UNIT III

1. Entrepreneurship Development
Programmes (EDP):
Entrepreneurship is vital for economic development, job creation, and
innovation. To foster entrepreneurial talent, especially among youth and
marginalized groups, Entrepreneurship Development Programmes (EDPs) have
emerged as a key initiative across countries.

Definition of EDPs
Entrepreneurship Development Programmes (EDPs) are structured training
interventions aimed at developing entrepreneurial abilities among individuals.
These programs help participants understand business dynamics and equip them
with the necessary skills to start and manage their ventures.

UNIDO defines EDPs as “a programme designed to help a person in

strengthening his/her entrepreneurial motive and in acquiring skills and
capabilities necessary for playing his/her entrepreneurial role effectively.”

Objectives of EDPs
• To develop entrepreneurial traits and motivation
• To provide knowledge on business operations
• To train in feasibility analysis, project report preparation, and legal
compliance
• To promote self-employment and small business creation
• To support first-generation entrepreneurs

EDPs are essential for:

 • Enhancing entrepreneurial motivation
• Reducing unemployment
• Fostering innovation
• Ensuring regional economic balance
Example: The "Start-up India" initiative by the Government of India.
Startup India is a flagship initiative of the Government of India, launched on
January 16, 2016, by Prime Minister Narendra Modi. The mission is to build a
strong ecosystem for nurturing innovation and startups, driving sustainable
economic growth and generating employment opportunities.

It is part of the broader agenda to transform India into a nation of job creators
rather than job seekers, and functions as a national-level Entrepreneurship
Development Programme (EDP) by offering training, policy support, funding
access, and market linkages.

Objectives of Startup India

• To promote entrepreneurship and innovation
• To support startups through policy and regulatory reforms
• To facilitate funding and investment opportunities
• To build a network of incubators, accelerators, and mentors
• To foster economic growth and job creation

Key Features of Startup India

a. Startup Recognition by DPIIT

• Startups are officially recognized by the Department for Promotion
of Industry and Internal Trade (DPIIT)
• Criteria: Less than 10 years old, turnover less than ₹100 crore,
working towards innovation or improvement of products/services
b. Startup India Learning and Development
• Free online entrepreneurship courses developed by experts and IIM
faculty
• Modules on idea validation, legal basics, fundraising, business
modelling, etc.

c. Financial Incentives
• Income Tax Exemption for 3 consecutive years
• Capital gains exemption under Section 54EE
• Fund of Funds for Startups (FFS): ₹10,000 crore corpus managed
by SIDBI
• Startup India Seed Fund Scheme (SISFS): ₹945 crore to provide
seed funding for PoC and MVP stages

d. Simplified Compliance
• Self-certification for labour and environmental laws
• Faster exit (winding up within 90 days)
• Startup India Hub as a single-point contact for queries and
assistance

e. IPR Benefits
• 80% rebate in patent filing fees
• Fast-track examination of patents
• Panel of facilitators for IPR filing support

f. Incubation and Infrastructure Support

• Establishment of Atal Incubation Centres (AICs) under Atal
Innovation Mission
• Startup Hubs across states
 • Support for biotech and agritech incubators

g. Support for Women and Social Entrepreneurs

• Dedicated programs such as the Women Startup Programme
(NSRCEL-IIMB)
• Encouragement for entrepreneurs in rural and semi-urban areas

Startup India stands as a model entrepreneurship development programme,

fostering innovation, creating employment, and enhancing India’s global
competitiveness. While the scheme has made remarkable strides, continued
efforts in mentorship, financial access, and infrastructure are essential for
ensuring inclusive and sustainable entrepreneurial growth.

2. Role of Government in Organising

EDPs
Entrepreneurship Development Programs (EDPs) are initiatives designed to help
individuals develop the necessary skills and knowledge to start and manage their businesses
successfully. The government plays a crucial role in organizing and supporting these
programs to promote entrepreneurship, create jobs, and boost economic growth.

Government’s Role in Organizing EDPs

1. Policy Development and Implementation

Governments create policies that support entrepreneurship development, including startup

policies, industrial policies, and MSME (Micro, Small, and Medium Enterprises) policies.
These policies provide guidelines for EDPs and ensure a favorable business environment.

 Example: The "Start-up India" initiative by the Government of India provides various
policy incentives, including tax benefits, easier compliance, and financial support for
startups. Startup India is a flagship initiative launched by the Government of India on
January 16, 2016, to promote entrepreneurship, innovation, and economic growth. The
initiative aims to create a supportive ecosystem for startups, making it easier to start and
grow businesses in India.
 Objectives of Startup India

 Encourage entrepreneurship and job creation.

