An entrepreneur is an individual who creates a new business, bearing most of the risks and enjoying most

of the rewards. The process of setting up a business is known as entrepreneurship.

 A person who undertakes the risk of starting a new business venture is called an entrepreneur.
 An entrepreneur creates a firm to realize their idea, known as entrepreneurship, which aggregates
capital and labor in order to produce goods or services for profit.
 Entrepreneurship is highly risky but also can be highly rewarding, as it serves to generate economic
wealth, growth, and innovation.
 Ensuring funding is key for entrepreneurs: Financing resources include Small Business
Administration loans and crowdfunding.
 The way entrepreneurs file and pay taxes will depend on how the business is set up in terms of
structure.

Entrepreneur and Manager

The term ‘entrepreneur’ is often contrasted with the term ‘manager’, as they are the key persons in an
enterprise that help in the organisation, management, control and administration of the company.
An entrepreneur is a person with an idea, skills, and courage to take any risk to pursue that idea, to turn
it into reality. On the other hand, manager, as the name suggests, is the person who manages the
operations and functions of the organisation.

The main difference between entrepreneur and manager lies in their standing, i.e. while an entrepreneur
is the owner of the organization and so he is the one who bears all the risks and uncertainities in the
business, the manager is an employee of the company.

Comparison Chart

BASIS FOR
ENTREPRENEUR MANAGER
COMPARISON
Meaning Entrepreneur refers to a person who Manager is an individual who takes
creates an enterprise, by taking financial the responsibility of controlling and
risk in order to get profit. administering the organization.
Focus Business startup Ongoing operations
Primary motivation Achievement Power
Approach to task Informal Formal
Status Owner Employee
Reward Profit Salary
Decision making Intuitive Calculative
Driving force Creativity and Innovation Preserving status quo
Risk orientation Risk taker Risk averse
 Classification of Entrepreneurs
An entrepreneur is the starting point in any business. He is known to be the one who is the most valuable
asset or valuable human resource for a business. The skills of an entrepreneur are the one which is used to
make a business reach new heights and grow in every possible way. An entrepreneur is the one who is held
responsible for any loss or appreciated for any profit in the business.

An entrepreneur is someone who owns, operates, and assumes the risk in any business venture.
An entrepreneur is the one who can identify the risks in a business and helps in finding out the possible
solutions for it. An entrepreneur is a foremost asset to a business who finds out the most profitable solution
for a big problem.

The overall economic growth of the economy depends on the nature of the entrepreneur. An entrepreneur
should be intelligent, attentive, a good listener, innovative, skillful enough to help the economy grow
healthily.

The business environment gets underdeveloped if the business owner is shy or introverted as it restricts
business growth. Entrepreneurs should be skillful and able to solve the problems of business healthily.

The entrepreneur can be classified into different categories:

Let’s discuss them one-by-one:

1. Innovating Entrepreneurs

Innovative entrepreneurs are those businessmen who are slightly aggressive. They are more particular about
their work and are more focused on getting the work done on time and in the perfect sense.

Moreover, these entrepreneurs are capable of developing new and fine versions of the already existing
technologies.

2. Imitating Entrepreneurs

Imitating Entrepreneurs are those business persons who only imitate or adopt the changes done into the
technology by the existing business persons. They neither innovate their technology nor make innovations in
the existing ones; they only adopt the technology and implement it in their business.

3. Fabian Entrepreneurs

Fabian entrepreneurs are those entrepreneurs who are neither interested in implementing new technologies
nor are ready to leave the old technologies. They are lethargic and are not interested in taking risks in
business. They just want to keep their business moving in the same momentum in which it is moving for
years.

Well, such an attitude leads to less or no growth in business activities. The other name of the business is
growing, for which efforts should continuously be made.

4. Drone Entrepreneurs

Drone entrepreneurs are those entrepreneurs who are least interested in imitating new technologies and also
are not interested in giving up on the traditional technology on which they are working on huge losses. Such
entrepreneurs keep on working on the traditional technology even after bearing a huge number of losses.
These entrepreneurs are responsible themselves because they keep on sticking to the old technology instead
of opting for new ones.
 Outdated technologies would give you nothing but unbearable losses to your business. Hence, it is highly
recommended to shift from old technology to new technology so that your business grows and you earn
unimaginable profits.

