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Startup India
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Startup India
Country
India
Prime Minister(s)
Narendra Modi
Ministry
Department of Industrial Policy and Promotion (India) Ministry of Commerce and Industry (India)
Key people
Suresh Prabhu
Launched
16 January 2016; 21 months ago (2016-01-16)
Vigyan Bhavan, New Delhi
Website
startupindia.gov.in
Status: Active
Startup India campaign is based on an action plan aimed at promoting bank financing for start-up ventures to boost entrepreneurship and encourage start ups with jobs creation. The campaign was first announced by Prime Minister Narendra Modi in his 15 August 2015 address from the Red Fort.[1] It is focused on to restrict role of States in policy domain and to get rid of "license raj" and hindrances like in land permissions, foreign investment proposal, environmental clearances. It was organized by Department of Industrial Policy and Promotion (DIPP).[2] A startup is an entity that is headquartered in India which was opened less than seven years ago and has an annual turnover less than ₹25 crore (US$3.9 million).[3] The government has already launched iMADE, an app development platform aimed at producing 1,000,000 apps and PMMY, the MUDRA Bank, a new institution set up for development and refinancing activities relating to micro units with a refinance Fund of ₹200 billion (US$3.1 billion).
The Standup India initiative is also aimed at promoting entrepreneurship among SCs/STs, women communities.[4][5] Rural India's version of Startup India was named the Deen Dayal Upadhyay Swaniyojan Yojana.[6] To endorse the campaign, the first magazine for start ups in India, The Cofounder, was launched in 2016.
Contents
[hide]
1 Key points
2 Launch
3 Government's role
4 Investments
5 States Assessment
6 Educational Institution Alliances
7 Criticism
8 See also
9 References
Key points[edit]
Single Window Clearance even with the help of a mobile application
10,000 crore fund of funds
reduction in patent registration fee
Modified and more friendly Bankruptcy Code to ensure 90-day exit window
Freedom from mystifying inspections for 3 years
Freedom from Capital Gain Tax for 3 years
Freedom from tax in profits for 3 years
Self-certification compliance
Innovation hub under Atal Innovation Mission
Starting with 5 lakh schools to target 10 lakh children for innovation programme
new schemes to provide IPR protection to start-ups and new firms
encourage entrepreneurship.
Stand India across the world as a start-up hub.[7]
Launch[edit]
The event was inaugurated on 16 January 2016 by the finance minister Arun Jaitley. Among the attendees were around 40 top CEOs and startup founders and investors from Silicon Valley as special guests including Masayoshi Son, CEO of SoftBank, Kunal Bahl, founder Snapdeal, Ola founder Bhavish Aggarwal, Paytm founder Vijay Shekhar Sharma, Travis Kalanick, founder of Uber, Adam Neumann, CEO of WeWork, BJ Arun, CEO of July Systems, Prateek Kr. Bhowmick, Co-founder of ReviewAdda, Sachin Bansal, Co-founder of Flipkart, Naveen Tewari, Co-founder of Inmobi and others.[8][9]
Government's role[edit]
The Ministry of Human Resource Development and the Department of Science and Technology have agreed to partner in an initiative to set up over 75 such startup support hubs in the National Institutes of Technology (NITs), the Indian Institutes of Information Technology (IIITs), the Indian Institutes of Science Education and Research (IISERs) and National Institutes of Pharmaceutical Education and Research (NIPERs).[10]
The Reserve Bank of India said it will take steps to help improve the ‘ease of doing business’ in the country and contribute to an ecosystem that is conducive for the growth of start-up businesses.[11]
Investments[edit]
SoftBank, which is headquartered in Japan, has invested US$2 billion into Indian startups. The Japanese firm had pledged the total investments at US$10 billion. Google declared to launch a startup, based on the highest votes in which the top three startups will be allowed to join the next Google Launchpad Week, and the final winner could win an amount of US$100,000 in Google cloud credits.[12] Oracle on 12 February 2016 announced to set up nine incubation centres in Bengaluru, Chennai, Gurgaon, Hyderabad, Mumbai, Noida, Pune, Trivandrum and Vijayawada.[13]
