Has Indian startup eco-system seen a better initiative than this? Startup India Standup India?
With Government of India’s Startup India, Standup India initiative, that is intended to build a strong ecosystem for nurturing innovation and Startups in the country, I am seeing the Sun of new hopes for creating something on the face of an uncertain next.
Since the thought of building the Startup ecosystem has got attention from the Government, the economy is going to be benefited from it. You get better at what you focus on!
Highlights:
- Rs. 10,000 crore fund for startups
- A single point of registration for startups
- A simplified regulatory regime based on self-certification
- A fast-track mechanism filing patent applications
- A credit guarantee fund for startups
- Tax exemption for three years, and capital gains
- A Startup India Hub for collaboration
- Relaxed norms of public-procurement
- Faster exits for startups
- Atal Innovation Mission to encourage entrepreneurship and innovation
- Innovation focused programs for students
- An annual incubator grand challenge
More Info on Startup India Standup India Initiative
- Startup India Action Plan (PDF download)
- Article on NDTV
- Live coverage of the event on YourStory
- What startups have to say about Startup India initiative – Indian Express Article
With this initiative, I visualize that the Indian youth will get better at creating more rather than complying and consuming.
Still today, many smart grads think that since they’ve finished their degree of education, they should get a higher paying job if they “comply” to the set standards and commonly accepted norms. Not an effective strategy in 2016. A better way is to create something that only you can create. Be a Linchpin!
Why it is a better way?
Because you will be the first in your own creation. Rather than worrying about getting chosen, you will be able to choose!
Is it a silver bullet?
No, it is not and I am sure this initiative will pass through iterations and improvements in its due course but this is the nature of any new creation … and guess what, effective startup founders are comfortable dealing with uncomfortable situations with ease. Be one.
Opportunity is to focus less on compliance and more on creation … create something today. Let us Start-Up India!
