Last updated on July 4th, 2023 at 04:47 pm
Estimated reading time: 2 minutes
On 16th of January, Nitin Gadkari said that National Start-up Day will be celebrated on January 16, 2016, under the leadership of Prime Minister Narendra Modi with the objective of empowering the country’s entrepreneurs, building a strong startup ecosystem, and turning India into a nation of job creators.
Know About National Start-up Day:-
The Government of India has an initiative called Startup India. During his speech on 15 August 2015, Indian Prime Minister Narendra Modi announced the campaign.
This initiative’s action plan is focusing on three areas:
- Handholding and simplification.
- Incentives and funding support.
- Industry-Academia Partnership & Incubation.
The initiative also aims to get rid of restrictive State Government policies in this area, such as License Raj, Land Permissions, Foreign Investment Proposals, and Environmental Clearances. The Department for promotion of industry and internal trade (DPI&IT) organized it.
An entity is defined as a startup if it is headquartered in India, opened less than 10 years ago, and has an annual turnover of less than ₹100 crores (US$13 million). The government has already launched the I-MADE program, under this initiative, to help Indian entrepreneurs build 10 lakh (1 million) mobile app start-ups.
In addition, the MUDRA Bank’s scheme (Pradhan Mantri Mudra Yojana) is an initiative that aims to provide micro-finance, low-interest rate loans to entrepreneurs from low socioeconomic backgrounds. The initial capital of ₹20,000 crores (equivalent to ₹240 billion or US$3.0 billion in 2020).
“India will celebrate January 16 as ‘National Start-up Day’,” announced the Indian Prime Minister recently. On the eve of the first National startup day, 48 startups were awarded by the Hon’ble PM. This time, four startups from Pune, Maharashtra got the award.
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