The document provides information about entrepreneurship and innovation. It defines entrepreneurship as strategic thinking and risk-taking that creates new opportunities. Innovation is key to entrepreneurship as it creates competitive advantage. Entrepreneurs are innovators who take hands-on responsibility for creating innovation. The document discusses the elements of innovation including challenge, customer focus, creativity, communication, collaboration and more. It also discusses motivation, creativity, science clubs, schemes by the Ministry of Skill Development and Entrepreneurship including Pradhan Mantri Kaushal Vikas Yojana and Udyamita. Market surveys, prototypes, and support for MSMEs are also summarized.

1. mathansub84@gmail.com mathankumar@vmkvec.edu.in

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Entrepreneurship
Entrepreneur
Innovation
Motivation
Science Club
Ministry of Skill Development and Entrepreneurship (MSDE)
Pradhan Mantri Kaushal Vikas Yojana (PMKVY)
Udyamita
Prototype
Market Survey

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4. What is Entrepreneurship?
Strategic thinking and risk-taking behavior
that results in the creation of new
opportunities for individuals and/or
organizations.
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5. Need for Entrepreneurship
Increases National Production
Balanced Area Development
Dispersal of Economic Power
Reinvestment of Profit for the Welfare of the Area of Profit Generation
Development is a Function of Motivation and Human Resource
Entrepreneurial Awareness
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Who is an Entrepreneur............

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Entrepreneur…………..
 Risk-taking individuals who take actions to pursue
opportunities and situations others may fail to
recognize or may view as problems or threats.
 People who introduce a new product or operational
change in an existing organization.

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11. Common about Entrepreneurs
 Entrepreneurs are born, not made.
 Entrepreneurs are Gamblers.
 Money is the Key to Entrepreneurial Success.
 You have to be Young to be an Entrepreneur.
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12. Benefits of Being an Entrepreneur
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INNOVATION…………..
Motivation
Creative
Idea
Expertise

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INNOVATION
Innovation is the successful development of competitive advantage and
as such, it is the key to entrepreneurship. The entrepreneurs are the
“Dreamers”, who take hands on responsibility for creating innovation.
It is the presence of innovation that distinguishes the entrepreneur from
others.
Innovation, must therefore, increase competitiveness through efforts
aimed at the rejuvenation, renewal, and redefinition of organizations,
their markets or industries, if business are to be deemed
entrepreneurial.

15. Elements of Innovation
 Challenge: What we are trying to change or accomplish – the “pull”
 Customer focus: Creating value for your customers – the “push”
 Creativity: Generating and sharing the idea(s)- the “brain”
 Communication: The flow of information and ideas – the “life blood”
 Collaboration: People coming together to work together on the idea(s) – the “heart”
 Completion: Implementing the new idea-the “muscle”
 Contemplation: Learning and sharing lessons lead to higher competency– the “ladder”
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 Culture: The playing field of innovation includes:
 Leadership (sees the possibilities and positions the team for action-the role
model)
 People (diverse groups of radically empowered people innovate –the source of
innovation)
 Basic values (trust and respect define and distinguish an innovative
organization-the backbone).Innovation values (certain values stoke the fires
that make the “impossible” possible-the Spark).
 Context: Innovation is shaped by interactions with the world.
Elements of Innovation

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CREATIVITY
 Growth and development cannot be sustained without additional
innovations (usually in the product or services or in its marketing) with
additional innovations, firms become “glamorous” Introducing new
products is usually seen as part of the process of innovation, which is itself
seen as the engine driving continued growth and development.
 The “winning performance” of the entrepreneur and the organization
focuses on.
Competing on quality not prices
Domination of a market niche
Competing in an area of strength
Having tight financial, and operating controls
Frequent product or service innovation (particularly important in
manufacturing).

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To innovate we need to identify
Challenges Creative solutions

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Some records indicate a version of the toothbrush dates back as far as 5000 years ago.
Babylonians rubbed a “chew stick” on their teeth and mouth to keep them clean.

