Delhi to hold investor summit for student entrepreneurs

The idea, Sisodia said, is to prepare new and future generations to be job creators, rather than job seekers, for which a risk-taking bent of mind was needed. The state government has also prepared a new and comprehensive startup policy, which will support entrepreneurs, Sisodia said. 

Entrepreneurship is set to play a key part in the Delhi government’s plan for improving the incomes of people. In the state budget for FY22, Sisodia said raising the per capita income to Singapore levels by 2047, a jump of 16 times, was not impossible.  “A person who would be around 40 years of age by 2047 would be either in school or college now. Our people have the willingness for risk-taking in many walks of life, but when it comes to starting a business venture, the risk appetite is less,” Sisodia, who also holds the education portfolio, said, explaining why it was important to inculcate an entrepreneurial mindset from the school itself. 

The state in September announced a ‘business blaster’ scheme under its entrepreneurship mindset programme to give seed money to students in class 11 and 12 to start their ventures. 

“Out of this, students have started working on 51,000 ideas. We will hold an investor summit in March to showcase the top 100 or 200 among these ventures, the significant ones. These are future chief executives who need investor support. Investors could sign deals with these students. People will invest, I am sure,” Sisodia said. 

“India has the world’s top job seekers but if job providers are sitting in other countries, it is those economies that will progress. If we have to grow our economy, we need a mindset shift from job seeking to job creation,” the minister contended. 

Delhi has put an end to ‘raid raj’ on businesses and introduced a scheme for doorstep delivery of various documents and certificates, Sisodia said. “We are bringing out a new startup policy next month. In that, we will support entrepreneurs for startups. This will usher in a new environment for doing business. We will implement it from January. It will be a comprehensive policy,” he said. 

The Delhi government is trying to boost creation of new businesses at a time state governments are competing to attract capital and add more local jobs. At present, Delhi reports the second-largest number of companies incorporated every month after Maharashtra, according to data from the corporate affairs ministry. 

Sisodia said for students who demonstrate entrepreneurial skills, around 400 seats have been created in Delhi university colleges for admission without tests. These include IP University, Delhi Technology University, Netaji Subhas University of Technology, and Indira Gandhi Delhi Technical University for Women. “We will give seed money for business in colleges also. We have set up business incubation centres in universities. Normal seats will anyway be filled through the competitive exam,” the minister explained. 

Sisodia said 52% of India’s workforce was self-employed, mostly in the informal sector. “But they never were taught entrepreneurship and the mindset is of job seekers. They are forced to do what they are not taught to do. Had they been taught to be entrepreneurs, they would have earned well as self-employed,” he said.