Prime Minister Narendra Modi has put in a lot of his political capital into powering up the 'Start-ups' campaign in India, which he says has the power to transform India economically...
Prime Minister Narendra Modi has put in a lot of his political capital into powering up the ‘Start-ups’ campaign in India, which he says has the power to transform India economically and provide hope, and tangible help, to millions of young people to put their dream projects into practice, who otherwise would look at a bleak future.
“Our Startups represent not just commercial success stories, but are powerful examples of social innovation,” he said. PM said he would ensure that India goes on to become the best country in the world for start-ups and entrepreneurs. Centre has also invited suggestions from the public to improve ecosystem for start-ups. Here are all you wanted to know in 10 points about the ‘start-ups’ programe that is in the public sphere:
1. Prime Minister Narendra Modi had kick-started the ‘start-ups’ debate in his Independence Day speech on August 15 when he announced a new campaign ‘Start-up India; Stand up India’. This encompassed promoting bank financing for start-ups and offering of incentives to boost entrepreneurship and job creation.
2. From the ramparts of the Red Fort, he said each of the 1.25 lakh bank branches should encourage at least one Dalit or Adivasi entrepreneur and at least one woman entrepreneur. “We are looking at systems for enabling start-ups. We must be number one in start-ups…,” he said, exhorting all bank branches to fund at least one start-up of tribals and dalits. The initiative, Modi said, would give a new dimension to entrepreneurship and help in setting up a network of start-ups in the country.
3. “Startups from India are applying technology to transform healthcare, education, agriculture, clean energy, security, financial inclusion of the poor and access to clean water,” Modi has explained and added that these would be given a leg-up.
4. The ‘Start-Up India’ initiative would encourage entrepreneurship among the youth of India, said PM Narendra Modi. The NDA government he said, is working very hard to make it easy for entrepreneurs and start-ups to do business, and also ensure that the financing is easily available.
5. Prime Minister Narendra Modi has said India’s own ecosystem of startup is evolving rapidly which is driven by energy, enterprise and innovation of youth.
6. India now has the institutions, incentives and interest for new ventures, Modi has said. “India’s own ecosystem of startups is evolving rapidly. It is driven by the energy, enterprise and innovation of our youth. We have a huge market with rapid growth and untapped opportunities in every sector,” Modi has said at a startup event in Silicon Valley during his US visit.
7. “We have incubators, accelerators and investors willing to back an idea and assume risks. India has woken up to the potential of Startup Ventures with great enthusiasm and energy. In the past few years, they have grown exponentially,” Modi said, while expressing confidence that it would start a new revolution of employment, entrepreneurship and growth in India.
8. “These startups are representative of the changing India where apart from just creating solutions for the upper middle-class urban consumer of India, the innovators are leveraging technology and their experiences to create massive impact by solving some tougher problems,” CIIE CEO Kunal Upadhyay has said.
9. In the Budget, the government had announced a slew of measures to encourage start-ups, including setting up of India Aspiration Fund and Atal Innovation Mission.
10. In October, 2015, central ministers have said PM Narendra Modi will ‘soon announce’ measures to promote start-ups in the country. PM’s announcements would ensure that India treats with respect both start-ups and entrepreneurs and that the system ‘is going to be the best in the world’, govt explained.