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OPPORTUNITIES FOR INNOVATION IN ENTREPRENEURSHIP

Article in International Journal of the Economics of Business · February 2019

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 Volume 7, Number 1, January – March’ 2018
ISSN (Print): 2279-0918, (Online): 2279-0926
PEZZOTTAITE JOURNALS SJIF (2016): 7.487, SJIF (2017): 9.02
H5-Index: 2, H5-Median: 3, H-Citations: 6

OPPORTUNITIES FOR INNOVATION IN ENTREPRENEURSHIP

Dr. Surjit Victor4 Mohammad Imtiaz5 Dr. Abrarul Haq6

ABSTRACT

In this article, I presented my views that there is a proper correlation between the opportunities and innovation in
entrepreneurship, as unexpected successes or failures within an industry. Initially, the concept of social enterprise, awarded
by the Nobel Prize winner, Dr. Muhammad Yunus, was emphasized when his brain was successful Grameen Bank in rural
Bangladesh to grant credit to the rural project because it depends largely on the successful implementation of those who Most
needed. Further, the profitable sectors in social entrepreneurship are discussed in brief. Who has chosen the education sector,
which has arisen from the fact that India has the highest number of young people in the world, who wants to be proud to get
value knowledge with top-notch training systems? And for the proper availability of opportunities with the aid of innovation
are being fetched by some of the leading corporate giants like Direcway, Wipro and NIIT, by starting the concept of virtual
classes, I tried to change the traditional style distributed through the physical layer's room. The study extends the existing
research in this area by focusing on the role of Government for the various amendments done and their suggested
implications for the future of the education sector as entrepreneurship are being provided.

KEYWORDS

Social Entrepreneurship, Corporate & Government Role, Future Implication etc.

INTRODUCTION

This paper seeks to identify the probability of innovation and opportunities in entrepreneurship increasing its importance in the
economy. As the needs of social projects are met, those are the most needed because the charity energy is divided into businesses,
making value in the business so that consumers are willing to pay for goods and services, and so on by doing, the entrepreneur of
social business earns profit which It is invested in social projects. Like in education sector, one of the profitable sectors in context
to India because of large population where it is expected would grow in coming years.

As various companies in education sector have fetched up efforts in order to boost up education level to the poor’s at their own
choice. Already many options are made available to the society in form of play schools, counseling centres, training institutes etc.
Therefore, the sharing of social entrepreneurship concept led to upgrade the level of whole country – ‘There is a big challenge for
big companies, from multinational companies to small enterprises, business cannot ignore the issue.

INNOVATION AND ENTERPRISE

The ideal relationship between innovation and entrepreneurship is both conceptual and sensitive as cognitive that will appear and
speak to the market to discover from it. Therefore, the topic is fine that the businessperson is generally market-driven and market
driven.

However, unlike many people's beliefs, it has also been said that novelty is not motivated by a bright thought; rather it is "orderly,
rational work, systematic." Innovation in a company or non-profit organization is mastered and can be integrated.

As unexpected achievements or unexpected failures in the industry often immediately points out.

For example: the chronicle of William Connor, a therapeutic industry seller who willed to start his organization, Conner appeared
and spoke to the surgeon about the troubles and intricacy of the surgeons.

In his conversation with the surgeon, Connor learned that cataract surgery was normal and generally easy, but surgery was
difficult and exciting for the doctor. During surgery, surgeons had to cut bonds, which included some threat.

In his discussion with the specialist, Connor discovered that waterfall surgery was typical and for the most part simple; however,
surgery was troublesome and energizing for the specialist. After obtaining a patent at his headquarters, Connor soon took over a

4
Assistant Professor, AMA International University, Behrain, s.victor@amaiu.edu.bh
5
Assistant Professor, Meerut Institute of Engineering & Technology, Uttar Pradesh, India, imtiaz_iff@yahoo.co.in
6
Assistant Professor, AMA International University, Behrain, abrarul.haq@amaiu.edu.bh

International Journal of Entrepreneurship & Business Environment Perspectives © Pezzottaite Journals 3811 |P a g e
 Volume 7, Number 1, January – March’ 2018
ISSN (Print): 2279-0918, (Online): 2279-0926
PEZZOTTAITE JOURNALS SJIF (2016): 7.487, SJIF (2017): 9.02
H5-Index: 2, H5-Median: 3, H-Citations: 6
niche market, where surgeons who had cataract surgery found their places of work. Now they did not need to bite bonds. In
addition, can solve them, with the requirement of the process, the market already exists for innovation.

