A new Technology Business Incubator (TBI) of the famous Entrepreneur Development Institute of India (EDII) is all set launch, known as the Centre for Advancing and Launching Enterprises (CrAdLE), to support entrepreneurs in getting their new businesses started. The ambitious plan aims to work with about 40 startups in a course of three years. Each of these budding companies would be expected to create 100 jobs each, thereby creating over 4000 jobs in all.
CrAdLE will have Infosys co-founder Kris Gopalakrishnan as its first chairman of its advisory committee. The board would comprise of seasoned entrepreneurs, technologists, venture capitalists, academicians and other professionals from the specific domains that the centre aims at promoting. Businesses will therefore benefit immensely from specialized knowledge and the right technological support for smart organization, communication and selling. In addition, enterprises incubating in CrAdLE will go through review parameters to give them an exact measure of growth they have witnessed in various stages.
CrAdLE will be set up at EDII’s Ahmedabad campus, and a space of 10,000 square feet has been marked for the same. The centre should be up and about in a matter of a few weeks now. Its main focus, as of now, is to help nourish businesses in four sectors: manufacturing, healthcare, renewable energy and food and agriculture.
Gujarat is recognized to have a sizeable number of naturally entrepreneurial people and Ahmadabad shows fine signs of becoming India’s next start-up hub particularly in the non-IT sectors. With the right institutional support, businesses started here can thrive not only in India but in international markets as well. Gopalakrishnan believes EDII’s TDI to be an excellent resource for entrepreneurs, especially at this point of time when there is a most conducive climate of encouragement to new enterprises coming from the PM himself.
Besides facilitating the essential hand-holding to companies in their nascent stages towards a seamless commercialization of ideas, knowledge and technologies, CrAdLE will also provide assistance in legal, financial and technical matters. Moreover, all entrepreneurs who are part of the program will have access to additional sources of funding besides a fund of Rs. 10 crore from the DST for 5 years.
EDII in association with DIPP and CII conducted panel discussion on Start-up India
Start-up India campaign, launched by Honorable Prime Minister Shri Narendra Modi has created nationwide buzz. The youngsters are stimulated to come up with innovative business ideas and establish their own enterprises. With a view to analyse the scheme and spread awareness about it, the institute in association with the Department of Industrial Policy and Promotion (DIPP), Govt. of India and Confederation of Indian Industry (CII) organized a Panel Discussion and Live Streaming of the launch of Start-up India on 16th January.
The Members on the panel were Dr. Chandan Chatterjee, Director, Centre for Entrepreneurship Development, Gujarat; Mr. S. B. Dangayach, Chairman and Managing Director, Sintex Industries Ltd.; Mr. Manasvi Thapar, Founder, Candour Legal and Dr. Sunil Shukla, Director, EDII. The panelists gave insights into issues such as; understanding start-ups, taxation, FDI in key sectors, incubation centres for start-ups, single –window clearance system, benefits for rural India from the Policy and other critical aspects related to setting up and sustaining businesses.
Director of the Institute, Dr. Sunil Shukla expressed his views on Startup India by saying, “This new policy could act as a game changer. I am sure it will promote innovative ideas and add value to society. It is high time that the effort be made collective – the institutions, corporate and government must join hands to create an eco-system which is conducive for start-up germination.”
Eminent Panelist Mr. S.B Dangayach stressed on importance of incubators in cultivating start-up culture in India. He said, “Startup Incubators are important to create an environ where pre-ideas are incubated, technological solutions are applied, prototypes are created, markets and networks are established and products are successfully produced. Incubators will ensure support of domain experts, academic institutions, known entrepreneurs and professionals, thus making it simple for the entrepreneur.”
Government has launched similar initiatives in the past to facilitate first generation entrepreneurs but somehow they did not meet glorious success. Dr. Chandan Chatterjee, Director of Centre for Entrepreneurship Development, Government of Gujarat said, “I would urge all would-be entrepreneurs not to get discouraged by hassles by viewing things from the outside, but to take the plunge after a preliminary scanning and after chalking about a level wise target. Only when they face the first level, will they get ready for the second. I can see an amiable environment setting in, where one step will automatically lead to the other.”
Founder of Candour Legal Mr. Manasvi Thapar put emphasis on single window system with reduced complexities in licenses and taxes to trigger start-up culture. He further said that corporate must also adopt a start-up to increase its chances of success. The panelists were hopeful that Start-up India will bring a change in the mindset about entrepreneurship in India. With several changes in Government policies, it will also fasten growth of start-ups in the country.
