Entreprenurship

Entrepreneurship : New approach for fostering it en masse

The new world order after Covid-19

The pandemic has posed an unprecedented challenge for everyone in the world. The challenge in front of economy is huge, and it looks like a humongous task to bring the economy back on track. The need is to have a new approach which promote inclusive growth thre en-mass entrepreneurship.

Instead of pushing ideas from top down, can we leverage the ideas from bottom up.

Every one today is of the view that post covid world will not be same as pre covid. Things have changed permanently. Lakhs of migrant labourers from rural areas have gone back to their villages, with a decision of not coming back. Lot many jobs have been lost, and more then those might be in the process. Many of the small businesses are on the verge of closure. World has changed to a new way of living in this pandemic.
What is the way ahead in the current situation. One of the most important way is to foster innovation and entrepreneurship among the masses. With the government drive and push for makeinindiastartupindia and aatmanitrbharbharat mission, it is very important that the innovation and entrepreneurships is fostered at grassroot level. Right now all the startups are concentrated in few centres and that too on technology. That is good to create new unicorns. what about the masses. the economic situation of the country will be decided by the economy of its people. Without its people becoming aatmanirbhar how will india become aatmanirbhar.

Way ahead – Entrepreneurship en Masse

To tap the vast potential of people in india in innovation and entrepreneurship, it is important to adopt a different model for this population. This will create the opportunities for development of rural and small town economy in the nation, and thereby create a more self reliant india. So far the traditional approach for any thing is of Top-Down, in which solutions are provided by the govt. or private sector and the population follow that solutions. The public and private sectors have convinced themselves as well as to the masses that they can serve them by producing and delivering goods and services at an affordable price, and the masses reciprocate for this benefit by working for these sectors.

The traditional thinking and entrepreneurship model is of top-down approach, might be serving western countries or the developed world. In that model, it is thought that innovation and ideas which can be converted into mass scale products or services are only originate at top of pyramid. Most of the resources in terms of funding, mentoring and growth opportunities are also concentrated at the top.

Though there is a merit in providing goods and services at affordable prices to the people in small town and rural areas, however at the same time it is important that we encourage and respect the vast knowledge, experience and innovations being done by them and convert them in to a profitable entrepreneurship model. It is a win win situation to collaborate and utilize the resources from everywhere, irrespective of where that is placed in the economical pyramid. Society as a whole will be benefited if all the available resources are utilised to their full potential

There is seldom an approach where people at bottom are being taken seriously as source of ideas, innovations and institutional arrangements for creation of huge value. They are always being seen at recipients of grants and aid. There is a need to change this attitude.

The need of inclusive growth is very much important because of current economic situation and increasing gap between societies. At the same time for success of missions like make in india and aatmanirbharbhrat the involvement and growth of masses is required. Many useful products and services can be created with new ideas and innovations happening at the bottom which will add up to growth of society, population and the country as a whole. It will require a willingness to invest in the ideas and imagination of local communities and individuals.

Creating Collaborative Communities

Necessity is the mother of all inventions but to leverage that invention for well being on a larger scale a lot of people and resources need to collaborate towards the common benefit. Providing a platform for collaboration and sharing of any idea or resource can be an instrument for these ideas to be converted into a full-fledged solution which also make economic sense at a larger level. Sometimes an accident leads to a new discovery and some time Innovations can also emerge when an idea in one field is applied in a totally different field. The principle was the same but the domain was very different. To make this possible sharing and collaborating is the key.

To create an economical value out of these ideas and resources it is also required to recognize, respect, and reward grassroots knowledge systems and leverage that thru collaboration and sharing platforms. Creating collaborative communities in which individuals can convert their ideas into products and services—by sharing the knowledge, experience, technology, designs, market reach as well as risk capital on a single country level platform. This will constitute the heart of Grassroot innovation. 

VeUniq is a platform conceived and created to facilitate the sharing and collaboration to convert ideas into Socioeconomic Ventures.

Fostering entrepreneurship Bottom-Up

To build Bottom-up Entrepreneurship, its very important to capitalise on vast resources of individual and/or community knowledge. Creating multiple collaborative communities will definitely help in bringing that knowledge pool in open shared forum, where that can be used as resources and built upon to create entrepreneurial pursuit. The need is to Create Collaborative Communities on a open platform.

To build Bottom-up Entrepreneurship, its very important to capitalise on vast resources of individual and/or community knowledge. Creating multiple collaborative communities will definitely help in bringing that knowledge pool in open shared forum, where that can be used as resources and built upon to create entrepreneurial pursuit. The need is to Create Collaborative Communities on a open platform.

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