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The Centre will organise the first-ever Startup India "Innovation Week" from Monday to bring together the country's key startups, entrepreneurs, investors, incubators, funding entities, banks, policymakers, etc under one platform to celebrate entrepreneurship and promote innovation, and to showcase the spread and depth of entrepreneurship across India, an official statement said.
According to the Commerce and Industry Ministry statement, the Department for Promotion of Industry and Internal Trade (DPIIT) is organising the virtual week-long innovation celebration, from January 10 to 16, which also aims to commemorate the 75th year of India's independence 'Azadi Ka Amrit Mahotsav' and is designed to showcase the spread and depth of entrepreneurship across India. Interestingly, in the startup world, 2021 has been recognised as the 'year of unicorns,' with 40+ unicorns added in the year.
India is emerging as a global innovation hub, boasting the world's third-largest startup ecosystem. | Pixabay
India is emerging as a global innovation hub, boasting the world's third-largest startup ecosystem. The DPIIT has recognised more than 61,000 startups as on date. These startups, representing 55 industries and spread across 633 districts with at least one startup from every state and UT, have created over 6 lakh jobs since 2016. As many as 45 per cent of the startups are from Tier-2 and Tier-3 cities and 45 per cent of them are represented by women entrepreneurs.
With the participation of states/UTs and various departments of the Central government, the week-long programme will address key aspects of the startup ecosystem through interactive sessions, workshops, and presentations based on themes such as Academia & Mentorship Support to Startups, Incubation and Acceleration Support to Startups, Market Access through Corporates & Government to Startups, and Funding & International Avenues to Go Global.
As many as 45 per cent of the startups are from Tier-2 and Tier-3 cities and 45 per cent of them are represented by women entrepreneurs. | Photo by Jason Goodman on Unsplash
In addition, based on the identified themes, there will be various parallel activities such as Experience Booths, Pitching or Reverse Pitching Sessions, and Innovation Showcases. (IANS/ MBI)
(Keywords: India, global innovation, Industry, Commerce, startup, Innovation Week, Startup India, Centre)
The major Challenge is to make the Youth of the Country Entrepreneurial and not Job Seekers : Venkaiah Naidu
- At a time of tepid job growth and continuing income disparities, the major challenge is to make the youth of the country entrepreneurial and not job seekers, Vice President Venkaiah Naidu said on Thursday.
“Disparities continue to remain in India and so there is a need for inclusive growth… there is the need to take care of the suppressed, oppressed and depressed,” Venkaiah Naidu said at the Bharatiya Yuva Shakti Trust’s (BYST) silver jubilee celebrations here with Britain’s Prince Charles as the chief guest.
“The challenge for us is to make the youth entrepreneurial, and not become job seekers,” Venkaiah Naidu said pointing to the NDA government’s various initiatives to encourage youth enterprises like Startup India, Standup India and the Mudra financing scheme for underprivileged sections.
Modelled on Prince Charles’ Trust for business startups, BYST, founded by Lakshmi Venkatesan, daughter of former President R. Venkatraman, is engaged in building rural entrepreneurship — “grampreneurs” — as also enterprise among under-privileged sections, which includes business mentoring. The current BYST chairman is Bajaj Group chief, Rahul Bajaj.
“Without mentoring, it would be very difficult to set up startups, with all the business, marketing and other vital issues involved in the first two-three years,” Prince Charles said in his address at the International Mentoring Summit organized by BYST to mark its 25 years.
“What amazes me are the sheer number of jobs these young entrepreneurs had created. The aim of such a project should be to create a virtual cycle of creating entrepreneurs who can then invest in the future of business,” Charles said referring to his trust.
BYST was officially launched in 1992 by Prince Charles and expanded its operations to six major regions of India.
Out of these six regions, four — Delhi, Chennai, Pune and Hyderabad — run the urban programme while two regions — Haryana and Maharashtra — run the rural programme.(IANS)
Washington: Celebrating India’s achievements, the MIT India Conference will focus on how to create a thriving startup ecosystem in India to put Prime Minister Narendra Modi’s “Startup India” initiative into action.
Organized by the MIT Sloan School of Management in collaboration with the greater MIT community in Cambridge, Massachusetts on April 3, the conference plans to address all levels of entrepreneurship, according to a media release.
These include from scaling startups and addressing the challenges early startups face to social endeavours and sustainability.
With the “Startup India” initiative receiving a five-fold increase in its funding along with government plans to open new startup incubators, the objective becomes how best to sustain and build off of this momentum, it said.
This year’s conference will also feature a showcase of innovative projects being developed by MIT students and researchers with potential application for India.
The MIT India Conference aims to celebrate the achievements of India globally, as well as discuss future collaborations between India and the world that could help accelerate innovation into the future. The MIT-India conference has established itself as an important forum for leaders in industry, academia, and policy to discuss current issues and future innovations in the context of India, in the region and abroad, the release said.
Slated speakers and panellists include Arvind Subramanian, Chief Economic Adviser, Government of India; Mukesh Aghi, President, US-India Business Council; Gururaj Deshpande, Founder-Chairman, Sycamore Networks and Ashish Hemrajani, Founder-CEO, BookMyShow.com.
Others include Sorin Grama, Founder-CTO, Promethean Power Systems; Nishant Rao, COO, Freshdesk; Vivek Prabhakar, Founder-CEO, Chumbak; Anuradha Acharya, Founder-CEO, MapMyGenome India; Akash Bhatia: Founder-CEO, Infinite Analytics; Venkat Maroju, CEO, SourceTrace Systems; Anjana Reddy, MD, Universal Sportsbiz Pvt. Ltd and Zenobia Moochhala, Co-Founder, Care.com. (Arun Kumar, IANS)
New Delhi: Aiming to expand the number of startups in India, Finance minister Arun Jaitley on Saturday said that his government will put a new tax regime for startups.
Claiming that the tax regime would usher in a new era for the startups, he further said, “it is a final break from the conventional License Raj of India”.
Underlying the importance of startups, the finance minister said that these small business organizations would serve as an alternate engine of growth during the poor phase of the world economy.
The Human Resource Development Ministry and the Department of science and Technology have agreed to jointly assist an initiative to set up 75 startups.
Notably, the HRD Ministry was already assisting the startup incubation centers in the NITS, IITs and IISERs.
‘Startup India’, held at Vigyan Bhavan witnessed the presence of over 1500 top entrepreneurs across the country.
During his address, Jaitley said “I must confess that we normally have a large number of formal launches in this plenary hall of Bigyan Bhawan. But this one is with a difference. Because it is probably the first time I see a large number of potential entrepreneurs here, most of whom I am not familiar with. Otherwise, at the formal launches, we always have the usual suspects.”
Masayoshi Son, founder and CEO of Soft Bank, and Travis Kalanick, founder of Uber were among the other speakers.
Prime Minister Narendra Modi is expected to meet with the entrepreneurs.(Inputs from agencies)