[Worldkings] Top ideas organizations in the world (P. 99) Startup India (India): India's startup and innovation incubator

21-03-2023

(Worldkings.org) Startup India is a flagship initiative of the Government of India, intended to catalyse startup culture and build a strong and inclusive ecosystem for innovation and entrepreneurship in India.

Startup India is a flagship initiative of the Government of India, intended to build a strong eco-system for nurturing innovation and startups in the country that will drive sustainable economic growth and generate large-scale employment opportunities. The government through this initiative aims to empower startups to grow through innovation and design and to consolidate and facilitate the startup ecosystem of the country.

 

The action plan of this initiative is focussing on three areas:

  • Simplification and Handholding: Easier compliance, easier exit process for failed startups, legal support, fast tracking of patent applications and a website to reduce information asymmetry.
  • Funding Support and Incentives: Exemptions on Income Tax and Capital Gains Tax for eligible startups; a fund of funds to infuse more capital into the startup ecosystem and a credit guarantee scheme.
  • Industry-Academia Partnership and Incubation: Creation of numerous incubators and innovation labs, events, competitions and grants.

Contributing to the Prime Minister’s vision of an ‘Aatmanirbhar Bharat’, Startup India has been supporting entrepreneurs and transforming India into a country of job creators rather than job seekers.

 

The National Startup Day, celebrated on January 16th every year, is an ode to commemorate the inception of Startup India and the wave of entrepreneurship in the nation. As the government progresses towards building the ‘New India’, Startup India is determined to take along the visionary entrepreneurs and budding startups to accelerate India’s growth journey.

Fostering a fruitful culture of innovation in the country is a long and important journey. This initiative will go a significant way in reiterating Government of India’s commitment to making India the hub of innovation, design and Startups.

 

According to linkedin.com & startupindia.gov.in


Kyna ( Collect) - WORLDKINGS (Source of photos: Internet)

 

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