Entrepreneurship has a key role to play in economic development. Every career draws on the competencies of an individual. Some of these competencies may be general and some peculiar to the chosen career. A competency means abilities and skills. Recognition of these competencies as abilities and skills makes entrepreneurship as a teachable and learnable behaviour. In simple words, the term competence refers to underlying characteristics of a person which results in effective and or superior performance of a job. Currently, entrepreneurship Competencies are one of key attributes for students if they want to successfully navigate the job market after graduation. Many employers prefer students with entrepreneurship experience when hiring for entry-level positions. They consider these students to be more accountable for their own actions, have teamwork Competencies and know how to execute. One of the main goals of many educational courses at various colleges, especially those which focus on applied economics and management, is the development of students’ entrepreneurship Competencies. It is usually accomplished through various project-oriented tasks.