New Delhi (India), October 12: India’s government is embarking on a journey to revolutionise education and entrepreneurship through strategic partnerships and policies, recognising the importance of adaptation and innovation in a constantly evolving world.
A three-year partnership between the Ministry of Education, the Ministry of Skill Development and Entrepreneurship and Meta, formerly Facebook, has been formed to transform education and skills in India through the ‘Education to Entrepreneurship’ initiative. Through this program, young individuals will be inspired to turn their educational knowledge into thriving businesses. This collaboration brings together the resources, expertise, and reach of three relevant entities to nurture a new generation of entrepreneurs. Vineet Gupta, Ashoka University Founder, commended this initiative: “This partnership is a significant leap forward in our quest to create a culture of innovation and entrepreneurship in India. It will empower our youth not just to chase degrees but to create opportunities.”
‘Education to Entrepreneurship’ has a critical focus on upskilling young talents with digital skills in today’s technologically advanced world. As a result, students develop an entrepreneurial mindset from an early age by exploring real-world problems and developing solutions. META’s collaborations with the National Institute for Entrepreneurship and Small Business Development (NIESBUD), the Central Board of Secondary Education (CBSE), and the All India Council for Technical Education (AICTE) will provide boundless opportunities for the provision of essential digital skills and the empowerment of micro-entrepreneurs and small businesses. Gupta added, “Education isn’t just about textbooks and exams. It’s about equipping our youth with the skills and mindset needed to navigate the challenges of the modern world.”
Besides its “Education to Entrepreneurship” initiative, the Indian government has been actively promoting entrepreneurship through various programs and schemes. It is these schemes that have shaped the entrepreneurial landscape of the country, providing support, funding, and mentorship to budding entrepreneurs. Some of the relevant initiatives include:
a) Startup India: Launched in 2016, Startup India is a flagship initiative that offers many benefits to startups, including tax exemptions, funding opportunities, a dedicated online platform for registration and compliance and mentorship programs.
b) Skill India: The Skill India initiative, managed by the National Skills Development Corporation of India, focuses on enhancing the employability of the youth by providing them with the necessary skills and training.
c) Atal Innovation Mission: This scheme was set up by Niti Aayog in 2016 to promote innovation and entrepreneurship among students This initiative aims to encourage innovation and entrepreneurship among students by fostering a culture of innovation and creativity. It aims to nurture the innovators of tomorrow.
d) Multiplier Grant Scheme (MGS): Introduced by the Department of Electronics and Information Technology (DeitY), it aims to foster collaborative research and development endeavours within industries, thereby stimulating the expansion of products and services.
e) High Risk and High Reward Research: Through such a scheme, the government seeks to provide backing and encourage daring, innovative concepts that have the potential to generate significant impacts in the field of science and technology.
To foster entrepreneurship, the Indian government has also engaged actively with the private sector. As Minister of State for Electronics & Information Technology and Skill Development & Entrepreneurship, Rajeev Chandrasekhar praised the government’s goal and actions, saying, “In these rapidly changing times, the Government is focusing on preparing our young workforce with the skills it needs to succeed and play an important role in the global economy.” In the rapidly evolving technology landscape, Digital skills will be essential to enable many small rural, micro, and self-employed entrepreneurs to expand, grow, and succeed.”
Through strategic partnerships and initiatives, the Indian government is paving the way for a brighter future in education and entrepreneurship. As Vineet Gupta, Founder of Ashoka University, says, “These initiatives are pathways to a brighter, more entrepreneurial India.” They provide the infrastructure and support needed for budding entrepreneurs to succeed. With the government’s unwavering support, our youth will shape the future into one filled with innovation and enterprise.”
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