10 Things You Need To Know About #StartUpIndia Campaign – Fiinovation

The Prime Minister after announcing the much anticipated #StartupIndiaStandUpIndia Campaign during his Independence Day Address is finally going launch the campaign on 16th January, 2016. On the day the launch event started with some of the eminent personalities sharing their views on the campaign. Here is the list of few key points that came out from the launch event:

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Source: The Times of India

  1. The government will put in place a new tax regime for startups as it looks to unshackle them from the regulatory regime for large companies.

  1. As per Narayana Murthy, Start-Ups will attract a lot of finance and will create 3 to 4 times more jobs than listed companies.

  1. The Finance Minister (@arunjaitley) believes that #StartUpIndia movement will put an end to license raj and ensure there is restriction on the role of state in entrepreneurship.

  1. The government plans to define a new category of business — ‘Innovative Start-ups’ — to distinguish them from micro, small, medium and large enterprises that are built on conventional business models. There would be a special support structure for such innovative start-ups, including funding from the government.

  1. Stand Up India scheme will be separately launched. It will help women and SC/ST entrepreneurs.

  2. Government will allocate budgetary funds to fund entrepreneurs that will help create jobs for millions of people entering the workforce.

  1. India can be bigger in momentum than China in next 10 years; 21st century belongs to India: Softbank CEO.

  1. Of $18 billion pumped into Indian startups between 2010-15, $9 billion came in 2015 alone.

  1. @Olacabs Co-Founder Bhavish Aggarwal said, “Lack of skilled manpower was one of the biggest challenges we faced.” when asked during the #StartupIndia launch event on problems faced by them.

  1. Tapan Ray of Corporate Affairs at #StartupIndia said, “We are looking forward to develop a system which will help #startups register within 24 hrs.”

The Action Plan will be unveiled by the Indian Prime Minister Narendra Modi and it is aimed to boost economic growth by attracting investments and promoting entrepreneurship, thus creating jobs for the aspiring Indians. There is a lot of expectations from the government and it is pushing skill development, digital initiatives, manufacturing and now entrepreneurship, thereby connecting all the dots that needed to be touched to maximise the potential of Indian youth.

For more updates of #StartupIndia campaign stay connected with our Facebook page or Twitter handle.

For any questions send in your queries to media@fiinovation.co.in

By Rahul Choudhury

Media & Communications, Fiinovation

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