A Synopsys University Program initiative, Indian Govt. over the years showed great thrust on higher education along with primary education in India by allocating funds to set-up new or upgrade existing premier educational institutions like the IITs and IIMs. But what has always been lacking is the encouragement for entrepreneurs and trust in entrepreneurship.
According to a recent report India will consume electronics worth USD 320 bn by 2015; while under the best scenario we will be able to produce goods worth USD 200 bn in India. This demand supply gap will be close to our oil import bill. Skill deficit doubled with lack of entrepreneurial support is stopping India from tapping the opportunity knocking on the door.
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.
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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