{"id":195286,"date":"2022-07-12T19:58:17","date_gmt":"2022-07-12T14:28:17","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=195286"},"modified":"2022-07-12T19:58:17","modified_gmt":"2022-07-12T14:28:17","slug":"70000-startups-the-helping-hand-of-sarkar","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/70000-startups-the-helping-hand-of-sarkar\/","title":{"rendered":"70,000 Startups & The Helping Hand of Sarkar"},"content":{"rendered":"\n

Source<\/strong>: The post is based on an article \u201c70,000 Startups & The Helping Hand of Sarkar<\/strong>\u201d published in the Times of India on 12th<\/sup> July 2022.<\/p>\n

Syllabus<\/strong>: GS3 – Achievements of Indians in Science & Technology; Indigenization of Technology and Developing New Technology.<\/p>\n

Relevance<\/strong>: Start-ups Ecosystem in India<\/p>\n

News<\/strong>: In recent periods, the government has released a detailed \u2018Start-up India Action Plan\u2019<\/strong>, to support and empower start-ups in the country.<\/p>\n

About the Start-up India action plan<\/strong><\/h5>\n

It includes 19 action points focussing<\/strong> on three different categories as given below<\/p>\n

(a) handholding support to entrepreneurs\/start-ups;<\/p>\n

(b) creating funding support and incentivisation mechanisms for start-ups; and<\/p>\n

(c) supporting industry academia partnerships<\/strong> and providing necessary incubation support for start-ups.<\/p>\n

Status of Start-ups ecosystem in India<\/strong><\/h5>\n

Today, India ranks at the third place in the global start-up ecosystem<\/strong><\/p>\n

The sector is also growing at an annual rate of 12-15%. In 2014, the number of start-ups were not more than 400. However, the number of start-ups has jumped to a whopping number of 70,000 in 2022.<\/p>\n

Around 102 start-ups have risen into the $1 billion-plus valuation club.<\/strong><\/p>\n

Why start-ups are significant? <\/strong><\/h5>\n

They contribute to generating wealth and employment in the country.<\/p>\n

They propel innovation and technological development across key development sectors.<\/p>\n

What were the factors that have led to high growth in the start-ups sector in India?<\/strong><\/h5>\n

There has been an enabling environment that has led to a vibrant startup movement across the country.<\/p>\n

The Union government launched \u2018Start-up India Stand-up India\u2019 <\/strong>in 2015.<\/p>\n

The government unlocked the space sector and opened it up to private players.<\/p>\n

The start-ups have been receiving funding without any interruptions. For example, even the Covid pandemic, could not impact funding<\/p>\n

The Department of science and technology (DST)<\/strong> reshaped the start-up culture<\/strong> in the country. It launched the Technology Business Incubator (TBI)<\/strong> having a network of more than 160 incubators.<\/p>\n

The DST also set up the Seed Support System <\/strong>in the TBIs for providing much needed early-stage funding to start-ups.<\/p>\n

Under the National Initiative for Developing and Harnessing Innovations (NIDHI) TBI programme,<\/strong> 105 incubators have been set up across the country, over the last five years.<\/p>\n

What are the<\/strong> noteworthy contributions of DST\u2019s programme on innovation and entrepreneurship? <\/strong><\/p>\n

The TBI network identified and supported start-ups during the pandemic period.<\/p>\n

The network of incubators has supported more than 12,000 start-ups which include 1,500-plus women-led start-ups. These start-ups have filed more than 900 patents and produced more than 1,15,000 new jobs.<\/p>\n

Service Tax exemption to both incubators and incubatee.<\/p>\n

Permission to hold equity by DST-supported incubators<\/strong> (not for profit legal entities) i.e., converting government grants to equity subscription.<\/p>\n

CSR funding for incubators.<\/p>\n

First government agency to<\/p>\n

–<\/strong> offer programmes in PPP mode for scouting and supporting innovation and start-ups:<\/p>\n

–<\/strong> partner and create Sebi-registered PPP innovation fund.<\/strong><\/p>\n

– bilaterally<\/strong> and multilaterally<\/strong> partner with international government and multilateral agencies respectively, for innovation and entrepreneurship development.<\/p>\n

It has pioneered in training and capacity building of incubation managers with exposure to global best practices.<\/p>\n

The TBIs were first to get support from multilateral international developmental agencies like UNDP, infoDev etc.<\/p>\n

Way Forward<\/strong><\/p>\n

India\u2019s vibrant and mutually supplementing start-ups ecosystem should be seen as a role model for the rest of the world. <\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Source: The post is based on an article \u201c70,000 Startups & The Helping Hand of Sarkar\u201d published in the Times of India on 12th July 2022. Syllabus: GS3 – Achievements of Indians in Science & Technology; Indigenization of Technology and Developing New Technology. Relevance: Start-ups Ecosystem in India News: In recent periods, the government has… Continue reading 70,000 Startups & The Helping Hand of Sarkar<\/span><\/a><\/p>\n","protected":false},"author":10328,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[216,10496],"class_list":["post-195286","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-gs-paper-3","tag-times-of-india","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704722863},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/195286","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10328"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=195286"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/195286\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=195286"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=195286"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=195286"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}