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A global coalition aims to create 10M entrepreneurs, 50M jobs by 2030 in India

August 23, 2018

With the goal to catalyse a mass entrepreneurship programme across the country, Indian and international partners announced a Global Alliance Mass Entrepreneurship (GAME) coalition on Tuesday.

Ravi Venkatesan, former Chairman of Bank of Baroda and Microsoft India and Founder of GAME, had recently written that “Mass entrepreneurship refers to the millions of ordinary local businesses that typically hire five or more people, use local inputs and serve local needs in every community. These range from a beauty salon or a food caterer to a motorbike repair shop or artisan collective. In most thriving economies, they form the backbone of the economy and employment.”

In keeping with this scale, a statement said that GAME has received an initial funding commitment of Rs 100 crore over three years from Indian and global donors. The goal is to create 10 million entrepreneurs and at least half will be women, and 50 million new jobs by 2030.

Venkatesan also believes that nurturing entrepreneurial mindsets early and reducing the risk for first-time entrepreneurs can make it work in India.

KP Krishnan, Secretary, Ministry of Skill Development and Entrepreneurship, said in a statement that a fundamental idea in creating the ministry was that “skilling should lead to livelihoods generation. The missing link is the ecosystem for creation of mass entrepreneurship. GAME, with potential solutions to this problem, is most timely."

"Helping more Indian families rise out of poverty remains a challenge we're committed to tackling; creating thousands of new companies and millions of new jobs is key to that. This alliance can make that goal a reality," Christine Heenan, Vice President for Policy, Partnerships and Communications, The Rockefeller Foundation, told IANS.

Announcing the formal launch of the initiative, Venkatesan added that GAME seeks to create a “focused autonomous organisation”, and bring together public, private, and civil society organisations.

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