Start-up India

Start-up India is an initiative first announced by Prime Minister Modi in August 2015

Start-up India is tasked with promoting bank financing for start-up ventures, as a way of encouraging entrepreneurship, and thus job creation. One of its aims is to remove obstacles to start-up creation such as land permissions, and environmental clearances.

Arun Narayan, part of the UK India Business Council team in India explains some of the key benefits of the scheme;

The Start-up India initiative by the Ministry of Commerce is a significant step in the direction of promoting Innovation and Entrepreneurship. The government through its partners like incubators, funding institutions and others is looking to provide support and growth impetus to the fledging start-up ecosystem in India. A fund in excess of £1 billion has also been set up to provide seed and growth stage capital to the companies.”

“This is a great time for UK VCs and businesses to participate and benefit from one of the biggest growth stories of this decade. Opportunities exist for funding, technology exchange and frugal innovation among others. All of which can help reignite growth and bring market efficiencies, thus driving down cost in a developed market like UK.”

Next in this series: Swachh Bharat Abhiyan

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