Role of government in promoting entrepreneurship

Role of Government in promoting Entrepreneurship

1. ROLE OF GOVERNMENT IN PROMOTING ENTREPRENEURSHIP Presented by Simran Kaur MBA 2 nd year IGICM

2. Contents Entrepreneurial ecosystem India’s national innovation system India’s innovation ecosystem Current challenges Recent trending steps taken Steps that can be undertaken Policies undertaken

3. Entrepreneurial ecosystem

4. India’s national innovation system Councils and research structures which cater to different research areas. Examples: 1. Council of Scientific and Industrial Research ( CSIR): established in 1941; 39 laboratories 2. Indian Council of Agricultural Research (ICAR): established in 1929; 99 institutes and 17 research centres 3. Indian Council of Medical Research (ICMR): established in 1911; 30 laboratories 4. Defence Research & Development Organisation (DRDO): established in 1958; 48 laboratories

5. India’s national innovation system(contd.) 280 universities in public sector including IITs, IIMs 2500 in-house R&D centres Financial institutions such as the Industrial Development Bank of India (IDBI) and the Small Industries Development Bank of India (SIDBI)

6. India’s innovation ecosystem Knowledge economy, driven by fundamental research, and Commercial economy, driven by the marketplace. According to the Global Innovation Index (WIPO, 2014), India ranks 76th among the 143 countries surveyed. The reasons for this poor performance may be related to fragmentation and a lack of focus.

7. Current Challenges Fragmented policy and policy implementation Inadequate funding of R&D Difficult and lengthy funding process Non-conducive education system Poor infrastructure facilities in villages Risk version among entrepreneurs Inadequate protection of intellectual property rights

8. Recent trending steps Telangana government wants to start an incubator for startups, is planning to make Hyderabad a WiFi city as well. The central government has announced the formation of  MoS for Entrepreneurship. The   BJP had also promised to improve the technology infrastructure in the country by setting up Wi-Fi zones and 100 Hi tech cities . Kerala had setup an angel fund of Rs 10 cr angel fund to invest in startups. The state government also floated options to  allow students  to explore entrepreneurship (with 4% grace marks).

9. Steps that can be undertaken Have business-friendly laws and a functional, streamlined court system.  A void regulations that entrench special business interests, e.g. licensing requirements. Enforce market-corrective laws Protect intellectual property without it becoming a corporate welfare program. Make all public records and other non-secret government data available in real time Train health, fire, building inspectors, people in charge of any kind of permitting and enforcement. Hire competent people and keep up morale. Promote public works, trade. Fund public education, keep college affordable, encourage public and private universities and trade schools.

10. Policies undertaken Micro, Small and Medium Enterprises Development Organization (MSME-DO) National Small Industries Corporation Pvt. Ltd. (NSIC) Khadi and Village Industries Commission (KVIC) Coir Board Excise duty Foreign Direct Investment approval Labour laws

11. THANK YOU!!!