ENTREPRENEURSHIP'DEVELOPMENT IN SOFTWARE INDUSTRY

A system of entrepreneurship has evolved in the U. S. that has been quite successful and that may have considerable applicability to some other technologically advanced countries, such as Germany and Japan, which appear to need more economic dynamism. The system needs,modification however, for underdeveloped economies like India's. In particular, I believe that the optimal role for individual entrepreneurs - and the public policies necessary to support this role - is somewhat different in India than in an advanced economy. In advanced countries, most resources are already in or near their highest-valued use. Any increase in their productivity requires new technologies (broadly defined). Without new technologies, economic growth winds down and business life stagnates.