Modi powers up ‘Startup India’ campaign, unveils Rs 10,000 crore fund

Prime Minister Narendra Modi launches the ambitious ‘Startup India’ Movement to boost digital entrepreneurship at the grassroots level.

Prime Minister Narendra Modi’s 19-point action plan on start-ups has failed to meet the expectation of some venture capitalists and new start-ups. (Express photo)

Prime Minister Narendra Modi launched the ambitious ‘Startup India’ campaign to boost digital entrepreneurship at the grassroots level in the country at an event in Delhi attended by a number of successful global and Indian startup founders and CEOs, including Travis Kalanick, founder, Uber, Masayoshi Son, founder and CEO, Softbank, Kunal Bahl, founder, Snapdeal, Vijay Shekhar Sharma, founder, paytm and many more.

In his speech, PM Narendra Modi revealed various features of the ‘Startup Action Plan’ including income tax exemption for startups for the first three years, 80% reduction in patent fee for start-up businesses, and creation of a dedicated fund with Rs 10,000 crore corpus to fund startups.

As it happened:

7:35 pm: All of you have a vital role to play in the future of India, says PM Modi as he concludes his speech

7:33 pm: Income tax exemptions for start-ups for the first three years, effective from April 2016: PM @narendramodi #StartupIndia

7:32 pm: Will prepare legal framework to enable and protect startups in filing IPRs: PM @narendramodi at #StartupIndia

7:30 pm: We are starting the Atal Innovation Mission to give an impetus to innovation and encourage the talent among our people: PM

7:28 pm: Rs 10,000 crore government funds for start-ups says @PM

7:25 pm: We will be reducing fees by 80% for patent filing by #startups: PM @narendramodi at #StartupIndia

7: 24 pm: Startups can be registered in one day on an app. We will provide incentives to #startups based on turnover, experience: PM

Will be reducing fees by 80% for patent filing by #startups: PM @narendramodi at #StartupIndia event

7: 21 pm: Norms will be relaxed for public procurements for startups

7: 20 pm: There will be faster patent registration and protection for Intellectual Property rights. We are also introducing self-certification compliance by startups: PM

7: 18 pm: A mobile app will be launched through which startups can be registered in a day

7:18 pm: @PMOIndia announced the features of start-up action plan.

7:15 pm: We want to focus on hand holding for startups, says PM Modi.

7:12 pm: Technology is impacting the health sector but the question for us is how to make it affordable: PM @narendramodi #StartupIndia

7:10 pm: Our youth should become job creator and not job seeker: PM Narendra Modi at Startup India

7:08 PM: Farmers are really working hard but still crop goes waste: PM

7: 07 pm: Success depends on the ability to take risk: PM @narendramodi at #StartupIndia

7:05 pm: Entrepreneurs are creative but also adventurous and risk-takers.”: @narendramodi  #StartupIndia

7:00 pm: Tell your success stories on ” Narendra Modi Aap” says PM @narendramodi

6:58 pm: When you want to start your business you don’t look for money, you look for future changes says PM @narendramodi  #StartupIndia

6:53 pm: Today we ask the #entrepreneurs what all should not to be done: PM @narendramodi at #StartupIndia event

6:50 pm: My thoughts are different, we have done a lot in last 70 years: says PM @narendramodi @standup_startup #StartupIndia

6:45 pm: @narendramodi releases the action plan for startups in India. #StartupIndia

6:35 pm: I am grateful that i can dream, the onus is on me to make India the best country in the world: Neeraj Kakkar at #StartupIndia event

6:29 pm: I would like to make ‘Designed in India, Made for the world’: Ritesh Agarwal, Oyo Rooms at #StartupIndia

6:27 pm: You do not need to be from India to love India: Adam Neumann, WeWork CEO at #StartupIndia event.

6:26 pm: It’s the ultimate #MakeInIndia product, because it deals with people of India: Anuradha Acharya, founder, Map My Janam. #StartupIndia

6:24 pm: This country’s problems will be solved by our #entrepreneurs and not by anyone from outside world: @NaveenTewari. #StartupIndia

6:22 pm: We take massive pride that our technology touches 1.5 billion people everyday: @NaveenTewari #StartupIndia

6:19 pm: The excitement I’ve seen in the @Uber India team leaves me speechless. @travisk #StartupIndia

6:18 pm: With this event, a lot of middle class men and women now have the ability to dream: Suchi Mukherjee, Founder of @limeroadcom. #StartupIndia

6:16 pm: Suchi Mukherjee, founder of @limeroadcom takes the stage and shares her story. #StartupIndia

6:13 pm: Samay Kohli, CEO, @GoGreyOrange, takes the stage and shares insights about his company.

6:08 pm: In an unregulated environment, it’s the survival of the fittest that matters: @Arunjaitley #StartupIndia

6:05 pm: The world today has changed. Startup India has marked an important changed in India’s mindset: Arun Jaitley

6:03 pm: How many among the top 20 companies that existed before 1991 exist in the top 20 even today, asks Finance Minister Arun Jaitley

5:55 pm: Nirmala Sitharaman takes the stage to introduce the #StartupIndia package

5:50 pm: Narendra Modi takes stage at #StartupIndia. Founders of InMobi, Uber, Practo, Softbank etc. also on stage with PM

5:30 pm: Prime Minister Narendra Modi has reached Vigyan Bhawan, the venue of the launch of the ambitious ‘Startup India’ programme.

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