Entrepreneurship Development in India – Encouraging Trends

Entrepreneurship IndiaThe 1991 economic liberalization in India revolutionized businesses completely. It led India to a growth trajectory that transformed India from a struggling economy to one of the best economies in the world. It has also spawned a host of entrepreneurs, big and small, who has created value and generated millions of jobs. An NSSO report says that 254 out of every 1000 Indians are self-employed, a respectable average globally.

An inspiring story of entrepreneurial success is that of Dhirubhai Ambani – Founder of Reliance Industries.  His first foray into entrepreneurship was as a student, selling fried snacks to pilgrims, who were on their way to Mount Girnar in Gujarat. At 16, he left for Yemen working as a lowly gas pump attendant. He returned with Rs. 50,000 to start a textile trading company and built one of India’s biggest corporate houses. The Reliance Group contributes nearly 3% of India’s GDP.

Another inspiring story for Women Entrepreneurs is that of Kiran Mazumdar Shaw, who started Biocon in her garage with just Rs. 10,000. The company now employs 6400+ people and has a turnover of Rs. 2,148 crores. Infosys, the world’s leading IT company was started with Rs. 10,000, reportedly obtained after pledging his wife - Sudha Murthy’s gold ornaments.  Infosys has over 1,51,151 employees with Rs 9,616 crores in turnover for June 2012 Quarter. For all aspiring Entrepreneurs who cite lack of capital as the primary reason for not starting a Business should understand that apart from start-up capital, mentorship, teamwork and focus are the key elements to growing a Business.

Looking at the future, the average Indian is expected to be 29 years old in 2020 as compared to 48 in USA, and 37 in China. This provides a great opportunity for young Indians to take the Entrepreneurial route. Further, as developed economies saturate, emerging markets will be place where the world will do most of their business. In addition to that, Indian government offers many schemes, from tax holidays to loans, to support entrepreneurs. Various government departments also have their own programs that encourage startups. For technology startups, there is a host of options from different government agencies.

For aspiring Entrepreneurs looking for mentorship and networking opportunities in India, here are some useful organizations that you should know:

TiE – The Indus Entrepreneurs

TiE is the world’s largest non-profit organization for entrepreneurs. It started in 1992, by a group of Silicon Valley entrepreneurs, leaders and professionals who hail from the Indus area. It has 61 chapters in 17 countries, with 17 chapters across India. Entrepreneurs linking up with TiE can tap into a network of 2,500+ well-knowledgeable entrepreneurs and business executives. Currently it has 11,000+ aspiring entrepreneurs as members. TiE is estimated to have fostered an economic wealth of more than $200 billion and has also influenced the economic liberalization in Pakistan and India.

Anyone can become a TiE member, with benefits that include access to TiE events, entrepreneurship conferences, active mentor network of successful entrepreneurs and one-on-one mentoring opportunities. One can also pitch ideas with serial entrepreneurs & investors, volunteer at TiE events and showcase business plans at various forums.

CIIE India

IIM-A started its Centre for Innovation, Incubation and Entrepreneurship (CIIE) in 2001, aided by the government of Gujarat. It is comprised of the faculty, alumni and students, along with mentors and industry experts. CIIE is committed in helping aspiring entrepreneurs succeed commercially.’ It offers aspiring entrepreneurs with a host of facilities including Mentor Edge – the nationwide mentorship program; The Power of Ideas – A partnership between the Indian government and Times of India to find the best ideas and start-ups successes; iAccelerator – IT startup program; and INFUSE – Indian Fund for Sustainability.  This incubation center has helped more than 30 startups succeed; among them are Biosense, Awaaz.De and Aspiration Energy.

Incubation Centers at IIMS

IIM-B first started its incubation center, the NS Raghavan Center for Entrepreneurship and Learning (NSRCEL) in 2002. Other noted IIM incubation centers are Center for Innovation & Entrepreneurship at IIM Kolkata, Abhiyan at IIM Lucknow and E-Cell at IIM Kozhikode. Rest of the IIMs are already in the process of setting up their own entrepreneurship development centers.

These centers will allow anyone to present a Business plan. If approved, the business is incubated at the concerned IIM. The advantage for entrepreneurs is that they get access to the vast and high profile alumni network, faculty and corporates.

NEN India

The National Entrepreneurship Network began in 2003, co- founded by IIM Ahmedabad, Institute of Bioinformatics and Applied Biotechnology, Bangalore, IIT Bombay, SP Jain Institute of Management & Research, Mumbai and BITS, Pilani, in collaboration with the Wadhwani Foundation. It now has over 70,000 members in 30 cities, and partners 470+ top-level institutes in India. The founding goal was to incubate entrepreneurs for job creation to fuel India’s economic growth.

NEN helps entrepreneurs by education; mentor and expert support; access to funds; and educational material. It has collaborated with universities and academic institutions by following a partnership model that nurtures entrepreneurship in campus. NEN also runs the largest entrepreneurship-awareness campaign - Entrepreneurship Week India. Since 2003, 326 startups have been launched, and 3000 future entrepreneurs have been created.

