Global Alliance for Mass Entrepreneurship (GAME) and NITI Aayog have made an announcement regarding their partnership to promote vibrant entrepreneurship ecosystems across numerous states in India. Beginning with experimental sites in Nagpur, Visakhapatnam and Uttar Pradesh, this partnership will emphasize on advancing place based interventions.
By bringing together pertinent local stakeholders in that region's entrepreneurial ecosystem, such as the government, corporations, educational institutions, financial institutions, champion entrepreneurs, and community organizations, the collaboration aims to support local entrepreneurs. GAME and NITI Aayog want to turn entrepreneurship into a movement that propels economic expansion and job creation by developing regionally specific solutions that are suited to the particular difficulties of each area.
Speaking on the initiative, Ishtiyaque Ahmed, who is the Programme Director - Industry/MSME vertical at NITI Aayog, said, "Our approach is rooted in end-to-end facilitation and collaboration across sectors. There is a need to leverage a bottom-up approach and work closely with local entrepreneurs and champions, understand their needs and support them in addressing their challenges."
Pilot sites will implement proven methodologies of GAME under this partnership. These methodologies will focus on allowing entrepreneurs to start and scale their businesses. These interventions include access to finance, capacity building initiatives, community led initiatives and policy advocacy. The main aim is to form ecosystems that are self sustainable and can create widespread employment.
GAME President Ketul Acharya said, "At GAME, we believe that entrepreneurship has the power to transform lives and communities. Our partnership with NITI Aayog is a significant step toward realising our mission of enabling a movement of millions of people starting and growing businesses, using local inputs to serve local needs as well as other markets. Together, we aim to create thriving local ecosystems that inspire innovation and drive inclusive growth."
Since inception in 2018, GAME has been at the forefront of boosting entrepreneurship at a mass level. The organization has worked hard to reveal the potential of entrepreneurs all over India. Because of GAME initiatives, many female entrepreneurs became empowered. Further, the organization strengthened MSME ecosystems and encouraged sustainable business practices in currently underserved areas of the country.
The partnership between GAME and NITI Aayog will open the door for creative ideas. These ideas would tackle structural obstacles to entrepreneurship. Creating thriving local entrepreneurial ecosystems gives business owners access to resources including markets, mentors, peer networks and credit. This collaboration will cultivate a culture of entrepreneurship with local ownership and have a long lasting effect on India's economy by concentrating on local circumstances and establishing collaborations at all levels.
The reason for the establishment of Global Alliance for Mass Entrepreneurship (GAME) was to lead a nationwide movement of mass entrepreneurship. Since its inception in 2018, the organization has worked on shifting perceptions and nurturing entrepreneurship. It addresses challenges that include access to funding and markets as well as regulation through a collaborative mechanism across financial, educational and policy systems. So far, over 300,000 entrepreneurs have received assistance from GAME.
Source: PIB
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