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Unit 2
ENTREPRENEURIAL DEVELOPMENT PROGRAMME
Unit II: Project Process: The start-up process, Project identification – selection of the project – project formulation and evaluation – feasibility analysis, Project Report. What Is a Startup?
The term startup refers to a company in the first
stages of operations. Startups are founded by one or more entrepreneurs who want to develop a product or service for which they believe there is demand. Understanding Startups Location Legal Structure Funding Pros Cons •More opportunities to learn •Risk of failure •Increased responsibility •Having to raise capital •Flexibility •Workplace benefits •High stress •Innovation is encouraged •Competitive business •Flexible hours environment Project identification A project is an economic activity with a well-defined objective with certain durations and gains to entrepreneurs.
A project is a scientifically evolved work plan devised to achieve a specific
objective within a specified period of time. Sources of Project Ideas