In the year 1970 the industrial Corporation - Gujarat Industrial Investment Corporation (GIIC), Gujarat State Finance Corporation(GSFC), Gujarat Industrial Development Corporation (GIDC) & Gujarat Small Industries Corporation (GSIC) has started its activity named "Udyog Sahasik Vikas Yojana" as a part of GIIC.
Entered by their success in bringing about a perceptible change in public perceptions, the Gujarat Corporations together with the State Government set up in May 1979 an independent body "The Centre for Entrepreneurship Development (CED)".
Since 1979, CED has a firm belief that the Entrepreneurs are not born, but can be developed. CED has been registered as a Society under the Societies Registration Act – an autonomous body.
The Industries Commissioner of Gujarat is the Chairman, while Managing Directors of four promoting Corporations, Prominent Industrialist, Chief Executive of Bank and Management expert are the Members of the Governing Body. The financial responsibility of running the organization is shared by majority State Government and the promotion and the promoting Corporations.