Entrepreneurial ecosystem a study of entrepreneurship in odisha

Abstract

newlineThe study aims at Odisha an Indian State and present findings on the characteristics newlinethat influence interactions and interrelations in its ecosystems. Odisha has opportunities and newlineits immense potential for employment generation in the MSME segment stand up to a few newlinedifficulties. They encounter issues at start-up of their task, whether it is acquisition of raw newlinematerials, production of procedures, showcasing of merchandise or raising of money newlineincluding empowering foundation etc. A portion of the difficulties MSMEs face have been newlineexamined i.e., expense of credit, restricted access to value capital, issues in getting newlineclearances in government divisions (as many as 36 clearances as per our preliminary newlinestudies), acquirement of crude materials at a competitive cost, low innovation levels and newlineabsence of access to present day innovation, services, support system, marketing, newlineassembling of procedures, promoting of merchandise or raising of money including newlineempowering framework. Therefore, the need of the day is to create an environment where newlineentrepreneurs can prosper and grow through better access to finance, support new business newlineand easier business transfers. As, entrepreneurship may be defined as a dynamic process, newlinewhere the entrepreneur plays an important role in converting the innovation, finance and newlinebusiness into a required economic good. It is very important to understand the underlying newlinefactors affecting the entrepreneurship the MSME area, the entrepreneurs background newline(educational qualification/training) and finance goes hand-in-hand. Lack of entrepreneurial newlineculture, supportive and encouraging environment from the Government and credit facilities newlinehave killed the sprouting ideas on entrepreneurship amongst the youth (Blanchflower and newlineOswald, 2007). So, the objective is to study the socio-economic background of the newlineentrepreneurs in the State of Odisha; and to study the perception of entrepreneurs on the newlineefficacy and role played by the market, human capital, finance, mentors, incubation centers, newlineeducation and training, infrastructure and regulatory policies in the growth and development newlineof entrepreneurship in the Odisha. The methodology adopted is mostly based on the newlineprimary data from the survey is conducted in Odisha. The study is an exploratory type newlinebased on field survey. For primary source, 135 CEO s were randomly selected from the newlinedifferent districts having an enterprise in Indian state of Odisha and were interviewed newlinepersonally (face to face and through e-mail) with the help of a structured questionnaire newlinevii newlineusing a language of their choice (English or local language Odia). A prior appointment was newlinetaken from their respective offices as consent for the data collection and with their newlineavailability the survey was done. Respondents/entrepreneurs were from different segments newlinewhile determining the sample size; geographical location was the place of considered for