#StartupIndia: Startups and investors are smiling their way out of Vigyan Bhawan!

It isn’t only startups who are leaving Vigyan Bhawan with happy faces. Startup investors which include angel investors, venture capitalists have a wide smile on their faces. After all, PM Modi’s Startup India, Standup India summit turned out to be a roaring success.

“It’s a balanced approach. Not only looking at startups but also other stakeholders such as investors,” says Anil Joshi, managing partner, Unicorn India Ventures.

He added that from an investor’s point of view, the fact that winding up of a startup could be done within 90 days is the cherry on the cake. “The USP of this event was the fact that as an investor, if a company is doing well, it’s a good news but if it doesn’t then, winding up becomes a tedious process. So, the fat that the government will now facilitate winding up within 90 days is a great news.”

Apart from this, exempting Startups from Capital Gain Tax is a huge step towards boosting the ecosystem. As far as the startup corpus is concerned, this would require a detailed action plan. We are sure, as we progress, the government will sort out all of these.

Sharing a similar sentiment, angel investor Manish Vij, founder and CEO of SVG Media notes that for the first time a government has extended such extensive support to the entrepreneurs. “This event had brought India to the center stage of global startup ecosystem. The government's action plan will inculcate the desire to become entrepreneurs among our youth throughout the nation. The start action plan addresses a lot of pain points of entrepreneurs and really thank the government for the same,” he says.

However, on being questioned on no clarity with regards to disbursal of startup corpus, he says, “Sure there is no clarity at this stage as the PM only briefly mentioned about fund of funds, however we should look at the positive intent. Of course we do hope that the action plan is implemented.

Well, here’s hoping all the success to our dear startupreneurs!

Image credit: Indiatimes