Question

What is Entrepreneurship Development Program?

Explain the entrepreneurship development program with its steps and objectives.

Answer 1

An entrepreneurship development program has been defined as 'A program designed to help a person in strengthening his entrepreneurial motive and in acquiring skills and capabilities necessary for playing his entrepreneurial role efficiently'.

EDP is a device through which people with latent entrepreneurial traits are identified, motivated to take up new industrial ventures, trained in managing the unit, and guided in all aspects of starting a venture/enterprise.

EDP was first introduced in Gujarat in 1970 and was sponsored by the Gujarat Industrial Investment Corporation. The EDPs are based on McClelland's experiments in the Kakinada District of Andhra Pradesh where businessmen were provided with motivation and training.

The EDP includes the following steps:

1. Arrangement of Infrastructure.
2. Selection of potential entrepreneurs.
3. Identification of enterprise.
4. Actual training program
5. Selection of training personnel.
6. Selection of the method of training.
7. Actual training.
8. Monitoring and follow-up.

Objectives of EDP:

The following objectives of EDP are identified.

1. To foster entrepreneurial growth in the country.
2. Optimum use of available resources.
3. Development of backward regions and improving the economic status of socially disadvantaged groups.
4. Generation of employment opportunities.
5. The widening base for small and medium-scale industries.