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Perception about the Kind of Entrepreneur the Youth of India should Opt for


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Hey everyone! This presentation initially discusses the Kind of Entrepreneurs there are. From that, through various statistical data & analysis, the conclusion is derived as to which type the youth of …

Hey everyone! This presentation initially discusses the Kind of Entrepreneurs there are. From that, through various statistical data & analysis, the conclusion is derived as to which type the youth of India should take up. Considering the vastness of the topic, the conclusion might be a little limited to the actual conclusions which could be drawn but it is almost complete in itself.

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  • 1. Perception about the kind of Entrepreneur the Youth of India should Opt for Fundamentals of Entrepreneurship Presentation
  • 2. Social Innovative Serial Imitative Lifestyle Fabian Drone Types of Entrepreneur
  • 3. INDIA– the Upside • 3rd fastest growing economy in the world • By 2020, 64% of population in the working age group • Huge potential for high quality man-power • Abundance of underserved markets esp. Rural & Semi-rural • Gov. recognizing the importance of entrepreneurial talent • Foreign funding for social and/or environmental ventures
  • 4. Youth force • Youth median age = 28 years; China & Japan = 37.6 & 44.4 respectively • Full of zeal and enthusiasm in creating innovative ideas • Advantages to the manufacturing & service sector – high access to young people & low cost pressures • Huge contribution to the total consumption – High DPI attracts FI; $549b to $ 1t in past 5 yrs • Savings increases due to expansion of proper work age • Time for proper training & implementation by Govt (Source Euromonitor)
  • 5. INDIA’S KEY ENTREPRENEURIAL TALENTS KEY STATEMENTS % OF YOUTH WHO AGREED A successful business is when it makes profit 69% Even when things go wrong you feel very optimistic 66% You never give up until you reach the goal 65% You would rather take a risk to build your own business than work for someone else 39% Source (Gallup Study, 2011) CONCLUSION • Abundance of personal entrepreneurial talents • Lack of willingness to take risk. • Risk important for building a scalable & sustainable entrepreneurial venture
  • 6. Q: Do you think entrepreneurs are a major source of technology innovation in your country? 87 85 83 79 72 72 62 US France India China Germany UK Japan Source (Accenture & YEA, 2012-13) Research Group : 1000 youth entrepreneurs across the globe CONCLUSION • Majority of youth link entrepreneurs to innovation technology. • Indian youth mindset conducive to technological innovation. • Major scope if rightly pushed by the Gov. through policies & schemes
  • 7. Q: In your industry, what will the three most innovative countries in two year’s time? Japan 14 India 14 UK INDIA:• Ranked = Japan in terms of innovation • Mass market with low income • Growing technological awareness • Huge scope for Frugal Innovation 17 Germany 22 China 34 US 46 % in top three Source (Accenture & YEA, 2012-13) Frugal Innovation - process of reducing the complexity and cost of a good and its production. Inherent for Indian Entrepreneurs to reach a mass market with low income facing large social issues
  • 8. The profitable sectors in India for an Entrepreneur MAJOR FINDINGS Education :• Highest profit-making (38%) • One of the lowest loss-making (24%) • Good growth potential; 38% breaking • Profit-making enterprises could increase in the coming years. Health:• Few profit-making • Lowest % (13%) loss-making • At73%, largest segment of break-even • Shift from break-even to profitable could lead to highest profit earner Source (Beyond Profit Survey) Rural Development :• Largest no. in this field • Biggest loss making sector • However, largest revenue earned(2010) • More surprises in store
  • 9. AGRICULTURE • Contribution of 22% in GDP of India • 3rd in terms of total agriculture produce after China & US • Different areas to startup a venture:• At Farm level • As a Service Provider • Input Producer • Value Chain/Processing/Marketing • Prominent Leaders – Tribhuvandas Patel (Amul), • Chandra Dubey (Bhushan Agro) TECHNOLOGY • Amongst the world’s largest contributors. (Silicon Valley) • most important outsourcing destination for software, IT and IT-enabled services • Home to advanced R&D centers serving several global IT leaders. • Prominent Leaders – Sachin Bansal (Flikpkart), • Phanindra Sama (Red Bus)