 Simplify regulatory processes for startups.
 Provide funding, mentorship, and networking opportunities.
 Promote innovation and boost India's startup ecosystem.

2. Financial Support and Assistance / Funding and Financial Assistance

Governments allocate funds to organize EDPs and provide financial assistance to aspiring
entrepreneurs in the form of grants, loans, and subsidies.

Example: The Pradhan Mantri Mudra Yojana (PMMY) in India offers micro-financing to
small entrepreneurs to start or expand their businesses. Pradhan Mantri Mudra Yojana
(PMMY) is a government initiative launched on April 8, 2015, to provide financial support
to micro and small enterprises (MSEs) in India. It aims to empower non-corporate, non-farm
small/micro businesses by offering collateral-free loans through banks, NBFCs, and
microfinance institutions.

Objectives of PMMY

 Promote self-employment and entrepreneurship.

 Provide financial support to small businesses.
 Encourage job creation through micro-enterprises.
 Formalize the unorganized sector by offering institutional credit.

3. Entrepreneurship Development Institutes (EDIs)

Governments establish institutions dedicated to entrepreneurship training and skill

development. These institutes conduct EDPs, workshops, and research.

 Example: The National Institute for Entrepreneurship and Small Business

Development (NIESBUD) in India provides training and resources for entrepreneurs.
The National Institute for Entrepreneurship and Small Business Development
(NIESBUD) is an apex organization under the Ministry of Skill Development and
Entrepreneurship (MSDE), Government of India. Established in 1983, it focuses on
promoting entrepreneurship and small business development through training, research, and
policy support.

Objectives of NIESBUD

 Develop and promote entrepreneurship culture in India.

 Provide training and skill development for aspiring entrepreneurs.
 Support Micro, Small, and Medium Enterprises (MSMEs).
 Conduct research and policy advocacy on entrepreneurship.
 Facilitate international collaborations for business development.
4. Skill Enhancement and Training Initiatives

Government-led EDPs focus on enhancing technical, managerial, and financial skills through
structured training programs.

 Example: The Skill India Mission aims to equip youth with skills in various sectors,
including entrepreneurship. The Skill India Mission is a flagship initiative launched by the
Government of India on July 15, 2015, to empower youth with employable skills and bridge
the skill gap in various industries. It aims to make India a global hub for a skilled workforce
by providing vocational training, upskilling programs, and industry-relevant education.

Objectives of Skill India Mission

 Provide market-relevant skills to youth.

 Enhance employability and entrepreneurship.
 Bridge the demand-supply gap in the workforce.
 Promote industry partnerships and apprenticeships.
 Focus on digital literacy and future skills.

5. Incubation Centers and Startup Support

Incubation centers are specialized organizations or spaces designed to support and nurture
entrepreneurs and early-stage businesses, providing resources, mentorship, and a supportive
environment to accelerate their growth and development. The government collaborates with
educational institutions and private organizations to establish incubation centers that support
startups with mentorship, infrastructure, and networking opportunities.

Example: Atal Incubation Centers (AICs) under the Atal Innovation Mission (AIM)
provide startups with mentorship, funding, and networking opportunities. AICs aim to create
a robust startup ecosystem and promote innovation across various sectors.

Objectives of Atal Incubation Centers

 Provide world-class incubation support to startups.

 Foster innovation and entrepreneurship in India.
 Encourage sector-specific research and development.
 Facilitate networking with industry experts, mentors, and investors.
 Promote the "Make in India" initiative by supporting indigenous startups.

6. Market Access and Promotion

Governments help entrepreneurs access markets by organizing trade fairs, exhibitions, and
buyer-seller meets.
  Example: MSME Global Mart is an e-commerce platform supported by the Indian
government that connects small businesses with buyers. MSME Global Mart is a B2B
(Business-to-Business) digital marketplace launched by the National Small Industries
Corporation (NSIC), under the Ministry of Micro, Small, and Medium Enterprises
(MSME), Government of India. It is an online platform designed to promote and
connect MSMEs with national and international buyers, suppliers, and service
providers.

Objectives of MSME Global Mart

 Provide MSMEs with a digital platform to showcase their products and services.
 Enable global trade and market access for small businesses.
 Facilitate business networking and collaboration.
 Help MSMEs get access to government tenders and procurement opportunities.


