The IUP Journal of Entrepreneurship Development
Visionary Entrepreneurship in India in the Digital Era: A Predicated Factors-Based Study

Article Details
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

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Abstract

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.


Introduction

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.


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