An
entrepreneurship development program or EDPs is a program which is usually organized
by the government of India from time to time to enlighten young professionals or
individuals.
The
aim of the EDPs is to provide information around all aspects of
entrepreneurship and business-related programs.
The
programs are conducted to encourage self-employment in the younger generation.
These
programs are primarily conducted by reputed organizations in ITIs, polytechnic
and other technical institutions.
EDPs
as such is not considered as training program. Instead, EDPs are a
well-structured process to help with the transformation of an individual into
an entrepreneur.
In
addition to teaching attendees the steps to becoming an entrepreneur, the
programs also cover specific topics like how to start a business, how to raise
fund from government schemes, etc.
Most
importantly, the programs teach effective ways to help the aspiring
entrepreneurs’ tricks and steps to be successful entrepreneurs.
Some
of the key areas covered in EDP schemes are:
• Educate and train potential individuals
about entrepreneurship
• Connect entrepreneurs to various mentors,
peers, and incubators, etc.
• Support entrepreneurs via E-Hubs
• Share entrepreneurship culture to encourage
entrepreneurship
• Promote Entrepreneurship across women and
help them educate with various aspects of EDPs.
• Promote social entrepreneurship and
grassroots innovations
Why
India Needs EDPs?
India,
the biggest democracy in the world got its freedom from Britain on 15th Aug.
1947. Freedom came with its own set of challenges.
One
of the major one being the lack of economic freedom.
Until
1950. Unemployment and poverty were the biggest challenges.
The
GOI decided to take a holistic approach in the form of planned development.
One specific area identified during this time was – lack of business ownership
opportunities. It is common sense that businesses lead to employment and gives a
major boost to any economy (growing or developed).
By the early 1960s. Policymakers had identified and started small scale business
programs to facilitate growth and tackle this situation.
The
programs showed promise and led to a lot of entrepreneurs starting small and
medium enterprises.
The success of these programs was a much-needed shot in the arm for our government.
They used the tried and tested program model to set up a model.
A
model which was created to encourage entrepreneurship. This modeled to the
birth of EDPs- A program which will go a long way in helping entrepreneurs get
trained to challenge of starting and running businesses.
Types
of EDPs:
EDPs
can be classified into the following types:
• Entrepreneurship Awareness Training Program
• Product Oriented EDPs
• Target Oriented EDPs
• EDPs for existing entrepreneurs
Problems
faced By EDPs:
What
is a program without its own set of challenges. As per the last report; EDPs have
had their share of problems. Some of them being:
• Trainers are not fully motivated to help
entrepreneurs start their own businesses.
• ED Organizations are not sincere in
conducting the EDPs and lacks in various aspects. Some of them have turned EDPs
into cash cows where the sole focus has been generating income than providing
value addition to the students to who come to attend the program.
• Indifferent and apathetic attitude of
supporting organizations such as banks and financial institutions without whom
EDP cannot be successful has become another roadblock for EDPs.
• The selection of unprofessional and wrong
trainees for the sake of just generating revenue and taking advantage of
government schemes has also become a big issue in the failure of EDPs.
Phases
of EDPs:
Pre-training phase –
•To
develop motivation so that they can start their own business.
•Is
the person mentally prepared to take any risks and responsibilities?
•Does
the person have the right attitude?
•What
kind of entrepreneurial skills and traits does trainee lack the most?
•Whether
the trainee possesses the desired knowledge of the terminology or technology?
•Guidance
and Monitoring phase.
•Practical exposure, preparation of project
report.
•
Understanding buying and consumer behavior.
Post-training
phase -
•The
ultimate objective is to ready the individual to start entrepreneurship.
•Following
up with everything he/she learned.
•To
see how far the objectives have been achieved by the individual.
•Is
there are any drawbacks in an individual?
•Suggesting guidelines about policies and new
strategies and update the individual with all helpful resources.
•Assistance in selection location of the unit.
•Helping
trainees to connect with the financial institutions.
Evaluation
of EDP:
•To
review the first three phases.
•To
help simplify the process of borrowing money from the Institutions, peoples,
and industries to start the venture.
Some
Helpful resources to get you started with EDPs in India:
Conclusion:
India is a growing country with a lot
of potential and growth prospects.
Unfortunately, lack of resources for
individuals who want to get into Entrepreneurship is stopping the growth of
entrepreneurs.
Many of them quit due to lack of
knowledge and fear of failure.
EDPs are the best form of training
that can help them turn their dream into reality.
Entrepreneurship must be spread in the
country through EDPs which for sure will lead to Increase of SMEs in the
country. Thereby, increasing jobs and helping grow the economy meaningfully.
The time has come for the government to
critically evaluate the existing macroeconomic policies and their impact on
grassroots entrepreneurship development.
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