Entrepreneurship development cycle 

Entrepreneurship development cycle  EDC

1. Entrepreneurship Development Cycle (EDC) By Kuldeep Mathur

2. Introduction of EDC Entrepreneurship Development Cycle Generating entrepreneurial awareness in the community through well planned publicity. Identifying and selecting potential entrepreneurs. Helping them through training to raise their motivational level. Improving their skills in modern management methods.

3. 3-Phases of EDC

4. Stimulatory Phase Stimulatory Phase Generating entrepreneurial awareness in the community through well planned publicity. Identifying and selecting potential entrepreneurs. Helping them through training to raise their motivational level. Entrepreneurial Education. Planned publicity for entrepreneurial opportunities. Identification of potential entrepreneurs through scientific methods. Motivational training to new entrepreneurs.

5. Support Phase Support Phase This includes all such activities that help entrepreneurs in establishing and running their enterprises. The activities in this phase may include: Registration of unit Arranging finance Providing land, shed, power, water etc Supply of raw materials Providing common facilities Help marketing product

6. Sustaining Phase Sustaining Phase Activities in this phase are all those that help the entrepreneur in continuous, efficient and profitable running of an enterprise. The sustaining activities may include: Help modernization Help diversification Help expansion Diagnostic industrial extension/consultancy source testing and improving services Need-based control facilities centre  

7. Institutions promoting entrepreneurship Institutions promoting entrepreneurship The institutes which are involved in entrepreneurship development, research and training are: National Institute of Small Industry Extension Training (NISIET) Entrepreneur Development Institute (EDI) National Institute for Entrepreneurship and Small Business Development (NIESBUD) Indian Institute of Entrepreneurship (IIE)

8. Institutions promoting entrepreneurship Supporting Institutions Nationalized Banks Co-operative Banks Small Industries Development Bank of India (SIDBI) Industrial Development Bank of India (IDBI) Industrial Credit and Investment Corporation of India (ICICI) State Financial Corporation (SFC) National Bank for Agriculture and Rural Development (NABARD) .