StartupWorld Of 2030: Govt Plans To Bolster Budding Entrepreneurs
For every unique need of every segment in India has probably multiple startups working to innovate and resolve them. India is becoming the global innovation hub, boasting the world’s third-largest startup ecosystem of the world. Recognising the ability to build at scale, Delhi’s Chief Minister Arvind Kejriwal launches a ‘Startup Policy’ that entails the major aim of facilitating and encouraging entrepreneurship. Moreover, the Delhi government would support college students working on business ideas in every possible way.
Fostering Young Minds
India as the youngest nation in the world has the largest consumer base leading to the high potential for a rise in the number of startups igniting from disrupting minds.
"It's definitely a step in the right direction. I am very happy that the government has taken this initiative to support my fellow founders across the national capital. While all the measures sound amazing, it will be interesting to see how it looks when the policy white paper is released,” Akshay Chaturvedi, Founder and CEO, Leverage Edu mentions while reacting to the latest announcements by the government.” He added that I believe the community will get the most out of the policy if it focuses on particular pain points around statutory documentation and provides reasonable relief on taxes.
This policy, being introduced in the capital will foster a plethora of growth opportunities for the startups in the state and help transform Delhi into the next ‘Start-up Hub of India’.
"As Delhi has always been a priority market for Porter, introduction of such a policy in the state will intensify the growth opportunities for us. As a logistics company, the adoption of EVs is our primary focus, especially in Delhi. This policy will also facilitate more investments in the EV sector thereby contributing significantly to the development of sustainable mobility in the country," Uttam Digga, Co-Founder, Porter states.
Reinforcing the ecosystem
By creating an enabling ecosystem for an innovation-based economy and fostering entrepreneurial spirit through a robust support mechanism, the vision is to enable Delhi to emerge as the most preferred destination for start-ups by 2030 as said by the Delhi CM.
Pranav Bajaj, Co-founder, Medulance expresses and says, “It’s a splendid initiative by the government. It's all about a push to start and as most of the time young entrepreneurs do not have the proper guidance be it financial, legal or operational, they do not start in spite of having a great idea.”
“Students building startups while studying in Delhi government colleges will be able to seek 1-2 years of leave. A robust task force will oversee the registration of startups under the policy. I hope that Delhi will be the home of unicorns and behemoth businesses that the world will look up to,” the Chief Minister said.
Three committees will be set up for the implementation and governance of the policy: the Startup Policy Monitoring Committee, a Startup Task Force, and a Nodal Agency.
“A Startup Policy Monitoring Committee will be formed to oversee the Delhi Startup Policy. It will be headed by the Finance Minister of the Delhi Government. It will consist of the Industries Minister of Delhi Government and senior representatives of other state departments as members.
Existing startup leaders are open-heartedly welcoming the policy and are optimistic to witness the robust growth of enterprises. The given strategies will give a lot of confidence to first-generation entrepreneurs. It will lead to create 10 times more startups than we see today and the government has cleared a very big roadblock for budding entrepreneurs.
