Entrepreneurial Development - UNIT 3.pptx

Entrepreneurial development focuses on enhancing the skills, knowledge, and mindset of individuals to start and manage businesses effectively. Training plays a vital role in this process by improving creativity, risk-taking ability, decision-making, and managerial competence. The main objectives of entrepreneurial training include developing self-confidence, innovation, and problem-solving skills. Various methods such as lectures, workshops, simulations, and case studies are used. The training process benefits participants by increasing their entrepreneurial capacity, improving productivity, and promoting self-employment. Entrepreneurship Development Programs (EDPs) in emerging markets are crucial for fostering innovation, supporting startups, and driving sustainable economic growth and employment opportunities.

1. ENTREPRENEURIAL DEVELOPMENT UNIT III

2. Syllabus Entrepreneurial development training – importance of training, objectives of training - methods of training, benefits of training process–entrepreneurship development program in emerging markets.

3. ENTREPRENEURIAL DEVELOPMENT TRAINING EDT refers to the process of enhancing the knowledge, capabilities, and mindset of individuals to help them identify, start, and manage a business successfully .

4. Scope Develop Business Ideas Conduct Feasibility Studies Understand Legal Procedures Manage Business Operations Evaluate Risks and Opportunities

5. Need Most First-Generation Entrepreneurs Lack Exposure and Guidance Training Bridges the Knowledge Gap Helps Reduce Fear of Failure Promotes Entrepreneurial Culture in the Country

6. Target Beneficiaries Aspiring Entrepreneurs (Students, Job Seekers) Women and Minority Groups Rural Youth Existing MSME Owners

7. Key Institutions Offering EDT in India NIESBUD (National Institute for Entrepreneurship and Small Business Development) MSME Development Institutes RSETIs (Rural Self Employment Training Institutes) EDII (Entrepreneurship Development Institute of India) State Industrial Development Corporations (SIDCs)

8. IMPORTANCE OF TRAINING Encourages Self-Employment Fosters Economic Development Builds Confidence and Risk-Taking Ability Promotes Innovation Enhances Operational Efficiency

9. OBJECTIVES OF ENTREPRENEURIAL TRAINING Development of Entrepreneurial Skills Creation of Entrepreneurial Awareness Motivation for Business Ownership Knowledge of Business Processes Support for Sustainable Enterprise

10. METHODS OF ENTREPRENEURIAL TRAINING Classroom Lectures Case Study Method Simulation Exercises Business Games Role Play and Group Discussions Industrial Visits Project Work and Business Plan Preparation Mentoring and Coaching Online Modules and E-Learning

11. BENEFITS OF ENTREPRENEURIAL TRAINING PROCESS Improved Decision-Making Greater Innovation and Creativity Increased Employment Opportunities Access to Finance and Support Networks Personal and Professional Growth

12. EDPs IN EMERGING MARKETS Entrepreneurship Development Programmes (EDPs) are structured and time-bound training interventions aimed at developing entrepreneurial capabilities among individuals.

13. Need for EDPs in Emerging Economies a ) Addressing High Youth Unemployment b) Bridging the Urban–Rural Development Divide c) Promoting Innovation and Technology Adoption d) Ensuring Inclusive Economic Participation

14. Types of EDPs a ) General EDPs b) Women-Specific EDPs c) Sector-Specific EDPs d) Rural EDPs

15. Characteristics of EDPs Time-Bound with Defined Modules Emphasis on Practical Learning Pre- and Post-Training Evaluation Follow-Up Support Target Group Customization Entrepreneurial Motivation Building Linkages with Financial Institutions Access to Incubation and Infrastructure

16. MAJOR SCHEMES AND INITIATIVES IN INDIA SUPPORTING ENTREPRENEURSHIP Startup India Provides tax benefits, funding, and regulatory support to promote innovation and startup growth. MUDRA Yojana (Micro Units Development and Refinance Agency) Offers collateral-free microloans to small businesses, supporting entrepreneurship in rural and semi-urban areas.

17. Atal Innovation Mission (AIM) Promotes innovation through incubators, tinkering labs, and startup support across India. Skill India / Pradhan Mantri Kaushal Vikas Yojana (PMKVY) Trains youth in vocational and entrepreneurial skills to enhance employability and self-employment. TREAD Scheme for Women Supports women entrepreneurs with training, credit, and marketing via NGO-led initiatives.

18. Impact of EDPs in Emerging Markets Inclusive Economic Growth Employment Generation Regional Development Innovation and Local Problem Solving Contribution to GDP