Beware!!! India is on a Roll with Startup India 

Narendra Modi – Always involved and focused

Prime Minister Narendra Modi has kicked off the ambitious Startup India Movement. The government programme aims to fill gaps in the economy for the growth and development of startups and will aim to boost digital entrepreneurship at the grassroots. The government is expected to earmark around Rs 2,000 crore for the initiative.

Prime Minister Narendra Modi starts off on a lighter note. This has to quite refreshing to all the participants who are by now probably tired after a day-long session of brainstorming.

“Today it is Saturday. Government offices are usually on holiday mode. After 6 pm there is no question of it. If someone asks me where is the difference? Here it is,” said Modi with the gathering responding with a roar of laughter.

“Today’s gathering is not to tell us what to do. You have to tell us what the government should not do,” the PM said. And the response is as expected — reverberating and loud burst of laughter in that massive Vigyan Bhavan auditorium.

“I had spoken about start up from the ramparts of the Red Fort and today we are seeing what this is about,” the prime minister said.”We are here so that you can tell us what we should not do,” he said.

“Ideas are many but some leave the idea halfway while the others become very involved with the idea,” PM Modi said.

“My government is committed to boost innovation in the country,” Modi said.

“Today Kuber has become Uber. Entrepreneurs are creative but also adventurous and risk-takers,” the prime minister said explaining what’s essential for start-ups to succeed. “There is an energy from within and there are dreams that you have dedicated yourself to.”

“Minimum government, maximum governance is key to the success of Startup India. Start-ups are driven by the passion to find solutions and innovate,” he said. “An entrepreneur is willing to lose his sleep to solve the problems of others.”

“Solution to all problems has become an App. And I have benefited greatly from this…I also have the ‘Narendra Modi App’,” PM Modi said amid applause. “Share your stories with me on the ‘Narendra Modi Mobile App’.”

“This start up movement is not merely guided by money or name and fame. The purpose is beyond that,” the prime minister said stressing that money is secondary.

“When we say Make in India we also say ‘Make for India.’ India is a great market,” he said.

“Start-up doesn’t mean that a person is dealing with a billion dollar job employing 2,000 people. If one can employ five people he or she is contributing enough to the nation,” the prime minister said.

“Quality education is important and it is very crucial to take this quality education to poorest of the poor. Technology is impacting the health sector but the question for us is how to make it affordable,” PM Modi said.

“When I go abroad or delegations come here they always express concern about cyber security. If India can provide with a foolproof cyber security solution no one in the world can raise finger against India. When I say Startup India, it is implicit that I say stand up India. India is blessed to be a nation of youngsters. Yes, there are millions of problems in India. But it also has a billion minds,” the prime minister said.

Features of Startup India

  1. Compliance Regime based on Self-certification
  2. Startup India Hub – A single point of contact for the entire startup ecosystem
  3. Rolling out of a Mobile App & Portal – Starting a Startup in 1 day on a Mobile App
  4. Fast track mechanism of Startup patent applications
  5. Relaxed Norms of Public Procurement for Startups
  6. Faster Exit for Startups
  7. Rs 10,000 crore Fund of Funds for funding support
  8. Credit Guarantee Fund for Startups
  9. Tax Exemption on Capital Gains
  10. Tax Exemption to Startups for 3 Years (for startups registering after April 1, 2016)
  11. Tax Exemption on Investment above Fair Market Value
  12. Organising Startup Fests for Showcasing Innovation and Providing a Collaboration Platform
  13. Launch of Atal Innovation Mission (AIM) with Self-Employment and Talent Utilisation (SETU) Program
  14. Harnessing Private Sector Expertise for Incubator Setup
  15. Building Innovation Centres at National Institutes
  16. Setting up of 7 New Research Parks Modeled on the Research Park Setup at IIT Madras
  17. Promoting Startups in the Biotechnology Sector
  18. Launching Innovation Focused Programs for Students
  19. Annual Incubator Grand Challenge

Initiatives for Promoting Startups

  • Start-up India Hub: An entire start-up ecosystem that would be a set-up and a friend, mentor and guide for start-ups through their entire journey
  • Setting up of 7 new research parks modelled on the research park at IIT-Madras: Seven new research parks with an initial investment of Rs 100 crore each would be set up
  • 35 new incubators in institutions: A maximum of Rs 10 crore financial support to be given by central government to new incubators

Launch of Atal Innovation Mission– Entrepreneurship promotion

  • Sector-specific incubators to be established
  • 500 tinkering labs with 3D printers in universities
  • Pre-incubation training to potential entrepreneurs
  • Strengthening of the existing incubation facilities
  • Seed funding to high growth start-ups

Innovation promotion

  • Institution of innovation awards: 3 per state/UT and 3 national level
  • Providing support to State Innovation councils for awareness creation and organising state-level workshops/conferences
  • Launch of Grand Innovation Challenge Awards for finding low-cost solution to intractable problems
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It was an evening of new beginning for India and a big step to encourage young Indians to become jog givers rather than job seekers. Lot of people in past talked about innovation, Modi has endorsed it with official support and funds. This is a step towards transformation and a challenging shift which young generation will graciously accept.

Beware India is on a Roll with Startup India……


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Sachin Iyer

I am a self‐learned digital executive, leader, strategist and trainer by profession and experience. I have rich experience as marketer, trainer, entrepreneurial evangelist and start up facilitator. I admire first generation of entrepreneurs and conducted more than 200 programs to establish startup ecosystem in Central India. I have worn many hats in my career, as a result, I have a unique ability to manage multi‐disciplinary projects and navigate complex challenges in the process. I have big ideas and I don't care who gets credit, I just like to facilitate. Drop me a line anytime, whether it's a collaboration, writing projects, skills training or just business - will love to hear from you - [email protected]

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