The participants learned about techniques to crack job interviews. The one-month training prepared participants for employment. It focused on developing skills in English speaking and computer using capacity of the participants. The programme also aimed to develop self-confidence among participants. Contented with the outcome of the programme, the Programme Director Mr. V.S Sukumaran said, “All the participants were placed for internship in different government institutions after completion of classroom training. The results are indeed heartening.”[Top]
Empresario 2016 asserted that there is no looking back for start-ups now
Indian start-ups received funding of Rs. 50,000 crore last year and the number is growing with each passing day. After US and U.K, maximum numbers of start-ups are emerging from India. Even Chinese investors have invested 3 million to 7 million dollars in Indian startups during last few months. Govt. of India and the state government are introducing start-up friendly policies. The start-up wave is taking our nation by storm and Empresario, an inter-collegiate entrepreneurship fest held on 26th and 27th February at EDII campus asserted that there is no looking back now.
The institute in association with Gujarat CSR Authority and Gujarat Seeds Corporation Ltd. held Empresario-2016, a state wide start-up hunt in the month of February. In order to shortlist ideas for the final round, boot camps were held at 10 different locations of Gujarat including Ahmedabad, Gandhinagar, Rajkot, Surat, Baroda, Mehsana and Anand. The final round of Empresario-2016 was held at the institute on 26th and 27th February. From every nook and corner of the state, 135 start-up ideas were submitted out of which 30 ideas were selected for the final round. Out of these, 17 ideas were shortlisted for fund of Rs. 40,000 under the sponsorship of GCSRA for developing a prototype. Most of them belonged to Agribusiness, renewable energy, art, craft and digital initiative. The finale of Empresario was accompanied by a start-up fair at EDII campus in which 50 start-up ideas were displayed.
While inaugurating the start-up fair, the Chief Guest Shri Sanjay Prasad, IAS, Principal Secretary of Labour and Employment Department, Govt. of Gujarat said, “There is a start-up surge in the country. Entrepreneurs are becoming more ambitious and investors are getting bolder. Most importantly the consumers are more receptive than ever to these new local offerings. We are now seeing more acceptances from India’s market.”
As a nodal institute, Entrepreneurship Development Institute of India (EDII) will invite and motivate innovators for innovation and will allow innovators to utilize facilities available in the institute. The institute will also provide mentorship to potential start-ups.
The Director, Dr. Sunil Shukla also said that, “The culture of entrepreneurship was never this inspiring and motivating before inside and outside of EDII. I am glad that EDII is contributing to the state and country’s ‘Start-up Movement’ and has taken an initiative to organize such Start-up fair.”
Shri Sunil Shah, the Chairman of All Gujarat Innovation Society and Shri Sunil Parekh, Corporate Advisor of Zydus Group marked their eminent presence at the inauguration of the start-up fair.
According to a survey, the failure rate in start-ups is as high as 70 percent and 66 percent entrepreneurs go back to their salaried jobs. Shri Parekh said, “Start-ups fail because they develop products for which there is no market and thus cannot connect to the customers. Another reason for failure is they run out of fund and they are not good at money planning. Third one is they do not develop right team.” He asserted that innovative ways of delivering solutions are much needed.
Remarking one of the chief reasons of failure, Shri Sunil Shah, the Chairman of All Gujarat Innovation Society said that, “Start-ups begin with great idea but couple of months later they are confused and thus lose their way. Start-ups should always confine to their core ideas and it will work.” He suggested entrepreneurs to rethink every time, “What are we into?”
A survey conducted on 4000 startups suggests that the biggest concern start-ups are facing is existing tax laws and complicated system of regulatory compliance. Apart from that, access to fund for developing idea is difficult for start-ups in India. But the experts suggested that Government at both Central and State level is promoting start-ups and is coming up with entrepreneur friendly start-up policies which will increase ease of doing business.
EDII Ranked 45 across India and 3rd in Gujarat by NIRF
As per the National Institutional Ranking Framework (NIRF) evolved by the Ministry of Human Resource Development (MHRD), Government of India, Entrepreneurship Development Institute of India (EDII), Gandhinagar, ranked 45th (overall rank) among India’s top 50 National Management Institutions. In all 3500 plus ranking applications were received by NIRF, of which 609 were from the Management domain. EDII stood at 3rd position among Management Institutes in Gujarat. Moreover, EDII was ranked 30th for its Research and Professional Practices (RPC) and scored 73.95 for the same. All participating Institutes were ranked on basis of five broad parameters ‘Teaching, Learning and Resources’ (TLR), ‘Research and Professional Practices’ (RPC), ‘Graduation Outcomes’ (GO), ‘Outreach and Inclusivity’ (OI), and ‘Perception’ (P).
Expert Committee Constituted by AICTE for Preparing Start-up Policy
Dr. Sunil Shukla, Director, EDII has been appointed as a member on the special committee constituted by AICTE (All India Council for Technical Education) for preparing start-up policy for students of technical institutions. National Policy for Skill Development and Entrepreneurship 2015 has emphasized upon the need for entrepreneurship education in 3000 colleges. In line with it, AICTE has constituted a five-member committee of experts to prepare start-up policy for students of technical institutions in the country.[Top]
The EDII or Entrepreneurship Development Institute of India is a not-for-profit institution and an autonomous body. Due to its excellence in the field of entrepreneurship and its contribution to the Start-up India programme, it has been declared as the nodal institute for start-ups by the Gujarat state government.