States Assessment[edit]
Southern States of India have shown great performance, like Karnataka, Kerala, Andhra Pradesh and Telangana which have results better than the rest of the country in terms of their policies implementations for supporting startups. Their focus has been on improving infrastructure, especially in the Tier-II cities. Bengaluru , a metro city of Karnataka, is known as the Silicon Valley of India. Kerala is well known for the government's startup policy, "Kerala IT Mission", which focus on fetching ₹50 billion (US$780 million) in investments for the State's startup ecosystem. It also made India's first telecom incubator Startup village in 2012.[14] The state also matches the funding raised by its incubator from Central government with 1:1. Telangana has launched the largest incubation center in India as "T-Hub". Andhra Pradesh has allocated a 17,000-sq.ft. Technological Research and Innovation Park as a Research and Development laboratory. It has also created a fund called "Initial Innovation Fund" of ₹100 crore (US$16 million) for entrepreneurs.[15] The government of Madhya Pradesh has collaborated with the Small Industries Development Bank of India (SIDBI) to create a fund of ₹200 crore (US$31 million). Rajasthan has also launched "Start-up Oasis" scheme.[15] In order to promote start-ups in Odisha, the state government organised a two-day Start-up Conclave in Bhubaneswar on November 28, 2016.[16][17] The main objectives of the event would be to motivate youth towards entrepreneurship, showcase the start-up ecosystem in Odisha and attract more start-ups to the state.[18]
Educational Institution Alliances[edit]
Under the scheme, a group of start-ups will acknowledge an MOU with the prestigious institutions and will also establish the start-up centers in the campus. NIT-Silchar (The National Institute of Technology, Silchar) is one of the institutions of the country to have joined the program.[19] IIT Madras is also linked with this campaign. The institution has been successfully managing the IITM Research Park that has incubated many start-ups.[20]
Startup India recently formed a relationship with TAVtech Ventures, a nonprofit educational organization that is in the process of establishing a platform for collaborative innovation between US, Israeli, and Indian students to launch start-ups.
Criticism[edit]
The quality of education in the institutions of the nation is always questioned and found not matching with the organizations' standards for the required skillset and they have to spend on training the freshers. The country has also launched the Skill India campaign for addressing the issue.[21]
See also[edit]
Standup India
Make in India
Digital India
Skill India
Electronics and semiconductor manufacturing industry in India
Startup India Consultants
References[edit]
Jump up ^ "PM Modi in Mann Ki Baat: 'Start Up India, Stand Up India' action plan on January 16 - Times of India", The Times of India
Jump up ^ "Start-Up India plan on Jan 16: Modi on Mann ki Baat". The Indian Express. 2015-12-27.
Jump up ^ "Start-Up India campaign: We are growing much faster, says Arun Jaitley : Delhi, News - India Today", indiatoday.intoday.in
Jump up ^ Cabinet clears Stand Up India scheme for women and SC/ST
Jump up ^ "What India's Narendra Modi Can Do for Indian Startups", Inc.com, 2015-09-25
Jump up ^ "Startup India initiative to get a rural avatar as Deen Dayal Upadhyay Swaniyojan Yojana". timesofindia-economictimes. Retrieved 2016-06-15.
Jump up ^ Key Points in Start Up India Scheme - PM Jan Dhan Yojana
Jump up ^ "Startup India action plan to provide final break from license raj: Arun Jaitley", The Economic Times
Jump up ^ "PM Narendra Modi to unveil startup action plan today as a major breakthrough for entrepreneurship in India - The Economic Times", The Economic Times
Jump up ^ "Start up India: This is the beginning of big bang start up boom in India, says Softbank CEO", The Hindu, 16 January 2016
Jump up ^ "RBI to create enabling framework for growth of start-ups". The Hindu. 2016-02-02. ISSN 0971-751X. Retrieved 2016-02-04.
