Introduction to Livestock Entrepreneurship Ecosystem

1.1 Introduction. In a complex environment covering an area of 3.3 million square kilometers, India contains around 1.32 billion people, 512 million animals, and over 1 billion birds. There is a lot of demand on the interdependent system of people, animals, and the environment to raise livestock production to meet the needs of an expanding human population. In India, the poultry and dairy industries have grown significantly over the past two decades. The supply of veterinary goods and services by private businesses and governmental regulations is highly supported by this expansion. Such assistance can increase production efficiency and provide a large population with animal products (milk, meat, and eggs). 1.2 Definition: The word 'livestock entrepreneur' refers to a person who is directly or indirectly involved in the animal husbandry or livestock sector. In other terms, a person associated with the production and sale of raw materials related to livestock farms is considered a livestock entrepreneur. An entrepreneurial ecosystem: is the local or regional entrepreneurship being impacted by the social and economic context. Entrepreneurial ecosystems are described as a collection of interrelated players and variables orchestrated so as to promote successful entrepreneurship within a given region. The ecosystem expanded to a worldwide scale, and as a result, the ecosystem for livestock entrepreneurship also included all applicable ethical and environmental standards as well as international rules and regulations. Entrepreneurs must follow the ecosystem's rules to survive, progress and prosper. Each ecosystem differs from the others which can be attributed to intrinsic characteristics or values. 1.3 Which are the primary elements of the Entrepreneurial Ecosystem? • Entrepreneurs: Together with others that support them, entrepreneurs are the ones who found and develop the new company. • Talent: Many organizations benefit from talent, but the organization can only develop if the talent is attracted to the business, developed, and kept. • Knowledge: People who can offer the expertise and resources that entrepreneurs need to succeed are viewed as assets. Every stage of the business requires knowledge, but the beginning is extremely crucial. 1.4 Why Entrepreneurship ecosystem is required? Ecosystems have changed how businesses see economic value. We may cooperate and develop together thanks to the dynamic interactions between one another. Ecosystems that are successful create procedures for fostering the flow of ideas, talent, and resources. The end outcome of networking and knowledge exchange is that creative and innovative moments are more frequent. Example of Successful Business Ecosystem: Bangalore, Chicago, The Silicon Valley, Los Angeles, Beijing etc.. Bangalore: Bangalore has become a significant player in India's startup boom and tech sector. the creation of an effective business ecosystem for rapid expansion. The Government, Academic Institutions, Community Developments, Infrastructure Facility, Talented Workforce, Good Transportation Network, Air, Road, Train, Incubators, Accelerators, Angel Investors, Investor Networking, and Tech Companies are some of the key players in Bangalore who have collaborated to create the ideal environment for startups to thrive. 1.3.3 What are the characteristics of Entrepreneurial ecosystem? Following are the some of the characteristics of the entrepreneurial ecosystem. 1.1. The entrepreneurship ecosystem usually consists of six individual domains. 1.1.1. A Conducive Culture 1.1.2. Availability of Finance 1.1.3. Various kinds of support 1.1.4. Enabling leadership and policies 1.1.5. Markets that are venture friendly for products 1.1.6. Human Resource 1.2. Each Ecosystem is unique: 1.3. Diversity in the entrepreneurial ecosystem 1.4. Legal Framework: 1.5. Talent which helps the organization to grow 1.6. Knowledge and resources to assist entrepreneurs. 1.7. Onramps and intersections 1.8. A collaboration which results in excellent social capital 1.9. Ecosystems are usually self-sustaining. 1.10. Socio Economic Environment 1.4 Types of Entrepreneurship Ecosystem: Entrepreneurship ecosystem can be classified into different types based on unique features, output, ecosystem, attitude, and domestic, national, international analysis, based on outcome related variables, by levels of growth oriented start-ups, by the strength of networks and resources within the entrepreneurship ecosystem. Examples of studies Spatial scale Type of study Main dimensions of typologies Key aspect captured by typologies Spigel and Harrison (2018) Sub-national Conceptual •Network strength: Well-Functioning Ecosystem or Poorly-Functioning Ecosystem •Resources: Munificent or Sparse How well an Entrepreneurship Ecosystem is developed Brown and Mason (2017) Mix of national and sub-national Conceptual •Embryonic ecosystems •Scale-up ecosystems How well an Entrepreneurship Ecosystem is developed Vedula and Kim (2019) Sub-national Quantitative •Higher-quality •Lower-quality How well an Entrepreneurship Ecosystem is developed Spigel (2017) Sub-national Qualitative – two case studies in one country •Various types of configurations of material, social, and cultural attributes, resulting in, for example a market-driven ecosystem or a dense and innovative ecosystem How an Entrepreneurship Ecosystem is developed Scheidgen (2021) Sub-national Qualitative – single case study •Highly integrated or fragmented into subsystems Integration in Entrepreneurship Ecosystem Audretsch and Belitski (2021) Sub-national Quantitative •Global ecosystems •Creative ecosystems •Manufacturing ecosystems •Regional ecosystems Sectors and global orientation in Entrepreneurship Ecosystem The creativity, innovation process and entrepreneurial activity are important in the ecosystem development. Components of Livestock Entrepreneur Ecosystem are: Following constitutes the livestock Entrepreneur ecosystem. Entrepreneur: is the innovator and the one who organizes all factors of production – land, labour, capital and infrastructure. The first participant of the livestock entrepreneurship ecosystem will be the owner. Owner will be the entrepreneur who brings together all other resources such as land, labour, infrastructure, and capital together and dreams big. Livestock animal: the livestock entrepreneur ecosystem the entrepreneur deals with the particular species or multiple species of livestock and related products and services. The livestock are animals raised by human being/owner/entrepreneurs for products for services. The livestock animals are Cattle, Buffalo, Sheep, Goat, Pig, Mithun, Yak, Horses & Ponies, Mule, Donkey, Camel. The