Promoting Global Entrepreneurship in India

It's a known fact that India is an emerging economy destined to achieve milestones in various fields. We need to create 100 million jobs, as per certain statistics, so as to become a “developed” country!

How can our industry possibly create 100 million jobs? And the million-dollar question is which industry will absorb people and bridge the employment gap?

Can we find a solution to this problem? We definitely can! You ask how?

Well go the entrepreneurship way! Several organizations, like the MIDAS institute

in Pune, understand the importance of entrepreneurs and the ways in which they

can create jobs for the unemployed. These institutes are promoting global youth

entrepreneurship programs to eventually accelerate economic growth.

Young Entrepreneurs: Partners in Growth

India has almost 300 million youth, but only 100 million jobs. Look at the

employment gap blatantly showing the need for more entrepreneurs, new

businesses and job opportunities.

We all need to believe in the entrepreneurial spirit of India's youth. However, for

strong entrepreneurs to emerge in the market, appropriate entrepreneurship

training, the right framework, funding and mentoring needs to be provided. Many

institutes like MIDAS run great global entrepreneurship programs for youth. The

programs are structured to maximize the chances of success among young

entrepreneurs and ensure that entrepreneurs have strong mentoring and training

to succeed in their business ventures.

Youth entrepreneurship programs need to aim to nurture innovative thinking in

small enterprises and support them with the financial resources to transform

those ideas. Such programmes need to foster an entrepreneurial environment

that will help small businesses contribute to India's overall economic

development.

It is imperative that institutes running global entrepreneurship programs relook at

their methodology of teaching to train the youth in something as niche as

entrepreneurship. Rote learning needs to chucked for good. Experiential learning

involving mock running of one’s new business, analyzing the global business

trends, interacting with one’s counterparts abroad, creating strong business plans

to attract investors and gain funding are just a few things that a good

entrepreneurship course ought to involve.

One such course is the 11-month global entrepreneurship program being run by

MIDAS. This program entails entrepreneurship training by industry experts and

involves global exposure through the institute’s two incubation centers abroad:

one in Spain and one in China. Students get to meet their counterparts, flesh out

their business plans based on the insights from the global market, meet industry

people from abroad running similar businesses etc. All this helps these students

become strong young entrepreneurs. Such youth entrepreneurship programs are

the need of the hour, so as to increase the economic growth of our nation.