Indicating more concreted measures for the country’s flourishing startup ventures, Prime Minister Narendra Modi declared that the government will unveil an Action Plan – ‘Start –up India, Stand-up India’.
The Prime Minister said that the programme will be designed to suit Indian conditions. Besides, focus would be made for ensuring benefits for the youth from the lowest strata of the society.
The effort is expected to give boost to his Independence Day speech last August where he envisaged the Action Plan.
As per the indications by the PM, the Plan may widen the present startup ecosystem by including educators and institutions.
“A structure will be presented before you. This programme will be connected to the country’s IITs, IIMs, central universities and NITs. Wherever there are youth, they will be linked through ‘live connectivity,”
It is expected that the new initiative is to widen the startup revolution to more locations and centres as universities and other educational institutions can give rapid pace to the initiative.
India is having one of the most vibrant startup ecosystems in the world with Bangalore and New Delhi emerging as hot startup cities.
Already, government has designed couple of programmes for the startup sector.
The Self Employment and Talent Utilisation (SETU) programme is the pioneer one. SETU is a techno-financial incubation and facilitation programme to support all aspects of startup business and other self employment activities particularly in the technology driven areas.
India Aspiration Fund (IAF) and SIDBI Make in India Loan for Enterprises (SMILE) schemes were also tailored as startup promotion measures.