Entrepreneurship Development Program (EDP) is the process of equipping a person with the required skills and knowledge needed for starting and running the enterprise. This program helps in nurturing the talent of the youth by enlightening them on various aspects of industrial activities required for setting up the business. The program trains, guides, and motivates young minds to become a successful entrepreneur with the help of various case studies, industrial documentaries, project business reports, etc.
There are various Entrepreneurship Development Program
institutes in India, for eg., the Institute for Industrial Development (IID),
under MSME, Govt. of India. The process of the entrepreneurship development
program is an effective way of developing the mind of entrepreneurs to help
accelerate the pace of socio-economic development, exploitation of locally
available resources, and balanced regional growth.
The roles of the
Entrepreneurship Development Program:
- Knowledge of
projects and products among various industries
- Learning the procedure of setting up an enterprises
- Diverse
stimulatory aspect like developing skills, training, valuable know-how
- Promote supportively
aspects like registrations, funds, taxations
- Elaborate
government schemes and subsidies
- Harnessing locally
available resources
Looking at the current scenario, women of our country are also
moving forward, and the need for women entrepreneurship development is also in
demand. There are various subsidies and schemes available for women
entrepreneurs in India. The program has proceeded in the view of women's
progress in the nation.
Conclusion
The Entrepreneurship Development Program helps an entrepreneur in formulating projects by providing the necessary technical guidance and support. This program helps in the expansion and establishment of new ventures, or industries, or businesses. It also helps in balancing regional development and reduces the concentration of economic power in a few hands only. The main motive of this program is to support, guide, and train new minds for a better tomorrow.
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