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With the emerging business opportunities, India is gradually moving to become a leading global start-up hub with rising numbers of new companies, venture capitalists, and entrepreneurs.
To create conducive Start-up ecosystem in order to boost entrepreneurship, the government has created an entire ministry dedicated to helping new businesses through ‘Ministry of Skill Development and Entrepreneurship’. The present government has introduced many schemes to promote entrepreneurship and assist emerging Start-ups financially. The government schemes launched for developing and encouraging entrepreneurship in India are Start-up India initiative, ASPIRE, Mudra Bank, Atal Innovation Mission, eBIZ Portal, Dairy Processing and Infrastructure Development Fund (DIDF), Support for International Patent Protection in Electronics & Information Technology (SIP-EIT), Multiplier Grants Scheme (MGS), Credit Guarantee Scheme for Startups (CGSS), Software Technology Park (STP) Scheme, The Venture Capital Assistance Scheme (VCA), Loan For Rooftop Solar Pv Power Projects, NewGen Innovation and Entrepreneurship Development Centre (NewGen IEDC), Modified Special Incentive Package Scheme (M-SIPS) etc. These initiatives of the government have led to the change in perception of Indian people towards entrepreneurship.
This reflects in the current Global Entrepreneurship Monitor (GEM) 2019/2020 report which posits that seven out of ten Indians surveyed agreed that they have started their own business to make a difference in the world and to create wealth. This reflects that Indians are highly motivated to make a difference in the world through “Purpose Driven Entrepreneurship” alongside more traditional motivations of just making a living because jobs are scarce or to continue a family business. These self-perceptions of opportunism and proactivity of Indians to be seen by others as innovators and wealth creators is an encouraging sign of a ‘Collective Will’ for future business sustainability that will provide India as a fertile ground for new business research.
“Take up one idea. Make that one idea your life, think of it, dream of it, live on that idea, let the brain, muscles, nerve, every part of your body be full of that idea and just leave every other idea alone. This is the way to success.” - Swami Vivekananda
Under this premise, AMITY UNIVERSITY, UTTAR PRADESH has organized a Virtual Startup Expo as part of 3rd International Conference on Entrepreneurship, Innovation and Leadership (ICEIL’20) on the theme “Harnessing Innovation, Technology, Entrepreneurship and Sustainability” scheduled from 17th -19th December 2020.