Role of Technical Institution in Promoting Rural Entrepreneurship: A Case Study of District Sangrur Punjab

Abstract

With innovation in driving seat in Knowledge Economy today institutions of higher learning are at the stage of economic development. Higher Education Institutions are not only source of providing qualified manpower for the current global job markets but are also sowing the seeds for new enterprises in the emerging areas of the economy. With global competition and the increasing use of technology; Entrepreneurship in rural areas is the emerging issue at present. The success of an entrepreneur depends up on the number of factors as quality, caliber and character of the people at work in it. An entrepreneurship has been recognized as an essential postulate of economic development in rural areas. Rural Entrepreneurship development should be viewed in a wider perspective involving the Government, entrepreneur, financial institutions and technical institutions particularly. Development cannot take place without active cooperation and coordination among these four factors. The vast human resources that constitute the rural poor is in fact an asset, but has been a main cause of concern owing to low growth of rural entrepreneurship and poverty. The focus is on employment generation with emphasis on rural areas and to generate income through wage and self-employment. Even many institutions, patents, technology transfer; are revenue sources other than the government. Their new role of cultivating the spirit of entrepreneurship and contribution towards society and nation is being recognized and appreciated widely. More so, some of institutions have also started functioning in entrepreneurial style and utilizing their hitherto untapped resources which include expertise, know-how and facilities to their full potential.