5. Technical Entrepreneur

The other name of a technology entrepreneur is Technocrat. A technical entrepreneur is one who has the
technical knowledge and makes use of it to make the business grow and reach new heights. A technical
engineer analyzes various prospects and implements new technology for the business. He concentrates more
on the production activities.

6. Non-Technical Entrepreneur

As the technical entrepreneur concentrates more on the production activities, a non-technical entrepreneur
concentrates mainly on the marketing activities. He is the one who tries to find out innovations and make
efforts to come up with new strategies for marketing the goods and services.

7. Pure Entrepreneur

Some psychological and economic factors make an entrepreneur motivated towards achieving huge goals or
objectives. The urge to make money, the thirst to succeed, risk-taking abilities, the desire to get recognized
are some of the key factors which motivate a person to be a pure entrepreneur.

8. Induced Entrepreneur

An induced entrepreneur is the one who gets the assistance of the government to perform various tasks. The
assistance provides by the government sector, and the various types of subsidies provided are the reason
behind the success of induced entrepreneurs.

The induced entrepreneur can consult the government officials before the commencement of any crucial
business proposal.

9. Motivated Entrepreneur

A motivated entrepreneur is one who has a high degree of motivation within himself. He is highly motivated
to complete the assigned tasks on time. Seeing him, the other teammates are also self-motivated and develop
an urge to complete the given tasks on time.

A motivated entrepreneur is an asset for the business because he is the one who spreads positive vibes in the
company. He motivates those who have a lethargic attitude towards the work or are demotivated completely.

Such people are an asset to the company.

10. Spontaneous Entrepreneur

Spontaneous entrepreneurs are the one who has a lot of talent within themselves. They have pure and natural
talent because of which they are fit for this job. They have a high degree of self-confidence, which gives a
boost to their personality and makes them fit for this job.

 How to Become an Entrepreneur

 After retiring her professional dancing shoes, Judi Sheppard Missett became an entrepreneur by
teaching a dance class in order to earn some extra cash. But she soon learned that women who came
to her studio were less interested in learning precise steps than they were in losing weight and
toning up. Sheppard Missett then trained instructors to teach her routines to the masses, and
 Jazzercise was born. Soon, a franchise deal followed and today, the company has more than 8,300
locations worldwide.3
 Following an ice cream–making correspondence course, two entrepreneurs, Jerry Greenfield and
Ben Cohen, paired $8,000 in savings with a $4,000 loan, leased a Burlington, Vt., gas station, and
purchased equipment to create uniquely flavored ice cream for the local market.4 Today, Ben &
Jerry’s hauls in millions in annual revenue.
 In the 21st century, the example of Internet giants like Alphabet, the parent company to Google
(GOOG), and Meta (META; formerly Facebook), both of which have made their founders wildly
wealthy, have been clear examples of the lasting impact of entrepreneurs on society.

Growth of Entrepreneurship in India

The data shows that 75.5% of the population perceives that there is a good opportunity to start a business in
their area. Of the 49 participating economies, India has ranked seventh for perceived opportunities.
•• 78% of youth perceived that they had confidence in one’s ability to start a business. Out of the 51
economies that participated, India ranked fifth for perceived capability.
•• About 54% of youth have reported that they are not able to start a business due to the finding of fear of
failure. India ranks fifth among GEM-participating economies. The data highlights that there is a fear of
failure among youth to choose and to be entrepreneurs.
•• Entrepreneurial intention is a very important part of the survey and highlights the possibility of people
getting into business. The level of intentions among the population keeps changing, and compared to last
year’s survey, a persistent change has been observed. Entrepreneurial intentions are 20.1% for this year, and
India’s ranking is 20th among all 49 participating economies.
•• However, about 78% of surveyed youth believe that starting a business is easy in India. The data has
greatly improved, making it easy to start a business in India. Out of the 49 economies that participated, India
ranked sixth for this parameter. It shows the ease of doing business in India.
•• The rate of total early-stage entrepreneurship (TEA) in India is 11.5% in 2022–23, and India now ranks
24th among 49 economies surveyed. Total early-stage entrepreneurial activity indicates the growth of
entrepreneurship development in the country.
•• Among female adults, 11.4% of the total female population is engaged in entrepreneurship in India, and
11.6% of the male population is engaged in the same.
•• The discussion of established business ownership is important, and 9% of the population is engaged in an
established business.
•• The motivation data for entrepreneurship is now more refined and very relevant to the entrepreneurship
development in the country. People are mainly motivated to start a business for four different reasons.
 80.7% of the people in India want to start a business to make a difference in the world. Another
important category is earning a living because jobs are scarce, and data shows that 87.3% of the
population is motivated by this factor.
•• Among the country’s youth, 76.8% are motivated because they want to continue their family tradition, and
74.7% of youths have reported that they are motivated by building great wealth.