Aside from this, most business people are as of now centered on a particular industry or market, and vast scale statistic changes
will not spur them to change their organization's consideration. Apart from this, there are entrepreneurial openings in the decline
trade too.

Occasionally, ambiguity is in the middle of the truth and the impression of reality in an industry, it can offer groundbreaking
opening.

For example: the development of container ship industry, while making the appropriate vessels faster and more cost-effective,
shipping companies were established when transit time was reduced and cost, was not really important. The transport were by
now very effective in transit.

Instead, the actual dilemma in the payload industry was stacking and emptying merchandise, which kept cargoes in ports & bound
into port values. When you put the shipping container, before ship it can be preloaded to the ground. After arriving at the shipping
port, pre-loaded containers can be loaded immediately on board. This will make shipping more cost effective and efficient. For
entrepreneurial management, there are three keys to construct an effective new association i.e.

Having a market center.

Financial foreknowledge, i.e., income spending plan and getting ready for fund’s needs.
Gathering a best executive team.

ENTREPRENEURSHIP

Business is the demonstration of being a business visionary, which can be characterized as " one who embraces developments,
fund and business intuition with an end goal to change advancements into financial products ". Thus, new associations may or
might be pieces of the introduction of develop associations because of experienced openings. The clearest type of business
enterprise is the introduction of a new business (known as a startup); in recent years, however, this period has been stretched out
to incorporate social and political types of enterprise. When the entrepreneurial spirit describes actions within a set or vast
institution, referred to as interval and may involve a business, large enterprises are occasional organizations.

A few business enterprise researcher and maker of the Global Entrepreneurship Monitor, " when they achieve their retirement
years, half of every single working man in the United States presumably have a time of independent work of at least one years;
one of every four may have occupied with independent work for at least six years. Partaking in another business creation is a
typical action among U.S. specialists throughout their vocations." In current years, the United States and Western Europe have
been a major driver of economic expansion.

The entrepreneurial exercises differ significantly relying upon the kind of association that has started. Entrepreneurship domains
create multiple employment opportunities in individual enterprises (from entrepreneurs to full-fledged enterprises only to large
enterprises), and there are now many types of organizations to bear entrepreneurs,

Particular government organizations,

Science parks,
Business hatcheries,
In addition, a few NGOs.

NEED OF SOCIAL ENTREPRENEURSHIP

Because of the financial burden that formal education placed on parents, less children be present at schools Stress and violence
have increased as poor competition for jobs and income Growth has been slowed, as families that have been successful in moving
out of poverty fall back into it is due to tightened government, trade and local budget, costly environmental protection and
hygiene efforts are at risk.

The government of India has not been able to promote Social entrepreneurship, which is now primarily emerging. The legislature
is extremely anxious to advance social business enterprise - not really subsidizing, advising or empowering it. What they do, it
does not hang.

International Journal of Entrepreneurship & Business Environment Perspectives © Pezzottaite Journals 3812 |P a g e
 Volume 7, Number 1, January – March’ 2018
ISSN (Print): 2279-0918, (Online): 2279-0926
PEZZOTTAITE JOURNALS SJIF (2016): 7.487, SJIF (2017): 9.02
H5-Index: 2, H5-Median: 3, H-Citations: 6
For instance, in Mumbai alone, NGOs teach in excess of 250,000 kids every day. The Government has asked these organizations
not to do so. While in some countries, when someone tries to start by himself, giving education, health care or empowerment, the
government often sets a siege to stop it from happening.

There are no identical people or geography in our country, so the impact remains a regional basis. There will be an increase in
social needs and the current economic climate, and as a result, the quantity of individuals focused on tending to these people will
increment. The meaning of social business enterprise has changed after some time. For the liberality of non-benefit organizations,
now to accomplish independence, social enterprise has created and created with time and prerequisites on the planet.

