Vice President M Venkaiah Naidu, during a global entrepreneur’s summit, pitched the idea of establishing a close linkage between universities and industry.
During the video conference, VP M Venkaiah Naidu asked universities to set up incubation centers to mentor and nurture entrepreneurial talent among youngsters having novel business ideas.
Furthermore, he appealed to the corporate sector to step forward to fund and promote an entrepreneurial ecosystem on university campuses.
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About 65% of India’s population comprises youth. Hence, it is essential that the talented youth’s energies should be fully tapped and their mindsets should be changed to job creators from job seekers.
Additionally, to promote entrepreneurship among women, M Venkaiah Naidu wanted to launch a special drive for women. He said, in India, there is a huge potential for promoting women entrepreneurs
According to NASSCOM’s recent data, about 50% of the tech start-ups are hopeful of reaching India’s revenues to the level that was before COVID-19. India has become home to the world’s third-largest start-up ecosystem.
The Vice President, referring to various studies, stated that most prosperous countries across the world are the ones having the most entrepreneurial business. Besides, entrepreneurship makes people more fulfilled and happier.
Naidu further added that entrepreneurship is not all about profits but it makes the lives of people better through healthcare, education, and basic human rights.
The Vice President talked about the challenges that came with the COVID-19 pandemic. He said that this is a time to turn adversities into opportunities. He wanted to create an ecosystem that will help to translate innovative ideas into promising start-ups.
An entrepreneurship-start up plays a major role in employment generation and economic growth. Fostering Entrepreneurship is about creating an environment where ideas and innovation can flourish.
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Furthermore, the Vice President appreciated the government for providing youth with a start-up environment for economic growth and developing the best educational curriculum.
He further encouraged chambers of commerce and established entrepreneurs or associations to mentor the next generation of capable minds. He asked them to share their gained wisdom with students while the universities emphasize research works.
Universities will also provide internships to nurture and develop the entrepreneurial skills of students before their graduation.
Moreover, the Vice President stated, “Noting that with more and more young people joining the labour market, the world will need about a half-a-billion new jobs by 2030”.
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