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Entrepreneurship Development Institute to Tie up with Colleges

The State government is in the process of revamping Entrepreneurship Development Institute ( EDI ), Chennai to motivate and train young entrepreneurs, said T.S. Sridhar, Principal Secretary, Micro, Small and Medium Enterprises ( MSMEs ) on September 14, 2011.

Delivering the inaugural address at a seminar on ‘MSME financing: challenges and opportunities’ organised by the Federation of Indian Chambers of Commerce and Industry ( FICCI ), he said that they would be following the Gujarat model. Apart from partnering with colleges and technical institutes, EDI would tie – up with schools and set up incubation centres in colleges over the next three months.

[rupee]  4 crore set aside

According to Mr. Sridhar, about [rupee] 4 crore has been set aside as capital investment for setting up of modern training complex with smart class rooms, a library, a computer centre, an auditorium and hostel facilities; and [rupee] 1 crore as recurring grant towards training expenses and paying honorarium among other things.

Established in 2001 for creating an apparatus for catering to the needs of small scale industries, EDI had trained over 46,500 candidates through the Prime Minister’s Employment Generation Programme ( PMEGP ) and Unemployed Youth Employment Generation Programme ( UYEGP ).

EDI is in the process of recruiting faculty, joining hands with training institutions and colleges to introduce new vocational training courses.

Mentioning that their aim was to help the entrepreneurs, he said EDI would study the skill gap in various sectors and provide training to candidates accordingly and plans are on to strengthen Tamil Nadu Industrial Co – operative Bank. The bank has been asked to focus on industrial sector than co – operative sector.

N.S. Vishwanathan, Regional Director of Reserve Bank of India, Chennai, said that they were closely monitoring the credit outflow of banks to MSMEs.

Shortage of Finance

M. Rafeeque Ahmed, Chairman of FICCI Tamil Nadu State Council, said that MSMEs were affected by huge shortage of finance to meet their working capital needs. Availability of finance at right cost was the need of the hour.

Sanjay Bhatia, Chairman of FICCI MSME Committee, said that banks, financial institutions and MSMEs should come out with innovative ideas to reduce financial gap that existed on September 15, 2011.

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Entrepreneurship is the only way to tackle Unemployment

Emergence of global business opportunities in the post – reforms era requires an indomitable spirit of entrepreneurship, according to Leo Ananth, past chairman of CII, Tiruchi Zone.

Entrepreneurship is the practice of starting new organisations or revitalising mature organisations, particularly new businesses generally in response to identified opportunities, involving mobilisation of resources from one level of productive use to a higher level of use, he said, addressing the valediction of ‘Be an Entrepreneur’ the month – long flagship programme of Entrepreneurship Development Institute (EDI), government of Tamil Nadu, in partnership with CII, at the St. Joseph’s College.

Entrepreneurship involves a willingness to take responsibility and ability to take the task from inception to completion, and sensing opportunities.

Essence of entrepreneurship is going against time with maturity and serving as a change agent.

In the backdrop of widespread concern that acceleration in GDP growth has not brought about commensurate increase in employment, there was tremendous scope for entrepreneurship development in the country, Mr. Leo said.

Acceleration of entrepreneurial activities was the only solution to tackle growing frustration among unemployed youth and underemployment. Within the next 20 years, India will have 400 million people below the age of 35 years.

The Planning Commission seeking to generate employment opportunities for 10 crore people over the next 10 years has strongly recommended self – employment utilizing the technical and knowledge base.

There was a need for youth to muster courage and take the plunge, he emphasised.

Dynamic transformations

The various schemes and programs implemented by the Centre and State government to nurture entrepreneurship over the decades have brought about a positive influence.

Various Chambers of Commerce and apex institutions have started organising seminars and workshops to promote entrepreneurship.

Technological upheavals in quick succession will be accompanied by slow but dynamic transformations in social value systems and cultural issues, said Mr. Leo.

Stephen David, General Manager, EDI, delivered the key note address, and Parivallal, Director, The Training People, the special address. Manavalan and Kumar, The Training People, also addressed the prospective entrepreneurs.

On 28th March, 2011, the participants in 11 teams displayed their various business models, products and services to the visitors during the mock investment round inaugurated by R.Kanagasabapathi, Vice – President, Tiruchi District Tiny and Small Scale Industries’ Association.

Products ranged from specialized automobile service to innovative FMCG (Fast Moving Consumer Goods) like herbal mosquito coil, medicated packaged drinking water, and cosmetics and confectionaries.

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30-day training programme for SC graduates

In a bid to rope in young and educated graduates / diploma holders mainly from Scheduled Castes and others, the State – run Entrepreneurship Development Institute (EDI) has planned to impart a month – long training – cum – exposure on entrepreneurship programme.

Addressing members of the SC / ST Welfare Committee, Collector C. Kamaraj said here on 16 February, 2011 that the EDI had formed a team of eminent industrialists and professors like C. K. Ranganathan, R. Ramaraj, P.K. Mohapatra, Prof. Jhunjhunwala, Fr. Christie, Dr. Jayashree Suresh among others to design a special month – long programme.

Pilot programme

A pilot programme was attended by over 50 students at IIT Madras last year.

According to the organisers, the programme was a success as five of the 12 teams received funding commitments from visiting entrepreneurs.

Keeping this in mind, the EDI had proposed to launch a similar training programme for about 200 graduates (including 140 from SC / ST category ) each in Chennai, Madurai, Tiruchi, Coimbatore and Tirunelveli.

While the programme fee is [rupee] 12,500, it is being offered at 50 per cent discount to BC / MBC and free to SC / ST diploma / graduates below 30 years of age.

The programme is scheduled to commence on March 1, 2011 at Mannar Thirumalai Naicker College here. For more details, aspirants can contact consultant Prathap Sethu on 98421 – 65063.

Presentation

According to Mr. Kamaraj, interested students can submit applications at the above centre on February 20, 2011 between 9.00 a.m. and 1.00 p.m.

An entrance test would be conducted and selected candidates can attend the training programme from March 1, 2011.

Mr. Sethu said that the one – month programme would include training on entrepreneurship skills, risk – taking, leadership skills, man management, resource management, product survey, market research, marketing strategy and selling techniques, business plan case study, and industrial visits.

Confidence – building

In a nutshell, he said, the training programme would equip a candidate from the most suppressed class in the society with much – needed confidence to be an entrepreneur with adequate technical and other expertise.

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