The growth and prosperity of an economy is highly dependent on the entrepreneurial activities of its people. Entrepreneurs provide employment not only for themselves but also for others. Entrepreneurship is the quality of being an entrepreneur, i.e. one who undertakes an enterprise. The term puts emphasis on the risk and effort taken by individuals who both own and manage a business, and on the innovations resulting from their pursuit of economic success. India has declared 2010-2020 as the Decade of Innovation. The Government has stressed the need to enunciate a policy to synergize science, technology and innovation and has also established the National Innovation Council (NInC). India