Nagpur: The start-ups is the new buzz as youth today is fearless and undaunted by risks. Hundreds of professional every year are opting out of the usual package deals to tech giants and blazing their start-up ventures. Today’s youth is believing in themselves than they believe in others to make them a success story. Today Prime Minister Narendra Modi’s ambitious Start-Up India mission is being inaugurated at Vigyan Bhavan in New Delhi.
The Start Up India mission envisages technology business incubators and research parks.
The Human Resource Development Ministry and the Department of Science and Technology have agreed to partner in the 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 National Institutes of Pharmaceutical Education and Research(NIPERs). The Science and Technology Ministry would bear 100 per cent cost to set up business incubators in institutes like NITs. Each incubator would work with 20 budding ventures, and be spread over 10,000 sq.ft. The cost of each incubator is expected to be in the range of Rs. 5 crore to Rs. 10 crore.
The FM also promises friendly tax regime for budding entrepreneurs. The number of IIT/IIM graduates looking to start their own ventures has gone from two per cent a few years ago to nearly 10 per cent now. Last year whooping 1200 technology startups were launched. If compared to the year before the numbers have risen by 40%. Recent Indian technology startups status is higher than that of china but behind US and UK. The startup India mission promises to take startups viral.
The main problem resulting in insolvency leading to running out of funds, it can leave employees without paychecks. It is very important that measures are taken to make startups a running success. A proper system is needed to keep the cycle going. India has got everything that is needed to make us market leaders in technological innovation. The youth is full of ingeniousness to make an Indian version of Silicon Valley and beyond.
As a true top-down phenomenon the startups India mission will take down class, wealth and other barriers in our society and uplift the youth to be the flag runners of India. This is the right time if you are planning to START-UP.
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