http://www.startups.co.uk/government-launches-double-review-on-entrepreneur-support.

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What is Entrepreneurship?

The definition of entrepreneurship has been debated among scholars, educators, researchers, and policy
makers since the concept was first established in the early 1700’s. The term “entrepreneurship” comes
from the French verb “entreprendre” and the German word “unternehmen”, both means to “undertake”.
Bygrave and Hofer in1891 defined the entrepreneurial process as ‘involving all the functions, activities,
and actions associated with perceiving of opportunities and creation of organizations to pursue them’.
Joseph Schumpeter introduced the modern definition of ‘entrepreneurship’ in 1934. According to
Schumpeter, “the carrying out of new combinations we call ‘enterprise’,” and “ the individuals whose
function it is to carry them out we call ‘entrepreneurs’.” Schumpeter tied entrepreneurship to the creation
of five basic “new combinations” namely: introduction of a new product, introduction of a new method of
production, opening of a new market, the conquest of a new source of supply and carrying out of a new
organization of industry. Peter Drucker proposed that ‘entrepreneurship’ is a practice. What this means is
that entrepreneurship is not a state of being nor is it characterized by making planes that are not acted
upon. Entrepreneurship begins with action, creation of new organization. This organization may or may
not become self-sustaining and in fact, may never earn significant revenues. But, when individuals create
a new organization, they have entered the entrepreneurship paradigm.

Support for Starting Entrepreneurs :

1.   TNUFA
 
This support is intended for inventors, entrepreneurs and start-up companies
during the initial phase toward the realization of their ideas. The fund will
contribute toward getting patents, the construction of a prototype to verify the
viability of the idea, preparation of a business plan and the mobilization of
initial capital.
 The grant for this program is 85% of the approved costs up to a maximum of
210,000 NIS (Approx. $47,000).
 2.  Technological Incubators
 The incubator provides a supportive framework for the entrepreneur in the
form of an independent company that enables him to translate a commercially
viable technological idea into a product that will attract investors. The R&D
 grant provides 85% of the approved R&D expenditures with the remainder to
be raised by the entrepreneur.
 There are currently, in Israel, 24 incubators spread around the country.
 The following innovative approaches have been implemented recently:
 
a.       An experimental program to privatize some of the incubators. In this
program a private licensee will assume the operating expenses of the incubator
and the entrepreneurs will enjoy an increased grant.
 b.      A program to establish incubators that will be involved solely in
biotechnology as a result of government policy for increased activity in
this area. The biotech incubators will respond to some of the unique
aspects of this field namely the long-term nature inherent in its R&D.
Technological incubators are support corporations that give fledgling
entrepreneurs an opportunity to develop their innovative technological
ideas and set up new businesses in order to commercialize them. The
incubator program is applied in all parts of the country, under the
guidance and with the support of the Office of the Chief Scientist of the
Ministry of Industry and Trade.

3.  Seed Fund

Heznek Program - The Government seed fund
The slowdown of the world economy has caused a decrease in the level of
investments in start-up companies and consequently a lessening in the number
of start-ups formed.
In order to encourage investments and increase the number of new companies
formed the Ministry of Industry and Trade established a new and separate
vehicle to provide a positive signal to investors and create further inducements
for mobilizing investments for the establishment of  start up companies.
The program is based on the government matching an investment in a start-up
company, proportional to the investment of an investing entity and on giving
an option to the investor to purchase the government shares in the start up
company at the initial price.
 Who is a qualified investor?
 ·        VC Fund or Corporation active in VC or tech company investing in
similar industries
·    An investor who has the ability and manpower to guide the
management of the new company
·     An investor who has sufficient available funds 
 
What defines a Start-Up Company?
 ·     R&D Company that was formed no more than 6 Months ago OR whose
total expenditures have not exceeded 800,000 NIS.
·  A company which hasn't raised money from investors – excluding
primary financing for feasibility study.
 
