The government's action plan to encourage startups is now one year old, and has ticked the "raise awareness about entrepreneurship" box in a big, bold and grand way.
But it's time to move beyond publicity campaigns and take concrete steps to support startups.
Many entrepreneurs and investors who had great hopes that finally Indian startups would find their place on the world map, have now lowered their expectations.
Himanshu Batra returned to India in mid-2015 after eleven years in the US, eight of which were spent in Silicon Valley.
Himanshu is now founder and CEO of Acadview, a startup that provides online lectures and a digital repository for academic scores.
Prime Minister Narendra Modi appears to have a large fan following among non-resident Indians (NRIs) and many of them may be keen to start ventures in India.
Himanshu says he always wanted to come back to India and try out his business ideas.
"People living in other countries think that India is what the prime minister portrays when he goes abroad. But it's so much different here. I returned to India because I wanted to make an impact. I always had this sense of responsibility that I should do something for my country," he said.
Eight years of working at Google in California and knowing a good set of investors, Himanshu isn't even the average struggling entrepreneur.
"After working this long, I would say I have a comprehensive network of contacts with the state governments and ministries. And we are friendly, everyone is one phone call away. But when it comes to getting things done, you are not sure how much time it will take," he said.
Many budding entrepreneurs find it hard to overcome the legacy of inefficiency in the system and the corrupt power structures.
If Himanshu with his good networks can find it challenging, what hope does a novice entrepreneur with no contacts, no experience and no money have wading through the maze of policies, regulations and processing times?
But, it's not all gloom for entrepreneurs.
Sanjay Nath, cofounder and managing partner of the venture capital firm Blume Ventures said, “Today, the PM's startup initiatives have helped put Indian startups more firmly on the world map. Blume was amongst the first VC firms to receive support from SIDBI's India Aspiration Fund.” And it’s firms like Blume that in turn fund and nurture startups.
"Two points here: the government has definitely played a clear role as catalyst in getting more people interested in entrepreneurship. Another good thing is that the government actually acknowledges that they have more ground to cover in supporting startups," said Ronnie Screwvala, media mogul and veteran entrepreneur.
Said Himanshu, "The journey has been difficult. But even as I am speaking, I have hope that things will get better. To me the best thing the Startup India campaign did was give hope to people. It created a vibe of positivity and enthusiasm in the country, and the ministers I speak with lend a patient ear to an entrepreneur’s needs."
But from an entrepreneur's perspective, creating hope is not enough. It's going to take a bit more from the government.
Muses Himanshu, "Enough listening, it's time for action."
BW Reporters
Regina is a reporter for BW Businessworld. In her previous assignments, she has worked with Independent television Network as a news anchor and reporter in Sri Lanka
