The Entrepreneurship Development Institute of India (EDI), an autonomous body and not-for-profit institution, set up in 1983, is sponsored by apex financial institutions, namely the IDBI Bank Ltd, IFCI Ltd. ICICI Ltd and State Bank of India (SBI). It is supported by Gujarat Government. An acknowledged national resource institution, EDI is committed to entrepreneurship education, training and research. The institute strives to provide innovative training techniques, competent faculty support, consultancy and quality teaching & training material. It is considered as the Apex body for promotion of entrepreneurship.
The tenth biennial conference on entrepreneurship is to being held between Feb 20th – Feb 22nd, 2013 at EDI India, Ahmadabad. It is an established forum for researchers, educators and practitioners to share their ideas and research results with other researchers and thinkers in the field, interchange feedback and sharpen their own ideas.
True to this intent the schedule for the conference indicates large possibility of idea exchange and interaction. I am here at EDI Ahmadabad, for presenting a paper titled ‘Idea to Opportunity Maps (I2O Maps): An Alternative Starting Point in Venture Creation’ at the conference.
The paper has been based on the pressing need to bring more predictability into enterprise creation, make possible intelligent investment of already sparse resources and also the need to preserve and encourage entrepreneurial spirit. I am sharing the abstract of the paper that I am going to be presenting
Venture creation is typically marked with the spotting of a lucrative opportunity in the market or the appearance of a creative idea in the intellectual domain of the entrepreneur. Increasing democratization of information, relaxation of venture set-up hurdles and improving socio-economic conditions have catalysed both opportunity sighting and ideation. This has resulted in an enhanced rate of start-ups, which prima-facie appears to be a healthy and welcome trend. However, this has not changed the early mortality rate of start-ups. The strength that a venture then derives at the point of start when it is based on an independent idea or an opportunity is examined. A possible alternate start point through Idea to Opportunity mapping (I2O Maps) that combine the strength of these two independent key components is presented. A tool that leverages imperatives from the social and creative domain to validate and select the best possible I2O Maps is elaborated. The benefits of the tool and the framework are detailed. The framework and the tool should open up possibilities for further research in validating the influencers for venture creation at the pre-start phase.
The morning thought on strategy came as I was waiting to travel for this conference. Considering the start of the day, I am sufficiently charged up. I am looking forward to three days of exciting thought share and more days of useful pondering. Will share the thoughts as they arise with all of you!