In India Social Entrepreneurship: The Complete Guide to Financial Support, Money-Making Sectors

Nobel Laureate in Social Entrepreneurship Muhammad Yunus gave birth to new rural bank, when he was able to help people
recover from deficiency in rural Bangladesh, by giving them advances without safeguard. Yunus built up his progressive
miniaturized scale acknowledge framework for the conviction that it would be a cash making and adaptable instrument to battle
neediness. With serving the society, it was realized that profits can also be made, provided you treat earnings as a methods and
not the final result.

The effect of this institution in the lower part of the pyramid depends on the unbeaten execution of individuals who require it
mainly. Without mentioning India, we cannot complete the discussion of BOP; where several millions truly require a compelling
development in social business enterprise to enhance their wellbeing. There is a characteristic propensity towards country
territories as 70% of the populace lives in the edge regions. In recent times, the rural landscape of the country has emerged as an
attractive alternative to the conventional financial system. Different association view rural landscape as potential markets, leading
to a range of groundbreaking social enterprise way out, centered around and emerging from rural areas.

In the current economic slump, the ubiquity of SE is developing at a high pace in India. Over the most recent three years to an
ever-increasing extent, youngsters have developed attention in this area. This new emerging area also has an early venture capital
who wish to finance with many people who are looking for such projects, which have great potential. Previously, organizations
were given the solution of social problems the ability to become ideal, altruistic, lack of business insight or entrepreneurship.
However, as the social sector-getting merge with private segment, both have started to understand that to build sustainable
institutions only one move toward either unadulterated altruistic or unadulterated entrepreneur is unacceptable.

In current time, 'not-for-benefit' has been send to the back somewhat as a result of responsible moneylenders and social ventures
are being run more like organizations today. Business center is on small groups, who wish to change themselves, cannot use the
community, the situation, but no funding.

Social entrepreneurship alone is an integral mix of models of space in India with a billion-idea structure. Billion idea requires a
lucrative model, which is included under the pyramid. The huge part of these models is adaptable and replicable.

Few for-profit Social Business Models

Companies Activities Affect Future Plan

A little world Micro banking is empowering micro
business
VNL Builds telecom equipment that helps
mobile operators gain access to rural
markets for profit
Childline Country’s first toll-free tele-helpline
for street children in distress
Navratan Hospital Delivering affordable healthcare to
India the masses worldwide
Barefoot college solar energy, water, education,
health care, rural handicrafts,
people’s action, communication,
women’s empowerment and
wasteland development
Arvind Eye Eliminating needless blindness by
Hospital taking its services to rural India
BASIX India Sustainable livelihoods to the rural
Customer base crosses 3 million
70 station in Rajasthan
9.6 million calls, 3 million children,
73 cities, 10 years
5000 bed facility completed in phase
1 bed facility by 2016
1,000 Barefoot specialists in 1,000
towns, contacts 500,000 individuals
with essential administrations, for
example, drinking water, human
services, and instruction
In last year alone 2.5 million patients
were treated and over 3 lakh
surgeries were performed
Over a million and a half customer
Through innovative skill
touch billion people
Replicating and scaling
it worldwide
600 + districts by 2013
Health city with 30,000
10,00,000 people by the
end of 2016
To replicate it in all
states of India
-

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PEZZOTTAITE JOURNALS
poor and women
CraftsBridge A bridge between customers
worldwide and crafts persons,
designers
D light Superb way out for families living
without dependable power
IDE India Giving long term way out for
neediness, craving and lack of
healthy sustenance
Rang Sutra Economical vocations for craftsmans
and ranchers, by making top quality
hand-made items in view of the
standards of reasonable exchange
Lijjat Papad Women Empowerment
Selco Solar India Sustainable power solutions and
services to under-served households
and businesses.
Unltd India Angel investor and incubator for
social entrepreneurs
Suminter India Internationally certified organic
Organics agricultural produce
SKS Microfinance Small loans without collaterals
Volume 7, Number 1, January – March’ 2018
ISSN (Print): 2279-0918, (Online): 2279-0926
SJIF (2016): 7.487, SJIF (2017): 9.02
H5-Index: 2, H5-Median: 3, H-Citations: 6
N/A To tap 6 million village
people associated with
the handicrafts sector
10 million 50 million by 2015
19 million finishing scarcity in the
developing world
Approx 2500 artisans utilize 5000 by 2015
4600 women employed Plans to consume 6000
by 2010
95,000 rural area covered Cut down the cost of
sunlight based hardware
by 75% by 2012
Every projects has, on average, World where people
generated 1.6 new jobs make a move to realize
constructive social
change
quality crop price to more than 7000 Scale this model broadly
farmers
5.3 Million Customers Take Micro finance to
every village

Another outstanding transformation is participation of major money related establishments in social business enterprise. This
trend began in microfinance when Sequoia Capital invested in microfinance.

