Developing Economy Engagement

The cornerstones of developing economies are the entrepreneurs who form a nation’s backbone. They possess the creativity and out-of-the-box thinking abilities to harness the existing resources to the maximum, thereby ensuring that the nation pedals on a fast track. However, a developing world is faced with several inhibiting factors that make entrepreneurship a challenging task for enthusiasts; particularly so in the present times, with the nature of ‘businesses / doing businesses’, undergoing a transformation. Nevertheless, today when the whole world is one big market, the constraining factors can be addressed through awareness on contemporary methods and technologies, training, mentoring, funding and hand holding support. EDII has been imparting several countries an entrepreneurial routing and building an entrepreneurial trajectory for them. The Institute advocates institution-building, across nations, to ensure that entrepreneurship emerges as a much relied upon tool to bolster New Enterprise Creation. In several countries such as Cambodia, Laos, Myanmar, Vietnam and Uzbekistan, EDII has already established a network of activities that are ensuring sustained entrepreneurship under the aegis of a Centre devoted to the cause. These Centres have come to adopt the role of full fledged ‘Centres of Excellence’ and are contributing greatly to entrepreneurship by ensuring idea generation,  training, mentoring and promoting an upbeat culture of entrepreneurship.  EDII also carries out a series of activities to strengthen entrepreneurial capacity in investment promotion and trade negotiations. Countries in Asia, Africa, Middle East, East Europe, Latin America, the Caribbean as well as Pacific and Small Island countries have been the beneficiaries. 

Nurturing and propagating entrepreneurship on foreign grounds through awareness generation, education, training, human resource development and institution building has become one of the major development strategies for the Institute.  

Major Highlights:

  • Implementing country focussed programmes in close association with local governments so as to promote New Enterprise Creation, cluster development, women entrepreneurship and human resource who could function as intrapreneurs.
  • Adopting concept-to-completion approach to set up Entrepreneurship Development Centres across the globe. Lao PDR, Cambodia, Vietnam, Myanmar and Uzbekistan already have result-reaping ED centres. More countries in the African region will soon follow suit.
  • Sensitizing governments of several countries on the significance of New Enterprise Creation, enterprise upgradation and investment promotion, and organizing befitting training projects.
  • Under the ITEC division of the Ministry of External Affairs, Govt of India, sharing expertise with developing countries in specialised areas. Officials from Government, Non-Government, Organizations as also Private Institutes are trained every year in various aspects of entrepreneurship and investment promotion.
  • Tied up with Human Resource Development Fund under Ministry of HRD, Malaysia to assist Malaysia Government in ensuring 35% skilled Malaysian workforce by 2020.
  • Implemented projects with support from the World Bank, Commonwealth Secretariat, UNIDO, ILO, FNSt, British Council, Ford Foundation, European Union, ASEAN Secretariat, SDC etc.

The Year 2020 –21:

  • Partnerships will be forged with foreign governments to set up Entrepreneurship Development Centres in the respective country.
  • International capacity building programmes sponsored by ITEC Division of Ministry of External Affairs, Govt. of India to continue.
  • Collaborations with international institutions for offering entrepreneurship courses.
  • Country-focused programmes will be offered to aid technology transfer and trade facilitation between India and other countries.