6 government initiatives taken this year for the Indian start-up eco-system

The entrepreneurial movement began way back even though in a small way with the establishment of NISIET (National Institute of Small Industry Extension Training) for promoting entrepreneurship amongst the people of India. Since then, the startup culture in India has come a long way, with many young minds jumping into the digital bandwagon. India as an entrepreneurial destination is also getting a strong support from the government, which in turn is keen to create a similar chapter like the tech giants abroad. The entrepreneurial sector is also a prime job creator and presents an opportunity for young minds to shape their dreams in their home land. Here are 6 notable initiatives taken by the government: 2015 budget allocation of Rs. 10,000 cr The Finance Minister during his budget speech allocated Rs.10,000 cr for start-ups (Photo courtesy The Financial Express) The 2015 financial budget presented by the Finance Minister showed a promising start to boost the start up ecosystem. This budget made a clear allocation of INR 10,000 crore to fund the young entrepreneurs. This budget has been picked up by different states according to their own policy implementation; also depending on their historical, political, law and infrastructural condition. Start-up India (Photo courtesy: narendramodi.in) In the Independence Day speech delivered by the Prime Minister, a “Start up India program” was announced to provide further financial support to young entrepreneurs who plan to launch their initiatives in India. This program was aimed at encouraging local research programmes as well to provide convenience to the young Indian entrepreneurs who migrate to other countries to fund their projects. Through this program, financial access will be provided through 1.25 lakh bank branches in India. India Aspiration Fund The Finance Minister under the India Aspiration Fund has set aside an initial corpus of Rs 2,000 crore to fund the Indian start up growth story The recent launch of India Aspiration Fund (IAF) by the Finance Minister also sets aside an initial corpus of Rs 2,000 crore to fund the Indian start up growth story. The IAF is expected to generate huge crore of equity investment in startups, with Rs.753 crore of the Rs.2,000 crore ($305M) seed capital already sanctioned. Micro Units Development Refinance Agency (MUDRA) This initiative was launched with an initial corpus of 20,000 crore to enhance the growth of small businesses Micro Units Development Refinance Agency (MUDRA) Bank was launched with an initial corpus of 20,000 crore to enhance the growth of small businesses by providing them accessible credit facility. As a part of the initiative, 1,000 crore was set aside with a clear focus on start-ups. Entrepreneurship and Skill Development Ministry Sarbananda Sonowal was appointed as the entrepreneur and skill development minister (Photo courtesy: Wikepedia) A federal ministry dedicated to entrepreneurship and skill development shows the present government’s focus to coincide skill development with the start-up growth story. In brief, India has a target of achieving skill development for 500 million people and private players are to be a vital part of this achievement at ground level Entrepreneur friendly legal bankruptcy framework With this initiative the government has made it easier for people to experiment with new ideas (Photo courtesy: The Live Mint) An Entrepreneur friendly legal bankruptcy framework is also been proposed to be developed by the government. It will help the SME’s to make an easy exit and open doors to more entrepreneurs to experiment with their ideas, since the risk attached is less. Also, a nationwide “District level Incubation and Accelerator Programme” has been initiated to provide financial support for incubation of new ideas and providing necessary support to accelerate entrepreneurship.

Entrepreneur friendly legal bankruptcy framework

Leave a Reply

Google Agrees to Pay $68 Million to Settle Voice Assistant Eavesdropping Lawsuit

TikTok Star Khaby Lame Signs Massive $975 Million Deal for His Global Brand

GLP-1 Weight Loss Drugs Could Save Airlines $580 Million a Year in Fuel Costs, Study Finds

Teyana Taylor Turns Heads in See-Through Schiaparelli at Paris Fashion Week

‘Send Help’ Rachel McAdams Unleashes Dark Comedy Fury in Sam Raimi’s Gruesome Return

Leonardo DiCaprio Boards Urgent Sundance Documentary ‘The Lake’ Ahead of World Premiere

Google Agrees to Pay $68 Million to Settle Voice Assistant Eavesdropping Lawsuit

Entellus Industries Raises $5.5 Million to Scale Rare Earth Metal and Alloy Manufacturing in India

EU Opens Investigation Into Elon Musk’s Grok AI Chatbot

Venture Catalysts Secures ₹150 Crore to Scale Multi-Stage VC Platform, Expands AI and India Presence

Samsung and Startup India Join Forces to Ignite Youth Innovation in India’s Small Towns

PedalStart’s ‘Founder-Investor Fusion’ Closes Strong, Uniting 350+ Founders With 220+ Investors Across 4 Cities

Research shows that a majority of Christian religious leaders accept the reality of climate change but have never mentioned it to their congregations

Trump Nominated for Nobel Peace Prize by Netanyahu: Could Be the Final Nail in the Coffin for the Award’s Credibility?

After Air India Dreamliner Crash, Indians Urged to Watch This Netflix Doc on Boeing Cover-Ups

TikTok Star Khaby Lame Signs Massive $975 Million Deal for His Global Brand

TikTok Outage Fuels Censorship Fears as New US Owners Take Control

Long Island Teen Missing for Two Weeks After Traveling to NYC, Family Fears Online Connection

TikTok Star Khaby Lame Signs Massive $975 Million Deal for His Global Brand

TikTok Outage Fuels Censorship Fears as New US Owners Take Control

X Suffers Global Outage, Leaving Thousands of Users Locked Out

Man Caught Smuggling Over 100 Snakes in His Trousers Into China

Pahadi Beach Goa: Where Every Meal Feels Like a Homely Affair

Soul Chef – Feasts From The North East

Apple TV+ ‘The Instigators’ Trailer Out: Matt Damon and Casey Affleck Star in Doug Liman’s New

Home Credit India launches ‘Zindagi Hit!’ social media campaign on Holi

Indian Short-Form Video Apps emerge as competitors to global tech giants

GLP-1 Weight Loss Drugs Could Save Airlines $580 Million a Year in Fuel Costs, Study Finds

BugSpeaks Launches Enhanced 2026 Gut Microbiome Report

Dr Vaidya’s and Baba Sehgal Launch Bold Rap Campaign to Break Intimacy Taboos

Golden Globes

Mark Ruffalo Slams Donald Trump at Golden Globes, Says “This Is Not Normal Anymore”

immigration Politics

ICE Detains 5-Year-Old Returning From Preschool, Sparking Outrage

News

Pennsylvania Grave Robbery Case Uncovers Over 100 Human Remains