Job vs Entrepreneurship 2024

Job :

A job is any work that is completed under the supervision of the company in exchange for money and other benefits. Career choices for graduates are ambiguous as they can't decide which is the right path for their career. Because of social pressure and family pressures, many graduates are taking the job which is irrelevant to the field of study and rotting in unsatisfactory jobs. But a job is a job whatever the situation, one has to complete the job with discipline and interest. One of the advantages of having a job is   

Advantages of having a job

1. Security: you will have a secured life to lead as you will receive payment for the work every month you completed in time to lead your life.
2. Freedom: every company search for a hardworking employee if you are a hardworking person, you will definitely have the freedom to join in interesting projects in the company  
3.  Benefits: you will be provided with health benefits, travel allowances, house allowances, and a bonus every year for the work you have done for the company and most importantly appraisal for your work.
4. Skills: you will learn new skills in the company be it verbal or any skills which are beneficial for your career 

Entrepreneurship

The eagerness to start a business or venture on your own is called entrepreneurship. Here everything is taken care of by ourselves be it marketing or risk-taking decisions and sharing profits among ourselves.

Advantage of having a business:

1. Be our own boss: As you will  be the only person who takes the decision in the company
2. Profits & Loss: you will be responsible for either a profit or loss-making venture 
3. Recission:  there will be no rescission as you will the employer of your company who recruits other 
4. Freedom: you will have the freedom to do any business without others' opinions. 

Job vs Entrepreneurship

Be it job or entrepreneurship it all works in the interest of the people, some likes to do business and be independent of others, while some require a job to lead a secure life. For Job, you need hard-working nature and for entrepreneurship, you need discipline, research and knowledge of the business.  

Does the corporate world promote entrepreneurship?

Corporate world deals with companies and hence requires entrepreneurs for their businesses. In the Corporate world, give and take policies work as an exchange of technologies and acquisitions.

1. Corporate entrepreneurship means organizations appoint deserving employees who give innovative ideas for developing the business and helps in making profits 
2. Companies even employ entrepreneurs for getting new plans to expand the business and make profits. 
3. Venture capitalists are investing in startups to promote entrepreneurship.  
4.  The Govt of India launched startup schemes to promote the spirit of entrepreneurship.  like Startup India, Standup India encourages entrepreneurs to work on their ideas and contribute to India development.
5. Startups are creating the majority of employment in 2020 when compared to previous years.

Essentials skills to be an entrepreneur

9 skills you need to have as an entrepreneur

1. Curiosity

                   To learn the new adaptation in  the business or venture 

2. Time management

                   To manage the  time and deliver the service or product 

3. Strategic thinking

                    To think for the future outcomes and manage the business according to it

4. Efficiency

                     To work efficiently in making company towards profits 

5. Communication

                     To communicate with the clients and customers in a transparent manner 

6. Networking

                     To reach the business in every corner 

7. Finance

                  Maintaining the  financial state of the company in an effective way

8. Branding

                  Promoting the business using every available medium 

9. Sales

                To be able to sell the products and services to customers 

Tools useful for Entrepreneurs

1) Google Slides 2) Canva 3) Trello 4) Google Trends 5) Mailchimp 6) Google Analytics 7) Boomerang 8) LinkedIn 9) PayPal 10) WordPress 11) Medium 12) Skype 13) AngelList 14) Upwork 15) Calendly

Source: Forbes.com

How a student can be an entrepreneur

By hardworking and patience on the venture, a student wants to start, keep on research until you prepare a model to execute the business, involve technology in your startups. there is no age limit, educational qualifications to start an entrepreneur, a simple idea can fetch you millions if you know to implement and make a business out of it.

Different incubations available in India and each state to promote entrepreneurship

Govt of India:

Under the Atal Innovation Mission, the Government is setting up Atal Incubation Centres (AICs) in the public and private sector as well as scaling up Established Incubation Centres (EICs). 13 AICs have been approved with a grant of INR 10 crore each. A grant-in-aid of INR 10 crore is also being provided to 6 EICs.

Uttar Pradesh:

With the goal of promoting innovation and entrepreneurship, the State government has collaborated with premier institutes like IIT-Kanpur, IIT-BHU, IIM Lucknow (Noida), KNIT Sultanpur to establish Incubators. The country’s biggest Incubator is envisaged to be established in Uttar Pradesh.

The State Government promotes the establishment of Incubators across Uttar Pradesh. It is envisaged that every district in Uttar Pradesh shall have an Incubator. Host Institutes like Government and Private Technical, Management, R&D institutes, organizations / non-profit organization/corporates/industry association or in PPP mode are encouraged to establish Incubators or Accelerators in Uttar Pradesh.

