Support Institutions For Entrepreneurship Development

SUPPORT INSTITUTIONS FOR
ENTREPRENEURSHIP
DEVELOPMENT
GROUP 4
Entrepreneurship: Concepts &
Definitions
“Entrepreneurship is the process of creating
something new with value by devoting the
necessary time and effort, assuming the
accompanying financial, psychic, and social
risks, and receiving the resulting rewards of
monetary and personal satisfaction of
independence.”
Entrepreneurship: Concepts &
Definitions
“Entrepreneurship is an act of initiative, drive,

commitment, diligence, perseverance,
organized effort, and achievement outlook, to
undertake some specific functions of performing
productive activities and the capacity to bear
and associated with the investment”.
Entrepreneurial Initiatives in India-
“Top Incubation Center”
1. NABARD : National Agricultural Bank for Rural
Development.
2. SIDBI : Small Industry Development Bank of
India.
3. NIESBUD : National Institute for
Entrepreneurship & Small Business
Development.
4. IFCI : Industrial Finance Corporation of India.
5. NSIC : National Small Industries Corporation
ltd.
6. The SP Jain Centre for Entrepreneurship

Development- SPJIMR
7. Technology Business Incubator (TBI) - BITS
Pilani
8. Technology Incubation and Entrepreneurial
Training Society (TIETS) – IIT Kharagpur
9. Nirma Labs, Nirma University, Ahmedabad
10. Society for Innovation and Entrepreneurship

(SINE)- IIT Bombay
11. Cell for Tech Innovation, Development &

entrepreneurship support- IIT Chennai
12. Society for Innovation and Development (SID) -

IISc, Bangalore
“Government and Non Government Support”
 Delhi Technical University announced the setting up of
water technology and management centre with the
support of UNESCO.
 The Entrepreneurship Development Cell (EDC) of
University School of management Studies, Guru Gobind
Singh Indraprastha University (GGSIPU) has launched a
one month business skill development programme in
association with the Ministry of Micro, Small and
Medium Enterprises. Representatives from KVIC,
NABARD will share their knowledge.
“Government and Non Government Support”
 NASSCOM has signed a Memorandum of
Understanding (MoU) with University Grants
Commission (UGC), for
 Faculty Development Programme (FDP)
 Re-skilling the faculty in IT
 Framework for co-operation to catalyze industry-
academia interface
Small scale industries development
bank of india (SIDBI)
 Established on April 2,1990
 Mission
To empower the Micro, Small and Medium
Enterprises (MSME) sector with a view to
contributing to the process of economic growth
OBJECTIVES OF SIDBI
 Promotion
 Financing
 Development of Industries in the small scale sector

and
 Co-ordinating the functions of other institutions

engaged in similar activities.
FUNCTIONS OF SIDBI
 International Finance
 Direct Finance
 Bills Finance
 Refinance Schemes
THE NATIONAL INSTITUTE
FOR ENTREPRENEURSHIP &
SMALL BUSINESS
DEVELOPMENT (NIESBUD)
 Need for NIESBUD
 Establishment of NIESBUD
 Secretariat of NEDB
Objectives
 To accelerate the process of Entrepreneurship
development
 To support institutions engaged in
Entrepreneurship development
 To evolve standardized processes
 To provide vital information to trainers,
promoters & entrepreneurs
 To provide forums for interaction
Activities
 To organize & conduct training programmes
 To evolve model syllabi
 To co-ordinate training activities of various
institutes
 To affiliate institutes
 To hold examinations & tests
 To conduct workshops
Activities(contd.)
 To publish literature
 To provide forum for interaction
 To assist in setting up of regional & state
level training institutes
 To sustain entrepreneurship
Various training programmes by
NIESBUD
 Trainer’s Training Programmes
 Continuing Education Programmes (sustaining

entrepreneurship)
 Entrepreneurship Development Programmes

-Target specific
-Product oriented
THE NATIONAL BANK FOR
AGRICULTURE AND RURAL
DEVELOPMENT
(NABARD)
NABARD
 Set up on 12th july, 1982.
 Objective is to provide focused and undivided
attention to the development of rural India.
 Mission is to promote sustainable and
equitable agriculture and rural prosperity.
 Coordinating agency at all-India level and
state-level
OPERATIONS
 Provides short-term refinance assistance for
marketing and trading, relating to rural
economy.
 Grants medium-term loans for agriculture and
rural development.
 Provides long-term loans for the purpose of
making investment loans as well as for giving
loans to artisans, SSIs, etc.
SCHEMES
1. Attracting Youth to Rural Non-Farm Sector :
Felt the need to promote highly

labour intensive in rural areas to improve
rural employment.
Formulated schemes like ARWIND,

