Page 89 - Abhivruddhi

Theoretical Backdrop
Entrepreneurs and creators of new businesses, enable economies
several benefits. Kritikos (2015) in his research indicates that this
happens through innovation, job creation, improved productivity,
healthy competition, and acceleration of structural change. The research
study by Kumar and Raj (2019) elucidates that entrepreneurship in India
is a significant contributor in innovation and employment generation.
Their findings indicate that it has also created a structure which supports
extensive employment opportunities. Goparaju (2020) explains that there
are diverse sectors providing start-ups opportunities in India. He adds
that the diversity of business verticals, service portfolio and offerings,
product variety and industries are rising with innovation.
Holzmann, Breitenecker, Soomro, & Schwarz (2017) carried out
a study which indicates that 3D printing technology holds certain
characteristics that offer benefits for user entrepreneurship and
numerous business opportunities exist which can be classified according
to their attractiveness. Rayna and Striukova (2021) through their research
work conclude that 3D printing technologies are likely to empower
entrepreneurs to overcome various barriers and challenges they face in
terms of market access, scale, and adequacy of financial resources. In
this context the researchers propagate that 3D printing may actually be
more transformative for business enterprises with smaller and younger
structures as compared to well-established, large corporations.

About 3D Printing Technology
3D printing is a manufacturing process that interlocks parts within
parts to produce functioning closed systems that require no assembly. It
enables the ability to produce a “product” fully functional, with complete
features in one print. The 3D printers produce objects directly from
computer models allowing aspiring entrepreneurs to give their product
ideas a physical form and then hold, evaluate, test, use and also share
them digitally with the world. 3D printing has evolved into a prevalent
prototyping method used by manufacturing companies. The technology
enables companies to quickly build prototypes for testing and quality
assurance purposes. A step-by-step process of the 3D printing technology
is exhibited in the following graphic –

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