Sep'19
The IUP Journal of Entrepreneurship Development
Focus
One significant influence would be education and understanding developed to systematically create ventures. In today�s times, the entire ecosystem with schemes and startup support programs encourages the youth for starting their own ventures. Perhaps, a thought change is already on the way transforming job seekers into job creators. This issue brings these thoughts on the journey of making up of enterprises.
The first paper, �Entrepreneurial Aspirations Among University Students�, by Sanjay Thakur, identifies the entrepreneurial aspirations of the university students. The study attempts to identify the reasons for not opting for entrepreneurship as a career option by students. It also looks into how the curriculum and pedagogy can be modified to produce successful entrepreneurs. Today, a lot of schemes are in place to encourage entrepreneurship amongst the youth, and hence it requires focused thought from the educational institutions to orient students towards entrepreneurship.
The second paper, �Visionary Entrepreneurship in India in the Digital Era: A Predicated Factors-Based Study�, by Kirti Jainani, develops a framework for predicating entrepreneurial factors driving an individual to start his/her own venture. The study takes into account factors from the previous studies and develops a framework by ranking the influential factors. The study is an interesting exploration of various factors impacting entrepreneurial development.
The third paper, �The Influence of Informal Financial Enactment on SMEs�, by
S Priyadharsan, examines the prominence of informal financial enactment on SMEs, in the context of Sri Lanka. Conceptual variables like self-help group finance, trade credit, family and friend�s finance and shylock finance have been considered. The findings of the descriptive analysis reveal that family and friend�s finance play the main role in the financing of SMEs, while correlation analysis shows that all variables, except shylock finance, have positive relationship with the performance of SMEs.
The fourth paper, �Tourism Visitor Export, Income Generation and Employment Capacity: A Comparative Analysis of the Tourism Industries of India, China and Malaysia�, by Syed Asghar Mehdi, analyzes the contribution of tourism industry to income and employment generation in these three countries. The findings recommend facilitating tourism entrepreneurship as it contributes significantly. For a country like India, with its rich cultural heritage and demographic diversity, tourism can significantly contribute to the GDP. Also with better connectivity and infrastructure, rural circuits can be developed by promoting tourism entrepreneurship.
This issue also includes a case study, �Greg Moran and Zoomcar � India�s Hyper-Local Car Sharing Model�, by K B S Kumar and Indu Perepu. The case narrates an interestingsituation where a non-Indian, Moran, identifies the opportunity of self-drive car model in India. His opportunity identification results from the understanding of the Indian market from his university days. The case depicts Zoomcar�s journey from opportunity identification to tackling competition and how a non-Indian gets the confidence of investors for a business model in India. The case brings up an interesting situation of opportunity identification for students and young entrepreneurs.
Consulting Editor
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| Article | Price (₹) | ||
| Entrepreneurial Aspirations Among University Students |
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| Visionary Entrepreneurship in India in the Digital Era: A Predicated Factors-Based Study |
100
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| The Influence of Informal Financial Enactment on SMEs |
100
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| Tourism Visitor Export, Income Generation and Employment Capacity: A Comparative Analysis of the Tourism Industries of India, China and Malaysia |
100
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Case Study Greg Moran and Zoomcar � India�s Hyper-Local Car Sharing Model |
100
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Entrepreneurial Aspirations Among University Students
Entrepreneurship plays a premium role in industrial development. Entrepreneurship development is the key to the economic development of any country. There are two crucial problems in India, i.e., unemployment and scarcity of financial resources. Only entrepreneurial development can provide a solution to these problems. Entrepreneurs not only generate self-employment but also provide employment opportunities for others by setting up enterprises. On the other hand, most of the youth graduating from colleges and universities are aspiring for a job, rather than starting their own enterprise. The present paper is an attempt to find out the entrepreneurial aspirations among the university students and their future aspirations after completion of degree. An attempt has also been made to find out the reasons why students could not opt for entrepreneurship as a career option.
