Global Alliance for Mass Entrepreneurship (GAME) -- a consortium of public and private organisations -- today said it aims to facilitate creation of 10 million new entrepreneurs and 50 million jobs by 2030, with a special focus on opportunities for women.
GAME has also received initial funding commitment of Rs 100 crore over three years from several Indian and global donors.
Speaking to PTI, former Microsoft India Chairman and GAME founder Ravi Venkatesan said job creation is a global challenge and given the size of the Indian market, the problem is of a higher magnitude for the country.
"It involves lots of stakeholders, and is interconnected with many other issues, ranging from infrastructure and access to finance to ease of doing business. It cannot be solved by government or corporates alone, it requires working together," he added.
Venkatesan said the alliance aims to catalyse a mass entrepreneurship movement in India, and aims to create 10 million new entrepreneurs, with at least half of these being women, and 50 million new jobs by 2030.
He said GAME has received initial funding commitment of Rs 100 crore over three years from several Indian and global donors.
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GAME also organised a day-long workshop, along with The Rockefeller Foundation and Dalberg Advisors, as the first step in identifying a collective vision, driving commitment from interested organisations and defining concrete action plan for the proposed alliance.
The event saw participation from nearly 50 organisations, including the Ministry of Skills Development and Entrepreneurship, Ministry of Rural Development, Ministry of Micro, Small & Medium Enterprises (MSME), state governments of Andhra Pradesh, Odisha, and Meghalaya, Tata Trusts, UNICEF, World Bank, Omidyar Network and Facebook India, among others.
"India has a major challenge when it comes to creating enough jobs. With nearly one million young people entering the working age population every month, India needs new engines of job creation. It was IT a decade back, we need a new wave," Venkatesan said.
He added that entrepreneurship is a critical lever of job creation at a large scale.
GAME will work with partners to enable "mass entrepreneurship", creating millions of 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 food caterer, to a motorbike repair shop or artisan collective. In most thriving economies, such businesses form the backbone of the economy and employment, he said.
"We have identified three pathways of intervention: nurturing entrepreneurial mindsets early; converting job seekers to entrepreneurs by creating opportunities and reducing risks associated with becoming an entrepreneur; and helping micro-entrepreneurs to grow and aspire for more by providing services like training, advisory/mentoring as well as access to finance," he said.
Venkatesan added that GAME will be like a platform enabling its partners to engage closely and carry out more effectively initiatives in this direction.