MAHIMA and DEWTA.
Cont…
2. District Rural Industries Project (DRIP) :
Introduced in 93-94 in collaboration with

Government, banks and other development
agencies.
With the objective of creating sustainable
employment oppurtunities in rural areas.
Cont…
3. Rural Entrepreneurship Development
Programme (REDP) :
Felt the need to develop entrepreneurial skills
of the rural youth.
Launched REDP programme to motivate and
train educated unemployed youth to set up
their own enterprises.
Cont…
4. Marketing :
To help rural artisans and entrepreneurs to get
larger market for their produce through
programmes like Rural Haats,Rural Marts,etc.
5. Rural Innovation Fund :
Constituted “NABARD-SDC Rural Innovation
Fund” to support innovative projects in
Farm,Non-Farm and Micro-Finance sectors.
Industrial Finance Corporation
Of India (IFCI)
Incorporation and Purpose
 Established in 1948
 Transformed into corporation from 21 May

1993 to respond to rapidly changing financial
system
Focus
 Modernization of Indian Industry, Export
Promotion, Import Substitution, Pollution
Control, Energy Conservation.
 Agro based industry, Service Industry, Basic

Industry like iron and steel, fertilizers, cement
are benefited from IFCI
Economic Contribution
 IFCI has catalyzed investments worth Rs.
2,526 billion in the industrial and
infrastructure sectors.
 Employment generated is estimated at almost
1 million persons.
 IFCI has founded and developed prominent
institutions like:
 Management Development Institute (MDI)
 ICRA for credit assessment rating
 Tourism Finance Corporation of India
Functions And Lending Policies
 Manufacture, Shipping, Mining, Generation
of electricity are eligible for financial
assistance.
 Financial Assistance is also available for
setting up new industrial projects, for
expansion, diversification.
 In less developed districts financial assistance
is available on concessional terms
Sources of funds
 Own Capital, retained earnings, repayment of
loans, sale of investments.
 Borrowing from market by issue of bonds,

loan from central Govt., foreign credits.
New Promotional Schemes
 Consultancy fee subsidy scheme
Provide subsidized consultancy services to
industrial units in village and small
industries.
Subsidy for small Entrepreneurs in rural area
Subsidy for pollution control for small

industries in rural area.
 Interest Subsidy Scheme
Subsidy for self development, self employment.
Subsidy for women Entrepreneurs.
Subsidy for encouraging quality control

measures in small scale sector
 Entrepreneurship development Scheme
For encouraging Entrepreneurship in tourism.
Implementation of modernization, Rehabilitation

and revival plans for potentially viable sick
units
NATIONAL SMALL
INSDUSTRIES CORPORATION
LTD.
 INTRODUCTION :
 Set Up by govt. of India

 Objectives for setting up NSIC
 Location
 Provides a complete package of Financial
assistance and supports to the entrepreneur
through its various activities.
VARIOUS ACTIVITIES OF
NSIC
ASSISTANCE BY NSIC TO
ENTREPRENEUR
 Supply of both indigenous and imported
machines on easy hire-purchase terms.
 Marketing of small industries products within
the country.
 Assistance for exports.
 Provides machines, equipment and tools for
commercial production.
 Provide technical training
FACILITIES PROVIDED BY
NSIC
 Supply & Distribution of raw-material.
 Provide assistance in the expansion of
business.
 Providing common facilities through
prototype development & training centres.
Thank You

Support Institutions For Entrepreneurship Development

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SUPPORT INSTITUTIONS FOR

“Entrepreneurship is an act of initiative, drive,

6. The SP Jain Centre for Entrepreneurship

10. Society for Innovation and Entrepreneurship

11. Cell for Tech Innovation, Development &

12. Society for Innovation and Development (SID) -

 Established on April 2,1990

 Development of Industries in the small scale sector

 Co-ordinating the functions of other institutions

 Continuing Education Programmes (sustaining

 Entrepreneurship Development Programmes

Felt the need to promote highly

Formulated schemes like ARWIND,

Introduced in 93-94 in collaboration with

 Transformed into corporation from 21 May

 Agro based industry, Service Industry, Basic

 Borrowing from market by issue of bonds,

Subsidy for small Entrepreneurs in rural area

Subsidy for pollution control for small

Subsidy for women Entrepreneurs.

Subsidy for encouraging quality control

Implementation of modernization, Rehabilitation

 Set Up by govt. of India

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