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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.

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. summer 1975). WI: Center for Venture Management. SIDBI Initiative. labour and knowledge. Large number of EDP trainers and motivators are being trained to significantly expand the Entrepreneurship Development Programmes (EDP). Every state of India has done its part and put in its effort in this initiative. Incubator centres. networking and mentoring. Agribusiness. promotion. Incentives to Women Entrepreneurs Scheme. Industry Associations is also encouraged to participate in this venture 3 1 )Albert Shapero.Delhi Government’s Stree Shakti Project. India has a rich history of entrepreneurs who turned their idea into multinational companies. Knowledge and Human resource. The thrust areas of entrepreneurship in Himachal Pradesh being tourism. Government of Goa. it aims at making entrepreneurship a movement. and tries to change the mind-set of target group. with present resources of land. 187.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. And not only government of India is active but also MNC are encouraging entrepreneur development cells. Entrepreneurship policy uses ‘soft’ policy measures such as awareness. Financing. . It usually focuses on motivation. India as a country has formulated a National Entrepreneurship Policy with the overarching aim to augment the supply of entrepreneurs. Kerala Government’s Women Industries Programme . 2008. The Entrepreneurship Policy encompasses multiple stages in the emergence of an enterprise from pre-start to stabilisation and growth. Government. Ltd. Entrepreneurship in Agriculture & Allied Sectors. renewable energy resources and many more needs entrepreneurs to take initiative. p. And himachal Pradesh has some were been on back foot in entrepreneur development or in better sense still has a vast opportunity to perform. horticulture. Handicrafts. Schemes of Delhi Commission for Women (Related to Skill development and training). Like CII. Project ISEED. skill development. (Milwaukee. and Government is continuously taking initiatives and supporting first generation entrepreneur through training. Entrepreneurship and Economic Development. opportunity and skills with the primary objective of encouraging people to venture out. In short. The Government of India has various schemes like Entrepreneur development cell. a single initiative to encourage entrepreneurs can make a lot of difference. 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. 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.

Prof. Dhumal said that Himachal Pradesh had introduced various ambitious schemes to attract the tourists in last four and a half years. 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. Shri Mahila Griha Udyog Lijjat Papad.  IT Industry for providing the mentorship programme. etc 4 1 )Albert Shapero. Textiles.Sunil Mittal borrowed money from his father in 1976 when he was 18. teaching faculty etc. And to advance the country into 21st century with growth so that the benefits are widely shared among the stake holders for example :  Administration.  Professional Service Providers. etc. (Milwaukee. coordination. For example: iAccelerator powered By Tata Communications. GUWAHATI. Adi Godrej. Success story: true first generation entrepreneur. popularly known as Lijjat.for highlighting the success stories. And if we observe himachal Pradesh Chief Minister Prem Kumar Dhumal in an interactive session in Travel and Tourism Fair at Kolkata. Due to development of infrastructure and continuous efforts on the part of State as well as Central Govt. Ltd. INDIAN INSTITUTE OF ENTREPRENEURSHIP (IIE). and started manufacturing crankshafts from motorcycles.  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. He is the founder and chairman of the Bharti Group . like Televisions Components.Chartered Accountants. Watch Components. from which we can all take inspiration from. Jamsetji Tata. scaling up of existing businesses  Media. but now the industries in Himachal Pradesh are producing high technology precision items. WI: Center for Venture Management.for building and creating an eco system to nurture entrepreneurs. Entrepreneurship and Economic Development.etc. summer 1975). 187. ‘Har Ghar Kuchh Kehata Hai’. Azim premji. Lawyers specializing Intellectual Property Rights etc who will provide the requisite professional assistance. Ekta Kapoor and many more. industrialization in the state has gained further momentum during the last two decades. NATIONAL INSTITUTE FOR ENTREPRENEURSHIP AND SMALL BUSINESS DEVELOPMENT (NIESBUD). but there is ample scope in other areas too. We call this an epic journey. HYDERABAD. Project ISEED. INSTITUTE FOR MICRO.  Academic Institutions for providing course ware. Many states have excelled in the entrepreneurship for example. . The important among these were ‘Har Gaon Ki Kahani’. organized by Department of Tourism and Civil Aviation. SMALL AND MEDIUM ENTERPRISES (NI-MSME). and Home Stay Scheme etc. Sunil Mittal has been awarded the Padma Bhushan and has a net worth in excess of $8 billion. He has never looked back since then. Himachal Pradesh urged the entrepreneurs to invest in tourism sector in Himachal Pradesh as State has tremendous potential for the same. p.effectively. SSI’s were engaged in the production of traditional items. LDPE/HDPE pipe. NOIDA. Computer Components.

