Enterpreneurship not taking off in India-Why?

deepakraam

Par 100 posts (V.I.P)
India has made a significant impact on silicon valley and more Indians are taking the role of CEOs in top companies in the world.Still in India there isn't much entrepreneurial activity taking place.People prefer to be employees than employers.Students coming from top institutes like IITs and IIMs are lured away by big investment banks for a hefty pays.So the entreprenueship in India hasn't taken off.There are some exceptions like Narayan Murthy,a middle class entrepreneur(his simplicity makes me to call him like this :)) What do you think is the major stumbling block for an employee to become entrepreneur?

Pour your thoughts.


-Deepak.
 

deepakraam

Par 100 posts (V.I.P)
According to me :People are not willing to take risks.This is a major stumbling block.I would blame a part on our culture which doesn't encourage you to think out-of-the-box and pressures you to stay in a conservative mood and follow others.Most of the parent's don't allow their child to think on their own.They will pay heed to their neighbor's opinion than asking their child.If a child is willing to travel the road not taken before,parent's don't allow and instead criticize the child to follow their advice.I would blame rest on the individual for accepting whatever is said by their parents.Children should explore the options available in the world and then select whatever interests them.Children should also openly talk with parents about their ambitions and
passion.Parents should also allow their child to live the life in their way.So right from childhood people are not encouraged to take risks.This pattern even continues after becoming a grown teenager.

Whenever people think about starting a new venture,environment started warning the individual about the pits and downfalls.This indirectly influences him to stop thinking about the venture.


So I would say "If you have the passion to start a business and dire attitude to stay in the race,then the world is yours."


-Deepak.
 

ramboramji

New member
Hi,
its not just matter of "willingness to take risk".Well, people are running out of Ideas.We need youth to concentrate on different fields and bring out different ideas for business.Almost all the Enginnering students prefer software jobs and they seldom consider an option of starting their own concern.They need to have a thorough knowledge of what business they are going to take up and try to evaluate themselves where they stand.It needs courage and knowledge too for Enterpreneurship.Colleges train them for campus placements and not for Enterpreneurship.This must be changed.

Cheers,
Ramji.
 

varunkohli.jim

Par 100 posts (V.I.P)
Well friend first of all I must say that this is a great topic..... well according to me the basic problem of lacking in the entrepreneurs in India is the problem of getting funds...
no matter new companies are there to provide the financial services to persons but what about the delay in getting it approved as well as the amount given in the form of bribe...
It is said that: "Corruption is there in the blood of Indians..." and according to me it is correct.....
Everywhere you go it would follow u.... no matter is the public corporation or private no matter it is undertaken by government or by any private company... everywhere there is corruption...
"Ideas get failed when the Implementation is delayed...." and due to the corruption being flowing in the blood of we all Indians....
"100 main 90 baimaan fir bhi mera desh mahan..."

Come on.... why always this... try to change this statement and make our economy a clean and clear one......
Stand up and fight against it.... I know that we all are there in the market either now or after sometime to sell ourselves... so just try to remove this corruption by ur end itself... and never think that some1 would be there who would take initiative come forward..... buddy
 

ROHAN KACHALIA

Par 100 posts (V.I.P)
Hey i feel the main reason why we lack ENTREPRENEURS is because our B-schools cant produce an entrepreneur. Out of lakhs n crores of students passing out of various institutes all over India, we rarely find a bunch of students who are raring to chase their entrepreneural dreams. And more importantly many of us dont know what does an entrepreneur do, what are the qualities needed to be a successful entrepreneur(E) and so on. Infact any of the B-schools in India doesnt have a full time degree course on E that urges students to find an E in himself.

And the other factor, the pay package that most MNCs and Indian companies and Banks offer are more lucrative than starting as an E which involves huge initial risk and capital. So majority of students shelve their plans of being an E.

So the only thing which I feel can urge Eship is the introduction of this as a course in degree level and than a student can start slowly and steadily his Entrepreneural dream and get an idea how is it and by doing a PG course can fetch more knowledge.
 

kartik

Kartik Raichura
Staff member
Do you really think that entrepreneurship can be taught?