The Government’s Investment
 ·        The Government and the investor will put up matching funds.
·        The Government's investment will be in return for shares of the
company.
·         The Government investment will be up to 5 Million NIS per
company per two year period that will finance up to 50% of the
Approved Work Program.
·        The expenditures supported will be those related to R&D.
 
The Investor’s Option
   The Investor will be given an option to purchase the government shares
anytime within the first 5 years at the initial price plus linkage and interest.
 
R&D Law    With reference to transfer of know-how and manufacturing
rights, the company will be bound, as are all those enjoying government
support by the R&D LAW
Government of India Plans SME Helpline:
The government of India plans to launch a toll-free helpline for small and medium businesses,
which would offer assistance on issues like taxation, finance, laws, marketing and other relevant
topics. This was disclosed by Dinesh Rai, Secretary, Ministry of Micro, Small and Medium
Enterprises (MSMEs), Government of India, at a conference on Information, Communication
and Technology (ICT) for Small and Medium Enterprises (SMEs), organised by the Internet and
Mobile Association of India (IAMAI) and IndiaMART.com on July 10.
The conference was attended by 500 well known entrepreneurs and professionals from various
industries. Distinguished personalities like Dinesh Agarwal, Founder and CEO of
IndiaMART.com,  Dinesh Rai, Secretary, Ministry of Micro, Small and Medium Enterprises
(MSMEs), Government of India, Rajiv Sodhi, Director, Emerging Geographies, Microsoft India,
Gurmukh Singh, Head Business Marketing, Intel South Asia, Harish Bahl, Founder & Chief
Executive Officer, Smile Interactive Technologies Group, were among those present.

Dena Bank to support India’s women entrepreneur

Dena Bank will help Government of India’s initiative to encourage women entrepreneurs
for self-employment ventures in any kind of non-farm activity
Under the programme, Trade Related Entrepreneurship Assistance and Development (Tread)
Scheme, the bank will provide loans to women through non-government organisation (NGOs)
for self-employment ventures by them in any kind of non-farm activity.
The Tread scheme was launched by the Government of India to provide resources and financial
assistance to women entrepreneur not only in villages but also in urban areas.
The scheme provides for grants up to 30 per cent of the total project cost released to
financial institutions who become partners in implementation of the scheme.

The Future of Entrepreneurship

Both the Central Government and various State Governments are taking increased interest in
promoting the growth of entrepreneurship. Individuals are being encouraged to form new
businesses and are being provided such government support as tax incentives, buildings, roads,
and a communication system to facilitate this creation process. The encouragement by the central
and state governments should continue in future as more lawmakers are realizing that new
enterprises create jobs and increase the economic output of the region. Every state government
should develop its own innovative industrial strategies for fostering entrepreneurial activity and
timely development of the technology of the area. The states should have their own state-
sponsored venture funds, where a percentage of the funds has to invested in the ventures in the
states.
Society’s support of entrepreneurship should also continue. This support is critical in providing
both motivation and public support. A major factor in the development of this societal approval
is the media. The media should play a powerful and constructive role by reporting on the general
entrepreneurial spirit in the country highlighting specific success cases of this spirit in operation.
Finally, large companies should show an interest in their special form of entrepreneurship-
intrapreneurship-in the future. These companies will be increasingly interested in capitalizing on
their Research & Development in the hyper competitive business environment today.
 Assignment
Of
Project Management And
Entrepreneurship
On
Government support for Entrepreneur

Submitted TO:
Submitted By:
Ms. Samiksha Priyanka
Arora
 Assignment
Of
Project Management And
Entrepreneurship
On
Government support for Entrepreneur
Submitted TO: Submitted
By:
Ms. Samiksha Sandeep Kaur

Assignment
Of
Project Management And
Entrepreneurship
On
Government support for Entrepreneur
Submitted TO:
Submitted By:
Ms. Samiksha Sahil
Lakhanpal

Assignment
Of
Project Management And
Entrepreneurship
On
Government support for Entrepreneur
Submitted TO:
Submitted By:
Ms. Samiksha Richa
Thukral