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Government to soon come out with enabling ecosystem for start-ups

  • The
    government is working on an enabling framework for start­ups to weed out
    procedural issues, before Prime Minister Narendra Modi makes important
    announcements in December to promote start­ups in the country.
  •  
  • Economic
    Affairs Secretary Shaktikanta Das, while announcing measures to boost
    start-ups, also invited suggestions from the public to improve the ecosystem,

    • The
      government is working on an enabling framework for start­ups to weed out
      procedural issues, before Prime Minister Narendra Modi makes important
      announcements in December to promote start­ups in the country.
    •  
    • Economic
      Affairs Secretary Shaktikanta Das, while announcing measures to boost
      start-ups, also invited suggestions from the public to improve the ecosystem,
      the
      Press Trust of India reported.
    •  
    • In his
      Independence Day speech, Modi had announced a new campaign ‘Startup India;
      Stand up India’ to promote bank financing for start­ups, and offer incentives
      to boost entrepreneurship and job creation in the country.
    •  
    • Recently,
      Minister of State for Finance Jayant Sinha had said, “In early to
      mid­December, the Prime Minister is going to make a series of very important
      announcements on ‘Startup India’, where we will bring together the work that we
      are doing, and make some important decisions about how we are going to take
      forward India’s entrepreneurial ecosystem.”
    •  
    • Sinha said
      the PM’s announcements would ensure that India, as a country with respect to
      start­ups and entrepreneurs, “is going to be the best in the world”.
      The government, he added, is working very hard to make it easy for entrepreneurs
      and start­ups to do business, and also ensure that financing is easily
      available.
    •  
    • Another area
      where the government has put a lot of stress is to foster innovation in
      research centers and universities through the network of innovation laboratories.
    •  
    • In the Union
      Budget for 2015-16, there were a number of important steps to encourage
      start­ups, including setting up of the India Aspiration Fund and Atal
      Innovation Mission.
    •  

     

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