Startup India starts up in style

When I was in school, I have often watched cricket matches on Television. It was a very comfortable way to enjoy the game with numerous additional benefits. But today was a very different experience. Without a Television, in the comfort of my home, I sat on my laptop and watched the live coverage of the Startup India Standup India event without a hitch. One who has grown up in India during the 1990s cannot imagine watching a webcast of a live government event, on a government website, running without a hitch. Thanks are due to my internet service provider too.

The Prime Minister Shri Narendra Modi stole the show as usual. I loved the spirit of his talk – lets stop doing things to allow startups start doing things. The action plan he unveiled at the end of the day was reflective of this philosophy. He pointed out to a few important things in the action plan and I enjoyed listening to them. I kept smiling all the way, as he kept shared what is planned to be stopped:

  • No Labour inspector visits for the first three years
  • No income tax for first three years
  • No capital gains tax if you sell your property and invest in your venture
  • No more prior experience or minimum turnover to apply for public procurement

I loved the initiatives around what they intend to start as well:

  • Fast track patent application processing
  • Government sponsored patent filing support (fully free)
  • Bankruptcy Law
  • 1 Day startup App
  • Strengthening of the incubation system
  • Greater focus on knowledge backed and technology enabled innovations
  • Tinkering labs
  • Pre-incubation support system
  • Seed capital

I especially look forward to seeing the ‘Grand Challenges’ part of the Innovation mission as that is where our much touted Google / Apple could be.

Overall an impressive show. The remaining day was equally interesting and inspiring. I truly wish all of that which is spoken actually sees the light of day.

Though most of the above are potential action items, at least we did not listen to very high level, broad based, no-one-knows-whose-action-it-is type of statements. Having been one associated with the entrepreneurship ecosystem for a decade now, I can tell you for sure – the people who have prepared this document have heard what stakeholders in this ecosystem are saying. Simple. Wondering why it took so many years to hear this. Glad that it has been heard and acted upon.

Very impressed and inspired by the attention my domain of work is gaining in this country. If this trend continues it will not be far when India will regain her glory as the land of opportunities, progress and prosperity.

In a way this program is an exciting pitch. I now want to read that action plan. I now want to  know who is going to implement what. I now want to know where I can participate. This is an example of a great pitch.

This blog is my feeling after listening to an interesting day of inspiring people. I am sure the details will be made available in the public domain soon. I am sure you will look up to it as much as I do.

Startup India. I am sure if you do, we will Standup too.

 

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2 thoughts on “Startup India starts up in style

  1. Raj, has someone defined “who is a start up?” and I don’t understand this rhetoric of only “young people” or IT/ITES ideas being synonymous with the concept of being a “startup”. Is that how it is? Can you please clarify?

    1. Absolutely not! A startup is defined by different people in different ways. At the heart of it is the beginning of something new by one or a group of people. Technically the search for a new ‘means-ends combination’ is what an entrepreneur does when he/she starts up. Even during the Prime Minister’s talk last Saturday he highlighted this point. He wanted our people to come up with new solutions to the millions of problems including but not limited to taking education to the tribals, enabling farmers with information and technology, improving healthcare with innovations, reducing the immense food wastage happening in the agri-supply chain, amongst others.

      There is scope to startup in every sphere of life – IT is just one of them. Sadly equating startups to IT ventures is a big myth floating in society today.
      Lets all begin something new, in our own domains. Every domain needs innovation to take this country ahead.
      Hope it answers your question!! Happy Starting!!

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