20. MOTIVATION
Roll of Faculty
 Finding the interested students
 Gathering project Ideas from the students
 Identifying the realistic scope for the project
 Selecting the individuals/batches
 Monitoring
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21. How should Engineer Think
If we are supposed to reach the other
side and accomplish a task:
 Do we complain and return
 Do we find alternate path
 Do we build the bridge
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22. How to Identify and Motivate a Student…………..?
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23. Science Club is a successful approach to STEM Education (Science, Technology,
Engineering and Math) that integrates high quality, hands-on instruction with a deep
commitment to serving our community. Relationships are at the core of our approach
between students and mentors.
We work together to develop and implement impactful programs for underserved
populations. We always start by asking “How can we help?” and work hard to respond
to community need. We believe in long-term programs which deliver measurable
outcomes, demonstrated through rigorous evaluation.
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The Science Club approach is a mentor-driven program.
Built on the mentorship-based approach to science learning and teaching.
Science Club programs bridge Student & faculty and foster the
development of skills, such as experimentation, critical thinking and problem
solving.
By giving our members a supportive environment to explore STEM, we are
also building more confident learners and educators.
We believe in making a difference through hands-on, community-centered
engagement.

25. Entrepreneurship Development
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An Entrepreneurship Development Scheme is currently being developed by
Ministry of Skill Development and Entrepreneurship. The scheme will being
designed around the following major elements:
 Educate and equip potential students and early stage entrepreneurs across India
 Connect entrepreneurs to peers, mentors, incubators
 Support entrepreneurs through Entrepreneurship Hubs (E-Hubs)
 Catalyze a culture shift to encourage entrepreneurship
 Encourage entrepreneurship among underrepresented groups
 Promote Entrepreneurship amongst Women
 Foster social entrepreneurship and grassroots innovations

26. Ministry of Skill Development and Entrepreneurship
(MSDE)
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The National Skill Development Mission was approved by the Union Cabinet on
01.07.2015, and officially launched by the Hon‟ble Prime Minister on 15.07.2015
on the occasion of World Youth Skills Day.
The Mission has been developed to create convergence across sectors and
States in terms of skill training activities.
Further, to achieve the vision of „Skilled India‟, the National Skill Development
Mission would not only consolidate and coordinate skilling efforts, but also
expedite decision making across sectors to achieve skilling at scale with
speed and standards.
It will be implemented through a streamlined institutional mechanism driven by
Ministry of Skill Development and Entrepreneurship (MSDE).

27. Ministry of Skill Development and Entrepreneurship
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 Key institutional mechanisms for achieving the objectives of the Mission have been
divided into three tiers, which will consist of a Governing Council for policy guidance
at apex level, a Steering Committee and a Mission Directorate (along with an
Executive Committee) as the executive arm of the Mission.
 Mission Directorate will be supported by three other institutions:
National Skill Development Agency (NSDA),
National Skill Development Corporation (NSDC) and
Directorate General of Training (DGT)

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 Seven sub-missions have been proposed initially to act as building blocks for
achieving overall objectives of the Mission.
Institutional Training
Infrastructure
Convergence
Trainers
Overseas Employment
Sustainable Livelihoods
Leveraging Public Infrastructure
Ministry of Skill Development and Entrepreneurship

29. Pradhan Mantri Kaushal Vikas Yojana
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Approved for another four years (2016-2020) to benefit 10 million Youth
 Pradhan Mantri Kaushal Vikas Yojana (PMKVY) is the flagship scheme of the Ministry of
Skill Development & Entrepreneurship (MSDE).
 The objective of this Skill Certification Scheme is to enable a large number of Indian youth to
take up industry-relevant skill training that will help them in securing a better livelihood.
 Individuals with prior learning experience or skills will also be assessed and certified under
Recognition of Prior Learning (RPL).
 Under this Scheme, Training and Assessment fees are completely paid by the Government.

30. Pradhan Mantri Kaushal Vikas Yojana (PMKVY)
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Key Components of the Scheme:
1. Short Term Training
2. Recognition of Prior Learning
3. Special Projects
4. Kaushal and Rozgar Mela
5. Placement Guidelines
6. Monitoring Guidelines
The scheme will be implemented through the National Skill Development
Corporation (NSDC).

