Chapter

Promoting Knowledge-intensive Entrepreneurship in India

Sunil Mani

in Entrepreneurship, Innovation, and Economic Development

Published in print April 2011 | ISBN: 9780199596515
Published online September 2011 | e-ISBN: 9780191729133 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780199596515.003.0009

Series: WIDER Studies in Development Economics

Promoting Knowledge-intensive Entrepreneurship in India

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The chapter starts out by demonstrating how important private technology-based entrepreneurial firms have been for the acceleration of economic growth in India in the second half of the 1990s. After 1992, an average of 34,000 new firms was established in India each year. Especially since 2003/4 an increasing share of these firms was technology-based, for instance in IT software, biotechnology, aerospace, and telecoms. The chapter outlines the policy and institutional environmental background that gave rise to the growth in knowledge-intensive entrepreneurship in India. The chapter identifies five broad facilitating factors: the liberalization of the economy that created many new market opportunities; the general increase in financial resources for innovation and entrepreneurship, including in particular venture capital; a rise in government support programmes and public-private partnerships; the emergence of private institutions and initiatives to complement government support programmes for innovation; and the increased availability of skilled labour, essential for high-technology products and services. Key policy challenges for the government are discussed.

Keywords: knowledge-intensive entrepreneurship; venture capital; angel financing; business incubators; India

Chapter.  11953 words.  Illustrated.

Subjects: Economic Development and Growth

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