Open endeavor reserves measure their interests in social, natural and customary money related returns. The Akoman finance
anticipates that every investment in the five-year period will affect millions of people. As far as assets, money related and
operational (forms and inward frameworks) and social effect (results and yields). The large figure of crowd affected, the result is,
how they affect them.

Funds Available Now

1. Acumen Fund: Supports sustainable projects with poor goods and services at reasonable costs. Primary focus on water,
housing, healthcare, energy and agriculture.
Companies contributed in 12 Fund size: $40 million (approx.).

2. Ventur East: It made lucrative market that serve to under-served markets.

Concentrating to fulfill India’s home needs by supporting early-stage / fast-growth businesses.
Companies invested in Over 50 (including 25 social enterprises) Fund size $250 million.

3. Oasis Fund: It helps projects who develop new way out that provide poor access to vital goods and services. More endow in
equities, with loans.
Investments normal range between $1 million to $6 million Companies invested in 4 Fund size $30 million (still
raising).

4. Song: It underpins business visionaries in high-development segments like instruction and farming and sustenance, training,
healthcare, financial services; basic utilities (waste, water, rural telecom, affordable housing, etc.) that are lined up with
comprehensive development Companies put resources into None Fund measure $17 million.

5. Aavishkaar India Micro Venture Capital: It produces practical changes in the financial development of the pyramid and
increased entrepreneurship.
Ventures to date have concentrated vigorously on the provincial and agro innovation parts.
Business invested in 17 Fund size Rs 60 crore (approx. $14 million).

International Journal of Entrepreneurship & Business Environment Perspectives © Pezzottaite Journals 3814 |P a g e
 Volume 7, Number 1, January – March’ 2018
ISSN (Print): 2279-0918, (Online): 2279-0926
PEZZOTTAITE JOURNALS SJIF (2016): 7.487, SJIF (2017): 9.02
H5-Index: 2, H5-Median: 3, H-Citations: 6
6. Gray Matters Capital: It puts resources into the data, correspondence and innovation space to connect the urban-provincial
digital gap Companies It invested in 4 Fund size $12 million.

7. Elevar Equity II: It produces market-based way out for scarcity abolition.
Make attention on sectors like, education, information and healthcare.
Companies invested in 1 (another two in micro-finance ventures) Fund size $40 million (additional fund-raising on).

Be that as it may, there is a division between the individuals who approach open and / or commercial funds and those who rely on
private communications and aid, which are aimed at raising funds. The ratio is about 50/50.

Foreign grants: 8%
Bank Loan: 13%
Loan from Family and friends: 21%
Charitable Organization: 5%
Government Funding: 3%
Domestic grants: 8%
Debt (credit loans): 11%
Equity Investors: 21 %
Others: 10%

As per the benefits review, forty- fifty percent of respondents received money from commercial sources whereas 21 percent of
respondents make their money source from private links like family and peers; another 21% wait on funds and aids from NGOs.
The system of money is very difficult for a social institution in India. What's more, knowing in which segment to back is
significantly more troublesome.

Social Entrepreneurship in India: Profitable Sectors

1. Education: Sectors that have achieved a profitable Record of accomplishment: The education sector has revealed a certain
level of financial firmness and rise potential.
First, it represents the largest number of profitable enterprises (38 per cent) among other institutions, and is one of the
few losers (24 per cent).
Second, the note says, there is good potential for development. 38% of education institutions are also collapsing, that
says the number of institutions in same area can grow in recent time.

2. Health: Areas of big development capacity although the region currently generate very few useful projects, the lowest
proportion (13%) is the losing institution. More importantly, in 73%, the brakes in the health sector are also the largest area of
business. If these companies start to turn the advantage, many successful and useful projects can be maintained in the health
sector.

