15/01/2016
Start up india ; stand up india
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Main intention of this campaign is to create an environment where people itself can create an job is the idea behind the project.
Ie : young educated indian , not from traditional business family to take up → entrepreneurship.
Because in india, bank do not encourage young people to take up innovative ideas ( since success ratio is very less at the same time , default rate is high)
So young people and their ideas fall under the mercy of angel investor and venture capitalist.
But situation in india is far different from silicon valley , where many angel investor will be present ( eg - Apple product are helped by Angel investor )
From this background we can understand the importance of this campaign. So what new in this ??
1. It reduce the regulatory procedure to start up for younger minds.
2.it make their innovative ideas into profitable venture by developing many incubation centers.
What this incubation centers do ???
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1.connect various academic institution like ( IIT, NIT , AIIMS ) to analyse the idea.
2.prepare proper plan to them , identity the ways for profit to them.
3.help in recruiting many right people.
4.help in initial seed funding.
5.by their own example , encourage the banks to fund new start ups.
But still ,
Points need attention are
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1. Bankruptcy law - which provide easy exit to failed start up.
2. For longer profit for economy , funding needs to be come from market
3.ease of doing business should improve from every aspects of start up.
4.tax incentives should be given to first generation start up.
5. Angel investor funds should not be treated as taxable income.
However , this initiative will help in realising the goals of "making india" & "skill india" .