Its something that you need to experience yourself. There is though a trade off between pursuing entrepreneurship to taking up a secure job. The one's who burn all their ships and plunge into entrepreneurship are the ones that succeed. The question is.... are you ready to take the plunge ?
 

ROHAN KACHALIA

Par 100 posts (V.I.P)
Do you really think that entrepreneurship can be taught?

Yes, I really think that Eship can be taught. Well to be an E you must be knowing of the risks factor to your business and also how to mitigate risk and this can be taught by the E themselves who know the markets better than a starter. And also to evaluate the idea, the feasibility,the capital requirements etc. can be taught. Eship training can also help to reduce mistakes if we have experts sharing knowledge with us.

And I am not saying to have an outdated syllabus which includes theories what Jack Welch,,Steve Jobs,,Dhirubhai Ambani followed....we want what the present E has learnt which will be helpful for others to start their business.

And I think Es can aslo be made, they need not always born.
Why not have a subject like Eship just like science or mathematics....

If dabbawalas can give a lecture on management than present Es can come together an start imparting knowlege to budding E.

The question is.... are you ready to take the plunge ?

Yes I agree that you need to have that fire in your belly to be an E but that fire can also be brought from sharing knowledge and urging ppl to be an E.
 

deepakraam

Par 100 posts (V.I.P)
The main factors as collected from here revolves around the following:

1.Youth running out of Ideas
2.Lack of Funding and corruption
3.Entreprenuership not taught in schools


Youth are not running out of Ideas.Infact they are flooded with ideas.They don't know how to incubate those ideas.We must introduce many forums to make sure all ideas receive proper acknowledgement.I would say "the fear of losing/fighting grips the youth".

Lack of Funding/corruption is only the second step.I don't agree completely agree to this fact in this globalised world.If you have a proper framework for your business and if you are ready to convince the people then there are PEs ready to support you financially.In recent times,if you take any business newspaper in India there are lot of small companies receiving funds from abroad.So the lack of funding doesn't stop anyone from starting a business.

Entrenuership can't be taught as a classroom subject.People are ready to support entrepreneurs.Even a course like MBA teaches you how to row a boat.Finally it is you who has to start the boat and plunge into the sea.


Last but not the least:Thanks a lot for your wonderful responses and awaiting many more ideas like this for this topic.


-Deepak.
 

dhiraj2009

New member
@chirag,

In our country, the need for entrepreneurs—though recognised by our policymakers—has yet to find enthusiastic backing in our institutes. In spite of being in existence of about 45 years, none of the Indian Institutes of Management (IIMs) or Indian Institutes of Technology (IITs) has created a ‘Silicon Valley’ in their vicinity, though some institutions such as the Indian School of Business (ISB), Hyderabad, and IIT Bombay have taken proactive measures in creating job creators rather than job seekers.

Beside top b-schools, EDI and ICECD in Ahmedabad are also excellent for creating entrepreneur by their entrepreneurship management course specially designed for the same.
 

trance

New member
@chirag,

In our country, the need for entrepreneurs—though recognised by our policymakers—has yet to find enthusiastic backing in our institutes. In spite of being in existence of about 45 years, none of the Indian Institutes of Management (IIMs) or Indian Institutes of Technology (IITs) has created a ‘Silicon Valley’ in their vicinity, though some institutions such as the Indian School of Business (ISB), Hyderabad, and IIT Bombay have taken proactive measures in creating job creators rather than job seekers.

Beside top b-schools, EDI and ICECD in Ahmedabad are also excellent for creating entrepreneur by their entrepreneurship management course specially designed for the same.

The , most important thing here is the willingness to be an entrepreneur and one of the following:
  • Company CEO
  • Corporate Manager
  • Corporate Vice-President
  • Department Manager
  • Business Consultant
    etc etc
Beside this, there are many other career options having taken Entrepreneurship course. I took entrepreneurship course from ICECD, two years back, this was because i never could have understood my career goals when i try to see myself 10 years down the line. I always thought what was i meant for? Then i realized that one or the other day, i would start my own venture. My inst. was not a big name that time, but it evolved a lot as time passed. we didnt had any junior batch as the program was of 1 year, so just in alumni meet i came to know that many of my batchmates and juniors have done very well in their respective areas.
Today, I'm a part of leading automobile service center in Jaipur which deal in CUV and Sedan. Thanks to all my mates who have helped me in brainstorming in these years. cheers
 

amorous

New member
lack of venture capitalists is the primary reason for enterpreneurship not successful in india or any third world country
 

trance

New member
lack of venture capitalists is the primary reason for enterpreneurship not successful in india or any third world country

