Entrepreneurship&

Entrepreneurial Eco system

• Entrepreneurship& Entrepreneurial Eco system – Meaning, Types of
Entrepreneurship (Rural, Social, Women, etc.),
• Intrapreneur, Key attributes an entrepreneur -Desirable and
acquirable attitudes and behaviors-Readiness-The right time, right
age, right conditions- Myths and realities of entrepreneurship, Factors
influencing Entrepreneurship,
• Entrepreneurial Development Programmes (EDP), Business
Incubators, start up revolution–Trends, Imperatives, benefits; Myths
and realities of entrepreneurship- Transition from college/ regular job
to the world of start-ups
Meaning : Entrepreneurship& Entrepreneurial Eco system

• Entrepreneurship is both the study of how new businesses are

created as well as the actual process of starting a new business – the
term is used interchangeably.
• An entrepreneur is someone who has an idea and who works to
create a product or service that people will buy, by building an
organization to support those sales.
• An entrepreneurial ecosystem or entrepreneurship ecosystem is
the social and economic environment affecting the local or
regional entrepreneurship
Types of Entrepreneurship
• Based on the Type of Business:
1. Trading Entrepreneur
2. Manufacturing Entrepreneur
3. Agricultural Entrepreneur
• Based on the Use of
Technology:
1. Technical Entrepreneur
2. Non-Technical Entrepreneur
• Based on Ownership:
1. Private Entrepreneur
2. Joint Entrepreneurs
• Based on Gender
1. Men Entrepreneurs
2. Women Entrepreneurs
Types of Entrepreneurship
• Based on the Size of
Enterprise:
1. Small-Scale Entrepreneurship
2. Medium-Scale Entrepreneur
3. Large-Scale entrepreneur
• Based on initial stage of
economic development
1. Innovating Entrepreneurs
2. Imitative Entrepreneurs

• Others
• Social Entrepreneurs
• Rural Entrepreneurship
• Urban Entrepreneurship
Intrapreneur
• An intrapreneur is an inside entrepreneur, or an entrepreneur within a
large firm, who uses entrepreneurial skills without incurring the risks
associated with those activities.
• Intrapreneurs are usually employees within a company who are
assigned to work on a special idea or project, and they are instructed to
develop the project like an entrepreneur would.
• Intrapreneurs usually have the resources and capabilities of the firm
at their disposal.
Key attributes an entrepreneur
• Goal-oriented
• Committed to their business
• Proactive
• Prosper on uncertainty
• Look for opportunities to
improve
• Willing to take risks
• Willing to listen and learn
• Strong communication skills
• Inherently creative
• Passionate and always full of
positivity
• Willing to take risks
• Willing to listen and learn
• Strong communication skills
Myths and realities of entrepreneurship
1. Myth: Venture capitalists fund startups. Fact: Less than one percent
of all new businesses are backed by venture capital.
2. Myth: Access to capital is required for a startup. Fact: More than 80
percent of new ventures are boot-strapped from personal savings,
credit cards, second mortgages and the like.
3. Myth: Someone will steal my idea. Fact: Someone probably already
has your idea. And your next one.
Myths and realities of entrepreneurship
4. Myth: Being first to market is important for success. Fact: Being first to execute well and
delight customers is important for success.

5. Myth: Most successful entrepreneurs take huge risks in starting their companies. Fact: Most

successful entrepreneurs concentrate on minimizing risk.

6. Myth: Most successful entrepreneurs start their companies with an advance innovative

invention/ creation, usually technological. Fact: Most successful entrepreneurs succeed by
exceptional execution of ordinary ideas: Starbucks

7. Myth: You have to start a company to be an entrepreneur. Fact: Successful entrepreneurs use

their innovative passion in many ways, such as buying companies, creating new ventures
within larger companies.
Factors influencing Entrepreneurship

•Economic Factors
1. Capital
2. Labor
3. Raw Materials
4. Market
5. Infrastructure
Factors influencing Entrepreneurship
• Social Factors
1. Caste Factor
2. Family Background
3. Education
4. Attitude of the Society
5. Cultural Value
Factors influencing Entrepreneurship
• Psychological Factors
1. Need Achievement
2. Withdrawal of Status Respect
3. Motives (wealth, entrepreneurs seek power, prestige, security and
service to society)
Entrepreneurial Development Programmes
(EDP)
• EDP is a programme meant to develop entrepreneurial abilities
among the people.
• It refers to inculcation, development, and polishing of entrepreneurial
skills into a person needed to establish and successfully run his / her
enterprise.
• Thus, the concept of entrepreneurship development programme
involves equipping a person with the required skills and knowledge
needed for starting and running the enterprise.
Objectives of EDP:
a. Develop and strengthen the entrepreneurial quality, i.e. motivation
or need for achievement.
b. Analyze environmental set up relating to small industry and small
business.
c. Select the product.
d. Formulate proposal for the product.
Objectives of EDP:
e. Understand the process and procedure involved in setting up a small
enterprise.
f. Know the sources of help and support available for starting a small
scale industry.
g. Acquire the necessary managerial skills required to run a small-scale
industry.
h. Know the pros and cons in becoming an entrepreneur.
i. Appreciate the needed entrepreneurial discipline.
Business Incubators
• A business incubator is a company that helps new and startup
companies to develop by providing services such as management
training or office space.[
• They are catalyst tool for either regional or national economic
development.
• Incubators provided by :
• Academic institutions;
• non-profit development corporations;
• For-profit development ventures;
• Venture capital firms, and
• Combination of the above.
Incubator types:
• Virtual business incubator - online business incubator
• Kitchen incubator - a business incubator focused on the food industry
• Public incubator - a business incubator focused on the public good
• Seed accelerator - a business incubator focused on early startups
• Corporate accelerator - a program of a larger company that acts akin to a seed
accelerator
• Startup studio - a business incubator with interacting portfolio
companies , get equity in exchange of funds and expertise.
• Hybrid Incubator - A business incubator that combines virtual incubator
with on-premise activities
Common Services Provided By
• Help with business basics
• Networking activities
• Marketing assistance
• Market Research
• High-speed Internet access
• Help with accounting/financial
management
• Access to bank loans, loan funds and
guarantee programs
• Help with presentation skills
• Links to higher education resources
: Business Incubators
• Links to strategic partners
• Access to angel investors or venture
capital
• Comprehensive business training
programs
• Advisory boards and mentors
• Management team identification
• Help with business etiquette
• Help with regulatory compliance
• Intellectual property management
Start Up Revolution
• The campaign was first announced by Indian Prime Minister,
Narendra Modi during his 15 August 2015 address from the Red Fort,
in New Delhi.  The action plan of this initiative, is based on the
following three pillars:

• Simplification and Handholding.

• Funding Support and Incentives.
• Industry-Academia Partnership and Incubation.
Start Up
• Startup means an entity, which is registered in India not over five
years and the annual turnover not exceeding Rs.25 crore in any
financial year. It is an entity which works towards innovation,
development, deployment or commercialization of new products
and services driven by technology or intellectual property.
COMPONENTS OF STARTUP
• Reduce The Regulatory Burden
• Startup India Hub
• single point of contact with Central and State Governments, Indian and
foreign VC's, angel networks, banks, incubators, legal partners, consultants,
universities and R&D institutions.
• Rolling Out of Mobile App and Portal
• Legal Support and Fast
• Relaxed norms of Public Procurement for Startups
• Faster Exit for Startups
Transition from college/ regular job to the
world of start-ups
• Simple process
• Reduction in cost
• Easy access to Funds
•  Tax holiday for 3 Years   
• Apply for tenders
• R&D facilities
• Employment for startup failures