International Workshop I
"Entrepreneurship in Emerging Economies: The Path Ahead"
organized by E-Cell on 3rd March, 2018.
The Entrepreneurship Cell, SLC came into existence in the month of September'16 with the support of Dr. Rabi Narayan Kar, Principal, SLC. The E-Cell, SLC aims to foster entrepreneurship by focusing on creativity, innovation & learning by doing. Keeping the team vision of Test, Fail, Retest, Improve; the Cell has been able to embark a prodigious journey. In a span of 18 months, the Cell boasts of having collaborations with real time Startups, NGO's, Schools, Government Officials, Educational Institutes, Venture Capitalists and International Resource Persons. Speaking of accolades, the E-Cell, SLC won first position at National Entrepreneurship Challenge, 2017 conducted by IIT Bombay and grabbed first position at Digital Masala Challenge organized by IIT Kanpur in the year 2017.
The theme of this International Workshop is "Entrepreneurship in Emerging Economies: The Path Ahead". Entrepreneurship in simple terms means conceiving an idea and acting upon it. Entrepreneurs have been setting up businesses in India since ages by developing a sustainable eco-system that integrated well with the prerequisites of traditional business. Entrepreneurship fosters an ecosystem that paves in the way for developing economies to benefit out of the leading edge ideas. In the initial years, the country was dealing with the function of a bureaucratic system, licenses, and government contracts. During this era, entrepreneurship was highly subjugated. However, the year 1991 was considered the year of change. The Government liberalized the economy which led to changes in the thinking, choices and priorities of the society. Indian business players had to re-focus and re-orient their outlook.
Entrepreneurship plays an influential role in every economy by employment generation, dynamics, innovation, productivity and growth. An emerging economy can be described as one in which investment is expected to yield higher returns but also be accompanied by greater risk. The question is, "What is the role and potential of Entrepreneurship in an Emerging Economy?" According to statistics, it is difficult to suppress the Indian entrepreneurial spirit because it has grown and competed in the global market despite being pulled back by political risk, uncertainty, terrorism, etc. Entrepreneurs have shown their willingness to change and integrate the concept of Agile Development within their mindset; this helps them to adapt to the changing economic environment.
Since job creation has been a hurdle for the Indian Government, the Government of India has undertaken several initiatives and policy measures that helps in taking the much needed baby steps to foster entrepreneurship. Recognizing the importance of economic participation by Entrepreneurs, the Government of India has come up with various policies like Startup India, Make in India, Atal Innovation Mission, Support to Training and Employment Programme for Women (STEP), Stand-Up India and Trade related Entrepreneurship Assistance & Development, etc. With the help of such refined modelling, the country has been providing a 360 degree approach to enable startups, provide online learning programs, help in funding, launch incubation centers and promoting skill development. Keeping the recent synergy of mind, India can now be considered a centre of disruptive innovation and a hotbed of Entrepreneurial Talent and Ideas.
Why does entrepreneurship development aid institution and society? On the surface, the answer seems intuitive but the explanation is deeper than that. Starting with addressing serious problems like environment and efficiency, innovation and globalization, we come to realize that entrepreneurs do much more for a society than what easily comes to the mind.
Entrepreneurs take major financial risks and work long hours to build a business from the ground up but the immense satisfaction that accompanies the endeavor along with money, teamwork, flexibility and the chance to leave behind a legacy is more than enough for talented people to choose it as a career path.