3. Rural Development: To see the area of future development: Although the largest number of social sectors in this area, at this
times this is the largest losing area. However, rural development showed the highest increase in returns last year, so the store can
be more surprising.

Compared to profit, there is more ventilation because it is true that the percentage of losing companies is constantly declining as
older companies grow but there is almost no inequality in the number of organizations that make profits in the age groups. Many
projects stop the deficit because of being old but do not start gains; it is surprising that only start to break, even after running 11
years or more, the proportion of beneficial companies is only 27%. Therefore, you can clearly see that there is no easy task to earn
profit through social projects.

OPPORTUNITIES IN EDUCATION SECTOR

The education sector offers probable business opportunities stemming from the detail that India is the major group of young
people in the world who want to demand class education with top-notch training systems, but also the fact that potential
employment is a difference between the numbers of training institutes involved. It is wide enough to train. Parallel, giving a
noteworthy arrangement to instruction administrators and specialist co-ops like play schools, schools, organizations, vocational
trainings, counselors, development & training programs, professional coaching operators to get into franchising or grow an
existing franchise network as there is part to learn about establishment worldview in the global training administration industry to
help them to cut a specialty for themselves.

International Journal of Entrepreneurship & Business Environment Perspectives © Pezzottaite Journals 3815 |P a g e
 Volume 7, Number 1, January – March’ 2018
ISSN (Print): 2279-0918, (Online): 2279-0926
PEZZOTTAITE JOURNALS SJIF (2016): 7.487, SJIF (2017): 9.02
H5-Index: 2, H5-Median: 3, H-Citations: 6
The growth of country's education sector is estimated at 35% among new concepts and will continue to keep markets in mind in
the coming years and in India, as well as many businessmen. Given the risks and diversification of lucrative returns from business
to business, the franchise ensures a harmless way to be the trademark owner in particular in the education sector, and is also the
least affected region in the recession. As noted in previous studies, education is the second highest domestic expenditure after
food. Currently in India, not only middle or upper middle class, even poor families expend 20 per cent of their disposable income
on Education Institutions; then expose their children to 1.2 million, mostly unprepared and short-staffed government school across
the country. Private educational organizations are usually supposed as trademarks of quality education and given the demand,
Indian education entrepreneur are prepared for huge development plans, which offer will push the education sector to grow
multifold. Growth in the education sector has been seen, India education providers from various surroundings starting from an
recognized, international and national to upsurge the fact that franchise is the next route of growth for brands in the country.
There are around 1200 franchisors in the country, having over 100000 franchisees across country. Out of this, approximately, 32
per cent are in the education sector. Foreign investment through franchising will be more willing in the areas of child
development, e-learning, teacher training and completion of schools such as IT and BPO training. In India, the most privileged
sector is the education sector and it is interesting that franchise outlets are far more than companies owned by the company.

Education companies which ranked in Top 100 list:

Crestcom
Internationals Veta
NIIT
NIIT E-Guru
Zee High
Brainworks Zee Institute of Creative
Arts Promise
Veta
I Play I Learn
Career Launcher
Eurokids
Kidzee
Aisect
Shemrock & Shemford
Schools Roots To Wings
D. Newage School of Design

The education industry - Once seen as a special commitment to government and non-government organizations - now provide
opening for research and personal venture.

For instance,

1. The Spark Group founded by entrepreneurs from MIT is creating a branded chain of $2 schools across India
(Spark School-in-a-Box). The establishments will be claimed and worked by private business visionaries.

Spark is expected to maximize the results of the initiative by using the power of grassroots projects. This
model will give a Plug and Play bundle that accompanies all things needed to begin and run bring down level
schools - from the curriculum to the fee infrastructure. The idea is to take entrepreneur from "ink on the
contract" to "chalk on the board" within 100 days.
This school chain will be adjusted for neighborhood necessities - but then be incorporated under one brand
that will be right away perceived by each poor family in India. Backed by rigorous academic research from
renowned universities, Spark plans to make sustainable investments in schools by providing very
important resources and value-added services.

