The following article is based on my own interpretation of the said events. Any material borrowed from published and unpublished sources has been appropriately referenced. I will bear the sole responsibility for anything that is found to have been copied or misappropriated or misrepresented in the following post.
Romit Tembhurne, MBA 2014-16, Vinod Gupta School of Management, IIT Kharagpur
In India people are moving towards entrepreneurship. About 10000 companies are being registered yearly, according to GrowthEnabler, a virtual platform for advising and mentoring for start-ups. About 86% of these companies shut down within a year, as stated in Business Standard on 8th march, 2015. The main reasons for failure are access to capital, mentorship programme, availability for right tools and technology and the lack of knowledge to achieve break-even. GrowthEnabler has entered India to provide guidance to entrepreneurs and to give boost to India’s start-ups growth.
In an article published on 9th march by BS, focuses on women entrepreneurs in India. It states that about 18% of 140000 common service centers (CSC), Village level entrepreneurs (VLE) called by the government, are being run by women. Dinesh Kumar Tyagi, CEO of a CSC told BS that “……according to an independent study, women as VLEs are better compared to men in terms of managing/operating such centers.”
On 14th march, BS published that Indian entrepreneurs are trying to sell their products to US. These are mainly software products. It states that among these entrepreneurs, many were former employees of an MNC working with US and thus they have knowledge of things work there. According to Nasscom, 35% have been working with MNCs and 27% have worked in Indian Firms.