BANGALORE: Budding campus entrepreneurs from Tier-2 and Tier-3 cities are giving stiff competition to their counterparts from top metros. They are cultivating start-ups and business ideas, despite unfriendly government policies that often test their managerial skills to the brink.
However, lack of funds from angel investors poses a serious problem for these early-stage entrepreneurs.
“There is a steep rise in the number of student entrepreneurs from Tier-2 and Tier-3 towns in the country,” said K Srikrishna, executive director, National Entrepreneurship Network (NEN). He added, “There’s little money available from angel investors as there are far too many such deals in the market today.”
NEN’s advisory board, which consists of over 550 member institutions and aims to drive the entrepreneurship culture in campuses and supports start-ups and early-stage entrepreneurs, met in Bangalore on Friday and discussed several issues, including curriculum planning, faculty development for upcoming entrepreneurs across the country.
According to experts, the country needs to create 10 million jobs in the next decade, and based on global trends, innovation-driven entrepreneurship is one of the ways forward. However, there are many problems that youngsters face in their entrepreneurial quest in the fields of sales and marketing, hiring right talent, finding funding and relevant skill sets.
Srikrishna said entrepreneurships need to be driven by innovation or they stand a chance to lose out on business front. “Most college businesses are in the fields of web designing/IT consulting, food, book exchange or customized shoes and apparels. Innovation needn’t be life changing but can be in the aspects of packaging and marketing. While youngsters talk about it, many don’t know how to go about it,” he told TOI.