In its role as nodal institute for start-ups, the EDII will provide the required guidance and counselling sessions to entrepreneurs who are thinking of establishing their own companies. EDII’s pro entrepreneurship schemes vastly benefit those who want to innovate and experiment in the fields of biotechnology, manufacturing, plastics, agri-business, chemicals, and food processing.
EDII: A Class Apart
The Entrepreneurship Development Institute of India was established with a particular vision in mind which is to become a reputed national resource institution involved in research, training, institution building and entrepreneurship education.
The main aim of this institution is to send out smart, competent, logical and creative thinkers who will introduce fresh ideas into the entrepreneurial world along with young talent and deeply rooted ethics and morals. The EDII also has a duty towards overseeing the growth and development of small and medium enterprises (SMEs) and ensuring that they grow into the major corporations of tomorrow. The EDII provides institution building and research, management education and training.
Achievements of EDII
• A huge number of 1286 students who have graduated from PGPs.
• A large group of 12770 learners who are registered for Open Learning Programme.
• The institute has imbibed the entrepreneurial spirit in around 1090 youth and 1895 children.
• A large number of 12,900 students who are pursuing entrepreneurship.
• A total of 920 students from JGI, Bangalore who have pursued EDII’s course at graduate and post-graduate levels.
• EDII has around 4.5 lakh students who are interested in entrepreneurship and the institute has organised close to 6000 entrepreneurship awareness programmes.
Courses Offered at EDII
There are two post-graduate programmes available at the EDII. One of them is PGDM-BE and the other is PGDM-DS.
• PGDM-BE: The Post Graduate Diploma in Management- Business Entrepreneurship was specially designed to enable students to set up their own businesses and provide them with the necessary skills, knowledge and talent to expand and diversify their business enterprises. This course is also very helpful for those who are expected to take over their family business someday.
• PGDM-DS: The Post Graduate Diploma in Management- Development Studies is one of the flagship courses of the EDII and was specially created to provide students with proper analytical and conceptual skills needed for managers of tomorrow. Developing entrepreneurial solutions to poverty and low level of livelihood is also a part of the academic programme. This management programme also helps people to think of new initiatives for corporate social responsibility (CSR projects) and to help build up the economy through entrepreneurship.[Top]
A boom in startups has hit the business sector recently compelling people to acknowledge that startups are truly a force to reckon with. Thanks to a favorable market condition and access to technology that aids its progress, it is largely being accepted that these startups are not just a passing trend but a major boost to the economy. And, EDI – The Entrepreneurship Development Institute of India in Ahmedabad is proud to be the nurturing ground for aspiring entrepreneurs who wish to carve their own success story in the business world.
Why is there a Need for Startups?
It is due to the emergence of startups and other small, fast-growing companies that the level of unemployment remain under check. Startups also help keep large businesses on their toes by exerting a certain amount of pressure on them and by fueling a spirit of tough competition.
Startups are always keeping with technological demands and thus are able to produce goods or services much faster and more efficiently than a normal company would. This helps in streamlining businesses and encourages a certain amount of competition in the markets so that everyone keeps working to better their services thereby providing customers with cheaper and more efficient services.
How Can Startups Contribute to the Society and Country?
Startups usually take in individuals who are multi-taskers. Thus by taking on thousands of freelancers and trained graduates, startups are making a very favorable dent in the unemployment rates of the country. Since startups are locally born, they usually make use of local resources, products, hire local employees and also engage themselves in local activities and events thereby injecting a lot of capital into the local economy.
Due to the increased innovation and economic growth that startups facilitate for the society or the economy at large, as they begin to expand, the need for startups is evident. Thankfully, transition in the business world is encouraging investors to put their money into these smaller companies.
Statistics show that a majority of startups do not last for more than 3 years, but every time they fail, some valuable knowledge is acquired from the process. However, since the goal is always to succeed, you need to get familiar with the various aspects of establishing a startup before you just go out there and do it. This is where EDI’s program can help you out.
Post Graduate Diploma in Management – Business Entrepreneurship
At Entrepreneurship Development Institute of India (EDI), we have a course that is designed to provide students with practical insights into the market world. With a staff of experienced teachers, this two year residential program will teach you about the different strategies and techniques that can be adopted to understand the market better. By encouraging you to think and analyze more critically, we will help nurture your entrepreneurial ambitions so that you can go begin your own startup.
The syllabus that we work with is designed to give you a relevant and practical learning experience when it comes to the world of business. By covering every aspect that will help you when you decide to launch a startup, there is nothing that you will be unprepared for. Apart from our PGDM- BE program we also have a range of other courses that can help increase your entrepreneurial knowledge.
So come to EDI and enjoy the opportunity to learn all there is to know about launching your own startup. By facilitating interactions between students and business icons, EDI is the perfect launch pad for you to go ahead and make your startup a success.