7. Technology Support and Innovation Promotion

Government agencies promote innovation by funding research and development (R&D) and
offering technology transfer assistance.

 Example: Department of Science & Technology (DST), India runs programs like
National Initiative for Developing and Harnessing Innovations (NIDHI) to
support tech-based startups.

8. Women and Minority Entrepreneurship Support

Governments implement special programs to encourage women, SC/ST entrepreneurs, and

other marginalized groups to start businesses.

 Example: Mahila Udyam Nidhi Scheme by the Small Industries Development Bank
of India (SIDBI) provides financial support to women entrepreneurs. The Mahila
Udyam Nidhi Scheme is a financial assistance program launched by the Small Industries
Development Bank of India (SIDBI) to promote women entrepreneurship in India. The
scheme provides loans to women entrepreneurs to set up or expand their businesses,
particularly in the Micro, Small, and Medium Enterprises (MSME) sector.

Objectives of Mahila Udyam Nidhi Scheme

 Encourage women entrepreneurs to start and expand their businesses.

 Provide financial support for small and micro-enterprises.
 Promote self-employment and economic independence among women.
 Support businesses in manufacturing, service, and trade sectors.


9. Legal and Regulatory Assistance

Entrepreneurs often struggle with legal and regulatory frameworks. The government
simplifies business registration, licensing, and compliance procedures.

 Example: Udyam Registration in India allows MSMEs to register online quickly for
easier access to government schemes.

10. Public-Private Partnerships (PPP) in EDPs

The government collaborates with private organizations, NGOs, and educational institutions
to deliver high-quality EDPs.

 Example: TIE (The Indus Entrepreneurs), in partnership with the government,

offers mentorship and investment support to startups.

Entrepreneurship Development Programmes (EDPs) are structured

initiatives aimed at helping individuals develop the skills and knowledge
required to start and manage a business. These programmes are crucial
for promoting self-employment, innovation, and job creation, especially
in developing countries. Entrepreneurship Development Programmes
(EDPs) aim to nurture entrepreneurial skills among individuals,
promoting self-employment and boosting the economy. The government
plays a central role in organising these programmes by providing policy,
infrastructure, and financial backing.

Government’s Role (inshort)

a. Policy Formulation: Governments create national and regional policies that
foster entrepreneurship. This includes simplifying business registration
processes, offering tax benefits, and creating startup-friendly ecosystems.
Example: The Indian government’s Startup India Policy provides tax
exemptions and fast-track patent services to startups.

b. Funding and Financial Assistance: Governments provide direct funding or

facilitate loans and subsidies through banks and financial institutions to aspiring
entrepreneurs.
Example: MUDRA Yojana in India offers micro-finance to small businesses
with low-interest rates.
c. Institutional Support: Governments establish and support institutions that
conduct EDPs, such as entrepreneurship institutes and incubation centers.
Example: National Institute for Entrepreneurship and Small Business
Development (NIESBUD) and Indian Institute of Entrepreneurship (IIE) are
key Indian institutions.

d. Training and Capacity Building: Governments design training modules,

workshops, and mentorship programmes to equip potential entrepreneurs with
technical, managerial, and marketing skills.
Example: Skill India Mission and Pradhan Mantri YUVA Yojana focus on
youth skill development for entrepreneurship.

e. Infrastructure Development: Governments develop industrial clusters, special

economic zones (SEZs), and provide access to technology parks and shared
infrastructure to support startups.
Example: Startup Villages and Technology Business Incubators (TBIs) in India
provide co-working spaces and R&D facilities.

f. Monitoring and Evaluation: Regular evaluation ensures the effectiveness of

EDPs. Governments monitor outcomes, assess impact, and improve programme
design based on feedback.
Example: Annual reports by MSME Ministry track progress and suggest policy
updates.
3. Institutions supporting small business
enterprises: central and state level
(https://www.youtube.com/watch?
v=DNQI8aJaGBs)
Small business enterprises (SBEs), also called Micro, Small, and Medium
Enterprises (MSMEs), are vital for employment generation, regional
development, and economic diversification. Both central and state governments
in India have established various institutions to promote, finance, train, and
assist these enterprises.
Small Scale Business Types
 Manufacturing small scale business
 Service providing small scale business
 Feeder small scale business
 Ancillary small scale business