31. UDYAMITA
 Udyamita „Udyamita‟ aims to create an enabling ecosystem for entrepreneurship
development through entrepreneurship education & training, advocacy, and easy access to
entrepreneurship network.
 Under Udyamita, 2200 colleges, 300 schools, 500 ITIs and 50 Vocational training centres
(VTCs) will be enabled to deliver entrepreneurship education and training to over 24 lakh
students.
 This initiative is expected to create approx. 30000 start-ups over five years, consequently,
creating approx. 2,60,000 direct and indirect jobs.
 Also, a strong pool of approx. 8900 Entrepreneurship Educators and 10,180 Mentors will be
created.
 This will be supported by a network of Entrepreneurship and Coordination Hubs (E-hubs),
comprising of 1 National E-hub, 5 Regional E-Hubs and 50 Nodal E-Hub for resource
management and organization at different levels.
 The enrolled colleges, schools, ITIs and VTCs under this program will be the implementation
arm of the Project.
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32. Ministry of Micro, Small and Medium Enterprises
(MSME)
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 Providing training to first generation entrepreneurs
 Assisting entrepreneurs in setting up of enterprises
 Creating indigenous entrepreneurship
 Providing financial assistance for establishment of new institutions (EDIs)
 Strengthening the infrastructure of the existing EDIs
 Supporting entrepreneurship and skill development activities.
Providing assistance through
 Entrepreneurship Development Programmes (EDPs)
 Entrepreneurship cum Skill Development Programmes (ESDPs)
 Training of Trainers (ToTs) programmes
in the areas of Entrepreneurship and/or Skill Development.

33. Design Clinic Scheme for Design Expertise to MSME
Manufacturing Sector
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 To create a sustainable design eco system for the MSME sector through continuous
learning and skill development
 Bring the industrial design fraternity closer to the MSME Sector
 Develop an institutional base for the industry‟s design requirement
 Increase the awareness of the value of design and establish design learning in the
MSME
 Increase the competitiveness of local products and services through design.

34. MSME Salient Features
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Applicability of project funding is to an individual MSME or a group of MSMEs coming
together.
A Design Company/ Academic Institutions will visit the unit and scrutinize all designs
relevant fields & will suggest next steps to be taken.
Project Proposal to be prepared and to be submitted to Design Clinic Centre for
consideration.
Mobilization and Co-ordination workshop for MSME officials.
Seminar / Workshops (including need assessment survey).
Promotional Activities such as Orientation programme for stake holders, Study on
Global Practices & Design Clinic Programme of other countries and National Level
Workshop, etc.
Implemented through National Institute of Design (DIPP Institution).

35. Schemes
The scheme is divided in two major parts:
i. Design Awareness- Seminars & Workshop Design Seminars:
One day seminar covering design related topics to sensitize MSME‟s about the
usage of design in various facets of their industry. (GOI contribution Rs. 60,000/-
per programme).
Design Workshop
 Total time allocated for each workshop is 3 - 5 days.
 One day will be spent in visiting Cluster & understanding issues concerned with
cluster. Thereafter there will be training on design clinic solution delivered by an
expert or a group of experts in an interactive manner. (GOI contribution Rs. 3.75
lakh per programme).
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ii. Design Projects – Professional Design Projects & Students Design
Projects
Professional Design:
To facilitate MSMEs to develop new Design strategies and or design related products
and services through project interventions and consultancy. (GoI contribution @ 75%
for micro, 60% for SMEs for the project range Rs. 15 lakh to Rs. 40 lakh.)
Students Design Projects:
Students in the final year under UG/PG programmes from institutions recognized by
design clinic centre are eligible under this activities for the project work done for
respective MSMEs. (GOI contribution @ 75% for the project cost of Rs. 2 lakh)
Schemes

37. IISc-MSME Center of Excellence, Bengaluru
Application Procedure – Screening
 Stage 1 - Eligibility under Scheme
 Stage 2 - Analysis of research submitted
 Stage 3 - Discussion with Professor
Concept Prototype
 Proposer shall develop prototype
 IISc shall provide mentoring
 Process continues till objectives are met
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Permissible Assistance
 Assistance upto 50% of the cost
 1 to 3 MSMEs - 9L
 More than 3 MSMEs - 15L
Expectation
 Concept Note must be crisp
 Proposal should not involve Reverse Engg.
 Centre reserves the right to accept or reject any proposal
IISc-MSME Center of Excellence, Bengaluru

39. Expectations From MSMEs (Student‟s Project)
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 Proposers must submit their „ideas‟ through a „Concept Note‟ which shall invariably be
supported by research done (along with data) by them leading to the proposed idea.
 This Concept Note must be crisp and informative and must establish its innovativeness,
including its potential patentability.
 Does not support any proposal which involves reverse-engineering / duplication of
design for import substitution, etc.
 The proposer must take all the responsibility in all the activities
 The proposer must share the cost of development which normally will be around 40% to
50%.
 The decision of the competent authority at IISc, Bangalore &/or Ministry of MSME,
Government of India will be final and binding on all concerned.

