While, the Universities in US have played a key role in fostering entrepreneurship, similar role is seen missing in their Indian counterparts. Finance Minister should consider to set-up a University Entrepreneurial Fund which will encourage the faculty and students to establish a start-up and meet the consumer demand.
In Union Budget 2009-10, Finance Minister Pranab Mukherjee allocated Rs 2113 crore for IITs and NITs in India. Of this sum, Rs 450 crore was allocated to set-up new IITs and NITs. A smaller portion of this amount every year will certainly do wonders by encouraging many in India turn entrepreneurs. It is also important for us to learn a lesson or two from countries like Taiwan, Singapore and Israel, where a number of electronics' companies have sprung up to become giant corporations that supply to the need of entire world.
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