Report on Entrepreneurship Awareness Program Conducted by B. Com (Management Studies) Department in Association with MSME Technology Center (IDEMI), Mumbai

Objective of the Program:

The primary objective of the Entrepreneurship Awareness Program was to provide students with insights into the significance of entrepreneurship in today’s economy. The session aimed to inspire and motivate students to explore entrepreneurial opportunities, especially in the MSME (Micro, Small, and Medium Enterprises) sector. The event was designed to offer a deeper understanding of how innovation, technology, and government initiatives can be harnessed to create successful entrepreneurial ventures.

Keynote Speaker:

The program was led by Ms. Deepa Raut, an IT technology and MSME expert from IDEMI, Ministry of MSME, Government of India. With years of experience in the MSME sector, Ms. Raut shared valuable knowledge on entrepreneurship, emerging technologies, and the government’s support for budding entrepreneurs.

Program Highlights:

1. Introduction to Entrepreneurship:
   Ms. Deepa Raut began the session by explaining the concept of entrepreneurship, highlighting its importance in the current economic landscape. She elaborated on how entrepreneurship not only contributes to job creation but also fosters innovation and growth in various sectors.

2. Role of MSMEs in the Indian Economy:
   A major focus of the session was on the Micro, Small, and Medium Enterprises (MSME) sector and its pivotal role in India’s economic development. Ms. Raut explained how MSMEs drive innovation, provide employment, and contribute significantly to the country’s GDP.

3. Government Schemes and Support for Entrepreneurs:
   Ms. Raut discussed various government initiatives and schemes that are available to support entrepreneurs, such as financial assistance, technical guidance, and access to resources provided by the Ministry of MSME. She also shared details about the IDEMI (Indian Machine Tool Manufacturers’ Association) Technology Center, which plays a key role in facilitating technology transfer and innovation for MSMEs.

4. Technology and Innovation in Entrepreneurship:
   A significant portion of the session was dedicated to the impact of technology in entrepreneurship. Ms. Raut highlighted how advancements in IT and digital tools have revolutionized business models and helped small enterprises compete on a global scale. She discussed the role of emerging technologies like Artificial Intelligence, IoT (Internet of Things), and Automation in improving the efficiency and productivity of MSMEs.

5. Steps to Start a Business:
   Ms. Raut provided a step-by-step approach to starting a business, covering key aspects such as idea generation, market research, business planning, funding, and the legalities involved. She also emphasized the importance of resilience, innovation, and adaptability for entrepreneurs.

6. Interactive Session and Q&A:
   Towards the end of the program, Ms. Raut engaged with the students in an interactive session, answering their queries about entrepreneurship and providing practical advice on overcoming challenges faced by startups. Students expressed interest in exploring potential business ventures, and Ms. Raut encouraged them to start small and scale gradually.

Outcome of the Program:

The Entrepreneurship Awareness Program successfully:

• Provided students with practical insights into the entrepreneurial journey.
• Raised awareness about the MSME sector and its importance in the Indian economy.
• Empowered students to explore entrepreneurship as a viable career option.
• Introduced government schemes and resources available for aspiring entrepreneurs.
• Encouraged students to leverage technology to create innovative business models.

Feedback from Participants:

The response from students was overwhelmingly positive:

• 88% of participants found the program informative and beneficial for their understanding of entrepreneurship.
• 85% expressed increased interest in exploring the MSME sector as a potential career path.
• Students appreciated the practical advice shared by Ms. Raut regarding starting a business and overcoming entrepreneurial challenges.

Conclusion:

The Entrepreneurship Awareness Program was a successful initiative by the B.Com (Management Studies) Department, in collaboration with MSME Technology Center (IDEMI), Mumbai. The event effectively empowered students by providing them with the necessary tools, resources, and inspiration to pursue entrepreneurship. The session delivered valuable insights into the importance of MSMEs, the role of technology, and the government’s support for entrepreneurs, helping students realize the potential of starting their own ventures in the rapidly evolving business environment.