Project ISEED.A good number of MSMEs have come up in the state particularly in Solan. Entrepreneurship and Economic Development. Entrepreneurship has some element of innovation and growth potential. 187. Which will formalize the working of EDC and also amidst in receiving institutional support from various government. Introduction The entrepreneurs have been the whistleblowers of change and getting the things done themselves. As an accredited university under UGC and AICTE. RIFD/10(04)/2012-13. 5 1 )Albert Shapero. 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. WI: Center for Venture Management. private organisations for the training. . This basic instinct of trusting on your ownself makes an entrepreneur different from a business man. In this regard the proposal for EDC at department of management sciences is being proposed. An entrepreneur is the one who thinks out of the box and explores the opportunities in the market place. He/she try to arrange resources required to exploit these opportunities for long term gain. every self-employed person is not an entrepreneur Entrepreneurs bring productivity gains through innovations and enhance competitiveness. 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. 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. Every person has a business idea but the one who try to make it possible is an entrepreneur. with the seed of a basic idea an entrepreneur takes calculated financial risks and collaborating skilled people to start an enterprise. (Milwaukee. Ltd. summer 1975). development and resource support to young entrepreneurs. and helping set up entrepreneurial ventures in biotechnology and related fields. Shoolini University intends to participate in AICTE quality improvement schemes2012-13 wide advertisement no. p. semi government. 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. A strong entrepreneurial culture means there is less off stigma associated with failure and recognizes the crucial role of entrepreneurs in creating new jobs. (Milwaukee. 187. Project ISEED. p. 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. summer 1975). The research also found out that a culture of entrepreneurship is particularly strong in the rapid–growth markets. Entrepreneurship and Economic Development. where more than 90% of respondents perceive the culture to be conducive to entrepreneurship. 6 1 )Albert Shapero. Especially impressive are the performances of India and China.And for this entrepreneurship it is important to polish the crude gem by entrepreneurship and development initiative. . Ltd.

Kanishka Empire in the 1st century started nurturing Indian entrepreneurs and traders.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.6% that is $2. the sarees of Banaras and other cotton fabrics were known to the foreigners. The muslin of Dacca. . and providing an assorted range of goods and services to the consumers. Egyptian mummies dating back to 2000 B.2 millions which is more than the total jobs being generated in Japan and Europe.D. summer 1975). WI: Center for Venture Management. Entrepreneurial undertakings are now being introduced to college going students which could give them an idea of creating and managing firms. and grasping of opportunity and it is all because of prevalence of entrepreneurial culture in the economy. providing jobs.. Post tax earnings have gone up by 9. were wrapped in Indian muslin. (Milwaukee. 7 1 )Albert Shapero. adaptability. and learning entrepreneurial skills. legality in dealings. taking into account the period 2003 to 2007 the generation of employment has reached 7. The entrepreneurs are today seen as the catalyst which speeds up the process of creating wealth for the economy. b) Importance of entrepreneurship in European economy: The importance of entrepreneurial activities was realized by the European economy in the year 1980. Following that period. uniqueness of monetary ventures. 187. p. India established its trade relationship with Roman Empire. Indians were experts in smelting of metals such as brass and tin. managing human resources. Recently a number of fresh opportunities for entrepreneurial proposals are being dug up in European economy. The growth of America is in leaps and bounds and that is all because of the insistence and efficiency of American entrepreneurs. 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. Ltd. Entrepreneurship and Economic Development. The popular belief that India had never been an industrial country is incorrect. The above statement can be well supported with the help of factual data given. In the pre colonial times the Indian trade and business was at its peak. relevance of entrepreneurship firms to European financial system. the calicos of Bengal. Project ISEED.840 from the time when the president has taken oven the charge. pecuniary transactions.C. It was true that agriculture was the dominant occupation of her people but the products of Indian industries enjoyed a worldwide reputation. in around 1600 A.

