New Delhi, Nov 17 (KNN) The Venture Capitalists and Angel Investors in the industry should also realize the significance of up scaling small scale businesses and promote them through mentorship and expertise in the domain, said Union Minister Rajiv Pratap Rudy.
 
He said the Government is working towards facilitating a friendlier environment for small scale entrepreneurs through ease of business processes and convenience in access to funding through MUDRA and other financial scheme.
 
Addressing a gathering of young entrepreneurs and representatives from the Industry and Start up ecosystem, the Minister of State (Independent Charge) for Skill Development and Entrepreneurship, Rudy on Monday highlighted the significance of linking skills with entrepreneurship to enable a constructive framework bridging the existing gap between skills and employment. 
 
Rudy emphasized on the necessity for young individuals to venture into the domain of entrepreneurship as well as for the existing entrepreneurs to mentor the enterprising ideas.
 
Reiterating the paradigm shift caused by the Start Ups in the United States of America, he mentioned that technological advancement and digital connectivity would essentially be the key to entrepreneurship and economic development. 
 
The Minister further underlined the change in markets led by the upcoming start-ups that have provided an easy experience for customers in almost all sectors including real estate, travel, electronic goods, fashion, health, automobile etc. 
 
Quoting the World Bank Study which mentions that only 5168 patents were granted in India as compared with 172113 in China, Rudy urged young individuals to look at the challenges and build innovative solutions to address them. (KNN Bureau)