An Empirical Study to Understand the Influence of Government Initiatives and Individual Factors on Startups

Abstract

To fulfill the needs of a dynamic environment a country need startups, and to boost them a country needs a supporting environment. Every nation is motivating its individuals to become an entrepreneur. Government of India is making exceptional effort to support startups through various support programs, campaigns and policies. The government has initiated many schemes such as Startup India, AIM, Make in India, Multiplier Grants Schemes (MGS), Academic Research In Science, Engineering, Art and Management (ARSEAM) and many more to encourage individuals for building innovative startups. The objective is to excel its economy through employment opportunities, infrastructure development, technology upgradation and innovations. The study discusses the contributions made by the government in promotion and development of startups. But, entrepreneurship is not only influenced by the government initiatives, ‘Individual Factors’ plays an equally important role in building a startup. Individual factors such as creativity, innovative skills, and leadership qualities are equally important to motivate an individual to become an entrepreneur. The paper discusses the role of individual factors as well as the government support in entrepreneurial process. The paper also discusses the importance of both factors and does a comparative study through ‘Pearson Correlation Analysis’ to understand the significance of relationship between the startups and government initiatives and individual factors. Keywords: Entrepreneurship, correlation, creativity, subsidiaries, infrastructure, ventures Cite this Article Pragati Saxena. An Empirical Study to Understand the Influence of Government Initiatives and Individual Factors on Startups. OmniScience: A Multi-disciplinary Journal. 2018; 8(2): 32–41p.