The National Expert Survey (NES) is the second essential survey conducted by GEM every year, and this
year, it was conducted in 51 economies. The results are summed up in a newly formed National
Entrepreneurship Context Index (NECI). NECI identifies the capacity of the ecosystem of a particular
country for the enhancement of entrepreneurship in the country.
•• The NES in India is based on 72 individual experts from the fields of entrepreneurship, start-ups, and
academics. Experts from various fields, directly or indirectly involved with the entrepreneurship domain,
suggest new things to improve the conditions of the entrepreneurship framework. The experts feel that the
following fostering factors are facilitators for the growth of entrepreneurship and development in India.
•• Among the NES experts, 27% reported that government programmes and R&D transfers are some of the
most promising factors for the strengthening of the country’s entrepreneurship ecosystem. Experts also
considered cultural and social norms as other factors fostering entrepreneurship in the country.

Government’s policy actions towards entrepreneurial motivation

 Funding: Governments can provide access to funding for entrepreneurs. For example, the Credit Linked
Capital Subsidy Scheme (CLCSS) offers a 15% capital subsidy to small and medium-sized industries (SSI
units) for loans up to Rs. 1 crore.
 Training: Governments can provide training to support entrepreneurs.
 Support networks: Governments can establish support networks for entrepreneurs.
 Incentives: Governments can create incentives for new business owners.
 Regulatory reforms: Governments can implement regulatory reforms to support entrepreneurs.
 Legal framework: Governments can create a supportive legal framework for entrepreneurs.
 Reducing bureaucracy: Governments can reduce bureaucratic red tape to support entrepreneurs.

EDP INSTITUTIONS IN INDIA AND THEIR FUNCTIONS & INSTITUTIONAL SUPPORT TO

ENTREPRENEURS:
Governments-both Central and State, have in the past taken a number of measures for the development of
small and medium enterprises. Government has set up a number of development institutions to support
entrepreneurs. Some of the institutions assisting entrepreneurs include District Industries Centres (DICs) and
Industrial Estate, Small Industries Development Organisation (SIDO), Small Industries Service Institutes
(SISI), Small Industry Development Corporation (SIDCO), Entrepreneurial Guidance Bureau (EGB),
National Alliance of Young Entrepreneurs (NAYE), National Productivity Council (NPC) and Venture
capital funds (VCF). In addition, all India financial institutions-IDBI, IFCI, ICICI-have promoted/sponsored
a number of Technical Consultancy Organisations (TCOs) to assist small entrepreneurs in different ways.
Recently, the Small Industries Development Bank of India (SIDBI) has been established to help small scale
units. Besides, agencies like Khadi and Village Industries Commission, Commercial Banks, Cooperative
Banks, EXIM Bank and National Science and Technology Entrepreneurship Board undertake promotional
activities aiming at support in entrepreneurship development. Now, what follows in the subsequent pages is
the various kinds of support provided by aforesaid institutions to the entrepreneurs to help them establish
industries.
Small Scale Industries Board (SSIB)
The Government of India constituted a Board, namely, Small Scale Industries Board (SSIB) in 1954 to
advise on the development of small scale industries in the country. The SSIB is also known as Central Small
Industries Board. The range of developmental work in small scale industries involves several
departments/ministries and several organs of the Central/State Governments.
Hence, to facilitate co-ordination and inter-institutional1inkages, the Small Scale Industries Board has been
constituted. If is an apex advisory body constituted to render advice to the Government on all issues
pertaining to the development of small-scale industries. The Industries Minister of the Government of India
is the Chairman of the SSIB. The SSIB comprises of 50 members including State Industry Minister, some
Members of Parliament, Secretaries of various Departments of Government of India, financial institutions,
public sector undertakings, industry associations and eminent experts in the field.
State Small Industries Corporations
Many State Governments have set up Small Industries Corporations in order to undertake a number of
commercial activities. The most important of these activities are distribution of scarce raw materials, supply
of machinery on hire purchase basis, constitution and management of industrial estates, procurement of
orders from Government Departments, assistance in export marketing and in certain cases provision of
financial, technical and managerial assistance to small enterprises.

