Abstract
Entrepreneurs shape economic destiny of nations. Their innovative ideas are major source of competitiveness in an increasingly globalizing world economy. Without a strong entrepreneurial community the developing countries will not prosper despite their rich resource endowments. India is a young country with about 63 per cent population in the working age group. This demographic dividend needs to be en-cashed with priorities. Engagements of the youths in creative pursuits, embracing entrepreneurship will bring steadiness to the growth curve and socio-economic transformation. Regional disparities of this country are an issue of concern. In this context focus on the North East Region in general and the state of Arunachal Pradesh in particular are more relevant. The problem of this region can be tackled by harnessing entrepreneurship, by promoting Micro and Small Enterprises. This needs creation of an ecosystem grooming the youths with the relevant skills, inspiring motivation, igniting entrepreneurship and innovations. The present century has thrown up unfamiliar challenges. The pace of change has been fast and our youths have to synchronize them to face these challenges at fast track. An essential way to motivate youths is to celebrate their entrepreneurship, their innovations and their stories of success need to be told.
Highlights
Entrepreneurs shape economic destiny of nations by creating wealth and employment, offering products and services, generating taxes for Governments
The objectives of the study were to access the present scenario of entrepreneurship in North East Region of India (NER), to understand the relevance of entrepreneurship in the socio-economic development taking in considerations practical examples of the successful entrepreneurial initiatives and more importantly motivate the youths
We started with the hypotheses that the youths of the study area have the potential to be successful entrepreneurs; the initiative of social entrepreneurship has been emerging in NER
Summary
Entrepreneurs shape economic destiny of nations by creating wealth and employment, offering products and services, generating taxes for Governments. That is why entrepreneurship has closely been linked to economic growth. Entrepreneurs convert ideas into economic opportunities through innovations which are considered to be major source of competitiveness in an increasingly globalizing world economy. Most Governments in the world strive to augment supply of competent and globally competitive entrepreneurs in their respective countries. Without a strong entrepreneurial community the developing countries will not prosper despite their rich resource endowments [37]
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