38 Int. J. Technology Transfer and Commercialisation, Vol. 3, No. 1, 2004 Copyright ' 2004 Inderscience Enterprises Ltd. Effective industry/institute interaction for developing entrepreneurial vision amongst engineers for the sustainable development of SMEs in India V.P. Wani*, T.K. Garg and S.K. Sharma National Institute of Technology, Kurukshetra, Haryana-136119, India E-mail: vpwani@rediffmail.com E-mail: tkgargnitk@rediffmail.com E-mail: sksharma49@yahoo.com.in *Corresponding author Abstract: The development of entrepreneurship amongst engineers will be an effective mechanism of luminous renaissance in technology innovations, helpful in the removal of regional imbalance and sustainable growth of SMEs. An engineer, through self-employment as a career, can bring about a technical revolution that can meet the challenges of the emerging scenarios of globalisation and liberalisation, with a key element of competition rather than protection. This paper discusses the strategies for developing entrepreneurial vision amongst engineers, the necessity of the engineer as entrepreneur, the significance of industry/institute interaction, the role of engineering education and the impact of engineering education in the growth of small and medium enterprises. As per the survey carried out, the authors find the relevance of the entrepreneurial concept and capability amongst engineers when selecting career options. Keywords: Entrepreneurship; small and medium enterprises; industry institute interaction; technology transfer; small industries; engineering institution; technical education Reference to this paper should be made as follows: Wani, V.P., Garg, T.K. and Sharma, S.K. (2004) Effective industry/institute interaction for developing entrepreneurial vision amongst engineers for the sustainable development of SMEs in India, Int. J. Technology Transfer and Commercialisation, Vol. 3, No. 1, pp.38-55. Biographical notes: V.P. Wani, the Workshop Superintendent at the National Institute of Technology, Kurukshetra, is carrying out research in the field of perspectives and prospects small engineering industries. He has over 19 years experience in the field of project execution, industrial development and teaching. He has guided four postgraduate students in dissertation work for their MTech. His areas of interest are entrepreneurship development, engineering management and production engineering. T.K. Garg is a Professor in the Department of Mechanical Engineering, National Institute of Technology, Kurukshetra. He holds a PhD in Mechanical Engineering and has over 27 years experience. He has guided around 20 postgraduate candidates in dissertations for their MTech and two candidates in their research work for a PhD. His areas of interest are CAD/CAM, automation, machine design and industrial instrumentation.