Gone are the days when running after government jobs and managing someone else’s business for peanuts was the norm. Youths have now taken it up to themselves to create avenues for themselves and others. Rather than being takers, youth are now keen on becoming providers, which is setting a new benchmark in the global business. The head to head competition between businesses, higher unemployment rates have led to many educated youths to formulate ways to develop a sustainable career options for themselves. Not only does starting a business of their own help them become self-sufficient but it also has helped in boosting the economy while encouraging healthy competition in the market. Some big companies and tech giants who charged a hefty sum for their products and services have also slashed their rates due to new young entrepreneurs jumping into the market, offering same quality services at comparatively lower rates. This has made technologies and services affordable for everyone. Governments have also joined hands with changemakers by providing them exposure through Entrepreneur development programmes.
This Blog Includes:
- Understanding Entrepreneur Development Programmes
- Objectives of Entrepreneurship Development Programmes
- Some Entrepreneur Development Programmes You Should Know About
- Top Government Schemes for Entrepreneurship Development
Understanding Entrepreneur Development Programmes
Entrepreneur Development Program (EDP) is meant to develop entrepreneurship skills among people. Providing all necessary knowledge and required skills, it helps people establish and run their own business. Contributing a major share to the economy, entrepreneurs are an asset to the country. Besides, being changemakers and catalysts for the employment generation, they also help create sustainable solutions to regional and global issues. Thus through these programmes, the governments all over the world have started to encourage and channelise young talent.
Objectives of Entrepreneurship Development Programmes
The core objective of the EDP is to inculcate entrepreneurship development skills in young aspirants and help in the generation of employment in various sectors while encouraging self-sufficiency among the educated youth. Discussed below are some of the objectives of Entrepreneur Development Programmes:
- To develop and reinforce entrepreneurial skills in an individual.
- Mentally and morally preparing an aspiring entrepreneur towards creating his/her own establishment.
- Selecting the product or service.
- Analyzing market risks and competitors and formulating a sustainable model.
- Understanding the steps involved in establishing an enterprise.
- Obtaining the required managerial skills needed to run a business successfully.
- Locating resources and available support and opportunities.
- Preparing beforehand for possible situations.
- Inculcate decision-making skills and learning the market for the scope of expansion.
- Follow due legal procedures while conducting business to maintain an industrial democracy.
- To help communicate with potential investors, partners and competitors while effectively reaching out to the targeted audience.
Some Entrepreneur Development Programmes You Should Know About
The Government of India has been on the forefront in promoting new business ideas that would in turn help in the development of the economy. Some of the popular Entrepreneur Development Programmes include:
Young Entrepreneurs Academy (YEA!)
The academy trains young students ageing from 11 to 18 into confident entrepreneurs. With its groundbreaking approach, Young Entrepreneurs Academy helps students develop business ideas, write business plans, sell their ideas to investors and conduct market research before establishing a start-up.
TiE Young Entrepreneurs (TYE)
An initiative by The Indus Entrepreneurs (TiE), the program has a global outreach that aims to empower next-generation leaders and entrepreneurs. One of the popular Entrepreneur Development Programmes, TiE Young Entrepreneurs program was initiated in 2014 follows a unique approach towards learning and imparting education on setting up businesses. The 8-week program is conducted at IIT, Delhi with some of the best mentors to guide you.
Startup India Learning Programme
A free online program by Startup India, it is an initiative of the Government of India to promote startups and invest in them. The aim of Startup India Learning Programme is to help entrepreneurs to materialize their ideas while creating job opportunities for others also. The 4-week extensive program follows structured learning and interactions with the leaders in the field.
Start Your Business (SYB) Programme[optin-monster-shortcode id=”xf2mlnjiouddzrshykdb”]
An entrepreneurial education program, Start Your Business (SYB) serves the needs of budding entrepreneurs to help them acquire the necessary skills and knowledge required to materialize their ideas into reality. During the program, the young entrepreneurs are given an opportunity to interact with a network of businessmen and influencers in the field.
Top Government Schemes for Entrepreneurship Development
Besides Entrepreneur Development Programmes, the government has also launched schemes to promote entrepreneurial growth in the country. Listed below are some of the top schemes that we help you set up your own business:
|Multiplier Grants Scheme (MGS) for IT Research and Development||Department of Electronics and Information Technology (DeitY)|
|Modified Special Incentive Package Scheme (M-SIPS)||Department of Electronics and Information Technology (DeitY)|
|The Venture Capital Assistance Scheme||Small Farmers’ Agri-Business Consortium (SFAC)|
|Credit Guarantee||Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE)|
|Raw Material Assistance||National Small Industries Corporation or NSIC|
|Infrastructure Development Scheme||National Small Industries Corporation or NSIC|
|MSME Market Development Assistance||Office of the Development Commissioner (MSME)|
|Atal Incubation Centres (AIC)||Atal Innovation Mission, AIC|
|Bridge Loan Against MNRE Capital Subsidy||Indian Renewable Energy Development Agency (IREDA)|
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Entrepreneur Development Programmes are a great way to get started with achieving your business goals while receiving constant support from the government and the industry. Being the master of your own business is a great feat but it takes a lot of hard work and planning. If you think you need a business degree to power up your skills but you are low on funds, don’t worry, Leverage Edu has a solution for you. Book your 30-minutes free career counselling session with us now and explore the endless possibilities with us.