Holistic Entrepreneurial Development with Entrepreneurship Ecosystem in Educational Institutions

Entrepreneurship is one of the key concepts in the modern context which is vital to the economic development of the country. In the current scenarioIndia, is a young nation with almost half of population under 25 years of age(Kedia Suchi, 2018; Jack Ian, 2018). It is imperative to enrich the youths of India with entrepreneurial education to create financially successful entrepreneursfor informed business decisions. In order to foster entrepreneurship, an ecosystem intended to promote and develop entrepreneurial skills among the students of higher education institutions is essential. Various models for entrepreneurship ecosystem have been developed so far, but with the rapidly changing environment new ecosystem model for educational institutions is necessary for promoting and developing the contemporary requisites of entrepreneurship. In this study, we attempt to synthesize and further develop the entrepreneurship ecosystem approach.We have extended the approach for educational institutions and summarized with a framework model. The framework focus areas include: Awareness & Knowledge; Exposure & Activities; Development & Support. Further into above parameters, various elements are structured that foster entrepreneurship development at three levels - Theoretical, Practical and Application.

Author(s): Muazzam Hussain & Sachin Garhwal

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