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Tag: Startups

Modi Encourages Startups

[New Delhi]Modi Encourages Startups. He informed that his government has launched the Startup India Action Plan to promote budding entrepreneurs in the country. The plan is aimed at giving incentives such as tax holiday, inspector raj-free regime and capital gains tax exemption,
Prime Minister Narendra Modi said that the government is taking several steps to promote young entrepreneurs in the country, adding that startups are no longer confined to big cities.
Smaller towns and villages too are emerging as vibrant startup centres, the Prime Minister said while interacting with young entrepreneurs from across the country, including cities like Dehradun, Guwahati and Raipur
He also said that along with Make in India, Design in India too is important for startups
“Adequate capital, courage and connecting with people are required for excelling in the startup sector,” he said
Modi added that there was a time when startups meant only digital and technology innovation but now things are changing and we are seeing startups in various other fields, including agriculture
“We have started an Agriculture Grand Challenge. We invite more youngsters to ideate on how to transform our agriculture sector,” he added
“Our startups are growth engines. Today’s big companies were startups at some point. I urge the people of India to keep innovating,” he added
He also said that the youth in India is now creating jobs and the government is committed to harnessing the demographic dividend
Commenting on the issue of fund availability for startups, Modi said the government has created a Rs 10,000 crore Fund of Funds
He also said startups can sell their products to the government and it has eased public procurement norms for them

Modi’s Prabhu to Take up Questions From Startups Tommorrow

[New Delhi]Modi’s Prabhu to Take up Questions From Startups Tommorrow
Union Minister of Commerce and Industry, Suresh Prabhu will address the Start up community by answering questions on Startup India.
The objective of the live session is to address concerns and elaborate on the support which they can seek from Startup India.
The live session will be held on Wednesday, 16th May at 4.30 pm on Suresh Prabhu’s social handles – Twitter and Facebook, along with Startup India’s social handles – Twitter, Facebook and YouTube.
As per Ministry ,Participants need to use the hash tag #AskPrabhu and put their questions across before the live session. Select questions will be answered by Suresh Prabhu.

Govt Recognises Only 8,625 Startups

[New Delhi] Govt Recognises Only 8,625 Startups
As per the data available with Startup India, a total of 8,625 Start-ups have been recognised as on 30 March, 2018.
2711 start-ups where incorporated in 2017-18. This information was given by Minister of State of Commerce & Industry, Shri C. R Chaudhary in a written reply in the Rajya Sabha today.
The Minister said that the ‘State Startup Ranking Framework’ is spread across 7 areas of interventions with a total of 38 action points and overall score of 100 marks.
The areas of interventions include
Startup policy and implementation,
incubation support,
seed funding support,
venture funding support,
simplified regulations,
ease of public procurement and
awareness and outreach.

Center Invites Young Start-Ups to Northeast

[New Delhi]Dr Jitendra Singh invites young Start-Ups to Northeast
The Union Minister Dr Jitendra Singh invited young Start-Ups from all over India to come to Northeast and try their fortune through unexplored potentials of the region.
Addressing a gathering of participants, after going through the various stalls put up at the “Skill India” exhibition at the Jawaharlal Nehru Stadium today, Dr Jitendra Singh said, while all the avenues of livelihood and new ventures are gradually getting exhausted in other parts of the country and States, the immense unexplored avenues and potentials of North Eastern region are still available and beckoning the young entrepreneurs to come and try their luck.
Northeast Venture Fund, said Dr Jitendra Singh, is the first dedicated venture capital fund for North-Eastern region and the initiative to set it up began in April last year. He further explained that “North-East Venture Fund” has been set up by North Eastern Development Finance Corporation Ltd (NEDFi), which already has the mandate to encourage entrepreneurship in the region, primarily by offering support to the first-generation entrepreneurs. In addition, the NEDFi also performs the role of hand-holding and capacity building, he said.
Dr Jitendra Singh said, the region has huge potential for young Start-Ups unlike many other parts of the country and hoped that the patronage being provided by the Central government will make up for the constraints faced by a youngster when he sets out to be on his own.
Photo Caption
The Minister of State for Development of North Eastern Region (I/C), Prime Minister’s Office, Personnel, Public Grievances & Pensions, Atomic Energy and Space, Dr. Jitendra Singh going around the various stalls put up at the “Skill India” exhibition, at Jawaharlal Nehru Stadium, in New Delhi on February 18, 2018.