Indian Entrepreneurial Ecosystem: A Study
Keywords:
Entrepreneurship, Ecosystem, Entrepreneurial Ecosystem, Components of the Entrepreneurial EcosystemAbstract
Entrepreneurship does not exist in a vacuum (Moore, 1993). A business unit to start and survive in an economy is dependent upon certain elements/factors operating in the environment concerned. ‘Environment of entrepreneurship’ is referred to here as the Entrepreneurial Ecosystem (EE). An extensive study of literature indicates Finance, Human Capital, Incubators and Accelerators, Regulatory framework (including Infrastructure) and Culture as the most essential components of an environmental ecosystem. Developing and maintaining a strong entrepreneurship ecosystem is a priority for any government. This is truer for a developing nation like India with a population of around 1.38 billion with nearly 40 per cent aged 13 to 35 years (youth) standing on the verge of starting employment. However, the unemployment rate of India is standing at 8.30 per cent in September 2022. In the absence of ample job opportunities, encouraging entrepreneurship is the only way out for steady economic growth. In this context, our study revolves around understanding and evaluating the components of the entrepreneurial ecosystem in the Indian context.
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