Development of Entrepreneurship and friendly Entrepreneurial eco system

Entrepreneurship is the process of making something more useful or more affordable by innovation. This innovation may be technical in nature or process improvement or both. Some of the new enterprises have used the power of information technology to provide services and products for benefit of users in daily life e.g. Ola, Snapdeal, Zomato, flipcart etc which are common household names.

Entrepreneurship opportunities go in hand with technological developments as new enterprises start in area of emerging technologies. In era of internet revolution, the enterprises that came in existence were Yahoo, Google, Hotmail etc. Then came the era of Internet commerce, which gave the evolution of enterprises eg Amazon, FlipKart, Snapdeal. With advent of email and internet socialization another set of enterprises evolved e.g. Facebook, Linkedin etc.

Entrepreneurial opportunities also exist due to social thrust and government policy to make something happen e.g. Skill India, Digital India, Smart Cities etc.

Having discussed the process of entrepreneurial opportunities and such successful enterprises, we also need to understand the evolution process of the enterprises. All enterprises must have started with some idea to make things easier and useful. The stages may be defined like this:

  • Ideation

  • Incubation

  • Institutionalization>
Ideation:

Ideation is the process of identification of problem area or improvement area and applies innovation to provide solution. This stage is used for testing feasibility of the idea. Based on testing, prototype is developed and usability of the solution is established. The idea should be evaluated for intellectual property submission.

We at CSI SIG -IE can work in this area by organizing competition for good ideas hand hold them in solution testing and prototype development. We can get assistance from Government schemes for this.

We may work towards providing training and awareness of entrepreneurial opportunities that exist due to emerging technology and emerging socio-political reasons.

We may work for assisting in intellectual property submission and ensuring ideas don't get stolen
Incubation:

Incubation is the stage of assisting entrepreneurs in developing solutions and acquiring few customers and making them to generate cash flow.

At this stage, tested prototype will be developed. Business plan will be prepared and enterprise will be setup and ensuring the availability of resources and funds as required. The resources include office space, machines and required infrastructure.

There are many technology and business incubator. We at CSI SIG-IE can assist new entrepreneurs in selecting the incubator, getting the fund, preparation of business plan and assist them in setting the marketing channel.
Institutionalization:

At this stage, enterprise must have established products and a few customers. The Cash-flow must have established to sustain and make the enterprise profitable. Enterprise come out of incubator and setup own facility. The enterprise needs to work on the new features in products and new markets. The enterprise must look for short term and long term strategy to be competitive enough and growth plans.

We at ,CSI SIG IE, may work with enterprises in advisor role and assist them in defining the strategy and taking it ahead.
Development of Entrepreneurial Eco-system

We at, CSI SIG IE, should discuss entrepreneurial eco system of the country and work as lobby group to ensure friendly environment. Here we need more comparative studies among countries, among states in India, hence we shall seek Academia and researcher assistance in this study.

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