In a recent survey entitled ‘Doing Business in a more Transparent World’ published by The World Bank and IFC. focussing on women entrepreneurship. and. summer 1975). three days in Singapore and Rwanda. quiz/essay. case/idea competitions. They will be allowed to invest and also take sweat-equity in the venture.(vi) Ensure that the University Grants Commission allocates higher grants and funding support to institutions that successfully motivate and support students who choose entrepreneurship as a career and set up their ventures. (viii) Make it mandatory for universities and colleges to set up Entrepreneurship Development Cells (EDCs) with a view to providing hand-holding support and thus facilitate setting up of new ventures by the students. it takes seven years to resolve solvency with barely 20 per cent recovery rate. for the year 2012. Entrepreneurship and Economic Development. organising ‘Entrepreneurship Week’. etc. India’s rank on this parameter is 182nd out of 183. Despite reforms and government’s efforts towards liberalising the economy. . Government is aware of the fact that all this implies heavy transaction costs in terms of time and money. (Milwaukee. India ranks 132nd in terms of ‘ease of doing business’ and 166th in terms of ‘starting a business’ among 183 countries surveyed. In India. (xi) Encourage Institutions to maintain a roster of students who become successful entrepreneurs. organising small business clinics for helping micro-entrepreneurs in the neighbourhood. (x) Provide space to student-entrepreneurs on the university/college campus to help them showcase and sell their products for the first two years of their operations. 187. Project ISEED. business associations. (vii) Encourage teachers in helping students set up their ventures and extend support in managing their enterprises in the initial phase. p. lectures by successful entrepreneurs. on mutually agreed terms and conditions.

It is estimated that the non-farm unorganised sector accounts for about 89 per cent of the gross value added and almost 98 per cent of employment in MSMEs. technically an entrepreneur has to submit his/her application at a designated ‘nodal point’ and all the permits and licenses are taken care of. Ltd.  17 1 )Albert Shapero. industry associations. It will be the endeavour of the Government to remove these constraints and come up with business friendly rules and regulations to facilitate entry of young potential entrepreneurs into business.System’ is in vogue. they do not have much access to the Government support umbrella. regulatory bodies. empowered bodies have been created to address all the procedures and formalities at one point. Multi Door’ facility.e. support agencies. of which over 64 per cent units fall in the self-employment category. The decision of such bodies is all-pervasive. p. Government of India will work closely with the state governments to improve the support system to create an entrepreneur-friendly environment. Government is aware of the fact that due to their informal status. Entrepreneurship and Economic Development. For this establishment of DC can be the first step to satisfy these potential entrepreneurs. etc. However. Under this system. to help entrepreneurs realize their dream of creating a successful innovative and growth venture.e.. It will be the endeavour of Government to promote an eco-system enveloping all the key stakeholders viz. in actual practice it works as what has come to be known as. because the power to grant approvals is vested with various regulatory and support departments. Gujarat. (Milwaukee. Rajasthan and Odisha have come up with new legislations under which. Only a few states. academic/training 24 institutions/banks and financial institutions. ‘Single Window. NGOs. 187. i. since the MSMEs fall under the jurisdiction of state governments. Chhattisgarh. Project ISEED. i. However.. summer 1975). . WI: Center for Venture Management. government. by carrying out necessary reforms.

Strategic statement Tactical statement Operational statement Profile of EDC: AICTE UGC NSDC Human resources skill development & industry relations Research & development Consulting & incubation support Education and training Logistics. As EDC is not only limited to academic aspect. learning by doing pattern and establish an entrepreneurial culture in the local community and state level. . infrastructure & resource mobilization Edc Production & technical operations Financial planning & budgeting Marketing sales. (Milwaukee. p. its operations will lead to industry interaction. Objectives Encourage students to become job generators from job seekers To create and establish rich entrepreneurial culture at Shoolini university To respond effectively to the opportunities of both the national and international level related to entrepreneurship. summer 1975). And provide a platform for budding entrepreneurs. WI: Center for Venture Management. Entrepreneurship and Economic Development. Ltd. Project ISEED. And that can be best done through setting up entrepreneur development cell which will act as a one stop shop to all solutions for young entrepreneurs. customer service State government NGO Industry 18 1 )Albert Shapero. 187. Not only benefitting the individual but also the institute itself by establishing corporate relationships and producing success stories the institute will emerge as a entrepreneur developing niche. entrepreneur development should be given priority. consultancy of SME and tiny enterprises to MNCs.Need of EDC at Shoolini University: In order to meet the global demands and challenges in the Indian Industry along with generation of employment.

p. . Ltd. summer 1975). The composition of the committee should be as follows: A. Dean (research/planning) -(member) C. Three to five representatives from different industries of the region -(members) E. 187. WI: Center for Venture Management. Dean Management sciences VC Annual Performance Committee Chief Co-ordinator EDC Programme co-ordinator A Programme co-ordinator B Programme co-ordinator C Project team A Project team B Project team C 19 1 )Albert Shapero. The technical institution /technical departments of the university should form an annual performance committees to review and monitor the performance of the EDC in respect of various benefits to be accrued of the same. Project ISEED. Director/principal/dean of the institute/college/university -(chairman of the committee) B. Head of three departments (by rotation) -(member) D. Entrepreneurship and Economic Development. Chief Coordinator -(convenor/secretary) Note: minutes of the meeting should be sent to the AICTE.Objective 1 2 3 Target Activities Organisational structure: As mentioned in the guidelines of the AICTE to establish EDC. (Milwaukee.

Project ISEED. . Entrepreneurship and Economic Development. 187. p.Roles and responsibilities: 20 1 )Albert Shapero. (Milwaukee. Ltd. summer 1975). WI: Center for Venture Management.

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