Entrepreneurship Development Cell
I: The main advantages of becoming an entrepreneur are:
- Flexible schedule of work.
- Operational autonomy.
- Scope to learn more from business which can prevent complacency.
- Constant professional growth
- Join with the ambitious people and contribute for bettering themselves.
- Handle unexpected circumstances/situations successfully
- Improves confidence and self-sufficiency.
- Develops the self-discipline, communication skills, passion, optimism, patience, and unrelenting work ethics, etc.,
II: The Initiatives by college to support students to become entrepreneurs:
- Organises the awareness programmes on entrepreneurship. About 70% of students are covered under this programme so far.
- Associate with national and international institutes like NSIC, NIMSME and ALEAP etc., to organise programmes on EDPs
- Arrange guest lectures on specific topics of entrepreneurship like business planning, motivation, leadership, etc.,
- Invites successful entrepreneurs to interact with students and shared their experiences and pitfalls.
- Visits business units to have practical exposure of business and for understanding the intricacies of the business.
- Encourages divergent thinking through informal discussions, ask open-ended questions, work on problem-solving, share ideas and build on learning experiences together.
- Conducts the role plays, case studies on success/failure of entrepreneurs and learn from their experience.
III : The trends in market for entrepreneurs are:
- Adoption of Disruptive Technology
- Marketing becomes more interactive.
- The Internet of Things will become more important.
- Automation will be more widespread.
- Optimization is becoming the new risk management.
- Economies are suffering with recession and more players in business want to play safe. However, many entrepreneurs are looking for pursuing new market opportunities.
- Industry-specific start-ups are seeing the greatest growth.
- Non-technical entrepreneurs are winning with partnerships
- Teams are using technology to maximize their operations.
- Companies are becoming more culture-conscious
- The rise of digital nomadism
- Globalized Business trend is hot in particular sectors especially media and professional services.
- Mobile Commerce is occupying a predominant role and provides lot of opportunities.
- Social Commerce: Started selling and buying online social media sites and apps.
- Niche Markets provide more opportunities to entrepreneurs
- The Rise of Subscription-Based Business which includes telecom, healthcare, media and entertainment, retail, and IT among many others.
- Ethical businesses and products are also creating new niches.
- More Specialized Business Education
- Younger Entrepreneurs: Many younger people have strong motivations to become businessmen
- Increased use of these video conferencing tools
- More opportunities for selling of products at premium rates like masks, sanitizers, etc.
- COVID-19 pandemic made a major impact upon the entrepreneurial finance market
- Personal disposable incomes of individuals have been reduced to a greater degree in the post-pandemic world.
IV: Support from Government of India and Government of Telangana: They are:
A: Government of India
- NITI AAYOG since 2016
- New Generation Innovation and Entrepreneurship Development Centre (NexGen IEDC)
- MSME Market Development Assistance
- The Women Entrepreneurship Platform (WEP)
- Self-Employment Lending Schemes Credit Line 2 – Micro Financing Scheme
- The National Minorities Development & Finance Corporation (NMDFC) scheme
- Swarojgar Credit Card
- Venture Capital Scheme for Agri-Business Development
- Raw Material Assistance scheme
- Pradhan Mantri Mudra Yojana
- Sustainable Finance Scheme
- Multiplier Grants Scheme (MGS) for IT Research and Development
- Modified Special Incentive Package Scheme (M-SIPS
- The Venture Capital Assistance Scheme
- Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE)
- National Small Industries Corporation or NSIC has launched Raw Material Assistance scheme.
- Infrastructure Development Scheme of NSIC
- MSME Market Development Assistance
- Credit Linked Capital Subsidy for Technology Upgradation
- Atal Incubation Centres (AIC)
- Bridge Loan Against MNRE Capital Subsidy
- Modified Special Incentive Package Scheme (M-SIPS)
- Dairy Entrepreneurship Development Scheme
- Single Point Registration Scheme (SPRS)
B: Scheme for Women Entrepreneurs:
1. Bhartiya Mahila Bank (BMB) business loan:
2. Annapurna scheme
3. Stree shakti Package
4. TREAD (Trade Related Entrepreneurship Assistance and Development) scheme
5. Banks Special Schemes for Women Financing.
C: Support extended by Government of Telangana State
- T-IDEA -Telangana State Industrial Development and Entrepreneur Advancement.
- IT-Ipass: clearance to set up industries in 15 days
- VC’s & Angel Investors Scheme
- BitChemy Ventures -Seed stage venture capital fund and a technology incubator
- Telangana Academy for Skill & Knowledge Technology Entrepreneurship Program
- ISB-Technology Entrepreneurship Programme -Mentor Support
- JNTUH -EDP Cell – Mentoring Programme
- T-HUB (Incubator)
- TEMPO (Telangana Entrepreneurs Motivational & Promotional Organization)
- The Agri-Business Incubation (ABI) program
- Tie up with many organisations/associations for incubation/mentoring or handholding services.