The Government of India had announced 'Startup India' initiative for creating a conductive environment for startups in India. The initiative was launched by the Prime Minister on January 16 2016, which is exactly a year back.
There are different components of the policy:
1)The Action Plan for startups which provides different institutional arrangements for support of startups. Procedure for obtaining startup license is elaborately mentioned.
3) The role of incubators, angel funds and venture capital funds are also illustrated under the Action Plan.
Startup America is a White House initiative that was launched to celebrate, inspire, and accelerate high-growth entrepreneurship throughout the nation.
In January 2011, President Obama called on both the federal government and the private sector to dramatically increase the prevalence and success of entrepreneurs across the country.
Since launch, the Obama Administration rolled out a set of entrepreneur-focused policy initiatives in five areas:
• Unlocking access to capital to fuel startup growth
• Connecting mentors and education to entrepreneurs
• Reducing barriers and making government work for entrepreneurs
• Accelerating innovation from “lab to market” for breakthrough technologies
• Unleashing market opportunities in industries like healthcare, clean energy, and education
The Small Business Administration (SBA) committed $2 billion as a match to private sector investment over the next five years in promising high-growth companies.
• $1 Billion Impact Investment Fund:
• $1 Billion Early-Stage Innovation Fund
The government has established several funds with its own money for extending financial support to start-ups called the fund of funds worth Rs. 10,000 cr.
According to the Start up India statistics:
1) 84 start ups benefitted in terms of patent filing and IPR protection with 80 per cent rebate given in filing.
2) According to reports, last month, Ramesh Abhishek, Secretary DIPP said Short-listing of first set of incubators in the 100 new incubators proposed had been done, he said these would be outcome based incubators.
3) He also said there had been progress on tinkering labs. “500 is the target, 50 are already approved,” he said pointing out that the government had earmarked ₹50 lakh over three years for same.