Jump up ^ "Startup India event Live: Adventure, doing the impossible is all entrepreneurship, says Uber CEO Travis Kalanick", The Financial Express, 16 January 2016
Jump up ^ "After Digital India, Oracle seeks to participate in Make in India, Start-up India", Live Mint, 13 February 2016
Jump up ^ "Startup Mission to ink pact for innovation zone". The Hindu. 2016-01-03. ISSN 0971-751X.
^ Jump up to: a b PM Modi to launch 'Startup India' campaign today
Jump up ^ "Odisha Startup Conclave 2016". odishastartupconclave.com. Retrieved 2016-10-20.
Jump up ^ IANS (2016-10-05). "Odisha to organise start-up conclave". Business Standard India. Retrieved 2016-10-20.
Jump up ^ "Odisha to organise startup conclave - Times of India". The Times of India. Retrieved 2016-10-20.
Jump up ^ "NIT-Silchar joins Modi's Start-up India campaign - Times of India", The Times of India
Jump up ^ "With ‘start-up India’, research parks to bloom", The Hindu, 2015-10-23, ISSN 0971-751X
Jump up ^ "The problem with Indian education and how technology can help - Blog - Fluency", www.fluency.io
[hide]
v
t
e
Government schemes in India
Active
Schemes
Antyodaya Anna Yojana
Atal Pension Yojana
Beti Bachao, Beti Padhao Yojana
CGHS
DAY
DBT
DDUGJY
DDU-GKY
DELP
HRIDAY
Housing for All
ICDS
Income declaration scheme, 2016
JAM Yojana
KVPY
Midday Meal Scheme
NSAP
NSS
POPSK
PMAGY
PMAY
PMGSY
PMJDY
Pradhan Mantri Garib Kalyan Yojana
PMKSY
Pradhan Mantri Bhartiya Jan Aushadhi Yojana Kendra
PMMVY
PMMY
Pradhan Mantri Jeevan Jyoti Bima Yojana
Pradhan Mantri Kaushal Vikas Yojana
Pradhan Mantri Suraksha Bima Yojana
Pradhan Mantri Ujjwala Yojana
Rashtriya Krishi Vikas Yojana
SAGY
SGSY
Swasth Jeevan Sewa Guarantee Yojana
Soil Health Card Scheme
UDAY
UDAN
Missions
AMRUT
Mission Indradhanush
NICRA
National Mission for Manuscripts
NRHM
ASHA
National Translation Mission
Providing Urban Amenities to Rural Areas
Rashtriya Madhyamik Shiksha Abhiyan
Rashtriya Uchchatar Shiksha Abhiyan
Sarva Shiksha Abhiyan
National Solar Mission
Smart Cities Mission
TB-Mission 2020
Projects
Bharatmala
Indian Rivers Inter-link
Sagar Mala project
Setu Bharatam
Urja Ganga Gas Pipeline Project
Campaigns
Accessible India Campaign
Digital India
Make in India
Skill India
Standup India
Startup India
Swachh Bharat Abhiyan
Unnat Bharat Abhiyan
IDs
Aadhaar
Business identification number
Indian passport
Permanent account number
Ration card (India)
Unorganised Workers' Identification Number
Voter ID (India)
State
Bhamashah Yojana
Biju Krushak Kalyan Yojana
Invest Madhya Pradesh
Jyotigram Yojana
Make in Maharashtra
Rajiv Gandhi Jeevandayee Arogya Yojana
Vibrant Gujarat
Closed
Schemes
Bharat Nirman
JSY
JnNURM
Kasturba Gandhi Balika Vidyalaya
MPLADS
NLM
NPS
NRLM
Pooled Finance Development Fund Scheme
RNTCP
RSBY
Rural Landless Employment Guarantee Programme
Saakshar Bharat
Sampoorna Grameen Rozgar Yojana
Swabhimaan (campaign)
Swavalamban
Voluntary Disclosure of Income Scheme
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