Startups In Nation
Building
Startup
word is in limelight nowadays. It is on
the tips of talented, risk taking, underemployed and unsatisfied Indian youth.
Why it gained sudden attention of public. Why had not been taken seriously
before. What are factors which forced Government of India (GoI) to launch a
program on it. These questions need
answers to understand and evaluate if startups are to see the light of the day.
First,
we need to understand what it is all about. It is not defined exactly or
accurately. It varies according to its use and situation. Some simple
definitions to understand its basics are:
Online
business dictionary defines it as an early stage in the life cycle of an
enterprise where the entrepreneurs move from the idea stage to securing financing,
laying down the basic structures of the business and initiating operations or
trading.
The
GoI has its own definition for startup to facilitate and promote it. As per GoI, startup means an entity, incorporated
or registered in India not prior to five years, with an annual turnover not exceeding
INR 25 crore in any preceding financial year, working towards innovation,
development, deployment or commercialization of new products, processes or services
driven by technology or intellectual property.
Conditions
imposed on startup are: one, that such entity is not formed by splitting up, or
reconstruction, of a business already in existence; two, an entity shall cease
to be a startup if its turnover for the previous financial years has exceeded
INR 25 crore or it has completed 5 years from the date of
incorporation/registration; three, a startup shall be eligible for tax benefits
only after it has obtained certification from the Inter- Ministerial Board,
setup for such purpose.
An
entrepreneurial explosion is seen in India in startups in the technological
space. This leaped from 501 to 4500 in the last five year. Nasscom estimates
funding for startups jumped to $4.9 billion in 2015, compared to cumulative
funding for the four preceding years being $ 3.2 billion. 72% of founders are
below age of 35 years. This achievement has marked India as the youngest
startup nation in the world.
India
ranks third after America and UK in establishing starup. It is situation when
doing business in India is a difficult task for giant houses like Tata,
Reliance etc. This proves that Indian youth have mustered courage to venture
into the risk of a startup giving tough competition to developed countries.
Talented,
adventurous, and energetic Indian youths proved their might by establishing
some successful startups in highly odd conditions. Zomato, Flipkart, InMobi,
Paytm are a few examples to establish this point.
New
government came to power on promises of bringing " Achche Din" for
all. Tech savvy unsatisfied youths are noise creator- in online media. Not
getting proper opportunity, according to their calibre made them
disappointed. To check this growing glooming
situation and matching demanding situation for startup, forced GoI to come up
with a meticulous program to accelerate, facilitate and promote startups.
PM
Modi announced the startup India campaign in his independence day speech last
year to accelerate the pace of creating jobs. He launched startup India program
in a high profile event on January 16, 2016 in Vigyan Bhawan, New Delhi. It was
attended by hundred of investors, entrepreneurs, which include founder of Uber,
Travis Kalanick, SoftBank CEO Masayoshi Son and a many others.
Top
policy makers from various ministries including nine secretaries graced the
occasion. Eleven babus charmed young
businessmen and pledged action. In
general, babus are blamed for go-slow and corruption. But highly positive
attitude of civil servants present, in
events made this event a historic one.
Program
is well designed and intended. It has three heads with well defined sub
clauses: one, simplification and handholding; two, funding support and
intensive; three, industry-academecia partnership and incubation. India will
get first rank leaving behind America and UK sooner than later if stipulated
action plans are implemented - as designed and intended.
Startup
will provide cheap, affordable and accessible solutions to our public problems
to the masses. Youth will become employment creator rather than seeker. It will create employment for youth of their liking. It will enhance
entrepreneurship skills and competition among youth adventurers. One prediction
says that in coming ten years one lakh new startups will come into life and
they will generate about 35 lakhs employments.
This
startup program will build a strong eco-system for nurturing innovation.
Consequently, it will drive sustainable economic growth and generate large
scale employment opportunities for youth of their choice. It will help in
improving the ranking of India in ease of doing business.
It is
a long awaited program. GoI did it to harness and shapeup the atomic like
energy of our youth in nation building. Moreover, it is a step to channelize
and direct youth energy in nation making. This will galvanise youthfulness of India
worldwide.
This
program will assist our youth via different modes in many ways. As a result,
their confidence would increase in our democratic system- particularly in our
administrative setup. Facts, figures of event and detailed pinpointed action
points indicate towards success. And finally, this program would succeed and become
a reality sooner as it is a high demanded social product by our adventurous
youths.
Heera Lal ( Research Scholar, views are personal and
based on different referances)
Referances:
4.
http://www.oecdobserver.org/news/fullstory.php/aid/3546/Start-up_nation:_An_innovation_story.html
7.
No comments:
Post a Comment