Institutions Supporting Small Business Enterprises

in India
Small Industries Development Bank of India (SIDBI)
A special act of the Parliament helped introduce this small scale supporting
enterprise to strive in India. The main function of this body is to introduce new
methods to upgrade and modernise existing units.
Its functions are:
 To expand the ways of marketing the products made by small scale
industries in international and domestic markets.
 To promote employment in semi-urban areas to open up ways for higher
employment chances, and thus, keep a check on the migration of people
from villages to towns.
Small Industries Service Institutes (SISI)
The Indian Government developed this institute in 1956 to educate and ensure
that new and useful services reach small scale industries. The Small Industries
Service Industry gives advisory and technical consultancy services to small
scale industries in India.
They also provide various training facilities and management training courses.
They help demonstrate the use of modern technical processes on machines and
newly introduced types of equipment.
State Financial Corporations (SFC)
An act of the Parliament developed the State Financial Corporations in 1951 to
provide small and big loans to the small scale industries and businesses and
other industries. It also gives financial assistance to small scale industries.
They provide various finance-based schemes such as the following:
 Financial schemes for technical companies
 Composite loan schemes
 Schemes for Physically Disabled People.
 Schemes for scheduled tribes and backward classes.
 Schemes for ex-Servicemen.
District Industry Centres {DIC}
Governments, both central and state, have taken several measures to promote
the development of small and village industries. Still, the results have fallen far
short of expectations because the attention for industrial development was
primarily on large cities and state capitals.
The District Industry Centres provide a permanent verification to new growing
entrepreneurs. They offer technical advice to fresh entrepreneurs in the market.
The DIC also registers units permanently. The DIC takes the initiative to get
clearances for projects from various departments.
They also assist the small scale based industries in hiring or purchasing new
types of machinery based on loans, leases, etc.
Small Scale Industries Board (SSIB)
The Government of India sanctioned the Small Scale Industries Board in 1954
to provide advice on the programmes and policies related to the development of
small scale businesses and industries. This body is also called the Central Small
Industries Board {CSIB}.
The main purpose of this body was to make sure the artisan’s villagers working
in small scale industries get some bank credits along with the reduction of
interest percentage in the loan.
Small Industries Development Organisation (SIDO)
The Small Industries Development Organisation (SIDO) is at the top of the
leadership board of small scale industry-related organisations in charge of
making rules, coordinating, and observing small scale industry development.
It has collaborated with the government, various finance-based institutions, and
other organisations that promote and help in the growth of small scale business
units.
It helps to upgrade and renew national policies related to the development of
small scale industries.
The rise of small scale industries and businesses is not under control. Small
scale businesses have shown a drastic rise and growth in the last two years since
the pandemic hit the world.
Three out of every ten people now own one small business, whether that is
making and selling accessories from home to baking cakes and personalising
various clothing items.
One must promote small scale industries and motivate them, so the hard work to
provide us with products grows and does not stop.
The role of small scale industries in the economic development of India in
recent years is being critically analysed. Various factors affecting the growth
and development of small scale industries and the problem faced by this vital
sector of the Indian economy are being examined by experts.

Central-Level Institutions

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

• Apex body for policy formulation and coordination.
• Oversees development programs, subsidies, training, and skill
development.
 • Operates several schemes such as PMEGP, SFURTI, and MSE-
CDP.

b. Small Industries Development Bank of India (SIDBI)

• Principal financial institution for small enterprises.
• Provides loans, equity support, venture capital, and refinance to
banks and NBFCs.
• Promotes credit through MUDRA and other special funds.

c. National Small Industries Corporation (NSIC)

• Promotes and supports MSMEs through:
• Raw material assistance
• Marketing support
• Technology upgradation
• Skill development centers

d. Khadi and Village Industries Commission (KVIC)

• Promotes rural employment and non-farm livelihoods through
khadi, coir, and village industries.
• Implements schemes like PMEGP for rural and traditional
enterprises.

e. National Bank for Agriculture and Rural Development (NABARD)

• Supports agro-based and rural MSMEs.
• Provides refinancing, capacity building, and financial inclusion
initiatives.
• Funds rural development projects via Self-Help Groups (SHGs)
and producer organizations.
f. Coir Board & Handicrafts/Handlooms Boards
• Promote traditional industries and provide:
• Design training
• Export promotion
• Cluster development
• Marketing linkages

State-Level Institutions

a. State Directorate of Industries

• Implements central and state-level MSME policies.
• Provides clearances, infrastructure, and subsidy facilitation.

b. State Financial Corporations (SFCs)

• Provide term loans and working capital assistance to small
industries.
• Facilitate project finance for new and expanding MSMEs.

c. District Industries Centres (DICs)

• Grassroots institutions at district level.
• Offer:
• Entrepreneurship training
• Project report preparation
• Subsidy schemes
• Single-window clearances
d. State Industrial Development Corporations (SIDCs)
• Develop industrial estates, SEZs, and provide infrastructure.
• Offer equity participation, marketing assistance, and export
facilitation.

