Entrepreneurship and Innovation - MIT ID Innovation

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Introduction To Innovation and
Entrepreneurship MITID Innovation
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In this day and age, most people are content with
the mundane, the ordinary, but there are few
whose ions have no limits. Our innovation
courses are meant for brilliant students who want
to create change through their thinking, the ones
influenced by the future technologies and trends,
and those who strive to establish themselves and
leave a mark in the political, social, and
technological disciplines. These visionaries have
bold ideas and wish to shake up the status quo.
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The innovators of tomorrow are building a future
today, and we must provide them with the
resources and the guidance to carve the path that
is meant for them. This general introduction to
innovation and entrepreneurship will allow
curious young minds to explore their ideas and
open opportunities for them.
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What Exactly are Innovation and Entrepreneurship
Innovation and Entrepreneurship are two common
concepts found in political discussions as they
are aspects of economic growth and sustainable
development. There is often uncertainty regarding
these terms and what the connection between them
exactly is.
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An entrepreneur is an innovator in Schumpeter,
and this definition establishes the most
distinction between entrepreneurship, innovation,
and economic growth. Innovation has been
defined as implementing and executing a new or
significantly improved product. Innovation can be
about a process, a new marketing method, or a new
organizational method in workplace organization
or external relations and how these innovations
are enacted and administered.
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To understand the role of innovation in
entrepreneurship, take a look at our
article. Entrepreneurship and innovation are
essentially two sides of the same coin and can be
defined through their relation. Innovative
phenomena require some form of entrepreneurial
behaviour and practices. The implementation of
innovative ideas is significant to a successful
entrepreneur.
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Besides this introduction to innovation and
entrepreneurship, you can learn more about these
phenomena by checking out Peter F. Druckers
classic book  Innovation and Entrepreneurship.It
has been described as the first book that
acknowledges innovation and entrepreneurship as a
purposeful and systematic discipline. It also
analyzes the challenges and opportunities of an
entrepreneurial economy.
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Innovation and Entrepreneurship for Profitable
Development
Studies after studies have shown that
enthusiastic and ambitious entrepreneurial
practices manifest into rapid growth for gazelle
companies. The gazelles accounted for over 10
percent of the growth in GDP in the last period,
2004-2007.
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These 10 percent of companies together account
for the entire increase in employment and between
65 and 100 per cent of the growth in added value
regarding the period. The smallest gazelle
companies are responsible for the majority of the
employment growth, and the same is true of the
youngest companies. An established pattern and
significant studies demonstrate that innovative
practices are effective in the success trend of
gazelle companies.
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The economic effect of innovations is visible
when viewed with secondary innovations. In
general, radical innovations are very important
to expand and establish new markets. An article
by NITI Aayog talks about how India must promote
entrepreneurship and startups to generate growth,
prosperity, and well-being. It talks about
creating a holistic innovation and
entrepreneurial ecosystem in our educational
institutes. We at MIT ID Innovation share a
similar belief.
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MIT ID Innovation aims to Introduce Innovation
and Entrepreneurship to Young India
MIT Institute of Design was set up to establish
deeper connections and ensure quality in all
academic processes and outcomes. The institute's
vision is to create a holistic ecosystem that
prepares todays
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young minds to be design leaders who contribute
to industry and society. MIT ID focuses on
leading the way in creative and experimental
practices by young innovators. MIT ID Innovation
has new pedagogical approaches and meaningful
collaborations with diverse academic, industry,
research, and professional organizations.
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With a diverse student group and excellent staff,
our learners are presented with the best space
for intellectual growth. Enroll in our Innovation
focussed courses and upskill for tomorrow. Build
your innovation capability today.
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Conclusion
MIT ID Innovation Programme curates knowledge and
experiences that challenge the very paradigm of
evolution. And that's why we have set out to
define the future of industries, communities,
cities and ecosystems. MIT ID Innovation offers
the best Innovation Courses in Pune.
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Wed love to hear
from you.

• MIT INSTITUTE OF DESIGNRajbaug,, Loni-Kalbhor,
  Pune-412201

• 91-7038982225 / 91 9834092369

• innovation_at_mitid.edu.in