Behind the Boom: What is Leading the Entrpreneurial Fire and its Nature in India

Abstract

This case study is meant for discussing emergence, growth and characteristics of the New Age Indian Entrepreneur.Since time immemorial, the Indian business segment has been dominated by family-run businesses, with most of them hailing from traditional, money-lending or trading communities, known for their sharp business acumen. But over the past 18 years the number of new generation entrepreneurs is mushrooming. The young are engaged in varied form of small and medium enterprises varying from paper to electronics, engineering to electrical, textile to metal, construction to food processing, education to handicrafts. Considering this trend, on the basis of qualitative data generated through the case studies of Indian entrepreneurs, this articles makes an effort to report on the characteristics of new generation entrepreneurs and explores the motivational factors and importance of other factors such as educational qualification, role of mentoring, prior experience. The article also brings out comparative study of new entrepreneurs and first generation entrepreneurs. The findings suggest that prominent ‘Motivation Triggers’ are ‘Independence’, ‘Market Opportunity’, ‘Family Background’, ‘New Idea’, ‘Challenge’, and ‘Dream Desire’. Motivation triggers vary according to parameters such as gender, family background, and market opportunity. This new wave of entrepreneurship in India is more dominated by factors of higher education, training and incubation, work experience prior to opening a new venture.