Supporting Research-Inspired Entrepreneurial Activities in India

Abstract

Nations built on innovation, entrepreneurship, and production are able to dominate the world economy. However, risk taking has traditionally been discouraged in developing nations. 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. Easy access to information, mentorship, and a network of venture capitalists and angel investors also 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. Some of the recently emerging trends indicate that scientific and technological innovators from India are now willing to be a part of the global entrepreneurial revolution. Research-inspired entrepreneurial initiatives are expected to play a key role in facilitating India’s economic growth in the coming years. This article focuses on the initiatives undertaken by the Indian Government and by various academic institutes to facilitate entrepreneurial activities across the country. Cherish creativity, be bold, and have the audacity to seek and discover. Never lose your nerve!