livestock animals are used for milk, cheese, butter, ghee and other dairy products, meat, skin, hides, medicinal purpose, organic compost, draught purpose etc.. The Customer: The customer is the very important participant in the livestock entrepreneurship ecosystem. The success of the company varies according to the taste and preference of the customer. The customer pays money and buys the product produced by the entrepreneur. The customer will not hesitate to pay the premium price if the product and service is of excellent choice. Here the customer are both domestic and international. Population: The population increased drastically from 1947 to 2022. The human population of India during 1947 was 361 million or 36 Crores and in 2022 is 138 crore population and projected population of India by 2050 is 1.64 billion. The livestock population in India 1951 was 292.9 million, in 2020 it is 535.8 million. The increase in population demands more food, more milk, more dairy products and by products. The larger the population, the larger the market. Entrepreneurs must do sufficient research to know and analyse the changing habits of the population to gain early access to that domain. Technology: The computer revolution brought tremendous changes the customer choice of buying and selling the product and services. The people previously were going to store and buy the product. With the advancement in technology the customer through mobile applications can place order of his choice and buy the things. The artificial intelligence could help the entrepreneurs in assessing the customer needs and types of products people are interested and buying across geographical set up, niche market, at what price the people are buying the product, what is the average discount rate people are willing to buy the product, the occasion around which the particular type of product or service was in more demand. Land, Water: land is required for grazing and cattle shed and management. Water is essential for drinking purpose and washing, cleansing purpose. The scarcity of grazing land and water impact on the productivity. Feed and Nutrition: Food is essential for survival. Food and nutrition in right quantity at right duration and intervals is provide best yield. Environment: Environment is a complex component of the ecosystem. The environmental changes will have direct impact on the livestock management and related entrepreneurial venture. When zoonotic diseases spread among the people and livestock, the particular species ordered to kill on large scale which is great revenue loss to the entrepreneur. The climate, weather, famine, flood, epidemic outbreak, pollution, and wars all these influence of the livestock sector entrepreneurial activity. They will create challenges, the food problems, lack of vaccination, disease outbreak and many other things. Entrepreneurs though they can’t predict everything but, must have buffer stock to meet these sort of uncommon situation. Government rules and regulation: All entrepreneurial ecosystem are bound by the government rules and regulations. Government external trade relations with other countries will have direct impact on the import and export of the livestock product and services import and export impacting the enterprises revenue generation. Market – domestic/ international: with the liberalization, privatization and globalization world became one family. With the advancement in technology one can trade online in real time basis with the foreign customer, producer. The demand for the product and services improved and increased the gateway to resources and revenue generation model subject to respective countries import standards and regulations. Quality and hygiene are prioritized in the long run. The transportation charge varies between domestic market and international market apart from increase in the MRP- Maximum Retail Price. The Livestock are basically concentrated to serve the growing domestic market population. With government support the livestock and its products export is gaining momentum. The international hygiene, safety standards, ethical standards apply. Finance: finance is the soul of the entrepreneurial ventures. Finance is required for purchase, research and development, set up plant, market expansion,etc..The enterprises moved from the local vendors and banks to incubators, accelerators, angel investors for funding purpose. The Incubators/Accelerators/ Angel Investors: These are nurturing the young entrepreneurs and the ideapreneurs to grow in the competitive market. These institutions intends to mentor, train, support with ‘co-working space, laboratory support for testing, library, meeting hall, IP&TM support, networking, branding, website design, marketing research, facilitate funding etc... Today we see 100+ unicorns in India, the success of the unicorns who were once small startups is affiliate to one of these incubators, accelerators, angel investor, Government. INCUBATORS ANGEL INVESTORS ACCELERATORS Duration 1 to 5 years Ongoing 3 to 6 months Cohorts Yes No Yes Business Model Rent; Non Profit Investment Investment; can also be non profit Selection Non Competitive Competitive/ Ongoing Competitive/Cyclical Venture stage Early or late Early Early Education Ad hoc, Human resources, legal None Seminars Mentorship Minimal, tactical As needed by investor Intense by self and others Venture location On-site Off-site On-site Example Startup India, ICAR- Agribusiness Incubators, ICreate, NSRCEL, Startup Village, Sequoia Capital. FreshWorks. Kalaari Capital, Axilor Ventures, ACCEL Partners, Y Combinators The social norms, Culture and customs: India is house to many ethnic groups, numerous culture. The some of the species of livestock are have high religious value in different ethnicity. The entrepreneurs keep in mind the niche market they intend to serve without affecting the social norms and cultural belief. ICAR and Institutions: In India ICAR and its institutions have played pivotal role in the development of the Agriculture and Allied sector, and through its innovative methods and technologies made India self-sufficient in agriculture products and services and through operation flood brought the Indian dairy sector to forefront and Green Revolution impact is visible to all. Competitors: The competitors are best friends, and they always make the opponent stand on their toes to know the next move. Holistic competition helps in innovation and development. Nowadays, accelerators, incubators, and angel investors come to the rescue in order to overcome the disadvantages of the competition by properly scaling the product. Conclusion: References: https://www.degruyter.com/document/doi/10.1515/9783110679359-007/html