4. Entrepreneurial opportunities in media,

Importance of networking

The media industry is one of the most dynamic and rapidly evolving sectors in
the world. With the rise of digital platforms, social media, and content
consumption habits, numerous entrepreneurial opportunities have emerged for
individuals with creative, technical, and strategic skills.

Entrepreneurial Opportunities in Media

Entrepreneurs in the media industry can venture into various domains, including
traditional and digital platforms. One of the most prominent areas is digital
content creation, where individuals can build businesses around YouTube
channels, podcasts, blogs, and influencer marketing. These platforms offer
revenue through advertisements, sponsorships, subscriptions, and brand
collaborations.

Another opportunity lies in media production houses, where entrepreneurs

create and distribute content such as films, documentaries, web series, and short
videos. With the expansion of OTT (Over-the-top) platforms like Netflix,
Amazon Prime, and regional streaming services, there is a growing demand for
original content, offering significant scope for creative startups.

Entrepreneurs can also explore media tech solutions, such as digital marketing
agencies, analytics tools for audience measurement, social media management
software, or AI-based content generation. The convergence of media and
technology opens avenues for innovation in storytelling, content delivery, and
audience engagement.

Additionally, niche journalism, e-magazines, and independent news platforms

represent strong opportunities for entrepreneurs with a background in
communication and journalism, especially when focusing on specific subjects
such as business, education, health, or regional news.
Examples: Entrepreneurs across the world have leveraged the evolving media
landscape to build successful ventures.
• Ajey Nagar (CarryMinati) – A content creator and entrepreneur from
India, Ajey started with YouTube videos and has now built a brand that includes
merchandise, digital appearances, and content collaborations. His channel has
grown into a profitable digital business, showing how content creation is a
viable entrepreneurial path.
• Viraj Sheth and Ranveer Allahbadia (Monk Entertainment) – They co-
founded Monk-E, a talent management and influencer marketing agency. This
media startup manages YouTubers, produces branded content, and has emerged
as a full-service media company.
• Netflix and TVF (The Viral Fever) – TVF started as a small independent
content startup that created youth-centric web series. It now competes with
global platforms like Netflix and Amazon Prime. This reflects how independent
production houses can scale up in the digital age.

These examples highlight how digital content, influencer marketing, production,

and niche journalism present rich entrepreneurial opportunities in the media
space.

Importance of Networking in Entrepreneurship

Networking is a critical element of entrepreneurial success. It involves building

and nurturing relationships that can provide support, guidance, resources, and
opportunities for business growth.
Why Networking is important

For entrepreneurs, networking helps in finding potential investors, clients,

mentors, and collaborators. A strong professional network can open doors that
would otherwise remain closed. For example, a single introduction to the right
investor or a strategic partner can dramatically accelerate a startup’s growth.

Networking also offers access to market insights, business trends, and feedback,
which are crucial for making informed decisions. Engaging with experienced
professionals allows entrepreneurs to learn from the successes and failures of
others, avoiding common pitfalls.

Additionally, networking provides moral support and encouragement, especially

during challenging phases. Entrepreneurial journeys can be isolating, and being
part of a network helps individuals stay motivated and inspired.

Attending industry events, participating in business forums, joining online

communities, and maintaining active social media profiles are all effective ways
to build a strong network. Consistent and genuine engagement is key to
nurturing long-term professional relationships.
Examples: Effective networking has played a key role in the success of many
media entrepreneurs.
• Ankur Warikoo – A former CEO of Nearbuy, now a digital educator and
influencer, Warikoo uses platforms like LinkedIn and Instagram to build
networks, share entrepreneurial insights, and grow his personal brand—
demonstrating the long-term value of strategic networking.
• Startup India Initiatives – Through platforms like the MAARG
mentorship portal and Startup India Hub, the government facilitates structured
networking between startups, mentors, and investors—proving institutional
support for entrepreneurial networking.

These cases show how networking opens new markets, collaboration

opportunities, and mentorship, often becoming a cornerstone of long-term
business success.