Contours of Indian entrepreneurial ecosystem – perspectives from Pune and NCR Delhi

India is young nation where average age of an Indian is 27 years. Giving employment to this bulge in the population pyramid in the organized sector is not possible. Infact, 93% of the workforce in the country is engaged in informal/unorganized sector, which is the backbone of Indian economy. Entrepreneurial activities have emerged as the best channel to create more jobs in the country, and the MSME sector largely takes the share in it. Similarly, with globalization and the IT sector booming in India - there has been quest for innovation and technology based services. However, the entrepreneurial ecosystem is facing several challenges. More than 80% startups are estimated to shut-down within first 3-years of starting. India was placed 104th (below all BRICS economies) on Global Entrepreneurship Index in 2015. This paper strategically looks into the health of the entrepreneurial ecosystem, in terms of the existing challenges and contemporary policy framework. A considerable sample size across micro-small-medium businesses in Pune and National Capital Region of India were surveyed, besides interviewing experts, analysts, investors and other relevant stakeholders, to complement the research objectives in this context. The findings of the study reveal contemporary requisites of a healthy entrepreneurial ecosystem, wherein community participation plays a major role. The paper also gives a resourceful insight into lubricants of entrepreneurial ecosystem, which has changed lives of many.