  • 10. Challenges faced by Young Entrepreneurs • Innovative/ground breaking idea • Funds/ initial capital • Family pressure • Risk aversion • Working through failure • Government support & training • Socio – economic policies
  • 11. Support for an Entrepreneurial Youth
  • 12. Government Initiatives • Small Industries Development Bank of India(SIDBI) – loans & assistance to MSMEs; 25 lacs to 10 cr • Credit Guarantee Trust for Micro Small Enterprises(CGTMSE) – guarantee to banks upto 85%; collateral free loan upto 1cr • National Bank for Agricultural & Rural Development (NABARD) – Dairy farming grant; upto Rs 24 lacs • National Manufacturing Competitiveness Program(NMCP) :• Building Awareness on Intellectual Property Rights (IPR) for MSME • Lean Manufacturing Competitiveness Scheme for MSMEs • Mini Tool Rooms proposed to be set up by Ministry of MSME (MTR) • Design Clinic Scheme for design expertise to MSMEs Manufacturing sector (DESIGN) • Technopreneurship Promotion Program :• Technopreneurship Support(TS) – lab-scale demo, prototyping, simulations; upto Rs 75,000 • Technopreneurship Promotion Fund(TPF) – convert original ideas into working models; upto Rs 15 Lac
  • 13. Private Support Acumen Fund Enterprises providing critical goods and services ($40 million) Ventur East Builds profitable businesses for under-served markets ($250 million) Oasis Fund Innovative solutions access to critical goods and services ($30 million) Aavishkaar India Micro Venture Capital Economic activity at the bottom of the pyramid ($14 million) Elevar Equity II Market-based solutions for poverty eradication ($40 million) Funds mentioned are in total And many more….
  • 14. Why Rural Markets OR Something Social? • From 2009-2012, Per capita GDP has grown faster in rural areas than in its urban centres 6.2% versus 4.7% • Rural incomes growing; buying discretionary goods and lifestyle products – cell phones, TV sets and two-wheelers. • Spending in rural India reached $69 billion, urban population $55 billion; consumption increase Figures Source (Accenture)
  • 15. Some Extraordinary examples of Social + Innovative
  • 16. Good for chilling beer cans in dorms The Mitticool Fridge Mansukhbhai Prajapati (2006) • Made entirely from clay; costs roughly $50 and uses no electrical power. • Can keep items of food fresh for up to five days • Valuable addition to rural communities in India.
  • 17. The Bamboo Windmill Mehtar Hussain and Mushtaq Ahmed • From Assam; costed $100 to pump water from a small paddy field. • Petrol-powered pumps consume huge amounts of fuel; costs around $1,000 pa • Adopted by Gujarati salt workers to pump brine water.
  • 18. How about we have this for our classroom? Darshana – Lunch-box Projector Frugal Digital • low-cost lunch box projector for use in schools. • fitted with a small USB 2.0 port and uses a phone touch screen as a trackpad.
  • 19. The true “dhak dhak India”! Motorcycle-Based Tractor Mansukhbhai Jagani • Cost effective - costing roughly $318 • Fuel efficient - can plough an acre of land in 30 minutes with just two liters of fuel.
  • 20. Mechanical Tree Climber D. Renganathan • For scaling palm and coconut trees. Uses a 'four-lock pin' system to prevent falls. • The device now sells across south Asia. Also useful in losing weight!
  • 21. Verdict Social entrepreneurship in India is emerging primarily because of what the government has not been able to do With the current economic climate, social needs will increase and, consequently, the no. of people committed to addressing them will increase. Innovation is another domain where youth can get a strong foot-hold given the idea behind is focused towards rural & semi-rural areas. The government is realizing how much of a crucial role they play in shaping youth into budding entrepreneurs and have put forward some strong policies & programs in their interest.
  • 22. So have strong determination and motivation…. TO BE AN ENTREPRENEUR! Because doing the 9 to 5 (+7) job makes you something like this….
  • 23. Because what’s life without RISK!
  • 24. Created by : Siddhant Bhatia