Building Innovative Local Economies
through Youth Entrepreneurship
In
2021−22, India witnessed exponential growth in entrepreneurship with a
whopping increase of 14.4% from 5.3% in 2020. During the COVID-19
pandemic, every major economy in the world was impacted and each country
including India had to bear the cost of economic contraction,
livelihood loss, and increased healthcare expenditure. The rural
micro-enterprises of the country played a major role in protecting the
lives and livelihoods of the Indian villages in this period. The
relevance of these enterprises was reiterated when rural sectors such as agri-allied and micro-enterprises not only survived but also supported
more than 4.89 crore jobs between 2020 and 2022.
In spite of such potential and showcased impact, the accessibility to
innovation in entrepreneurship is limited in nature, especially for
rural geographies. This in turn is leading to the entrepreneurship of
‘necessity’ over entrepreneurship of ‘choice’. With the social
innovation approach of co-creating design solutions to identified
challenges, we asked ourselves, 'How do we nurture innovation in
grassroots entrepreneurship?'
With this vision,
Development Alternatives (DA) co-created Kaun Banega Business Leader (KBBL)
in 2017 with the community - a business competition to unleash
entrepreneurial energies and build a platform to nurture innovative
business solutions. The KBBL prototype has been a receptive tool in
understanding and communicating the nuances of entrepreneurship,
especially in geographies where hardly any discussion on business takes
place. In December 2022, the prototype was customised as Grassroots
Innovation Challenge (KBBL 2.0) in Jhajjar, Haryana under the WE-LEAD
project. The competition received an overwhelming response from women
and youth determined in bringing change through entrepreneurship.
Neha Gulia, 25, a young entrepreneur, runs a Common Service Centre. The
centre eases the accessibility of information and enterprise support
services to her community. When Neha came to know about KBBL 2.0 and the
challenge of innovation in the form of business ideas, she applied and
emerged as one of the business leaders of Jhajjar. She is now planning
to set up her event management enterprise. As rightly said, change
begins at home. Neha not only participated but also encouraged her
family members. Her mother and younger sister too participated in KBBL
2.0 with pitches for an Indian sweet shop and dance institution,
respectively. Neha’s aspiration to become an entrepreneur led to the
seeding of an entrepreneurial spirit within her family and among her
friends.
In Mathurapura of Niwari district,
Bundelkhand, Rakhi Tiwari, 21, had similar
aspirations. She wished to bring digital accessibility to her local
community where people struggled to access schemes, apply for exams, and
make online transactions. Brought up by a single mother, at a very young
age Rakhi understood the importance of being financially independent.
Driven by passion, she equipped herself with digital knowledge through
Orchha's Kiosk Centre which was run by another entrepreneur, Devendra
Rajak. She analysed the market needs and started her udyaME kiosk in
2020. Today, she supports her family financially and is bridging the
digital gap too by inspiring many other young women to pursue their
dreams.
Young entrepreneurs are
leading innovative solutions enhanced by their knowledge of identifying
gaps in local challenges. Shifts in the system require momentum to
enable entrepreneurship of choice to diversify the local economy, plug
gaps in the market, and respond in the form of future forward
opportunities.
References
Press Information Bureau.
2022. Global Entrepreneurship Monitor. Details available at
https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1805875, last
accessed on 21 January 2023
Ministry of Micro, Small and
Medium Enterprises. 2021. Annual Report 2020/21. New Delhi: Ministry of
Micro, Small and Medium Enterprises
Narayan, Madhusudan, Manish
Vadera, and M L Vadera. 2018. Rural entrepreneurship in India: an
overview. International Entrepreneurship and Management Journal
08(04):280−284
Das, Dilip. 2014. Prospects
and challenges of rural entrepreneurship development in NER-A Study.
International Journal of Humanities & Social Science Studies 1(3):
178−182
Chand Bardewa
cbardewa@devalt.org
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