Entrepreneurship Development By Odia Americans Odias Business Essay

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Background: Entrepreneurship development by Odia-Americans (Odias) in the Americas and Odisha (India) is a recent phenomenon and challenging topic for discussions. The idea of entrepreneurship by Odias is just beginning and offers new types of opportunities. The OSA is primarily an Odia socio-cultural non-profit organization with new interests in contributing to the entrepreneurship development by odia youth. Kalinga Youth Entrepreneurship Award (KYEA) program during the OSA 2009 is going to be a new event. We appreciate the generous contributions of Mr. Dan Mishra (sponsorer), Dr. Ranjan Dash (coordinator), the volunteer team and OSA (host) for setting up the KYEA event. Odia-American name and identity should be globally promoted as an ethnic Indian brand. The vision of Odia entrepreneurship ideas are economic/social/cultural/community/organizational/people development and change in business cultures in Americas, Odisha and wealth creation through entrepreneurship and new ventures development.

Kalinga Youth Entrepreneurship Award (KYEA): The proposed KYEA program organized by OSA can provide a good learning experience for the old and new generation Odias for both

social entrepreneurship and commercial entrepreneurship developments in Americas and Odisha.

The Role of The OSA: OSA and its members can contribute in the following two areas:

1. Social Entrepreneurship Development - OSA (organization) and its members have had certain experiences in community socio-economic development oriented projects. The focus should be Giving Back to Odisha, the roots of the Odias. The foundation, trust, society, NGO, 501(c)(3) and related non-profit entities are working models to pursue social entrepreneurship that are developmental, philanthropic, voluntary and societal.

2. Commercial Entrepreneurship Development - Can be challenging, but mentoring, information exchanges and early resources may be possible, if appropriate networks may be built and leveraged. Issues-cultural, needs confidentiality and appropriate mechanism. StartUp, New Venture, or Company (Inc., S Corporation, LLC, LP, Limited, Pvt. Ltd. and other for-profit entities) are functional models to pursue commercial entrepreneurship.

The Top-10 Strategic Ideas on Opportunities and Challenges in Creating Various Types of Entrepreneurship Models by Odia-Americans (Odias) in Americas and Odisha

Opportunities:

1. Technology Entrepreneurship - Needs Discovery, Eureka Moments, R&D, Innovation, Invention, Science/Technology/Engineering/Design/Creativity, Intellectual Property/Patents, New Products, Services and Solutions. Academic and/or Industry experiences are the requirements. The technology sectors can be biotechnology, nanotechnology, information technology, consumer technology, internet and knowledge sectors. Both first generation and second generation Odias may pursue this model.

2. Academic/Educational Entrepreneurship - Barriers to entry in the Americas, because of established, competitive, quality educational and research systems. High potential opportunity in Odisha. Quality and offerings are issues in Odisha. The human resources, training and placements offer potential opportunities.

3. Micro Entrepreneurship - Microfinance, nanofinance, small credits, soft loans, micro-business and related tiny businesses. Barriers to entry in the Americas. However,

micro-entrepreneurship is a big opportunity in Odisha, because of under-development.

4. Career Entrepreneurship - As a new career path. Both first generation and new generation Odias may consider this evolving career entrepreneurship model.

5. Shop-Owner Entrepreneurship - Dokan/Store Model (retailing) is the most successful entrepreneurship model in Odisha. The typical American store model to sell products to the American community/immigrant ethnic community is a gap area for the Odias in the Americas.

6. Accidental Entrepreneurship - Typical model where people trained in certain areas pursue a business opportunity as an accidental entrepreneur in his/her area of expertise or in a totally different area. America is a land of opportunity and owning your business is an American dream.

7. Investor Entrepreneurship - Typically this category may use earned wealth/investments by acting as an angel investor, partner, seed capital provider, venture capitalist & co-founder of firms.

8. Social Entrepreneurship - Social ventures that contributes to community development (local/national/international) in various areas such as: education, poverty, health, agriculture, food and socio-economic development. This is a feasible model that can create an impact in human lives and communities where service to be provided.

9. Virtual Entrepreneurship - Emerging model. Exploratory. Uses people, computer, internet, networks and can do business, transactions and services anywhere, anyplace & anytime on virtual platforms (Google, social-networking, Twitter, social-media, e-advertisements, mass campaigns).

10. Odia Entrepreneurship - This term is coined to promote odia entrepreneurship in Americas and/or Odisha by the Odias, and odia entrepreneuring as a brand new culture, mind-set,

new career and opportunity development. Selling the brand Odisha and Odia are most challenging issues, particularly to market Made in Orissa (now Odisha) Products, Brands, Services, Manufactured in Odisha and marketed in western countries. Some of the products/services can be such as: Odissi Dance (cultural/entertainment product), Agro/Spices/Herbals (foods, ingredients, ayurvedics), processed minerals, fishery, Sambalpuri Silk, Hand-Crafts (Pipili Chandua), Cuttack silvers filigree, Rasgoolas (Pahal, Salepur), more recently IT software exports and services, and Odia Human Resources for the Global Markets.

Other Entrepreneurship Models - Family Entrepreneurship (second, follow-up generations),

Service Entrepreneurship (services industries, contracts, vendors), Franchise Entrepreneurship,

Serial Entrepreneurship, Individual Entrepreneurship (Consultant, Sole Proprietor, Independent Founder), Internet Entrepreneurship (WWW), Drop-Out Entrepreneurship (Microsoft, Google, Youtube, Facebook) and Corporate Entre/Intra-preneurship.

Challenges:

The challenges are - entrepreneurship culture development, education, information, networks, role models, mentoring, investments, incubators, conservative mind set, teaming, NRO-RO partnerships, high-risk activity, accepting failures and converting concepts/ideas into a business. Entrepreneurship development requires a congruence between people, ideas and investments, and of course a marketable business plan.

Amiya Nayak (PhD, MBA) is a management consultant, generalist and emerging bioentrepreneur,

with broad-based interests in entrepreneurship (business/social), intrapreneurship (corporate new venture) and public-private-partnership development. Amiya has been interested/involved in America-Odisha business/development initiatives and is a patron life member of OSA.

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