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CONCEPT NOTE PROPOSAL FOR ESTABLISHMENT OF EDC (ENTERPRENEUR AND DEVELOPMENT CELL)

DEPARTMENT OF MANAGEMENT SCIENCES SHOOLINI UNIVERSITY 2012-13

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

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

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

Serial number 1 2 3 4 5 6 7 8 9 10 11 12 13

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

Page no.

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1 )Albert Shapero, Entrepreneurship and Economic Development, Project ISEED, Ltd. (Milwaukee, WI: Center for Venture Management, summer 1975), p. 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. 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. India as a country has formulated a National Entrepreneurship Policy with the overarching aim to augment the supply of entrepreneurs. The Entrepreneurship Policy encompasses

multiple stages in the emergence of an enterprise from pre-start to stabilisation and growth. It usually focuses on motivation, opportunity and skills with the primary objective of encouraging people to venture out. Entrepreneurship policy uses soft policy measures such as awareness, promotion, skill development, networking and mentoring, and tries to change the mind-set of target group. In short, it aims at making entrepreneurship a movement. India has a rich history of entrepreneurs who turned
their idea into multinational companies, 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. Every state of India has done its part and put in its effort in this initiative. And himachal Pradesh has some were been on back foot in entrepreneur development or in better sense still has a vast opportunity to perform, with present resources of land, labour and knowledge, a single initiative to encourage entrepreneurs can make a lot of difference. The thrust areas of entrepreneurship in Himachal Pradesh being tourism, Agribusiness, horticulture, Handicrafts, Knowledge and Human resource, renewable energy resources and many more needs entrepreneurs to take initiative. The Government of India has various schemes like Entrepreneur development cell, Incubator centres, and Government is continuously taking initiatives and supporting first generation entrepreneur through training. Large number of EDP trainers and motivators are being trained to significantly expand the Entrepreneurship Development Programmes (EDP). Like CII, SIDBI Initiative, Entrepreneurship in Agriculture & Allied Sectors, Kerala Governments Women Industries Programme ,Delhi Governments Stree Shakti Project, Schemes of Delhi Commission for Women (Related to Skill development and training), Incentives to Women Entrepreneurs Scheme, 2008, Government of Goa, Government, Financing. 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.

And not only government of India is active but also MNC are encouraging entrepreneur development cells. Industry Associations is also encouraged to participate in this venture
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1 )Albert Shapero, Entrepreneurship and Economic Development, Project ISEED, Ltd. (Milwaukee, WI: Center for Venture Management, summer 1975), p. 187.

effectively. For example: iAccelerator powered By Tata Communications, Shri Mahila Griha Udyog Lijjat Papad, popularly known as Lijjat, 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- for building and creating an eco system to nurture entrepreneurs. 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. Academic Institutions for providing course ware, teaching faculty etc. Professional Service Providers- Chartered Accountants, Lawyers specializing Intellectual Property Rights etc who will provide the requisite professional assistance. IT Industry for providing the mentorship programme, coordination, scaling up of existing businesses Media- for highlighting the success stories.
Many states have excelled in the entrepreneurship for example, INSTITUTE FOR MICRO, SMALL AND MEDIUM ENTERPRISES (NI-MSME), HYDERABAD, INDIAN INSTITUTE OF ENTREPRENEURSHIP (IIE), GUWAHATI, NATIONAL INSTITUTE FOR ENTREPRENEURSHIP AND

SMALL BUSINESS DEVELOPMENT (NIESBUD), NOIDA,etc. Success story: true first generation entrepreneur; Sunil Mittal has been awarded the Padma
Bhushan and has a net worth in excess of $8 billion. He is the founder and chairman of the Bharti Group .Sunil Mittal borrowed money from his father in 1976 when he was 18, and started manufacturing crankshafts from motorcycles. He has never looked back since then. We call this an epic journey, from which we can all take inspiration from. Jamsetji Tata, Adi
Godrej, Azim premji, Ekta Kapoor and many more.