Small Industries Development Corporation (SIDCO)

In Tamilnadu SIDCO is the state small industries corporation. It plays a lead role in developing small scale
sector. It provides the following facilities to small scale units :
(a) It makes provision of constructed sheds/plots in industrial estates. These are sold to entrepreneurs on
hire-purchase basis or given on rental basis.
(b) Assistance in procuring some scarce key raw materials like iron and steel, paraffin wax, potassium
chlorate, Fatty Acids, etc., through its various distribution centres.
(c) Financial assistance in the form of subsidies to industrial units in backward areas like Central Investment
subsidy, state capital subsidy. Interest-Free sales tax loans, power tariff subsidy and margin money
assistance for the rehabilitation of the sick small scale industries.
(d) Marketing assistance to small entrepreneurs.
Small Industries Service Institutes (SISIs)
The Small Industries Services Institutes (SISIs) are set up to provide consultancy and training to small
entrepreneurs-both existing and prospective. The activities of SISIs are coordinated by the Industrial
Management Training division of the DCSSI’s office. There are 28 SISIs and 30 branch SISIs set up in State
capital and other places all over the country.
The main functions of SISIs include :
• To serve as interface between Central and State Governments.
• To render technical support services.
• To conduct Entrepreneurship Development Programmes.
• To initiate promotional programmes.
The SISIs also render assistance in the following areas :
(i) Economic Consultancy/Information/EDP Consultancy.
(ii) Trade and market information.
(iii) Project profiles.
(iv) State industrial potential survey.
(v) District industrial potential survays.
(vi) Modernisation and inplant studies.
(vii) Workshop facilities.
(viii) Training in various trade/activities.
District Industries Centres (DICs)
The District Industries Centres (DICs) were established in May 1978 with a view to provide integrated
administrative framework at the district level for promotion of small-scare industries in rural areas. The
DICs are envisaged as a single window interacting agency with the entrepreneur at the district level.
Services and support to small entrepreneurs are provided under a single roof through the DICs. They are the
implementing arm, of the Central and State Governments for various schemes and programmes. Registration
of small industries is done at the district industries centres. The organisational structure of DICs consists of
General Manager, four Functional Managers and three Project Managers to provide technical service in the
area relevant to the needs of district concerned. Management of the DIC’s is done by the State Governments.
The scheme has now been transferred to the states and from the year 1993-94, funds will not be provided by
the Central Government to the States for running the DICs.
Functions : The DICs role is mainly promotional and developmental. To attain this, they have to perform
the following main functions :
• To conduct industrial potential surveys keeping in view the availability of resources in terms of material
and human skill, infrastructure, demand for product, etc. To prepare techno-economic surveys and identify
product lines and then to provide investment advice to entrepreneurs.
• To prepare an action plan to effectively implement the schemes identified.
• To guide entrepreneurs in matters relating to selecting the most appropriate machinery and equipment,
sources of its supply and procedure for procuring imported machinery, if needed, assessing requirements for
raw materials etc.
• To appraise the worthiness of the various proposals received from entrepreneurs.
• To assist the entrepreneurs in marketing their products and assess the possibilities of ancillarisation and
export promotion of their products.
• To undertake product development work appropriate to small industries.
• To conduct artisan training programmes.
• To function as the technical arms of DRDA in administering IRD and TRYSEM programmes.
National Small Industries Corporation Ltd. (NSIC)
The National Small Industries Corporation Ltd. (NSIC), an enterprise under the Union Ministry of
Industries, was set up in 1955 to promote, and foster the growth of small scale industries in the country.
NSIC provides a wide range of services, predominantly promotional in character to small scale industries.
Its main functions are:
• To provide machinery on hire-purchase scheme to small scale industries.
• To provide equipment leasing facility.
• To help in export marketing of the products of small scale industries.
• To develop proto-type of machines and equipments to pass on to small scale industries for commercial
production.
• To distribute basic raw material among small scale industries through raw material depots.
• To help in the development and upgradation of technology and implementation of modernisation
programmes of small scale industries.
• To impart training in various industrial trades.
• To undertake the construction of industrial estates.
Small Industries Development Organisation (SIDO)
Small Industries Development Organisation (SIDO) is a subordinate office of the Department of SSI & ARI.
It is an apex body and nodal agency for formulating, coordinating and monitoring the policies and
programmes for promotion and development of small-scale industries. Development Commissioner is the
head of the SIDO. He is assisted by various directors and advisers in evolving and implementing various
programmes of training and management consultancy, industrial investigation, possibilities for development
of different types of Small scale industries, development of industrial estates, etc. The main functions of
SIDO are classified into (i) co-ordination, (ii) industrial development and (iii) extension. These functions are
performed through a national network of institutions and associated agencies. All small-scale industries
except those falling within the specialised boards and agencies like KVIC, Coir Boards, Central Silk Board,
etc. fall under the purview of the SIDO.
Following are the main tasks performed by the SIDO in each of its three categories of functions.
Functions Relating to Co-ordination
• To evolve a national policy for the development of small scale industries,
• To co-ordinate the policies and programmes of various State Governments,
• To maintain a proper liasion with the related Central Ministries, Planning commission, State Governments,
Financial Institutions, etc.,
To co-ordinate the programmes for the development of industrial estates.
Functions Relating to Industrial Development
• To reserve items for production by small-scale industries,
• To collect data on consumer items imported and then, encourage the setting of industrial units to produce
these items by giving coordinated assistance,
To render required support for the development of ancillary units, and
• To encourage small scale industries to actively participate in Government Stores Purchase Programme by
giving them necessary guidance, market advice and assistance.
Functions Relating to Extension
• To make provision of technical services for improving technical process, production planning, selecting
appropriate machinery, preparing factory layout and design.
• To provide consultancy and training services to strengthen the competitive ability of small-scale industries.
• To render marketing assistance to small-scale industries to effectively sell their products, and
• To provide assistance in economic investigation and information to small scale industries.

