Startup India is one of the biggest missions launched to uplift and nurture the growth of the startups in India.
The Startup India is a flagship initiative, by the Government of India under the Ministry of Commerce and Industry. This initiative taken nationally was first announced by Indian Prime Minister Narendra Modi, during a speech in a campaign on 15th August 2015.
This was officially launched on 16th January 2016 as a clarion call to the innovators, entrepreneurs, and thinkers of the nation. The event was inaugurated by former Finance Minister of India Arun Jaitley.
What is startup sambandh?
Startup sambandh is a platform to provide all the startups, small businesses, freelancers, work from home, entrepreneurs, digital nomads, remote workers, small business owners, small businesses, small business ideas, small business names, small business owners, Startup sambandh is a community for entrepreneurs and startups.
Startup India is intended to help the new startups, by building a strong ecosystem, empowering them to sustain economic growth, and creating large-scale employment opportunities.
The aim of the national mission is to lay a foundation, for building a self-reliant India bestowed with the largest youth population with true potential and urge to innovate and develop.
The Startup India is one of India’s fast-paced Journey, traveling in with a lot of entrepreneurs who are diversified with creative and enormous knowledge.
“Startups are the engines of exponential growth, manifesting the power of innovation. Several big companies today are startups of yesterday. They were born with a spirit of enterprise and adventure kept alive, due to hard work and perseverance and today have become shining beacons of innovation”.
- Shri Narendra Modi
Prime Minister of India
Key Programs of Startup India
Startup India Action Plan
The Action Plan comprises 19 action items, such as “Simplification
and Handholding”, “Funding support and Incentives”, and “Industry-Academia, partnership, and incubation”.
- The Action Plan laid the foundation of the Government support, schemes and incentives envisaged creating a vibrant startup ecosystem in the country.
- The Action Plan also provides legal support and fast-tracking patent examination at a lower cost and faster exit for the startups.
- It provides a compliance regime, based on self-certification, rolling out of mobile applications and portals.
- The Action plan guarantees credit funds for the startups, and tax exemption benefits on capital gains and investments above the Fair Market Value, for 10 years.
- The Action Plan organizes startup fests for showcasing innovation and a platform to collaborate by launching Atal Innovation Mission with a self-employment and talent utilization program.
Startup India Hub
Startup India Hub is a one-stop platform for all the stakeholders in the startup ecosystem to interact amongst each other, exchange knowledge, and form successful partnerships in a highly dynamic environment, allowing the startups to easily access the free tools and resources.
- The Startup India Learning Program (SILP) is a four-week free online learning program that helps startups to innovate and discuss their business plans.
- Through the virtual Incubation support, the startups will have access to information and various sources, government schemes, and industrial programs.
- Dedicated support team to answer queries by responding through mails or Twitter handles or a call center.
The Startup India Yatra was launched with an aim to reach Tier 2 and Tier 3 cities of India for exposing entrepreneurial talent and helping to develop the startup ecosystem.
It is a great platform that allows engaging with the startup ecosystem through extensive outreach via boot camps, social media, print, and digital platforms.
- The Startup Yatra has been conducted across 23 states in 220 districts impacting 78,346 aspiring entrepreneurs.
- The ‘Startup India Mobile Van’ travels across States and records ideas.
States Startup Ranking
The main aim of Startup India is to achieve in building a strong ecosystem throughout India, by bringing in collaborations between investors and innovators and supporting their success through creation. They also assess the States and UTs on key areas of interventions that are imperative to develop a healthy startup ecosystem.
- Facilitates states to identify and learn to replicate good practices.
- Highlight the policy intervention by states for promoting the startup ecosystem.
- Foster competitiveness among states to create the best startup ecosystem.
Startup India is giving prominence importance to the women entrepreneurs by giving them an opportunity, in society and generating a lot of employment opportunities for women candidates. In India, there is a need for sustainable growth of women entrepreneurs, to promote balanced growth in the country, by strengthening the women
entrepreneur ecosystem through various initiatives and policies.
- Women Capacity Development Program (WING) that provides capacity development for the women startups and interactions with venture funds supported by SIDBI and lending institutions.
- A separate webpage is designed for women entrepreneurs in a collated format all the incentives for women entrepreneurs as per the State Startup Policies.
Taking Startup India Global
The key objective of the Startup initiative is to help to connect Indian startups globally through various G2G international partnerships, and participation in various International Forums.
- India Israel Innovation Bridge
- India Portugal Startup Hub
- India Singapore Entrepreneurship Bridge
- India Sweden Startup Sambandh
- India Dutch Startup Link
- India Finland Bridge
- Indo Korea Startup Hub
- Indo Japan Startup Hub
- India Russia Collaboration
- India UK Collaboration
Startup India Showcase
The Startup India is an online discovery platform for the most promising startups in the country. This great platform was launched on 6th October 2020. The startup showcases in finance, social, health, and education.
- Star repository
Startup India Seed Fund Scheme
One of the difficult challenges faced by new startups or entrepreneurs is the capital invested. This can become a big hurdle for the business enterprise and hence the Startup India Seed Fund Scheme has an outlay of Rs. 945 crores to provide financial assistance.
- SISFS is a sector agnostic and aims to bridge the gap for funding for startups which has widened in many areas.
- Completely online application, process, and scaling up through convertible debentures, or debt or debt linked instruments.