2. The Center for Civil Society has as of late propelled the Education Choice battle through which they are giving
vouchers to poor understudies:

The idea behind Education Vouchers is to train the poor students so that they can go to their preferred school.
Their choice in turn creates students to attract and maintain competition among schools. The option of
working together and of competition provides access to quality education for all.
Other noteworthy efforts in education include

International Journal of Entrepreneurship & Business Environment Perspectives © Pezzottaite Journals 3816 |P a g e
 Volume 7, Number 1, January – March’ 2018
ISSN (Print): 2279-0918, (Online): 2279-0926
PEZZOTTAITE JOURNALS SJIF (2016): 7.487, SJIF (2017): 9.02
H5-Index: 2, H5-Median: 3, H-Citations: 6
3. Microsoft’s Partners in Learning program,
4. Hole-in-the-Wall Education (a joint venture between NIIT and the IFC)
5. Wipro’s education initiatives with government schools.

These means will take far in building up the correct agreement between capable accomplices, open and private, benefit and non-
benefit.

India is at a basic stage. On the off chance that we neglect to set out on a procedure of foundational changes, the statistic profit
may perpetually be lost. The poor are driving a noiseless unrest in spite of administrative obstacles and difficulties; let us bolster
their endeavors by manufacturing energetic associations amongst government and private ventures.

INNOVATIVE PRACTICES OF COMPANIES IN EDUCATION SECTOR

Ground-breaking exercise in the area of academics and training, planned by majorly by three Indian enterprises’ i.e. Direcway,
Wipro and NIIT.

Direcway

(Imagine a classroom free of professors, where the students attend classes with a cup of tea and having some snacks without be
bothered about what the professors would say.)

It clears up how Direcway endeavor to change the customary method of scholastics, passing on through physical classrooms, by
setting up the idea of commonsense classroom.

Direcway, a subsidiary of a leading telecom company in India – Hughes Escorts Communications Limited come in
into ventures with several premier institutes in India to offer satellite-based learning programs. Contrary to traditional
distance learning courses offered by many universities, Direcway offered courses through studios associated with
clients at various areas.
Alliance with key management institutes in India, Direcway, to provide management courses for officers who work
through satellite learning programs.
In this session, allows two-way talks between course coaches and students (Refer Exhibit I for Visuals on Direcway).
In August 2002, Xavier Labor Research Institute (XLRI), one of India's driving administration organizations, fixing
up with Direcway to launch a satellite-based business administration program.
The 14-month, 360-hour course priced at Rs. 1, 65,000 was targeted at officers with two or more years of experience.
The course was offered in 12 cities – Mumbai, Delhi, Kolkata, Chennai, Bangalore, Hyderabad, Chandigarh, Tiruchi,
Pune, Kochi, Coimbatore and Madurai.

Wipro

(Visualize a school where students are divided into groups and discussing various topics of their own subject, while the educator
offers the role of a mediator imparting his/her own inputs as well as answering questions raised by students.)

Discussed in a report how IT is used - Wipro attempted to change the way academics is transferring to the primary
school children by launching the "Applying Thought in Schools" initiative.
Wipro has been associated with NGOs throughout the country to train teachers to educate children in an efficient
manner, through its 'Applying Thought in Schools' program. This has proved to be very useful for the nominated
teachers in the program.
Teachers' Empowerment Program as part of Wipro's 'Applying Thought in Schools' program has assists a educator to
analyze themselves and modify their teaching methodology so that students retain knowledge for lifetime. The plan is
so child-centric.

NIIT

(Dream an Indian village where computers and internet connections are equipped with solar powered vehicles and have been
stopped by villagers who are concerned in accessing email or checking crop information.)

Ultimately discusses how NIIT managed innovative marketing strategies to succeed in the stable IT training market
through recruitment.

International Journal of Entrepreneurship & Business Environment Perspectives © Pezzottaite Journals 3817 |P a g e
 Volume 7, Number 1, January – March’ 2018
ISSN (Print): 2279-0918, (Online): 2279-0926
PEZZOTTAITE JOURNALS SJIF (2016): 7.487, SJIF (2017): 9.02
H5-Index: 2, H5-Median: 3, H-Citations: 6
In all these cities, Hughes joined franchise agreements with institutions willing to offer course. Understudies of these
urban communities could essentially go to classes directed at the XLRI grounds in Jamshedpur (Jharkhand). XLRI
through Direcway began its (PGDBM) course.

