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Startup India Initiative and its Success - Coggle Diagram
Startup India Initiative and its Success
What is a Start up?
A/c to the Companies Act, 2013 OR LLP Act 2008 OR Partnership Act
Turnover has not exceeded one Rs.100 crore
A scalable business model with a high potential
Upto a period of ten years
A private limited company
Favorable Opportunities
Active Government Support
High Scope in Rural Areas eg Digital Tools
Favourable Demography and Youth Population
Increasing internet use
Growing Indian Economy
Success of the scheme
Diverse products category
40 attained the ‘unicorn’ status in the last twelve months, bringing the total as of date to 90.
India now ranks third among global startup eco-systems
India now has 65,000 startups registered
Associated Challenges
Issues of Funding
Regulatory bottlenecks and Compliance hurdles
Lack of Infrastructure
Complex Regulatory Environment
Financial scarcity
Limitations:
Concentration in megacities , Narrow Representation, Few Women in the industry
Startup India Initiative
Other initiatives:
Micro Units Development Refinance Agency (MUDRA)
ATAL Innovation Mission
It was organized by the Department for the promotion of industry and internal trade (DPI&IT).
2021: Startup India Seed Fund
Announced by PM Modi during his speech on 15 August 2015
Way Forward
Startups in High-end Technology
Promoting Agri-Startups
Bridging Digital Divide
Policy environment and EODB
Entrepreneurship throuh vocational education