Entrepreneurial Guidance Bureau (EGB)

The EGB has, been set up to guide entrepreneurs in identifying investment opportunities, assisting them in
selecting locations or the projects, preparing project profiles, assisting them to get financial assistance. EGB
has been supplying information pertaining to the products that offer scope for manufacture, statistical details
relating to demand, capacity production, sources of raw materials, types of equipments required, investment
involved, sources of finance, etc. Information of procedures pertaining to obtaining letters of intent, import
of capital equipment, export of finished products is also furnished. EGB also renders assistance from
banks/financial institutions or for submitting proposals for the letter of intent, etc. EGB also establishes
direct contact with engineering graduates, technically qualified personnel and small entrepreneurs to
promote entrepreneurship development. To render required support for the development of ancillary units,
and
• To encourage small scale industries to actively participate in Government Stores Purchase Programme by
giving them necessary guidance, market advice and assistance.
Functions Relating to Extension
• To make provision of technical services for improving technical process, production planning, selecting
appropriate machinery, preparing factory layout and design.
• To provide consultancy and training services to strengthen the competitive ability of small-scale industries.
• To render marketing assistance to small-scale industries to effectively sell their products, and
• To provide assistance in economic investigation and information to small scale industries.
Entrepreneurial Guidance Bureau (EGB)
The EGB has, been set up to guide entrepreneurs in identifying investment opportunities, assisting them in
selecting locations or the projects, preparing project profiles, assisting them to get financial assistance. EGB
has been supplying information pertaining to the products that offer scope for manufacture, statistical details
relating to demand, capacity production, sources of raw materials, types of equipments required, investment
involved,sources of finance, etc. Information of procedures pertaining to obtaining letters of intent, import of
capital equipment, export of finished products is also furnished. EGB also renders assistance from
banks/financial institutions or for submitting proposals for the letter of intent, etc. EGB also establishes
direct contact with engineering graduates, technically qualified personnel and small entrepreneurs to
promote entrepreneurship development.
Khadi And Village Industries Commission (KVlC)
KVIC was set up in 1953. The primary objective of establishing KVIC is to develop Khadi and Village
industries and improving rural employment opportunities. Its wide range of activities include training of
artisans, extension of assistance for procurement of raw materials, marketing of finished products and
arrangement for manufacturing and/ distribution of improved tools, equipment and machinery to producers
on concessional terms. KVIC provides assistance to Khadi and Village industries which are characterized by
low capital intensity and ideally suited to manufacturing utility goods by using locally available resources.
There are about 26 specified-village industries such as processing of cereals and pulses, leather, cottage
matches, gur and khandsari, palm gur, non-edible oils and soaps, village pottery, carpentry, gobar gas,
household aluminium utensils, etc. KVIC’s policies and programmes are executed through 30 State Khadi
and Village Industries Boards, 2320 institutions registered under the Societies Registration Act, 1960 and
about 30,600 Industrial Cooperative Societies registered under State Cooperative Societies Act. Activities
involving pioneering types of work, such as developing new industries in hilly, backward and inaccessible
areas are undertaken by KVIC directly.
National Institute of Entrepreneurship and Small Business Development (NISEBUD), New Delhi
