Entrepreneurship Development Cell

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

  1. NITI AAYOG since 2016
  2. New Generation Innovation and Entrepreneurship Development Centre (NexGen IEDC)
  3. MSME Market Development Assistance
  4. The Women Entrepreneurship Platform (WEP)
  5. Self-Employment Lending Schemes Credit Line 2 – Micro Financing Scheme
  6. The National Minorities Development & Finance Corporation (NMDFC) scheme
  7. Swarojgar Credit Card
  8. Venture Capital Scheme for Agri-Business Development
  9. Raw Material Assistance scheme
  10. Pradhan Mantri Mudra Yojana
  11. Sustainable Finance Scheme
  12. Multiplier Grants Scheme (MGS) for IT Research and Development
  13. Modified Special Incentive Package Scheme (M-SIPS
  14. The Venture Capital Assistance Scheme
  15. Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE)
  16. National Small Industries Corporation or NSIC has launched Raw Material Assistance scheme.
  17. Infrastructure Development Scheme of NSIC
  18. MSME Market Development Assistance
  19. Credit Linked Capital Subsidy for Technology Upgradation
  20. Atal Incubation Centres (AIC)
  21. Bridge Loan Against MNRE Capital Subsidy
  22. Modified Special Incentive Package Scheme (M-SIPS)
  23. Dairy Entrepreneurship Development Scheme
  24. 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

  1. T-IDEA -Telangana State Industrial Development and Entrepreneur Advancement.
  2. IT-Ipass: clearance to set up industries in 15 days
  3. VC’s & Angel Investors Scheme
  4. BitChemy Ventures -Seed stage venture capital fund and a technology incubator
  5. Telangana Academy for Skill & Knowledge Technology Entrepreneurship Program
  6. ISB-Technology Entrepreneurship Programme -Mentor Support
  7. JNTUH -EDP Cell – Mentoring Programme
  8. T-HUB (Incubator)
  9. TEMPO (Telangana Entrepreneurs Motivational & Promotional Organization)
  10. The Agri-Business Incubation (ABI) program
  11. Tie up with many organisations/associations for incubation/mentoring or handholding services.

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