| Pub. Date | : Sep, 2019 |
|---|---|
| Product Name | : The IUP Journal of Entrepreneurship Development |
| Product Type | : Article |
| Product Code | : IJED21909 |
| Author Name | :Kirti Jainani |
| Availability | : YES |
| Subject/Domain | : Management Journals |
| Download Format | : PDF Format |
| No. of Pages | : 09 |
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.
Entrepreneurship is a process of identifying, evaluating or creating opportunities to innovate
or integrate new values, products or services at a marketplace. Many young entrepreneurs
today do not come from traditional business families, which reflects in their mindset as well.
They are more concerned about rapid growth, that is their mantra.
The Government of India (GOI) has undertaken several initiatives and instituted policy
measures to foster a culture of innovation and entrepreneurship in the country. Job
engenderment is a foremost challenge India is facing. With a consequential and unique
demographic advantage, India, however, has immense potential to innovate, raise
entrepreneurs and engender jobs for the benefit of the nation and the world. The GOI promoted
entrepreneurship through the Startup India initiative, which was launched in January 2016.