The document discusses entrepreneurship development and entrepreneurship programs. It defines entrepreneurship as identifying opportunities and arranging resources to exploit opportunities for long-term gains. Entrepreneurship requires characteristics like being a risk-taker and goal-setter. The document outlines several government institutions that provide entrepreneurship programs in India and discusses some problems faced by these programs, such as a lack of infrastructure and proper methodology. Overall, the document emphasizes that entrepreneurship development programs play an important role in eliminating poverty, promoting balanced regional development, and fostering economic independence in India.

1. Entrepreneurship
Development
Entrepreneurship is the process of identifying
opportunities in the market place, and arranging
resources required to exploit the opportunities for long
term gains.
 It is creating wealth by bringing together resources in
new ways to start and operate an enterprise.
 It is the process of planning, organizing, operating and
assuming the risk of a business venture.
 It is the ability to take risk independently to make more
earnings in market-oriented economy.

2. Entrepreneurship also refers to a process of action an
entrepreneur undertakes to establish an enterprise. It is a
creative and innovative skill and adapting response to
environment. This concept can be seen in figure:
Entrepreneur Entrepreneurship
Innovation
Creation
Person Process Object

3. Entrepreneurial Characteristics
Being an entrepreneur requires specific characteristics and skills that
are often achieved through education, hard work, and planning.
1. Risk Taker
2. Perceptive
3. Curious
4. Imaginative
5. Persistent
6. Goal-Setting
7. Hardworking
8. Self-confident
9. Flexible
10.Independent

4. Entrepreneur v/s Entrepreneurship
Entrepreneur Entrepreneurship
Person Process
Visualizer Vision
Organizer Organization
Decision maker Decision Making
Innovator Innovation
Risk bearer Risk bearing
Motivator Motivation
Creator Creation
Leader Leadership
Manager Management
Initiator Initiation
Planner Planning
Technician Technology
Communicator Communication
Administrator Administration

5. Definitions of Entrepreneurship
 Risk and Uncertainty Oriented Definitions:- According to Frank Knight,
“It involves a specialized group of persons who bear ‘risk’ and meet the
uncertainty”.
 Setting-up New Venture Definitions:- According to Pareek and Nadkami,
“Entrepreneurship refers to the general trend of setting up new enterprises
in a society”.
 Innovation and Leadership Oriented Definitions:- According to Rao and
Mehta, “Entrepreneurship can be described as creative and innovative
response to the environment”.
 Composite Skill Oriented Definitions:- According to Howard W. Jonson,
“Entrepreneurship is a composite of these basic elements --- invention,
innovation and adaptation”.
Entrepreneurship is a multi dimensional skill. It is defined by different
authorities. A number of definitions advanced by various experts can be put
under the following categories:

6. Need for Entrepreneurship Development
1. Increases national production.
2. Balanced area development.
3. Reinvestment of profit for the welfare of the area of
profit generation.
4. Development is a function of motivation and human
resource.
5. Entrepreneurial awareness.
6. Growing employment opportunity.
7. Increasing productivity.
8. Optimum use of local resources.
9. Continued innovation in techno – managerial practices.
10. Improving in international competitiveness.

7. Features of Entrepreneurship
Entrepreneurship is a very regarded as a factor of production together
with land, labour, natural resources, and capital. Entrepreneurial
spirit is characterized by innovation and risk-taking, and an
essential component of a nation’s ability to succeed in an ever
changing and more competitive global marketplace.
Features of Entrepreneurship are listed as:
1) Scarce human resource
2) Heterogeneous factor
3) Indispensable factor
4) Intangible factor
5) Highly mobile
6) Cannot be bought and sold
7) Residual reward

8. Entrepreneurship Development
Programmes
Entrepreneurship development programme may be defined as
a programme designed to help a person in strengthening his
entrepreneurial motive, and in acquiring skills and capabilities
necessary for playing his entrepreneurial role effectively.
Entrepreneurship development programme is designed to
identify person who have entrepreneurial spirits and
capabilities. These programmes provide immense
information to the potential entrepreneurial regarding new
business ideas, how to set-up a new venture, how to prepare
project report, how to fulfill legal formalities, sources of
raising finance etc. A programme which seeks to do all this
shall qualify to be called an entrepreneurship development
programme.

9. Government Institutions for Entrepreneurship
Development Programme in India
The Entrepreneurship Development Institute of India
(EDI), an autonomous body and not-for-profit institution,
set up in 1983, is sponsored by apex financial
institutions, namely the IDBI Bank Ltd, IFCI Ltd. ICICI
Ltd and State Bank of India (SBI).
The Institute is registered under the Societies Registration
Act 1860 and the Public Trust Act 1950. The
Government of Gujarat pledged twenty-three acres of
land on which stands the majestic and sprawling EDI
campus.

10. Following are the Government Institutions for
Entrepreneurship Development Programme in
India:-
1) National Institute for Entrepreneurship and
Small Scale Business Development (NIESBUD)
2) Entrepreneurship Development Institute of
India (EDII)
3) Technical Consultancy Organization (TCO)
4) Indian Investment Centre (IIC)
5) Post Graduate Diploma in Management -
Business Entrepreneurship (PGDM-BE)
6) Post Graduate Diploma in Management –
Development Studies (PGDM-DS)
7) Fellow Programme in Management (FPM)

11. Beside above mentioned institutions, there are various
National and State level institutions which provide
assistance to entrepreneurial development programme.
For example:
 SIDC: - State Industrial Development Corporation.
 IDBI: - Industrial Development Bank of India.
 ICICI: - Industrial Credit and Investment Corporation of
India.
 IFCI: - Industrial Finance Corporation of India.

12. Problems faced by Entrepreneurship
Development Programmes
No specific policy at national level
Non availability of infrastructural facilities
Duration of Entrepreneurship
development programmes
Lack of commitment
Selection of wrong trainees
Improper methodology
Luke warm attitude of financial
institutions
Less availability of competent staff

13. Role and
Relevance of
Entrepreneurship
Development
Programme in India
Eliminates
poverty and
unemployment
Balanced
regional
development
Prevents
industrial slums
Harnessing
locally available
resources
Defuses social
tension
Capital
formation
Economic
independence