UP Investor’s Summit has created positive environment in state; majority of youth prefer entrepreneurship over full time job: Survey

New Delhi, Aug 23 (KNN) Investor Summit in Uttar Pradesh has created a positive environment in the state and the benefits will be realized by society at larger after few years, said 3^rd Eye Advisory (3EA) study report.

3rd Eye Advisory (3EA) conducted a study in Uttar Pradesh after the two events, UP Investor’s Summit, which was held on July 21 and 22 and ‘Ground Breaking Ceremony’ held on July 29, where government announced an investment of over Rs 60,000 crore in 81 projects of Uttar Pradesh.

Primary and secondary data collected through focused group interviews of MSME's and nano entrepreneurs, with a sample size of 200, across districts of central UP have revealed that though the benefits of investor summits will be realized by society at large after minimum 2 financial years, a positive eco-system has been created.

Almost 80 per cent of sample covered mentioned that they would prefer entrepreneurship over full-time jobs for their livelihood.

Young qualified professionals having engineering and management backgrounds were covered in the survey.

The surveys revealed that the younger generations of UP have shifted their focus from full-time jobs to become entrepreneurs.

They are trying to establish start-ups related to their domain and look-forward to incubation and financing support, said study report.

Need for co-working office, outsourcing services and MSME consulting are some of the examples of the changing trend observed in the survey.

3EA has also mentioned in one of their reports that start-ups and MSME's entrepreneurship projects require 360-degree hand holding and support.

 The UP Investors Summit aimed at showcasing investment opportunities and potential to promote industrialization in the country's most populous state.

Memorandums of Understanding (MoUs) for ventures worth over Rs. 4.28 lakh crore were signed across diverse sectors like inexhaustible energy, capital projects and infrastructure, power, IT and tourism.

3rd Eye Advisory Ltd. CEO, Vibhor Misra stated that it is important for the state government to ensure investors' confidence in doing business in the state and that their investments would be safe.

 He said that not only big corporates, but given a large population base there is vast potential for small and innovative start-ups in the state that can be developed with initial incubation support.

Proactive facilitation, simplified procedures and speedy time-bound clearances would enhance the confidence of investors, he added.

He also informed that 3EA is working on a campaign against the use of thermocol and plastic-ware.

The project has the potential to generate an opportunity for around five hundred entrepreneurs, thereby creating employment for almost ten thousand skilled, semi-skilled and unskilled workers.

The campaign presents a scope of setting up of more than hundred factories for a substitute product of thermocol and plastic-ware.

The project, will not only contribute towards employment generation and entrepreneurship thereby increasing the GDP of the Uttar Pradesh, but will also lend support to the government's 'Swach Bharat Mission', Misra added.

To help the government realize its objective of promoting industries in the state, 3EA, a Mumbai based MSME consulting group, offers business consulting and helps businesses in management consulting, marketing, branding, financing, human resource planning, restructuring and Information Technology solutions, all under one roof. (With Inputs from media report)