Running any business is a matter of much dedication, strategy planning as well as having an eye for detail. With proper coordination of your ideas, you can ensure that the bsuiness thrives. Start-up India is a flagship initiative of the Government of India, intended to catalyse start-up culture and build a strong and inclusive ecosystem for innovation and entrepreneurship in India. Since the launch of the initiative on 16th January, 2016, Start-up India has rolled out several programs with the objective of supporting entrepreneurs, and transforming India into a country of job creators instead of job seekers. The broad scope of Start-up India’s programs is outlined in the Action Plan below, and is managed by a dedicated Start-up India Team, which reports to the Department for Industrial Policy and Promotion (DPIIT). The 19-Point Action Plan envisages the following forms of support for Start-ups, and more: - Enhanced infrastructure including incubation centres- Easier IPR facilitation, including easier patent filing- A better regulatory environment including tax benefits, easier compliance, improved of setting up a company, faster exit mechanisms and more- An economic stimulus in the form a INR 10,000 crore Fund of Funds managed by SIDBI, with the goal of increasing funding opportunities- This website, also known as the Start-up India Portal, which offers a range of useful resources and a vast networking database for entrepreneurs and other stakeholders in the Start-up ecosystem- A toll-free helpline and quick email query resolution for start-upsThere are different types of business these days, and it is important to have your concept regarding them very apparent to succeed. The various types of business like the entrepreneurs and the start-ups vary from each other, and there are some fundamental differences. It is important that these differences be understood and addressed well so that you can successfully conduct the business. India was once considered a very difficult jurisdiction for a company to commence operations. But over the last two decades, it has seen a deluge of billion-dollar companies, with many in upcoming sectors like financial and education technology.Nearly 67 of the 100 unicorns — unlisted firms with valuations exceeding $ 1 billion — came into existence in India after 2005, a Credit Suisse report said earlier this month, crediting the change in the regulatory, business and funding environment for the rapid rise in company formation over the last two decades.Even as India continues to improve its annual Ease of Doing Business ranking, its startup ecosystem appears to be losing steam. According to the global innovation mapping and research company StartupBlink, which gathers local data of every country to rank their startup ecosystem based on the quality of startups, business environment coupled with the quantity, India has moved down from 17th position in 2019 to 23rd this year out of 100 countries. The third-largest ecosystem – India, in terms of number of technology startups, has been ranked even behind emerging ecosystems such as Estonia, Lithuania, Brazil, Denmark etc. The ranking has been led by the US, the UK, and Israel while China has improved its rank by 13 spots to 14th position this year and Japan stood at 21st spot.Moreover, among the top 100 startup cities, only four India cities were captured. Bengaluru (down by three ranks to 14th position), New Delhi (up by three spots to 15th position), Mumbai (improved by seven spots to 22nd position), and Hyderabad (falling 21 ranks to disappointing 96th position). Sources- Various, Britannica, Wikipedia..
Sector: START UPS, ENTREPRENEURSHIP, BUSINESS 11, Jan, 2022 RAGHAV CHANDRA