Entrepreneurship and Innovation will allow curious young minds to explore their ideas and open opportunities for them. Know more. To know more details, visit : https://mitidinnovation.com/recreation/introduction-to-innovation-and-entrepreneurship/

1. Introduction To
Innovation and
Entrepreneurship
MITID Innovation

2. In this day and age, most people are content
with the mundane, the ordinary, but there
are few whose ions have no limits.
Our innovation courses are meant for
brilliant students who want to create change
through their thinking, the ones influenced
by the future technologies and trends, and
those who strive to establish themselves
and leave a mark in the political, social, and
technological disciplines. These visionaries
have bold ideas and wish to shake up the
status quo.

3. The innovators of tomorrow are building a
future today, and we must provide them
with the resources and the guidance to
carve the path that is meant for them. This
general introduction to innovation and
entrepreneurship will allow curious young
minds to explore their ideas and open
opportunities for them.

4. Innovation and Entrepreneurship are two
common concepts found in political
discussions as they are aspects of
economic growth and sustainable
development. There is often uncertainty
regarding these terms and what the
connection between them exactly is.
What Exactly are Innovation
and Entrepreneurship

5. An entrepreneur is an innovator in
Schumpeter, and this definition establishes
the most distinction between
entrepreneurship, innovation, and economic
growth. ‘Innovation’ has been defined as
implementing and executing a new or
significantly improved product. Innovation
can be about a process, a new marketing
method, or a new organizational method in
workplace organization or external relations
and how these innovations are enacted and
administered.

6. To understand the role of innovation in
entrepreneurship, take a look at our
article.
Entrepreneurship and innovation are
essentially two sides of the same coin
and can be defined through their
relation. Innovative phenomena require
some form of entrepreneurial behaviour
and practices. The implementation of
innovative ideas is significant to a
successful entrepreneur.

7. Besides this introduction to innovation and
entrepreneurship, you can learn more
about these phenomena by checking out
Peter F. Drucker’s classic book Innovation
and Entrepreneurship.It has been
described as the first book that
acknowledges innovation and
entrepreneurship as a purposeful and
systematic discipline. It also analyzes the
challenges and opportunities of an
entrepreneurial economy.

8. Studies after studies have shown that
enthusiastic and ambitious entrepreneurial
practices manifest into rapid growth for
gazelle companies. The gazelles
accounted for over 10 percent of the growth
in GDP in the last period, 2004-2007.
Innovation and
Entrepreneurship
for Profitable Development

9. These 10 percent of companies together
account for the entire increase in
employment and between 65 and 100 per
cent of the growth in added value regarding
the period. The smallest gazelle companies
are responsible for the majority of the
employment growth, and the same is true of
the youngest companies. An established
pattern and significant studies demonstrate
that innovative practices are effective in the
success trend of gazelle companies.

10. The economic effect of innovations is visible
when viewed with secondary innovations. In
general, radical innovations are very
important to expand and establish new
markets. An article by NITI Aayog talks about
how India must promote entrepreneurship
and startups to generate growth, prosperity,
and well-being. It talks about creating a
holistic innovation and entrepreneurial
ecosystem in our educational institutes. We
at MIT ID Innovation share a similar belief.

11. MIT Institute of Design was set up to
establish deeper connections and ensure
quality in all academic processes and
outcomes. The institute's vision is to create a
holistic ecosystem that prepares today’s
MIT ID Innovation aims to
Introduce Innovation and
Entrepreneurship to Young
India

12. young minds to be design leaders who
contribute to industry and society. MIT ID
focuses on leading the way in creative
and experimental practices by young
innovators. MIT ID Innovation has new
pedagogical approaches and meaningful
collaborations with diverse academic,
industry, research, and professional
organizations.

13. With a diverse student group and
excellent staff, our learners are
presented with the best space for
intellectual growth.
Enroll in our Innovation focussed courses
and upskill for tomorrow. Build your
innovation capability today.

14. MIT ID Innovation Programme curates
knowledge and experiences that
challenge the very paradigm of evolution.
And that's why we have set out to define
the future of industries, communities,
cities and ecosystems. MIT ID Innovation
offers the best Innovation Courses in
Pune.
Conclusion

15. We’d love to
hear
from you.
MIT INSTITUTE OF DESIGN
Rajbaug,, Loni-Kalbhor, Pune-412201
innovation@mitid.edu.in
+91-7038982225 / +91 9834092369