Prime Minister Narendra Modi will unveil the Start-Up India mission on Saturday.
The Start Up India mission to be unveiled on Saturday envisages technology business incubators and research parks.
The Human Resource Development Ministry and the Department of Science and Technology have agreed to partner in an initiative to set up over 75 such startup support hubs in the National Institutes of Technology (NITs), the Indian Institutes of Information Technology (IIITs), the Indian Institutes of Science Education and Research (IISERs) and NIPERs or National Institutes of Pharmaceutical Education and Research.
In top gear
* With 4,200 startups, India ranks 3rd globally.
* Of $18 billion pumped into Indian startups between 2010-15, $9 billion came in 2015 alone.
* 9 Indian startups have been valued at more than a billion dollars.
* Increase in number of incubators: 80 in 2014, 110 in 2015; 50% outside Delhi, Bengaluru, Mumbai.
9:54 am: Mr. Modi tweets: "#StartupIndia movement begins today. This movement celebrates the energy & enterprising spirit of our youth."
09:46 am: First session begins. 21st Century calling: Why is Innovation Important for India? Union Ministers Arun Jaitley, Nirmala Sitharaman, Onno Ruhl, Country Director, World Bank, and Amitabh Kant, Secretary, DIPP will participate in the discussion.
09:45 am: If you did a start-up in 2000 in India, you were called messed up, says Make My Trip Founder Deep Kalra
09:25 am: The eyes of the startup community is now set on the likely unveiling of rules in January that would, they hope, make it easy for young ventures to do business in India. What's a startup? Awaiting an answer
09:22 am: Google will be offering $15,000 of equity funding for early stage startups at a session called ‘Launchpad Accelerator’ where startups can make live presentations about their business ideas.
09:20 am: Finance Minister Arun Jaitley would inaugurate a day-long workshop on startups to which CEOs and founders of 2,000 Indian startups have been invited.
09:16 am: Softbank founder and CEO Masayoshi Son and Uber founder Travis Kalanick are among 40 Silicon Valley heavyweights expected to attend the ‘Start Up India’ launch.
09:15 am: The Prime Minister had announced the ‘Start Up India, Stand Up India’ initiative in his Independence Day address last year and is expected to announce the specifics of an action plan to back start-ups today.
09:13 am: Currently, the government-backed India Aspiration Fund, announced in the Union Budget with a first tranche of Rs.2,000 crore, acts as a fund that allocates money to different domestic venture funds which provides seed funds to innovators and entrepreneurs.
09:07 am: The Start Up India policy would attempt to address two key concerns the government wants to fix in India’s start-up ecosystem. Read more
09:02 am: The government is also seeking 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.
09:00 am: Prime Minister Narendra Modi on Saturday will release the blueprint of ‘Start Up India’ programme which may include a Startups and Entrepreneurship Law to make it easier for setting up new ventures and closing unviable ones, besides clearing regulatory issues that hamper access to finance.
'Start up India' to be unveiled today -- 16th JANUARY 2015
Reviewed by sambasivan srinivasan