Start-up India Stand-up India
The Prime Minister of India, Narendra Modi has announced to launch the Start-up India movement on 16 January, 2016 in New Delhi. This event is expected to be attended by top CEOs and founders of major Indian startups and inaugurated by the Union Minister of Finance and Corporate Affairs Arun Jaitley.
This news is celebrated by both existing and budding entrepreneurs of this nation. Well, why wouldn’t they, when so many incentives are promised to be in store for them. Nirmala Sitharaman, Minister of State for Commerce and Industry, is stated to be the Guest of Honor.
Let us know a little bit about the start-up history of India and how this movement might affect us.
A start-up is any new business venture. To build the nation’s economy, having many new start-ups is better than having a few established businesses. It encourages more and more youngsters to turn into entrepreneurs. A start-up is relatively small scale and has young talent as its main resource. The various steps in the life cycle of a start-up can be mainly classified as under:
- The idea behind the start-up
- Accumulating Resources
- Finding Finance
- Start Growing
Being a young and developing nation, there is no dearth of ideas or resources in India. However, the deciding factor is finding financial funding. This newly proposed movement will hopefully make it easier for start-ups with the help of Government loans.
If the Economic Survey 2015 is to be believed, India is currently the fourth largest startup hub in the World with over 3,100 of them. And when measures like these are being taken by the GoI, we are sure to move up the ladder. This event will be telecast live in IITs, IIMs, NITs, IIITs and Central Universities and to youth groups in over 350 districts of India. So let us wait for the action plan being revealed this 16th of January.