On 16th January 2016, the Indian government unveiled the Startup India programme. Its objective is to support startup financing. India now has more startup companies than ever before. This programme has thus been a much-needed move in that direction.
This programme will assist startups in accomplishing goals by giving them the proper direction and access. By creating the ideal atmosphere for business, the government hopes to increase how simple it is to conduct business. Numerous regulatory changes and government partnerships have been established to support entrepreneurs in India.
Over the past few years, numerous video conferences with entrepreneurs have been held. As happened last year, India has produced 42 unicorns, with many growing in Tier II and Tier III cities, where people are converting their concepts into working business strategies. India’s advancement in this sector will help it move up the Global Innovation Index rankings list.
What is national startup Day?
Given the previous, 16th January has been declared National Startup Day. On 15th January 2022, PM Modi announced this via video conference as part of the Azadi ka Amrit Mahotsav’s week-long celebration of the “Innovation Ecosystem.”
The goal is to establish a grassroots entrepreneurial culture that will foster sustainable development and job possibilities. “National Startup Day is a significant step by the government in releasing entrepreneurs as well as innovation from bureaucratic silos,” claims Prime Minister Modi. He made connections with 150 entrepreneurs from various industries.
The startups were divided into six groups, and each group presented to the PM on one of the following six themes:
- Starting from the roots up
- DNA tinkering
- Local to Global
- future technologies
- developing manufacturing leaders
- Sustainable growth
When was the startup started in India?
The government started Startup India Initiative on 16th January 2016. The Government of India’s flagship programme, Startup India, aims to promote startup culture and create a robust, diverse ecosystem for entrepreneurship and innovation in India.
Since the initiative’s launch on 16th January 2016, Startup India has released several initiatives to assist entrepreneurs and change India into a nation of job creators rather than job seekers.
Significance of National Startup Day in 2022:
Startups are essential in giving India’s ecosystems new opportunities and possibilities. Introducing fresh projects to bolster the neighbourhood economy and provide jobs can significantly alter the course of many semi-urban and rural communities.
Technological progress has benefitted our country’s ecosystems, innovation, and entrepreneurship.
Indian society is evolving daily as more and more people choose to live independently. On Saturday, PM Narendra Modi spoke to all the businesses and young people engaged in advancing India’s economy.
What is the Startup India mission?
India, a developing country, has one of the world’s fastest-expanding economies and the youngest populations, making it one of the world’s fastest-growing marketplaces. Having 54 per cent of our citizens under the age of 25, we have the advantage of utilizing the abilities and talents of our youth to move the nation ahead through new ideas.
India has a thriving startup culture for several reasons, including cost advantages, the size of the market, and qualified people resources.
Although India has always had a thriving startup scene, the past two years have been amazing, especially for software startups. Currently, India boasts the fourth-largest technology startup ecosystem in the entire globe.
The Action Plan below outlines the extensive range of Startup India’s programmes, which a specific Startup India Team runs within the Department for Industrial Policy and Promotion (DPIIT). The 19-Point Plan of Action includes the following types of startup help, among others:
- improved infrastructure, such as incubators
- Improved IPR facilitation, including simplified patent application
- An effective regulatory environment with tax advantages, simpler compliance, easier firm formation, quicker exit mechanisms, and more
- An economic stimulus consists of a 10,000 crore INR Fund of Funds run by SIDBI with the intention of expanding funding options.
- This portal, also called the Startup India Portal, provides business owners and other players in the startup ecosystem with various helpful information and access to a sizable networking database.
- For startups, toll-free service and speedy email query resolution
Key objectives of Startup India Mission
To gather influential startups, businesspeople, financiers, incubators, financing sources, banks, policymakers, and other domestic and international players to honour entrepreneurship and advance innovation.
- To share knowledge on fostering startup ecosystems;
- To build entrepreneurial ecosystem capabilities;
- To mobilize international and domestic funds for startup investments;
- To inspire and encourage young people to be innovative and entrepreneurial;
- To give startups access to markets;
- To highlight high-calibre, high-tech, and cost-effective innovations from India.
FAQs
What startup mean?
A startup defines a business that is just getting started. Startups are created by one or many business owners who desire to provide a good or service for which they feel there is a market. These businesses typically have large startup expenses and little income, so they seek funding from several sources, including venture capitalists.
Who introduced Startup India?
The Indian government has introduced a platform called Startup India. During his speech on 15th August 2015, Indian Prime Minister Narendra Modi announced the campaign’s initial announcement.
How many startups start every day in India?
India’s third-largest startup ecosystem on the planet is anticipated to grow by 12–15% annually over the next year. In 2018, around 50,000 startups were initiated in India. There were 1300 new tech businesses founded in 2019 alone, suggesting that two to three startups are founded daily.
Conclusion
The establishment of National Startup Day is to assure that Indian startups would restore India’s former glory in terms of fresh ideas because India has always been a nation of creators and innovators. As it promotes the spirit of entrepreneurship, the introduction of National Startup Day will increase the confidence of current and upcoming entrepreneurs.