Innovation around Institutes of Higher Education as the basis of Economic Development through Entrepreneurial Ventures in Developing Nations

Abstract

There has been little research on the importance of higher educational of learning in developing countries like India for initiating real economic growth. Entrepreneurship and innovations through entrepreneurial ventures amongst the academicians and students on a collaborative mode could hold the key towards attaining sustainable development within a short period of time. The Education and Enterprise model (E-E) around institutions of higher learning will seek to leverage the knowledge resources within the local region of influence and thus assist in development of the place. The idea is to create growth through innovation based practices which may lead to tangible and intangible benefits for the entire region. The innovations could be carried out in the entire gamut of EEEH (Education, Environment, Energy and Health) which are considered the necessary pre-requisites for the development of the nation. The paper seeks the throw light on available ways in which the Academia can assist the society in their wider domain of EEEH to create an entrepreneurial ecosystem so as to create innovators and entrepreneurs for the wider dissemination of prosperity. This paper also explores the socially created barriers to business start-up that inhibit the growth of grass-root entrepreneurs and how they may be removed