Entrepreneurship Development MCQ questions and answers

In this blog post, you will get the top 35 Entrepreneurship Development MCQ questions and answers. The answer to each MCQ is bold. These MCQs on Entrepreneurship are very useful for various exams like Banking, Railways, UPSC, etc;

Entrepreneurship Development MCQ questions and answers

1. Which of the following companies has been a successful start-up of the decade of 2000s in India?

 Tata Steel

 Crompton Engineering

 Ashok Leyland


2. India’s start-up movement has flourished significantly in the following domain:

 E-Commerce and Digital

 Thermal Power Plants


 None of the above

3. The government of India has launched the following initiative a few years ago to drive the start-up movement in India:

 Production Linked Incentive (PLI)

 Special Economic Zone (SEZ)

 Startup India

 Technology Development Board

4. Self-employment among rural and indigent population is supported by the following type of financial institution in India:

 Mega Finance Institutions

 Microfinance Institutions

 Rural Electrification Corporation


5. One of the most famous start-up ecosystems founded by a premier educational institute in India is:

 IIT Madras Research Park

 CSIR Research Park

 Mahindra Research Valley

 Genome Valley

6. Which of the following is a successful medtech start-up?





7. The success of a start-up is popularly measured by the following:

 Revenue and Market Share

 Profit and RoI

 Valuation and Unicorn status

 Nationality and Ethnicity

8. Most start-up enterprises when they are founded would be:

 Large-scale enterprises

 Medium-scale enterprises

 Not-for-profit enterprises

 Small-scale enterprises

9. Which of the following statements is true? (Hint: There could be more than one right answer)

 Every large company today would have been an entrepreneurial start-up at inception

 Even large companies could be entrepreneurial in approach

 Entrepreneurship drives the economic growth of a nation

 All of the above

10. A working model of the start-up product, prior to commercialisation, is usually called:

 Industrial design

 Consumer design


 None of the above

11. Who among the following is a famous healthcare entrepreneur?

 Dr Pratap Reddy

 Ratan Tata

 Gautam Adani

 None of the above

12. Significant value destruction by entrepreneurial ventures, including bankruptcies, happened in the following industry in India:

 Automobile industry

 Corporate hospital industry

 Banking industry

 Airlines industry

13. Apart from a creative competence, start-up founders must have the following more than anything else:

 High education

 Deep funding

 Strong Passion

 Diverse collaboration

14. The planned pathway to convert a vision into reality is called:





15. To achieve customer acceptance, the entrepreneur must:

 Identify the problem faced in the marketplace and find a creative solution.

 Identify the problem faced in financing for the project and raise finance

 Identify ideas that qualify for government support and implement them

 Identify good talent and build an organisation

16. Shaadi.com, an online matchmaking service, is an example of the following start-up model: (Hint: There could be more than one correct answer)

 Creating an accessible digital database for potential brides, bridegrooms, and their families.

 Subscription-based business service model

 Digital reinvention of the established process

 All the above

17. For start-up success, the following must be a core technical competence:

 Innovation and Creativity

 Managing Government relations

 Managing public relations

 Managing banks

18. Valuation of a start-up improves:

 With only proof of concept

 With only proof of product

 With only proof of business

 With all the above three occurring seamlessly and successfully

19. The following doyen of the industry has been investing in start-ups after his retirement:

 Anand Mahindra

 Ratan Tata

 Sunil Mittal

 Dilip Sanghvi

20. The following institution has been a pioneer in online education in India for the last several years, reflecting entrepreneurial approaches of the Government of India and select IITs:





21. Thyrocare was established as a start-up in:


 Sterile water

 Detergents and sanitizers

 Medical diagnostics

22. As a start-up, Nirma, the indigenous home detergent powder maker, demonstrated the importance of:

 Overseas technical collaboration

 Product positioning and marketing

 Being an outsourcing partner for MNCs

 Diversification from the very beginning

23. Name the iconic leader of consumer electronics who proved that even a college dropout can be a highly successful entrepreneur and transformational leader:

 Richard Branson

 Steve Jobs

 Walt Disney

 Milton Hershey

24. What was common between Microsoft, Apple, HP, and Sony during their start-up and early growth phases?

 All the companies made same or similar products

 All the companies were in the service industry

 All the companies were co-founded

 All of the above

25. Which city of India is known as the Silicon Valley of India?





26. Vijay Shekhar Sharma, Byju Raveendran are few names that successfully describe the term ____________________?

 a) Academicians

 b) Contract partnership

 c) Entrepreneurs

 d) Industrialist

27. The abbreviation IP denotes?

 a) Intellectual people

 b) Intellectual property

 c) Intangible product

 d) All of the above

28. The periodic blog published by a successful IP organization is owned by?

 a) The computer company

 b) Internet service provider

 c) The organization

 d) None of the above

29. India offers IP protection to how many IPs?

 a) 7/8

 b) Not defined

 c) 4/5

 d) 3/4

30. Can we protect the shape of a soda bottle?

 a) yes

 b) no

 c) maybe

 d) only in special cases

31. Can a school science project be utilized to mend money using IP as competitive advantage?

 a) Yes, all projects can

 b) No

 c) yes, if they satisfy the qualifying criteria for IP protection

 d) maybe

32. MSME means?

 a) Management of small medium enterprise

 b) Micro, small and medium enterprise

 c) Mega sector medium entities

 d) None of the above

33. Following are types of IP?

 a) Patent, designs

 b) Copyright, trademark

 c) Both a & b

 d) innovation

34. Research parks means

 a) place to carry and facilitate new research via collaboration

 b) Using public parks to create data for new research

 c) Parks which are marked by archaeological department for research purposes

 d) All of the above

35. India’s startup Meesho raised the huge funding and was backed by Facebook. It is first ____________ ?

 a) Online job opportunity platform

 b) Female centric startup

 c) single ecosystem that will enable all small businesses to succeed online

 d) All of the above

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