A Study of Entrepreneurial EcosysteminMaharashtra Industrial Development Corporation (MIDC) with special reference to Kolhapur,Maharashtra

Abstract

Entrepreneurship has been embedded in the Indian genius and is a part of its tradition. Entrepreneurship plays an important role in the economic growth and development of a nation. It is a purposeful activity which helps in initiation, promotion and distribution of wealth and service. An entrepreneur is a critical factor in economic development and an integral part of the socio-economic transformation. According to the renowned economist T.N Srinivasan, ‘India has been an entrepreneurial society, we have the entrepreneurial skill but suppressed it for too long a time and now it is thriving’. The entrepreneurial ecosystem is, the environment that fosters the emergence of new ventures, is an interconnected set of elements comprising risk takers, information brokers, resource providers, demand markets and enabling technologies that act together to form a virtuous cycle of wealth creation (Venkataraman, 2004). India can lead the way to develop global solutions that work on a very large scale. It just needs to put in place the culture, ecosystem and infrastructure needed to release the latent potential of its huge entrepreneurial pool of business people. In turn, India will not only create valuable companies that make shareholders wealthy but will also pave the way for a more just and economically stable life for other third world countries. Given the increasing significance and visible impact of Entrepreneurship in wealth-creation and employment generation this research aims to study the entrepreneurial climate prevailing in Shiroli MIDC. Kolhapur, Maharashtra. The methodology adopted for this exploration includes structured one to one interviews with 60 entrepreneurs and other stakeholders in the entrepreneurial ecosystem in Shiroli industrial areas. A classification of the entrepreneurs interviewed will be done in terms of some key parameters such as sectors, turnover, employment, age, family background, gender and time period. The Study will examine entrepreneurship across a range of parameters to identify and understand the enabling and hindering factors.