Take it as Keynesian concept, that once you create more of supply of jobs, the demand will be generated automatically. the experts of this concept here is that if you start by investing or getting financed, what all you need to have is a formal backup of planning. Planning is the most imp of all, this is where a formal education has its significance.
 

vicky08

New member
how can India unleash its innovation and entrepreneurship potential? Well, the answer is many-fold according to me. One of the most important steps that we need to take is to nurture intimate collaboration between the industry and academia, specially for urban, high-skilled entrepreneurship. I have experienced this myself here at CMI. This place is excellent in terms of the quality of education; in some aspects, even better than many of the IITs. We have high-quality intense Math and Computer Science courses and learn a lot. But when it comes to interaction with the 'real world' out there, I feel a short-coming. One such rare opportunity came by this year, when a start-up '4am' (4am Design and Technology Labs) visited our campus. It was the first direct interaction we had with industry people without having to go and work there necessarily. And, although what was spoken was not strictly technical, there was a phenomenal exchange of ideas and views. It made us think, just the way we would think on a research problem. And from the discussions I've had with my friends in various institutes (including IITs etc.), I feel this is what is missing - the courage and passion to think outside the 'given set of rules'. These qualities should be consciously nurtured amongst youngsters. All students are pushed to do is to get good grades, build a solid CV etc. Of course, this is important, but we Indians tend to lose sight of other important concepts. Some good steps have been taken in this regard – like the entrepreneurship cell (The Entrepreneurship Cell, IIT Bombay , SINE : Society for Innovation and Entrepreneurship, IIT Bombay) at IIT Bombay. But these are sporadic reactions to the problem. This nurturing needs to happen everywhere across India. Companies should generously fund research projects undertaken in colleges, even if they are not directly related to their product profile. Colleges should develop alumni associations and encourage intense interaction between the alumni and present students. On one hand, alumni can share their wisdom, while on the other, the young people can pour in their enthusiastic ideas. For most of the ideas mentioned above, I can show you a school which is the perfect combination of academia and industry – the Massachusetts Institute of Technology. It's a place driven by entrepreneurs where academicians flourish. It is a partnership which has benefited both groups tremendously. As an example, consider this - (http://www.mitadmissions.org/topics/pulse/mit_inventions_breakthroughs/e...). It tells how students at MIT are allowed to even take a year off from their course and pursue an idea they have in their mind. This kind of flexibility is very rare in Indian institutes. It's only because of this culture that concepts like OpenCourseWare (Free Online Course Materials | MIT OpenCourseWare) were born - a concept which has benefited the academic community to such an extent that it would be almost impossible to put a measure on it. We need to encourage angel investors and venture capitalists which in turn will encourage entrepreneurship. Programs like 'Power of Ideas' which Economic Times launched (Home - The Power of Ideas - The Economic Times) recently need to get more affirmation and support.
 

dman

New member
They are doing studies currently in the USA to determine why america breeds more entrepreneurs than any other country.
 

suaveboy

Banned
According to me :people are not willing to take risks.This is a major stumbling block.I would blame a part on our culture which doesn't encourage you to think out-of-the-box and pressures you to stay in a conservative mood and follow others.Most of the parent's don't allow their child to think on their own.They will pay heed to their neighbor's opinion than asking their child.If a child is willing to travel the road not taken before,parent's don't allow and instead criticize the child to follow their advice.I would blame rest on the individual for accepting whatever is said by their parents.Children should explore the options available in the world and then select whatever interests them.Children should also openly talk with parents about their ambitions and
passion.Parents should also allow their child to live the life in their way.So right from childhood people are not encouraged to take risks.This pattern even continues after becoming a grown teenager.

Whenever people think about starting a new venture,environment started warning the individual about the pits and downfalls.This indirectly influences him to stop thinking about the venture.


So I would say "If you have the passion to start a business and dire attitude to stay in the race,then the world is yours.":SugarwareZ-083:
 
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