Himachal Pradesh:

The Govt. encourages the establishment of incubators in the existing institutions, such as academic/technical universities (HPU Shimla, CSK HPKV Palampur, Dr YS Parmar University of Forestry and Horticulture Nauni, IHBT Palampur, etc.), engineering institutions (NITs-IITs), technology centres (Toolroom), IIM Paonta Sahib, etc. for help and promote startups and new industries in the State.

Efforts are made to set up incubators in the established private sector in cases where expertise is not available in the Govt. sector, specific thematic parks of industries Dept., other recognized R & D/Technical Institutes/Centre, Development Institutes empanelled by DPIIT.

The Government of Himachal has approved 7 academic institutes to set up incubators across various sectors including IT, Engineering, Food processing, Biotechnology, Agriculture, e-commerce etc.

Gujarat:

Gujarat government has supported the development of iCreate - a technology business incubator working with a vision to create a large quantity of quality entrepreneurs. Another such incubator, Centre for Innovation Incubation and Entrepreneurship (CIIE) at IIM Ahmedabad is actively supported by the State Government.

 iCreate International Centre for Entrepreneurship and Technology – iCreate provides incubation to slightly mature projects. The period of incubation can be up to two years, and iCreate has dedicated a budget of up to Rs 250 lakhs 

iCreate offers labs and workshops to finalize offerings, help Startups take their product/services to live customers to make it market-ready, and also mentor them so that they can build a growth organization and start earning serious revenue.

CIIE - IIM Ahmedabad CIIE is a collective of interventions in the space of innovation-driven entrepreneurship in India. It has its genesis at the Centre for Innovation Incubation and Entrepreneurship ("Centre"), IIM Ahmedabad - an academic center focused on research in innovation and entrepreneurship. CIIE continues to support the research and learning undertaken by the Centre.

It follows a virtual incubation model & it is not necessary for the start-up to be stationed in Ahmedabad. Over the last 5 years, CIIE has supported around 60 alums with a fellowship and another 35 students with an idea validation summer internship.

 Telangana 

The Government of Telangana (GoT) has launched a Technology incubation center (T-hub) at the IIIT-Hyderabad campus in Hyderabad. T-Hub aims to promote entrepreneurship in the State and has a state-of-the-art 70,000 sq. ft. building with the name Catalyst, which operates on a PPP model between the GoT, IIIT-H, ISB & NALSAR and key private sector leaders.

It supports and promotes technological innovations occurring in the Hyderabad Startup ecosystem.

Catalyst also hosts regular talks, networking events, workshops, mentoring sessions and more for the benefit of all its members. It provides early access to new launches, discounts on a host of professional services and special deals for events across the country.

Eligibility: Early-stage Startups with a minimum viable product (MVP) and with some traction in the market can apply.

Andhra Pradesh

The Government of Andhra Pradesh has launched one of the first pilot incubation facilities to promote technology Start-ups in the coastal city of Visakhapatnam. The State Government has constructed Sunrise Incubation Tower, an incubation tower of 50,000 sq. at Vizag to promote Start-ups and innovation culture. The incubator operates on `Bootup-Startup-Scaleup’ model and lends focus on first-generation technocrat entrepreneurs.

Sunrise Startup Factory is an inclusive state-of-the-art Co-Working Space focused on providing mature startups with an ideal atmosphere to enhance productivity and cultivating collaboration. Co-Working Spaces are located in all 4 Incubation Centers at Vizag, Kakinada, Anantapur, Tirupati and will be operational in Amaravati soon. These spaces provide a culturally diverse community that is perfect for entrepreneurs and startups, to innovate and create strong networking opportunities.

Karnataka

GOK NASSCOM 10000 STARTUPS WAREHOUSE: GOK-NASSCOM Startup warehouse is a subsidized co-working space spread across 30,000 sq ft. This facility will help create a very robust ecosystem to support early-stage companies by getting angel investors, VCs and enterprises to play a more active role in Bengaluru and getting more start-ups to succeed.

GOK INCUBATOR FOR TECH START-UPS(GIFTS): The Department of IT, BT and S&T, Govt of Karnataka, has identified a private partner, M/s Springboard Solution Pvt. Ltd as Program Manager (PM) to operate its first incubator operated on a truly PPP mode. This will help all start-ups in AI and deep learning.

GOK-MOBILE 10X START-UP HUB: This hub is set up as a Centre for Apps Excellence for innovation and entrepreneurship in app development. It provides early-stage app Startups and developers with a highly affordable co-working space, training center, testing lab and design center conveniently located in the city. 

BANGALORE BIO INNOVATION: The Bangalore Bio innovation Centre (BBC) is a first-of-its-kind and the largest bio-incubation center in the country and is an initiative of Department of IT, BT and S&T, Government of Karnataka. Nestled between the academic zone comprising Institute of Bioinformatics and Applied Biotechnology (IBAB), Centre for Human Genetics (CHG) and bio-industrial zone, the center aspires to create a seamless value chain connecting ideas to start-ups and ventures. With total funding of 56 crores in building, labs and instrumentation, the facility presently has 50,000 sq. ft. of state-of-the-art incubation and instrumentation equipment. Sixteen top-notch BT start-ups selected through a rigorous selection process are benefiting from the infrastructure.

Karnataka is also setting up a center of excellence for Big Data, AI, Blockchain, and Cybersecurity. The state is clearly poised to be a leader in biotechnology and nano-science.

Chhattisgarh

Government of Chhattisgarh has allocated 30,000 sq. ft. of incubation space in City Centre Mall at Pandri which is to be expanded to 40,000 sq. ft. It has about 300 seats and about 30 meeting spaces, conference rooms, auditorium, etc. The incubation centre will also have Prototyping and development labs, Fablab, IOT lab, Multimedia lab.

The business incubator also helps start-ups and already existing companies to develop by providing services such as fund support, management, mentorship, co-working space, technological assistance or everything that is required for a business to grow. 

Incubator has a well-equipped FABLAB, with separate access. The lab is open to the community at large to enable them to solve unique problems in style. Also, it has top of the line equipment and machines for CAD/CAM/CAE, NC machining, 3-D printing, injection moulding, laser cutting, PCB layout and so on.

More details with regard to incubation support are available at Chhattisgarh Incubation Support.

                               Source: startupindia.gov.in 

Make in India and other central govt schemes to support entrepreneurship

1. Atal Incubation Centre (AIC)
2. NewGEN IEDC
3. MSME Market Development Assistance
4. Women Entrepreneurship Platform (WEP)
5. Self Employment Lending Schemes Credit Line 2 – Micro Financing Scheme
6. Swarojgar Credit Card
7. Venture Capital Scheme for Agri-Business Development
8. Raw Material Assistance scheme
9. Pradhan Mantri Mudra Yojana
10. Sustainable Finance Scheme

Top 10 young entrepreneurs in India 

1. Ritesh Agarwal, CEO of OYO Rooms
2. Vishal Jain, Social Media Marketing Expert and founder of Sunshy Group of Companies
3. Shravan and Sanjay Kumaran,  President and CEO of Go Dimensions
4. Farrhad Acidwalla, Founder of Rockstah Media and CYBERNETIV DIGITAL
5. Sreelakshmi Suresh,  World’s Youngest CEO and World’s Youngest Web Designer, Founder of eDesign
6.  Trishneet Arora, founder and CEO of cybersecurity startup TAC Security Solutions
7. Advait Thakur- CEO and founder of Apex Infosys India
8. Azhar, Deepti, and Anunay-  founders of Inshorts  
9. Tilak Mehta- founder of Papers N Parcels
10.  Akhilendra Sahu-Founder & CEO of ASTNT Technologies Pvt Ltd. & Technical Next Technologies.

Best digital entrepreneurs success stories available at 

1. yourstory.com
2. MyVenture.in
3. Inc42
4. KnowStartup
5. IndianWeb2.com
6. Start-Up Form | ETtech
7. iamwire - A Startup Community for Entrepreneurs and Investors
8. Entrackr

IIMs and Top Indian universities offer the following entrepreneurial programs with bank support

1. XLRI Xavier School of Management - Post Graduate Programme for Certificate in Entrepreneurship Management (PGPCEM) through its Entrepreneurship Development Centre (EDC)
2. SIBM Pune - MBA in Innovation and Entrepreneurship 
3. NMIMS, Mumbai – MBA in Entrepreneurship & Family Business & Part-Time MBA (Social Entrepreneurship) 
4. IIM Bangalore, NSRCEL - Management Programme for Women Entrepreneurs (MPWE), Management Programme for Entrepreneurs and Family Business (MPEFB). 
5. Amity Business School  Noida - MBA in Entrepreneurship
6. Entrepreneurship Development Institute of India -Post Graduate Diploma in Management - Business Entrepreneurship (PGDM-BE).  
7. Nirma University Institute of Management - MBA in Family Business & Entrepreneurship. 
8. NIESBUD -  the Ministry of MSME (Micro, Small and Medium Enterprises) Government of India
9.  S.P. Jain Institute of Management & Research (SPJIMR), Mumbai -Start Your Business Certification Program (SYB), Grow Your Business Certification Program (GYB), 
10. Kautilya Entrepreneurship and Management Institute Jain University Bangalore- Entrepreneurship + Postgraduate Diploma in Enterprise Management.  

Conclusion:

Be it  Job or entrepreneurship both have its own comforts and discomforts one has to face the bad and good situations in the race to excel in the job or business and learn from them. Many schemes are introducing in India to encourage young graduates and everyone should make use of them.