It is an apex national level institute of its kind set up at New Delhi in 1983. Its main functions are to
coordinate research and training in entrepreneurship development and to impart specialised training to
various categories of entrepreneurs. Besides, it also serves as a forum for interaction and exchange of views
between various agencies engaged in activities relating to entrepreneurial development

National Institute of Small Industries Extension Training (NISIET), Hyderabad

This institute was set up in 1956 to develop the required manpower for running small-scale industries in the
country. Accordingly, its main functions are:
(a) To impart training to the persons engaged in small-scale industries.
(b) To undertake research studies relating to development of small-scale industries.
(c) To enter into agreements relating to consultancy services both with national and international
organisations to provide consultancy services to small industries in the country. The institute conducts
courses in business management for the benefit of the entrepreneurs and semi-managerial personnel of small
industries. It is located at Hyderabad.
Other Institutes Supporting Entrepreneurs
Following are some of the important institutes set up by the Government for development of small-scale
industries :
(a) Electronic Training and Service Institute, Nainital.
(b) Central Machine Tools Limited, Bangalore.
(c) Sports Goods and Leisure Time Equipment, Meerut.
(d) Central Institute of Plastics Engineering and Tools, Madras.
(e) National Institute of Foundry and Forging Technology, Ranchi.
Technical Consultancy Organisations (TCOs)
A network of Technical Consultancy Organisations (TCOs) was established by the all India financial
institutions in the seventies and the eighties in collaboration with state level financial/development
institutions and commercial banks to cater to the consultancy needs of small industries and new
entrepreneurs. At present, there are 17 TCOs operating in various states, some of them covering more than
one state. These 17 TCOs are:
1. Andhra Pradesh Industrial and Technical Consultancy Organisation Ltd. (APITCO).
2. Bihar Industrial and Technical Consultancy Organisation Ltd. (BITCO).
3. Gujarat Industrial and Technical Consultancy Organisation Ltd. (GITCO).
4. Haryana-Delhi Industrial Consultants Ltd. (HARDICON). 5. Himachal Consultancy Organisation Ltd.
(HIMCO).
6. Industrial and Technical Consultancy Organisation of Tamil Nadu Ltd.(ITCOT).
7. Jammu and Kashmir Industrial and Technical Consultancy Organisation Ltd. (J&KITCO).
8. Karnataka Industrial and Technical Consultancy Organisation Ltd. (KITCO).
9. Madhya Pradesh Consultancy Organisation Ltd. (MPCON).
10. Mahrashra Industrial and Technical Consultancy Organisation. Ltd. (MITCON).
11. North-Eastern Industrial Consultants Ltd. (NECON).
12. North-Eastern Industrial and Technical Consultancy Organisation Ltd. (NEITCO).
13. North-India Technical Consultancy Organisation Ltd. (NITCON).
14. Orissa Industrial and Technical Consultancy Organisation Ltd. (ORITCON).
15. Rajasthan Consultancy Organisation Ltd. (RAJCON).
16. U.P. Industrial Consultants Ltd. (UPICO).
17. West Bengal Consultancy Organisation Ltd. (WEBCON).
Functions
Initially, TCOs’ functions were focused on pre-investment studies for small and medium scale enterprises.
Over the years, they have diversified their functions to include the following:
• To prepare project profiles and feasibility profiles.
• To undertake industrial potential surveys.
• To identify potential entrepreneurs and provide them with technical and management assistance.
• To undertake market research and surveys for specific products.
• To supervise the project and where necessary, render technical and administrative assistance.
• To undertake export consultancy for export-oriented projects based on modern technology.
• To conduct entrepreneurship development programmes.
• To offer merchant banking services.
• A summary view of the progress/performance of TCOs

