5 Institutions that promote skill-backed entrepreneurship

For India, job creation is the need of the hour and the country needs entrepreneurs who can come up with innovative ideas, sustainable and profitable solutions to solve the problems. There are many institutions in the country that are promoting entrepreneurship and we present you 5 Institutions that promote skill-backed entrepreneurship.

Entrepreneurship is not always formal or urban or where there is funding, formal incubation center, etc. This kind of entrepreneurship is limited only to a few industries like IT, agriculture, manufacturing, among others. There is a huge potential for entrepreneurship among the rural youth to create jobs than just job seekers. With new skilling, upskilling, and reskilling, they can come up with innovative solutions. There are also many initiatives like Start-up India, Make in India, that support entrepreneurship. This will also boost “Vocal for Local” and contribute towards  Atmanirbhar Bharat.

Today, small entrepreneurs are able to use their skills, knowledge, and talent to create unique products and run their business successfully to grow into big businesses. However, the people who took up the traditional self-employment and entrepreneurship options like baking, beauty services, tailoring, mechanic, etc. are in very big need of support.

Post-COVID-19 opportunities

Below are some of the sectors that have a huge potential and provide plenty of opportunities for entrepreneurs:

1. Healthcare and sanitation
2. Logistics and e-commerce
3. Digital marketing
4. Edtech and online learning
5. Remote working support system

Catalyzing Entrepreneurship

Some of the areas we need to focus upon to catalyze entrepreneurship in India are:

1. Training and education
2. Incubation support
3. Grants and funding
4. Markets and linking
5. Networking

5 Institutions that promote skill-backed entrepreneurship

1. National Institute for Entrepreneurship and Small Business Development (NIESBUD) – https://niesbud.nic.in/

The institution comes under the Ministry of Skill Development and Entrepreneurship (MSDE). It is of great importance as the Ministry itself is emphasizing upon connecting skills with entrepreneurship.

2. Rural Self-Employment Training Institutes (RSETI) – http://nirdpr.org.in/rseti/

RSETI comes under NIRDPR (National Institute of Rural Development and Panchayati Raj). This institute helps rural people under various aspects of self-employment and entrepreneurship.

3. List of Micro, Small and Medium Enterprises- Development Institutes / Small Industries Service Institutes – http://dcmsme.gov.in/sido/sisi.htm; https://msme.gov.in/entrepreneurship-and-skill-development-programs

India’s MSME sector is supported by many institutions that come under various Ministries and institutions that are operating from various States and districts.

4. Entrepreneurship Development Institute of India – https://ediindia.ac.in/

This institute helps young people to take up entrepreneurship, explore social entrepreneurship, improve their family business, etc.

5. National Institute for Micro, Small and Medium Enterprises (ni-msme) – https://www.nimsme.org/

It is a national institution which supports micro, small and medium enterprises.

Related Article: Why Rural Entrepreneurship is important for the growth of the Indian economy – Read More: https://nationalskillsnetwork.in/why-rural-entrepreneurship-is-important-for-the-growth-of-indian-economy/

These institutions support not just the youngsters, women, or the urban for entrepreneurship, but help and extend support whoever wants to be an entrepreneur by helping them connect with a larger system by provides training and education along with the right information, funding, market linkages, etc.