Bengaluru, January 20, 2016: The Union Government has drawn up an elaborate plan to launch Startup India program on January 16. The summit is expected to provide incentives to startups and boost the spirit of entrepreneurship in India. More than 2000 Indian startups, many CEOs and Venture Capitalists from the Silicon Valley as well as India will attend the event and hold day long workshop on drawing up the action plan for startups.
India ranks third in the world with 4,200 startups after US and UK, a number that is expected to rise further in the next couple of years. So, this initiative is a much needed platform to foster the growth of Indian startup ecosystem.
The Startup India summit seeks to address issues like taxation and uncertainty in other regulations. Currently, it is not very easy to set up a new business in India. Such Government driven initiatives will give an impetus to startups in India.
“The startup India initiative aims to make India as the startup capital of the world. The program will boost the economy, open up job avenues, encourage entrepreneurship on a large scale and leverage start-ups globally. With many new E-commerce ventures starting in India, we eagerly look forward to the policy as it will address the problems of technology based startups and introduce a friendly business climate,” said Mr. Rajiv Kumar, Founder & CEO of Hippo Innovations Pvt. Ltd. “It will further drive the country’s economy towards better results. The Startup India program will delve into the issues faced by startups and ease norms for them.” he added.
The program is part of government’s plan to adopt measures to reverse the exodus of technology startups from India. This initiative aims to give a much needed boost to women entrepreneurs also. The event assumes further significance as tech giant Google will also be present and Indian startups can make presentation to its team. Many startups are calling for tax rebates for a period of 1-3 years and easier funding norms. Their concerns will be addressed during the summit.
Corporate Comm India(CCI Newswire)
