Need of promoting entrepreneurship at institution level for engineering students in India

The growth of the Indian economy lies on entrepreneurs. There is a need for developing entrepreneurship among the engineering college students from the starting of the education. In addition to the students exposed to engineering education, they should be equipped with the entrepreneurship skills through promotion schemes and program like business incubators. The business incubator program should develop young entrepreneurs. This not only offers self-employment but also teaches to earn at young age. The potential skills of the students should be identified and tap their knowledge and mould them to start their own business after their engineering education. Several entrepreneurship development program should be organized in the engineering institutions to promote the students to actively start their entrepreneurship at young age. The innovative ideas and technological skills could be materialized in to the business The Micro Small and Medium Enterprises (MSME) sector has emerged as a highly vibrant and dynamic sector of the Indian economy over the last five decades. MSME not only play crucial role in providing employment opportunities at comparatively lower capital cost than large industries but also help in industrialization of rural and backward areas, thereby, reducing regional imbalances, assuring more equitable distribution of national income and wealth. Ministry of Micro, Small and Medium Enterprises (MoMSME) promotes the development of micro and small enterprises in the country with the objective of creating self-employment opportunities and upgrading the relevant skills of existing and potential entrepreneurs. In order to promote the establishment of new enterprises and creation of new entrepreneurs MoMSME has been implementing various schemes and programmes like establishing Business Incubators (BI) at the educational institutions. The main objective of the BI is to help the engineering students to start their own business by supporting financially on their- projects. They also receive exemptions from taxes and are protected from undue competition from big business. In order to ensure that young entrepreneurs are encouraged and suitably equipped to go into new ventures, the Government has been providing assistance for establishment of Training Institutions/Entrepreneurship Development Institutes for imparting entrepreneurship and skill development training. These EDIs have been providing entrepreneurship and skill development training to the first generation entrepreneurs and helping and supporting them in the establishment of their enterprises. In India many entrepreneurship centres have been founded to coordinate the broad array of activities, programs, and resources within the educational institutions. For example, the NS Raghavan Centre for Entrepreneurial Learning in IIM Bangalore (NSRCEL-IIMB) carries out international collaboration projects. In the case of IIM Calcutta, activities on innovation and entrepreneurship are more practical and driven by students, along with the faculty advisors. These partnerships and centre are also happening in the technical schools as much as in the business schools. The notable names include the Technology Business Incubation Unit, Delhi, the SIDBI Innovation and Incubation Centre in Indian Institute of Technology, Kanpur and the Society for Innovation and Development (SID) at the Indian Institute of Science Bangalore, one of the oldest centres in India. In fact SID-IISc´s notable achievement is a project called SuTRA—Sustainable Transformation of Rural Areas—which uses non-edible oils from indigenous neem trees as a substitute for fuel generation. Many ideas are focused on solving the problems of rural poverty, since “innovation is getting comp assionate, too”. Entrepreneurship Cell, Indian Institute of Technology Kharagpur (E-Cell) is a non-profit student´s organization dedicated to promoting the spirit of entrepreneurship among students through