Abstract:
In the recent era of complex economic environment, entrepreneurship and
innovation are fast emerging as critical transformational drivers in establishing
a new megatrend of economic growth with its capacity to reshape the economy
globally. To date, not much literature is available on how the role of
entrepreneurship is a crucial driver of China's economic growth and how the
essence of entrepreneurship in this sense may vary between India and China.
Hence, the present study carries out a comparative analysis of India and China's
entrepreneurial ecosystem based on fourteen parameters under the Global
Entrepreneurship Index (GEI), an annual economic activity index provided by
US-based GEDI (Global Entrepreneurship and Development Institute).
Correlation analysis to test the relation between the mean scores of all fourteen
entrepreneurial ecosystem parameters with the total number of new firms
established after the Startup India initiative from 2015-2018 was conducted. The
findings of this paper show that the overall growth of entrepreneurship is higher
in China than in India. India needs to concentrate on value development,
empower its young entrepreneurs, and build tolerance for entrepreneurial loss.
Recommendations for the same have been provided to ensure that the startup
movement should be inclusive. Finally, the study offers valuable insights into the
entrepreneurial ecosystem and poses further concerns that require more
reflection and exploration for professionals, scholars, and policymakers.
Description:
Fourteenth Biennial Conference on Entrepreneurship/ Edited by Rajeev Sharma, Sunil Shukla, Amit Kumar Dwivedi & Ganapathi Batthini