40. MARKET SURVEY
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The survey objectives are the high-level questions the organization is looking to answer.
Like
 What is the basic need and desire for the products and services?
 How can the product be made more attractive to potential customers?
 What price should be charged for the product?
 What advertising messages will best attract the target customers?
 Where and how should the product be sold?

41. MARKETING SUPPORT TO MSMEs
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The Scheme provides marketing support to Micro, Small & Medium Enterprises
through National Small Industries Corporation (NSIC) and enhance competitiveness
and marketability of their products, through following activities:
 Support for Co-sponsoring of Exhibitions organized by other organisations/ industry
associations/agencies
 Organizing Domestic Exhibitions and Participation in Exhibitions/ Trade Fairs in India
 Organizing International Technology Exhibitions in Foreign Countries by NSIC and
participation in International Exhibitions/Trade Fairs
 Buyer-Seller Meets
 Intensive Campaigns and Marketing Promotion Events

42. MARKET SURVEY FOR COMMERCIALIZATION
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 Marketing, a strategic tool for business development, is critical for
the growth and survival of micro, small & medium enterprises.
 Marketing is the most important factor for the success of any
enterprise.
 Large enterprises have enough resources at their command to hire
manpower to take care of marketing of their products and services.
 MSME sector does not have these resources at their command
and thus needs institutional support for providing these inputs
in the area of marketing.

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 Ministry of Micro, Small & Medium Enterprises, inter-alia, through National Small
Industries Corporation (NSIC), a Public Sector Enterprise of the Ministry, has been
providing marketing support to Micro & Small Enterprises (MSEs) under Marketing
Assistance Scheme.
 There was a need to provide space for the small enterprises to grow into medium
scale enterprises, for that is how they will be able to adopt better and higher levels of
technology and remain competitive in a fast globalizing world.
MARKET SURVEY FOR COMMERCIALIZATION

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 The need of the hour presently is to provide sustenance and support to the whole MSME
sector (including service sector), with special emphasis on rural and micro enterprises,
through suitable measures to strengthen them for converting the challenges into
opportunities and scaling new heights.
 Thus although the medium enterprises are also proposed to be included as the target
beneficiaries in the scheme, special attention would be given to marketing of products
and services of micro and small enterprises, in rural as well as urban areas.
MARKET SURVEY FOR COMMERCIALIZATION

45. STARTING A NEW VENTURE
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Before starting a new venture, one can summarize the critical factors in three main groups:
 The people (the founders, including the management team as well)
 The idea (as developed and refined concept in order to exploit market opportunities)
 The resources (which are important for the setting up of the business and making it grow)

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Important issues in new venture creation:
 Does the entrepreneur have good ideas and the courage to give them a
chance?
 Is the entrepreneur prepared to meet and master the test of strategy and
competitive advantage?
 Can the entrepreneur identify a market niche that is being missed by other
established firms?
 Can the entrepreneur identify a new market that has not yet been
discovered by existing firms?
 Can the entrepreneur generate first-mover advantage by exploiting a niche
or entering a market before competitors?
STARTING A NEW VENTURE

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Basic items that should be included in a business plan:
 Executive summary
 Industry analysis
 Company description
 Product and services description
 Market description
 Marketing strategy
STARTING A NEW VENTURE
Operations description
Staffing description
Financial projection
Capital needs
Milestones

48. How to become a Successful Entrepreneur
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An entrepreneur isn‟t someone who owns a business; it‟s someone who makes things
happen. Putting ideas into practice requires a unique set of skills. Many times, great
ideas do not see the light of the day because of lack of knowledge and skills. Here is a
list of 10 skills that every entrepreneur must learn:
1.Take Risks
2. Think Out-of-the-Box
3.Power to Convince.
4. Multi-Tasking
5.Strong Determination
6.Effective Communication
7.Manage Money
8.Lead by Example
9.Think Big
10. Open to Failure

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