Entrepreneurial Ecosystem : A Gateway for Business Opportunities

On 12.07.2023 an expert talk on “Entrepreneurial Ecosystem : A Gateway for Business Opportunities” was organized by the Entrepreneurship Development Cell and IIC in association with the Department of CSBS. The session was handled by Mr. P. Selvakumar,H.R., Francis Xavier Engineering College. 41 students from first year CSBS and 2 faculties of CSBS department participated in the program. The program was coordinated by Dr. T. Manimozhi, EDC coordinator of CSBS, Professor/Mathematics, Francis Xavier Engineering College from 10.30 A.M. – 12.30 PM.

The resource person explained the concept of entrepreneurial ecosystem and the different players involved in the entrepreneurial ecosystem. He starts with, in today's dynamic business landscape, the concept of an entrepreneurial ecosystem has gained significant attention. The speaker said that the entrepreneurial ecosystem refers to the network of stakeholders, resources, and support mechanisms that foster entrepreneurship and innovation within a specific region or industry. Entrepreneurial ecosystems contribute to economic growth by fostering the creation of new businesses and industries. Sir also added that entrepreneurial ecosystems encourage the exchange of knowledge and expertise between entrepreneurs, support organizations, research institutions, and established businesses.

He also highlighted the business opportunities which can be taken up for establishing the business unit. He requested the participants to analyse the market feasibility, economic feasibility and financial feasibility to choose the right business. He also said that the entrepreneurial ecosystems act as a critical gateway for business opportunities, fostering innovation, economic growth, and job creation. The success of these ecosystems depends on nurturing the key elements, including startups, access to capital, support organizations, research institutions, favorable government policies, and a collaborative culture. By creating an environment that encourages entrepreneurship and collaboration, the regions can position themselves as attractive destinations for startups and entrepreneurs, leading to long-term economic prosperity and societal benefits. The session was an interactive one and the participants gathered lot of information about entrepreneurial ecosystem.