Commercial banks and Entrepreneurial Development

In recent times commercial banks have not confined themselves to mere extension of finance to small
entrepreneurs but have shown genuine concern for their progress and development. They have now entered
the challenging field of promoting new small scale entrepreneurs through entrepreneurship development
programmes. In their new role as promoters of small scale sector they have accepted yet another challenging
task. They are now holding EDPs in collaboration with specialized institutions such as DIC, SISI, TCOs,
etc. with a view to identifying entrepreneurs, especially in backward areas, and training and monitoring them
to start new ventures.

Institutional Support towards Entrepreneurship Development in India

Institutional support for entrepreneurial development in India includes:

Government Initiatives:

1. Ministry of Micro, Small and Medium Enterprises (MSME)

2. Startup India Initiative
3. Make in India Initiative
4. Atal Innovation Mission (AIM)
5. National Skill Development Mission (NSDM)
6. Entrepreneurship Development Programmes (EDPs)
7. Small Industries Development Bank of India (SIDBI)
8. National Small Industries Corporation (NSIC)

Financial Institutions:

1. Small Industries Development Bank of India (SIDBI)

2. National Bank for Agriculture and Rural Development (NABARD)
3. Indian Bank's MSME Department
4. State Bank of India's SME Department
5. Venture Capital Funds (VCFs)
6. Private Equity Firms
7. Angel Investors

Academic Institutions:

1. Indian Institutes of Technology (IITs)

2. Indian Institutes of Management (IIMs)
3. National Institutes of Technology (NITs)
4. Entrepreneurship Cells (E-Cells)
5. Business Incubators
6. Technology Business Incubators (TBIs)

Non-Governmental Organizations (NGOs):

1. National Entrepreneurship Network (NEN)

2. Indian Entrepreneurship Forum (IEF)
3. TiE (The Indus Entrepreneurs)
4. Entrepreneur's Organization (EO)
5. Young Presidents' Organization (YPO)

Incubators and Accelerators:

1. Indian Angel Network (IAN) Incubator

2. Startup Oasis
3. Villgro Innovations Foundation
4. CIIE (Centre for Innovation, Incubation and Entrepreneurship)
5. T-Hub

Tax Benefits and Schemes:

1. Income Tax exemption for startups

2. GST exemption for small businesses
3. Patent registration benefits
4. MSME Registration benefits
5. Export Promotion Capital Goods (EPCG) Scheme

Other Initiatives:

1. Digital India Initiative

2. Skill India Initiative
3. Innovation Hubs
4. Technology Parks
5. Industry-Academia Partnerships

These institutions provide various forms of support, including: