Economic liberalisation in 1991 triggered a spurt of entrepreneurial activities in the country, once it was freed from the shackles of the licence-quota raj. It became easier to raise capital through the stockmarkets and there was an influx of investment from venture capitalists. The rise of the services sector and the internet meant that people could start businesses with lower capital and reach the customers more easily.
Institutions of higher education, particularly the business schools, became a breeding ground for entrepreneurs. There was a lot of buzz regarding business creation, yet very few became entrepreneurs. Among them, many did so if they could not find a job that matched their education, skill and experience. Only a few campuses made serious efforts to promote entrepreneurship as an alternative to well-paying jobs…Read more.
Author: Professor Kavil Ramachandran, Executive Director and Nupur Pavan Bang, Associate Director at the Thomas Schmidheiny Centre for Family Enterprise at ISB.
Source: This article is extracted from Outlook India dated October 02, 2017.