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

Project ISEED.. The regression results indicate that a unit change in the value of the Index of Entrepreneurship will bring Rs. 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. summer 1975). 2002. 24). 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. Development of entrepreneurs in India is one of the major thrust areas for the development of the Indian economy.2 In the Indian context also. p. the following reasons are responsible: 9 1 )Albert Shapero. Entrepreneurship and Economic Development. a study found a similar trend. GEM data also suggests that there is no country that has high levels of entrepreneurship and low levels of economic growth (Reynolds et al.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. . (Milwaukee. WI: Center for Venture Management. Ltd.40 change in per capita income http://www. If further look deeply in the matter as to why entrepreneurs are important for nation and entrepreneurship holds a dominant position in the p. 187.

187. WI: Center for Venture Management. 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. . This data makes it clear that entrepreneurship heads nation towards better opportunities. summer 1975).  Approximately 34 million of fresh employment opportunities were created by entrepreneurs from the period of 1980. Project ISEED. (Milwaukee. 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. Ltd. Entrepreneurship and Economic Development. p.

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

. Krishak Mitra. 187. (Milwaukee. 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. Project ISEED. Deen Dayal Kisan-Bagwan Samridhi Yojana. Land Bank. 12 1 )Albert Shapero. WI: Center for Venture Management. power state development. Entrepreneurship and Economic Development. p. horticulture development. Ltd. summer 1975).

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

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

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

it takes seven years to resolve solvency with barely 20 per cent recovery rate. on mutually agreed terms and conditions. lectures by successful entrepreneurs. Government is aware of the fact that all this implies heavy transaction costs in terms of time and money. and. (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. as a part of their outreach activities. (xii) Encourage universities and colleges to promote student-driven ‘Entrepreneurship Clubs’ which will organise various activities focussing on entrepreneurship. summer 1975). quiz/essay.(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. networking with local entrepreneurs. Entrepreneurship and Economic Development. An entrepreneur spends almost 254 hours per year in paying taxes. such as: discourses and debates. Registering a property takes almost 44 days. promoting the concept of social entrepreneurship. case/idea competitions. organising ‘Entrepreneurship Week’. three days in Singapore and Rwanda. ‘Single Window 16 1 )Albert Shapero. (xi) Encourage Institutions to maintain a roster of students who become successful entrepreneurs. it takes 1420 days to enforce a contract which has 46 procedures. India’s rank on this parameter is 182nd out of 183. it takes 29 days to start a business compared to one day in New Zealand. India ranks 132nd in terms of ‘ease of doing business’ and 166th in terms of ‘starting a business’ among 183 countries surveyed. financial institutions. p. Despite reforms and government’s efforts towards liberalising the economy. This is in spite of the fact that in most states. . The Cells will also organise short-duration training programmes on venture start up for persons other than students. (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. WI: Center for Venture Management. They will be allowed to invest and also take sweat-equity in the venture. networking with other entrepreneurship clubs. In India. nine days in Mexico and 19 days in South Africa. (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. business associations. (vii) Encourage teachers in helping students set up their ventures and extend support in managing their enterprises in the initial phase. Project ISEED. 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. etc. organising small business clinics for helping micro-entrepreneurs in the neighbourhood. Ltd. technology providers and R&D institutions. (Milwaukee. 187. for the year 2012.

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

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. And provide a platform for budding entrepreneurs. 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. customer service State government NGO Industry 18 1 )Albert Shapero.Need of EDC at Shoolini University: In order to meet the global demands and challenges in the Indian Industry along with generation of employment. consultancy of SME and tiny enterprises to MNCs. Ltd. learning by doing pattern and establish an entrepreneurial culture in the local community and state level. p. entrepreneur development should be given priority. 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. Entrepreneurship and Economic Development. 187. Project ISEED. its operations will lead to industry interaction. As EDC is not only limited to academic aspect. . WI: Center for Venture Management. 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. infrastructure & resource mobilization Edc Production & technical operations Financial planning & budgeting Marketing sales. (Milwaukee. summer 1975).

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. Head of three departments (by rotation) -(member) D. 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. Dean (research/planning) -(member) C. 187. Project ISEED. Chief Coordinator -(convenor/secretary) Note: minutes of the meeting should be sent to the AICTE. The composition of the committee should be as follows: A. Director/principal/dean of the institute/college/university -(chairman of the committee) B. p. Entrepreneurship and Economic Development. Ltd. (Milwaukee. Three to five representatives from different industries of the region -(members) E.Objective 1 2 3 Target Activities Organisational structure: As mentioned in the guidelines of the AICTE to establish EDC. . WI: Center for Venture Management. summer 1975).

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