National Institute of Technology Rourkela

राष्ट्रीय प्रौद्योगिकी संस्थान राउरकेला

ଜାତୀୟ ପ୍ରଯୁକ୍ତି ପ୍ରତିଷ୍ଠାନ ରାଉରକେଲା

An Institute of National Importance

Seminar Details

Seminar Title:
Role of entrepreneurial attitude in fostering entrepreneurial intention: An empirical study on Indian Institutes of higher learning
Seminar Type:
Synopsis Seminar
Department:
School of Management
Speaker Name:
Swagatika Sahoo ( Rollno : 514sm5012)
Speaker Type:
Student
Venue:
Conference Hall, School of Management
Date and Time:
31 Jul 2024 10:00 am
Contact:
Prof. Rajeev Kumar Panda
Abstract:

The recent outbreak of the COVID-19 pandemic has unleashed not only a health crisis but also a profound economic upheaval on a global scale. The World Bank and the International Monetary Fund (IMF) have issued dire warnings, predicting that the virus could plunge the world economy into a recession more severe than the 2008 financial crisis. As a result, organizations like the World Bank and the Asian Development Bank (ADB) have revised their GDP forecasts, signaling a downward trend in economic growth. Sectors such as tourism, hospitality, and aviation have been particularly hard hit, leading to widespread layoffs. Amidst these challenges, India's economy has shown resilience, although signs of growth moderation have emerged (Sindhwaniet al., 2023). Policymakers face the daunting task of crafting macroeconomic responses to mitigate the pandemic's economic fallout.

Furthermore, the pandemic has prompted a reassessment of global dependencies, especially concerning China, the epicenter of both the virus and its economic repercussions. This has sparked discussions among global investors about diversifying away from China and fostering self-sufficiency in strategic sectors. India being the fifth largest economy stands to benefit from this shift, with its vast market, abundant human resources, and diverse production capabilities. In response to these challenges and opportunities, India's Prime Minister Narendra Modi announced the "AtmaNirbhar Bharat Abhiyan" (Self-Reliant India Campaign), aimed at bolstering small and medium-scale industries and fostering self-reliance. However, realizing this vision requires a shift in mindset among Indian entrepreneurs, emphasizing innovation and manufacturing over trading. This crisis has also accentuated the importance of research into technology-driven entrepreneurial ventures, which could drive national and regional economic development.

India has the significant potential to establish itself as a key player in the global entrepreneurship landscape, owing to its abundant talent pool, demographic advantage, and burgeoning market opportunities. Amongst multiple challenges that impede the realization of this potential, the most crucial one is the absence of a robust entrepreneurship ecosystem within institutions of higher learning. This study aims to address this gap by examining the factors influencing the entrepreneurial attitude of engineering students in Indian technical universities. By delving deep into the antecedents, including personal factors, educational programs, contextual factors, and institutional support, the research seeks to provide insights to enhance the existing entrepreneurial ecosystem and institutional practices. The study by using purposive sampling method collected responses from final year students across ten CFTIs (4 IITs, 4 NITs &2 IIITs) and analysed them, which validates the significant role of personality, context, & institutions in fostering entrepreneurial attitude and intention. The findings aim to benefit various stakeholders, including technical universities, faculty members, policy-makers, and educational institutions, by providing a framework to design effective entrepreneurship education programs and fostering an entrepreneurial mindset among students. Ultimately, the study strives to contribute to the development of strategies that nurture a vibrant and sustainable entrepreneurial ecosystem within Indian Institutions of Higher Learning, fostering innovation, economic growth, and societal advancement.