And if we observe himachal Pradesh Chief Minister Prem Kumar Dhumal in an interactive session in Travel and Tourism Fair at Kolkata, organized by Department of Tourism and Civil Aviation, Himachal Pradesh urged the entrepreneurs to invest in tourism sector in Himachal Pradesh as State has tremendous potential for the same. Prof. Dhumal said that Himachal Pradesh had introduced various ambitious schemes to attract the tourists in last four and a half years. The important among these were Har Gaon Ki Kahani, Har Ghar Kuchh Kehata Hai, and Home Stay Scheme etc. but there is ample scope in other areas too. 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. Due

to development of infrastructure and continuous efforts on the part of State as well as Central Govt. industrialization in the state has gained further momentum during the last two decades. SSIs were engaged in the production of traditional items, but now the industries in Himachal Pradesh are producing high technology precision items, like Televisions Components, Computer Components, LDPE/HDPE pipe, Watch Components, Textiles, etc
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1 )Albert Shapero, Entrepreneurship and Economic Development, Project ISEED, Ltd. (Milwaukee, WI: Center for Venture Management, summer 1975), p. 187.

A good number of MSMEs have come up in the state particularly in Solan, Sirmour and Una districts of the state which has changed the industrial scenario of the state substantially. 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. 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. In this regard the proposal for EDC at department of management sciences is being proposed. As an accredited university under UGC and AICTE, Shoolini University intends to participate in AICTE quality improvement schemes2012-13 wide advertisement no. RIFD/10(04)/2012-13. Which will formalize the working of EDC and also amidst in receiving institutional support from various government, semi government, private organisations for the training, development and resource support to young entrepreneurs.

Introduction The entrepreneurs have been the whistleblowers of change and getting the things done themselves; with the seed of a basic idea an entrepreneur takes calculated financial risks and collaborating skilled people to start an enterprise. 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. Entrepreneurship has some element of innovation and

growth potential. every self-employed person is not an entrepreneur Entrepreneurs bring productivity gains through innovations and enhance competitiveness.
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. This basic instinct of trusting on your ownself makes an entrepreneur different from a business man. Every person has a business idea but the one who try to make it possible is an entrepreneur. With calculated risks and intensive market research a person turns an idea into a business.

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

And for this entrepreneurship it is important to polish the crude gem by entrepreneurship and development initiative. 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. A strong

entrepreneurial culture means there is less off stigma associated with failure and recognizes the crucial role of entrepreneurs in creating new jobs.

The research also found out that a culture of entrepreneurship is particularly strong in the rapidgrowth markets. Especially impressive are the performances of India and China, where more than 90% of respondents perceive the culture to be conducive to entrepreneurship.
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1 )Albert Shapero, Entrepreneurship and Economic Development, Project ISEED, Ltd. (Milwaukee, WI: Center for Venture Management, summer 1975), p. 187.

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, adaptability, and grasping of opportunity and it is all because of prevalence of entrepreneurial culture in the economy. The above statement can be well supported with the help of factual data given; taking into account the period 2003 to 2007 the generation of employment has reached 7.2 millions which is more than the total jobs being generated in Japan and Europe. 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. Post tax earnings have gone up by 9.6% that is $2,840 from the time when the president has taken oven the charge. The growth of America is in leaps and bounds and that is all because of the insistence and efficiency of American entrepreneurs. b) Importance of entrepreneurship in European economy: The importance of entrepreneurial activities was realized by the European economy in the year 1980. Recently a number of fresh opportunities for entrepreneurial proposals are being dug up in European economy. The entrepreneurs are today seen as the catalyst which speeds up the process of creating wealth for the economy, providing jobs, and providing an assorted range of goods and services to the consumers. Entrepreneurial undertakings are now being introduced to college going students which could give them an idea of creating and managing firms, relevance of entrepreneurship firms to European financial system, uniqueness of monetary ventures, managing human resources, pecuniary transactions, legality in dealings, and learning entrepreneurial skills.

In the pre colonial times the Indian trade and business was at its peak. Indians were experts in smelting of metals such as brass and tin. Kanishka Empire in the 1st century started nurturing Indian entrepreneurs and traders. Following that period, in around 1600 A.D., India established its trade relationship with Roman Empire. The popular belief that India had never been an industrial country is incorrect. It was true that agriculture was the dominant occupation of her people but the products of Indian industries enjoyed a worldwide reputation. The muslin of Dacca, the calicos of Bengal, the sarees of Banaras and other cotton fabrics were known to the foreigners. Egyptian mummies dating back to 2000 B.C. were wrapped in Indian muslin.

