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(3EA) Research Reveals Growing Entrepreneurship Potential for MSMEs in UP Mumbai, Maharashtra, India (NewsVoir) 23-08-2018
(3EA) conducted a study in Uttar Pradesh after the two events, UP Investor’s Summit, which was held on 21st & 22nd July and ‘Ground Breaking Ceremony’ held on July 29th, 2018 where Government announced an investment of over 60,000 crore rupees in 81 projects of Uttar Pradesh.
As per primary and secondary data collected through focused group interviews of MSME’s and Nano Entrepreneurs with a sample size of 200 across districts of Central UP during, have revealed that though benefits of investor summits will be realized by society at large after minimum 2 financial years but a positive eco-system has been created. Almost 80% of sample covered mentioned that they would prefer entrepreneurship over full time jobs, for their livelihood. Young qualified professionals having engineering and management background were covered in the survey. The younger generations’ of UP have shifted their focus from full time jobs to become an entrepreneur. They are trying for start-ups related to their domain and they look-forward for incubation and financing support. Recently management colleges have addressed the need for entrepreneurship and many of them have set up an incubation centres in their institutes itself. Observing these changes after the summit, other related services and their market have also started spreading their roots.
Need for Co-working office, outsourcing services and MSME consulting are some of the examples of changing trend observed in the survey. 3EA has also mentioned in one of their reports that start-ups and MSME’s entrepreneurship projects require 360-degree hand holding and support. No international level consulting company operates in this space. Several start-up projects have been incubated by 3EA and the number of queries have significantly increased at their Lucknow office after the summit. Some of the prospective beneficiaries of the movement of government campaigns through 3EA are Mahona Industries Pvt. Ltd, Ferris Furniture, Chai Peeni Hai, Bombay Hot, Kapeeshwar Foods Products Pvt. Ltd. etc.(M0RE) Source: (NewsVoir)