Why developing nations need entrepreneurs

Emeka writes about the growing problems in developing countries and why all such countries need entrepreneurs. (link)

The problem is that we mistake that importance of technical ability, and vastly underestimate the importance of entrepreneurial ability. Our schools are organized to produce technicians in all fields, and from age 16 a student must narrow down their course of formal study (for life in most cases) to four subject areas and General Paper.
The truth is that educating another lawyer, doctor or accountant is unlikely to contribute much to our GDP. Narrow technical abilities are admirable, but nowhere near as vital to countries in which the large mass of people cannot afford to use them.
What most developing countries need are not more professionals with masters degrees in contract law, but more entrepreneurs who are willing to hire ever increasing numbers of ordinary people.

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If you think about India, all of this is true of all places except for Gujrat. For they say that in any other part of the country, if your son is useless, he starts a business, but in Gujrat it is the smarter breed of Gujjus who get into business. And who says they don't have anything to show for it.

Issues with starting up in developing countries

Atif comes out with a beautiful article about the problems of starting up in a developing country. He seems to be back after three years, but looks like he's still in touch ;).

Here are the main points that he mentions :
1. Political stability
2. Government Oversight
3. Financing

(Link)

Here in India, things are almost similar to the countries that he is discussing about ie Pakistan, Nigeria, Bangladesh. Ofcourse when I compare, Political stablitily is still not that much of an issue. Military comes in once in thirty years, which gives you enough time to plan.

Government is a problem. It takes three weeks to register a company in the US. In India it takes well over a month, no matter what they say. Everything is supposed to be online now, but it still takes a lot of time. And the reasons are aplenty. From websites not handling the load to issues with getting registered at the government office. More so, since the government started taxing pass through income, it seems things might get a little more difficult. However, there are a few government initiatives coming up, like this, I am not sure I know too many people who rely on it.

Financing is also a problem. Starting up right after college is a complete no no because nobody would fund you to startup. Even after three or four years things are not as easy. Everybody looks for a team with a combined work ex of close to twenty-twenty five years, before they even think about giving you the money. Sadly, there is not much which can be done, and I hope things do improve as time progresses.

Entrepreneurs in Indian Engineering Colleges

Matt McGann from MIT writes about a few about his collegues in engineering colleges who are starting up. He referes to a company called 'Dropbox', which I can say I have heard about before too. (Link)

How long would it take before it starts happening in engineering colleges in India. Right now, all that you hear about is ragging (which I should say I'm not really against, if people stay in the correct state of mind, which they usually do).

From my batch in college, not more than 4 out of a 180 have started up. And this is after two and a half years. While we were in college there was no way we could even think about something like this. Maybe time has come for a change.

Farmers turn entrepreneurs

The Economic Times brings out an interesting article about farmers in Punjab turning entrepreneurs. The Punjabis have always been famous for having the business gene, and now we have even more examples.

An example is Jaswinder Singh Sangha — a potato grower from Jalandhar — who has become the authorised franchisee of the Subway outlet in the city. Another member of his extended family (also in the potato business) has recently set up a unit in Jalandhar which makes French fries and supplies it to several top food chains including McDonald’s.

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