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

Before 1991, Indian business success was a function of ambition, licenses, government contacts, and an understanding of the bureaucratic system. Decisions were based on connections, rather than the market or competition. Business goals reflected a continuation of the Swadeshi movement, which promoted import substitution to attain economic freedom from the West. Pre-1991 policies were inward looking and geared towards the attainment of self-reliance. During this era, entrepreneurship was subdued, capital was limited and India had very few success stories. As well, society was risk averse and the individual looked primarily for employment stability. In 1991, the Indian government liberalized the economy, thus changing the competitive landscape. Family businesses, which dominated Indian markets, now faced competition from multinationals that had superior technology, financial strength and deeper managerial resources. Thus, Indian businesses had to change their focus and re-orient their outlook outward. A few existing Indian business families adapted to the new economic policy while others struggled. Importantly, a new breed of business was born, one that focused on ICT (Information and Communication Technology) and created wealth for owners and employees. For the old business houses, success had come from the close-knit joint family structure that fosters family values, teamwork, tenacity and continuity. Under this structure, generations lived and worked together under one roof, reaffirming the Weberian values and trust that have built successful businesses. Wealth from the businesses supported the joint family by providing a social safety net for members. In the structure, businesses and families were intertwined though they were also distinct entities with separate rules. Hence, survival of the family became synonymous with the survival of the business. Liberalization, however, changed the very nature of the joint family. If large Indian businesses were to succeed, the family would have to re-orient itself to compete in a global, competitive environment. Post liberalization, IT businesses succeeded because they were customer focused and professionally managed. The old, family-managed businesses, which formed the backbone of the economy, needed to evolve and become more institutional, if they were to extend their life cycle. Below, using the Indian mythology trinity of creation, preservation and destruction, I explain the changes that family businesses would have to make below.

Seed bed for innovation SCOPE


The importance of entrepreneurship is due its vast effect on the economy of any country. Recent survey ,undertaken by Goldman Sachs Pricewaterhouse Coopers, have estimated that India has the potential to be among the worlds leading economies by 2050 and tis is possible because of vast opportunity for entrepreneurs like democratic open society, strong technology base vibrant capital market including growing private equity and venture capital markets, increasingly youthful population(50% of India is 25 years and younger) and much more. To support this statement the GEM gave the graph: Opportunity-Based Entrepreneurial Activity and 2002 Projected Growth in GDP

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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 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. GEM data also suggests that there is no country that has high levels of entrepreneurship and low levels of economic growth (Reynolds et al., 2002, p. 24).2 In the Indian context also, a study found a similar trend. On the basis of a cross section of data for 17 major states of the country, the study found a positive impact of the Index of Entrepreneurship on per capita income. The regression results indicate that a unit change in the value of the Index of Entrepreneurship will bring Rs. 185.40 change in per capita income

http://www.google.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. Development of entrepreneurs in India is one of the major thrust areas for the development of the Indian economy. 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 following reasons are responsible: 9
1 )Albert Shapero, Entrepreneurship and Economic Development, Project ISEED, Ltd. (Milwaukee, WI: Center for Venture Management, summer 1975), p. 187.

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, 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. 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) RBIs role and steps for the development of SSI. 10

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

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. The role on the cell is to navigate the entrepreneur and help him find the way. The navigation is done by introduction to entrepreneurship, training, development, information centre. It helps to generate awareness among the common man to think out of the box and start thinking to be more industrious. The role of EDC is not merely educating the young entrepreneurs but also to create connections of the institute with the industry. Its activities of establishment of corporate relation will lead to institutional sustainability, social sustainability, entrepreneur cultural sustainability, economic sustainability. 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, entrepreneur and who so ever comes for guidance in entrepreneurship. The entrepreneur development cell will create an environment for self employment through various formal and non-formal encouraging programmes. Need for EDC in himachal: Industrial investment in himachal Pradesh:

