Abstract
Supporting Research-Inspired Entrepreneurial Activities in India
Highlights
Entrepreneurship is defined as the ability to develop a business model in an attempt to find a creative solution to an existing problem, quite often using limited resources (Stevenson, 1983)
It concludes with a mix of optimism and caution: if the challenges can be overcome and the opportunities can be taken, the scene is set for Indian entrepreneurs to redefine and reinvigorate the Indian economy
The “Make in India” and “Startup India” programs have clearly outlined a detailed roadmap that would encourage researchers to turn their innovations into successful businesses
Summary
The uncertainty and financial insecurity associated with entrepreneurial activities are the greatest barriers that budding entrepreneurs need to overcome in order to transition into successful entrepreneurs. This challenge needs substantial effort and steady support from society. Mentorship, and a network of venture capitalists and angel investors play critical roles in promoting entrepreneurial activities. To this end, the Government of India recently launched a nationwide campaign to promote entrepreneurial activities across the country. This article focuses on the initiatives undertaken by the Indian Government and by various academic institutes to facilitate entrepreneurial activities across the country
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