Visionary Entrepreneurship in India in the Digital Era: A Predicated Factors-Based Study
According to a survey, 12 million Indians join the labor force every year. Thus, major factors that lead to more entrepreneurial ventures need to be identified. The Government of India has also taken initiatives like Make in India, Atal Innovation Mission, Digital India, Startup India, Standup India, and National Skill Development Mission to support innovation and entrepreneurship in India. Nowadays, entrepreneurial skills alone are not enough to run startups smoothly. Some innovation needs to be added for value addition. This study attempts to develop a framework for predicting the entrepreneurial factors driving an individual to start his/her own venture. Factors have been taken from the literature to identify the critical factors and develop a causal framework by giving the appropriate ranking to all influential factors through AHP technique. Interpretive Structural Modeling has also been used to develop a relationship among all critical factors; and to validate the framework, the MICMAC analysis has been used.
The Influence of Informal Financial Enactment on SMEs
The present study examines the prominence of informal financial enactment on Small and Medium Enterprises (SMEs). Conceptual variables like self-help group finance, trade credit, family and friend�s finance and shylock finance have been considered. Data was collected through questionnaires distributed to hundred sample SMEs selected based on the systematic random sampling method. Data has been analyzed by central tendency and Pearson�s correlation test. The findings reveal that informal finance moderately influences the performance of SMEs. Furthermore, the results reveal that there is a positive and significant relationship between informal finance and enactment of SMEs. Suggestions for flexible rules and regulations, extension of the repayment period without additional cost and lower interest rate are made.
Tourism Visitor Export, Income Generation and Employment Capacity: A Comparative Analysis of the Tourism Industries of India, China and Malaysia
The tourism industry is a significant creator of employment opportunities. Tourism as a business encourages various other service sectors like hotels, resorts and guest house services, handicraft business and travel agencies. Travel & Tourism Economic Impact: World (2019) underlines that travel and tourism sector accounts for 10.4% of global GDP and 319 million jobs or 10% of total employment in 2018. As per the World Bank Ranking, China at 2nd position, India at 6th position, and Malaysia at 37th position are the rising nations on the global tourism front in the region. Tourism is the largest service industry in India and is widely used as an instrument of growth of national income, poverty alleviation, infrastructure development and employment generation. The present paper is an in-depth study, analyzing the visitor exports and income generation (GDP) vis-�-vis employment capacity creation by the tourism industry in India, China and Malaysia analyzed over a period of two decades (1995-2015). The findings reveal the usefulness of tourism for India as an instrument to set up the largest contributing parallel tourism economy, facilitating tourism entrepreneurship, leading to business development, especially in rural areas.
Case Study
Greg Moran and Zoomcar � India�s Hyper-Local Car Sharing Model
Zoomcar, the first start-up in India to flag off the self-drive car rental as compared to other initiatives that focused on chauffeur-driven services, was founded by two Americans�Greg Moran (Moran) and David Back�in 2013 in Bengaluru, India. Moran paid his maiden visit to India in the summer of 2011 to gather information about the country as a business destination. He gathered demographic, political and economic facts and statistics and made a reconnaissance of the Indian start-up scenario. Moran was inspired by the opportunities and gaps in India. As a 25-year-old investment banker in the US, Moran grew more and more confident about India as his business destination. Moran came down to India in 2013 to launch Zoomcar. He collaborated with car majors like Tata, Mahindra, Ford, etc. to build a fleet for a car-rental service with the self-driving model. He withstood and successfully overcame the adversities he met in the way of regulations, competition, union bodies, etc. to build Zoomcar. Zoomcar, one of the initial players in cab services, faced stiff competition from imitators and other players. Within a few years of its inception, about 25 start-ups followed Zoomcar�s model. These included Myles, Voler, JustRide, and Revv. With Uber and Ola occupying the point-to-point ride hailing segment in India, the going became tough for Zoomcar. The space was getting increasingly crowded. With the growing competition and a variety of business models crowding the car-rental segment, Zoomcar with about $1.47 mn of annual revenues, looked forward to capitalizing upon its niche segment of customers.