Innovations and Entrepreneurship

Innovation: Meaning, difference between innovation and creativity, Innovation types & Platforms, Business Model Innovation, Service Innovation, Design-led innovation, Improvisation, Large firm Vs. Start-up innovation, Co-creation and open innovation, developing an innovation strategy, Sources of innovation, Innovation Environment, Creative Destruction

Entrepreneurship: Meaning, definition and concept, Factors affecting entrepreneurship, characteristics and skills of an entrepreneur, entrepreneur v/s manager. Concept of intrapreneurship, types of entrepreneurs, functions of entrepreneur, entrepreneurial decision-process, challenges faced by entrepreneurs and changing role of entrepreneur. Women enterprises, social, and rural entrepreneurship

Entrepreneurial Finance, Assistance and Entrepreneurial Development Agencies: Estimating financial funds requirement; Sources of finance – banks, & financial institutions, financing of small-scale industries in developing countries. Role of central government and state government in promoting entrepreneurship with various incentives, subsidies, grants, export oriented units – fiscal & tax concessions, other government initiatives and inclusive entrepreneurial growth. Overview of MSME policy of government in India, Role of agencies assisting entrepreneurship: DICs, SSIs, NSICs, EDIINIESBUD, NEDB, Entrepreneurship Development Institute (EDI). New initiatives taken by government to promote entrepreneurship

• From Idea to opportunity: Idea generation- sources and methods, identification and classification of ideas. Individual creativity: idea to business opportunity, Opportunity assessment, Process of New Venture and its Challenges, Venture capital, Angel investing, Crowdfunding
• Developing a Business Plan: Business Planning Process: elements of business planning, preparation of project plan, components of an ideal business plan – market plan, financial plan, operational plan, and, Feasibility Analysis – aspects and methods: Economic analysis, financial analysis, market-, and technological feasibility.

Launching a New Venture:Steps involved in launching a business (Process charts), Various Forms of business ownership, Registration of business units; start-up to going IPO; revival, exit and end to a venture.