Chennai, Jan 22 (UNI) Indian entrepreneurs in general find underlying entrepreneurial ecosystem 'moderately acceptable' meaning just passing grade,according to a joint study by TiE and KPMG measuring the 'Entrepreneurial Confidence Index (ECI)' in ten states of the sub-continent.
Based purely on the perceptions of the entrepreneurs rather than any factual analysis of the factors considered and measured, the study intended to be the first step in a proposed annual exercise to identify elements involved and benchmark the development of a conducive entrepreneurial ecosystem across India.
The study further revealed despite the poor state of physical and soft infrastructure in most states in India, the entrepreneurs surveyed found the existing status 'moderately to generally acceptable.' Expectations varied across states with respondents from states generally considered to be leaders in entrepreneurship, expecting more from their ecosystem thereby holding the state to a higher standard.
Entrepreneurs starting new businesses were happier with the ecosystem as compared to those in early stages of developing their business While most of the survey respondents were from the Services Sector, entrepreneurs from the Manufacturing Sector were more bullish about the state of the ecosystem.
At the same time, some widely held assumptions were reinforced including risk capital still not being available in the desired amounts.
Governance issues and local environment in the ecosystem got failing grades,the study observed.
UNI SNR GM 1618