Entrepreneurship Development Institute of India (EDII)

The Entrepreneurship Development Institute of India runs the oldest Entrepreneurship Development Program in the country. This is an autonomous institute, started in 1983 by four prominent financial institutions, IDBI Bank, IFCI, ICICI Bank and State Bank of India (SBI), on land provided by the Gujarat government. The institute has further built 12 other entrepreneurial development centers in the state. It has also promoted entrepreneurship in a large variety of educational institutions and B-schools across India, by developing courses for entrepreneurs. EDI has also developed UGCs curriculum on entrepreneurship.

EDI runs a couple of 2 year courses for budding entrepreneurs, the only two of its kind in India: Post Graduate Diploma in Management-Business Entrepreneurship (PGDM - BE) and : Post Graduate Diploma in Management-Development Studies (PGDM – DS.) EDI uses business simulation and entrepreneur interaction to nurture entrepreneurs. It also offers Idea Storm – where you can submit ideas to the institute, which will be evaluated and if feasible supported.

2018 MBA Research Guide - Choose your MBA

"I attended three MBA Tours in US and Canada. I could just scratch the surface compared to what the guide has included. Thank you guys for the amazing book"

F1GMAT's Comprehensive MBA Research Guide will teach you how to select MBA programs through a bottom-up approach. 

Articulating your Post-MBA Goals and Career Path is the FIRST step. Which program will give you that hike in Salary, Switch in Career, Change in Location or Job Satisfaction?

We cover them all through our extensive analysis. 

Pages: 500

+ How to Choose the Best MBA Program: Factors to Consider
Define Post-MBA Goals
Pick your Path: Generalize or Specialize
Use Moral Algebra Method 
Use Multi-Attribute Utility Theory
Understand the Top 5 Risks
Measure MBA Career Service Team's Effectiveness
Use Bookending to Calculate MBA Admission Chance
Use Net Present Value to Calculate MBA Return on Investment
Don't Fall for the Mere Exposure Effect
Best Practices to find the truth in MBA Information Session or MBA Tour

Comprehensive MBA Research Guide:
Top MBA Programs by 19 Specializations:
+ General Management
+ Finance
+ Consulting
+ Marketing
+ Strategy
+ Operations Management
+ Supply Chain Management
+ Luxury Management
+ Information Systems
+ Hospitality Management
+ Accounting
+ Energy
+ Non-Profit
+ Wine
+ Sports
+ Sustainability
+ Leadership Development
+ Military &
+ International

+ Top MBA Program Ranking
Top 20 MBA Programs - Tuition Fee (2018)    
Top 31 MBA Programs in United States – Total Cost & Salary (2017)    

Top 60 MBA – GMAT and GPA (Average & Median)
Top 20 European MBA Programs - Tuition Fee, Total Cost & Salary    
Top 20 European MBA Programs (Based on Actual Salary Increase)    
Top 20 European MBA Programs (Short-term return on investment)    
Top 20 Affordable European MBA Programs    
Top 10 MBA in UK – Salary & Fee (2018)  
Top MBA Destinations Based on Happiness Index    
Top MBA Destinations based on Innovation Index    
Top 10 MBA Job Markets based on Cost of living and Purchasing Power    
Top MBA Destination: By Economy    

+Comparisons - Top MBA Programs
Wharton vs. Columbia MBA (2018)  
MIT vs. Stanford MBA   (2017)
Haas vs. Ross MBA    
Kellogg vs Ross MBA    
Booth vs Wharton MBA    
MIT Sloan vs Tuck MBA    
IIMA vs. ISB   

Harvard vs. Stanford MBA (2017)

+ MBA in France (2018)
Top Industries in France   
Top MBA Programs in France  

  Class Profile   
  Post-MBA Salary

Scholarships in France
External Funding 

+ MBA in the UK (2018)
Top Industries in the UK   
Top MBA Programs in the UK

  Class Profile   
  Post-MBA Salary

Scholarships in the UK
External Funding 

New Visa Rules: Post-Brexit

Download F1GMAT's MBA Research Guide (2018)
*Free updates and new Chapters added to your premium account every week

Navigate F1GMAT

F1GMAT Services (MBA Applicants) 

MBA Research

MBA Salary(Latest Salary Data)
MBA Admission Interview Tips



MBA Application Essays

GMAT Tutorials (Free)

GMAT Question Bank

Top MBA Programs

Get F1GMAT's Newsletters (Best in the Industry)
Included in the Newsletter:

  • Ranking Analysis
  • Post-MBA Salary Trends
  • Post-MBA Job Function & Industry Analysis
  • Post-MBA City Review
  • MBA Application Essay Tips
  • School Specific Essay Tips
  • GMAT Preparation Tips
  • MBA Admission Interview Tips
  • School Specific Interview Tips
  • Funding Guidance and
  • Special Consultation Service (only for Subscribers)

Subscribe to F1GMAT's Newsletter