What Indian start-ups expect from the government
8 March 2019 12:51 AM GMT
The growth of the scene should go as far as 2,000+ new startups created each year by 2020.
- The growth of the scene should go as far as 2,000+ new startups created each year by 2020, and job creation from these entrepreneurs go from 65-75k as of today to 250-300k by 2020.
- Bangalore (now Bengaluru) and the New Delhi area account for 28 per cent and 24 per cent of the startups in India, although emerging scenes pop up around the country, from Mumbai to Hyderabad, Pune or Chennai.
- In September last year, some 26,000 pharmacies in Bengaluru, India’s startup capital, protested for the rise of online competition and new regulation that did little to safeguard their old-world businesses.
- Launched in 2016, the Startup India initiative promotes and assists entrepreneurship by mentoring, nurturing and facilitating startups throughout their life cycle.
- Apart from the scheme ‘Fund of Funds’ which helps startups in gaining access to funding, it supports with mechanisms that comprise of online recognition of startups, Startup India Learning Programme, Facilitated Patent filing, Easy Compliance Norms, Relaxed Procurement Norms, incubator support, innovation-focused programmes for students, funding support, tax benefits and addressing of regulatory issues.
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