Himachal Pradesh provide good industrial investment environment. Through the successive industrial policies and other investor friendly measures, the state has been striving to accelerate the flow of investment into industrial sector. State is providing the best services to the industrial investors, besides maintaining investor friendly environment in the state by doing away with procedural hazards for setting up of industrial units. The policies pursued by the state have resulted in promoting investment in general, diversification of industries and generation of employment opportunities. Himachal Pradesh has attracted industrial investment proposals of more than Rs18105 crores in the last four years. State has rich resources of water, agro, forests, herbal and minerals in addition with tremendous potential for investment in tourism sector

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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 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,

Krishak Mitra, horticulture development, power state development, Land Bank, etc.
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1 )Albert Shapero, Entrepreneurship and Economic Development, Project ISEED, Ltd. (Milwaukee, WI: Center for Venture Management, summer 1975), p. 187.

Need for entrepreneur development in himachal:

While there always is an autonomous supply of entrepreneurs in all parts of the world, in the developing countries it falls short of the quantity that is necessary to adequately exploit resources to generate wealth and employment. There are also issues pertaining to the quality of entrepreneurs. The quality of whatever little autonomous supply of entrepreneurs these developing countries have is also rather suspect. This is amply reflected in the high (close to 40%) industrial sickness in these countries, including India. Though, several initiatives are in place to promote entrepreneurship in the country, the efforts are disjointed. There is a plethora of policies such as Micro, Small and Medium Enterprise Policy, Manufacturing Policy, Competition Policy, Industrial policy, Science and Technology Policy, National Design Policy, etc., that touch upon and have implications for entrepreneurship, directly and indirectly. But the focus on entrepreneurship remains fragmented and devoid of any strategy content. 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. India unfortunately is deficient on both counts. India needs opportunity-driven competent entrepreneurs, who set up sustainable enterprises, create employment, and generate wealth, 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. As a result, whenever the economy does well, the size of self-employed category invariably shrinks, as these self-employed pseudo entrepreneurs move to jobs that provide financial security and decent earning, which, as self-employed, they will seldom earn. The question is; 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, is to augment the supply of well-groomed opportunity and innovation driven entrepreneurs, rather than factor or necessity driven self-employed. We must create job providers in larger numbers rather than job seekers. Importance of EDC at the education level: The Government realises that there is a need to catch them young. This requires inculcating entrepreneurial values and skills in them at a young age. This may also require introducing entrepreneurship in the education system. There is also a need to inculcate entrepreneurial temper in society at large to make all walks of life entrepreneurial, to make India an entrepreneurial nation wherein entrepreneurship becomes a way of thinking, a way of life. Introducing entrepreneurship in the education system at all levels to orient and prepare students for an entrepreneurship career by imparting skills, knowledge and aptitude for entrepreneurship. By introduction of entrepreneur development at educational level we try to stimulate entrepreneurial thought process as early as possible in potential entrepreneurs, it
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1 )Albert Shapero, Entrepreneurship and Economic Development, Project ISEED, Ltd. (Milwaukee, WI: Center for Venture Management, summer 1975), p. 187.

also helps to create an ecosystem which will support small business man and entrepreneurs .

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

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

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

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

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

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

Need of EDC at Shoolini University: In order to meet the global demands and challenges in the Indian Industry along with generation of employment, entrepreneur development should be given priority. 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. 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. As EDC is not only limited to academic aspect, its operations will lead to industry interaction, learning by doing pattern and establish an entrepreneurial culture in the local community and state level.

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, consultancy of SME and tiny enterprises to MNCs. 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, infrastructure & resource mobilization Edc Production & technical operations Financial planning & budgeting Marketing sales, customer service

State government

NGO

Industry

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

Objective 1 2 3

Target

Activities

Organisational structure: As mentioned in the guidelines of the AICTE to establish EDC. 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. The composition of the committee should be as follows: A. Director/principal/dean of the institute/college/university -(chairman of the committee) B. Dean (research/planning) -(member) C. Head of three departments (by rotation) -(member) D. Three to five representatives from different industries of the region -(members) E. Chief Coordinator -(convenor/secretary) Note: minutes of the meeting should be sent to the AICTE. 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

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

Roles and responsibilities:

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

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