INNOVATION AT GLOBAL LEVEL

World Innovation Summit for Education

Formation 2009
Type Non-profit organization
Headquarters Doha, Qatar
Region served Worldwide
Website http://www.wise-qatar.org/

World Innovation Summit for Education - WISE - is a worldwide activity situated in Doha, Qatar. It was built up by the non-
benefit association Qatar Foundation for Education, Science and Community Development, and set under the support of Her
Highness Sheikha Mozah Bint Nasser Al Missned.

The Summit

Objective

Improving Education Systems: Discover new models of leadership, curriculum and open education, and multi-
stakeholder partnerships.

Exploring Innovative Trends: And from the development of cognitive science and social media, using mobile and
mobile devices, the study of national and international trends about creative teaching styles in poor countries.

Funding Education: Creating resources for education, especially in times of global economic crisis

The WISE Awards 2009

WISE has also established the WISE award, which focuses on awarding six solid accomplishments from around the world, who
have shown significant influence in the field of academic practices.

In 2009, the WISE Awards were divided into three categories aligned with WISE 2009 summit themes: pluralism, sustainability
and innovation:

Pluralism: “Instructive exercises that expressly produce more noteworthy regard and comprehension between groups
improve decent variety, or increment access and balance to training.”

Sustainability: “Activities that offer new ways to deal with instructive supportability through fitting subsidizing
”
systems, great administration, appropriate accreditation and quality control structure

Innovation: “Instructive exercises that utilization data and correspondence advancements and other inventive intends
to produce new and energizing open doors for access and conveyance of learning content that better empowered
individuals to confront the decent variety of the present difficulties.”

RECENT AMENDMENTS BY CENTRAL GOVERNMENT

Education Minister Mr. Sibal calls for worth education, excellence in science research in Universities.

At the 98th Indian Science Congress at SRM University, he emphasized on:

Provide educational opportunities for all those who wish and their
needs. Second, the ability to reduce financial constraints; and
Third, to ensure quality and accountability, what is taught is relevant and at the global level, providing good value for
money. "

International Journal of Entrepreneurship & Business Environment Perspectives © Pezzottaite Journals 3818 |P a g e
 Volume 7, Number 1, January – March’ 2018
ISSN (Print): 2279-0918, (Online): 2279-0926
PEZZOTTAITE JOURNALS SJIF (2016): 7.487, SJIF (2017): 9.02
H5-Index: 2, H5-Median: 3, H-Citations: 6
STEPS TO BE UNDERTAKEN

Regarding higher education, Education minister statement focused on:

The Gross Enrolment Ratio higher education in is today around a mere 15 percent. Changing labor markets and
demography leads to increased demand for higher education.
This has come mainly from two groups that traditionally were not known to attend universities: a "rising" lower-
middle class and women.

As this will necessitate:

There is a plan to open many universities and colleges in the coming years, which is expected to be the minimum doubling
in the next decade. We should also broaden our skill base at some level of excellence at the national level and beyond
Foster's innovation.

The National Accreditation Authority for 2010 has introduced higher education institutions in Parliament to provide an
institutional structure for compulsory recognition and purpose.

The Education Finance Corporation will also be established to refinance student loan, especially demanding to pursue
vocational courses from low-income families, non-profit organizations also provide more appropriate rules and less
profitable institutions to access low-cost funds than currently available options.,"
The National Commission for Higher Education and Research (NCHER) will ensure institutions maintain high
standards.
The National Mission on Education aims to link all colleges on the web.
In addition, fourteen new 'Innovation Universities' comparable to the best in the world are to be set up.

CONCLUSION

The above theme can be concluded as innovation in education sector, because the organizations of the projects will improve the
standards of the entire institute, develop student performance in all colleges through which the nation's naked progress can be
seen. Social projects contributing in various projects to combat poverty have proved to be cost-effective and measurable weapons,
because the effect of this type of project depends largely on the successful implementation of those who are higher, the pyramid
below. Therefore, it is realized that profits can be done with community service, if the profits should be treated as a methods and
not the final product. Thus, through development of social penetration skills, the country's economy is growing and competes in
the international level.

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