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Boosting Startup Packages

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Description

The government of India launched a Startup India campaign to encourage entrepreneurship in India’s young generation who despite being skilled and able to launch their own ventures become dependent upon various types of jobs and remain underemployed.

Boosting Startup Packages Key facts

  • A startup is an entity that is headquartered in India which was opened less than seven years ago and has an annual turnover of fewer than ₹25 crores (US$3.9 million).
  • Ministry of HRD, Department of Science and Technology have partnered in an initiative to set up 75 Startup support hubs in the National Institutes of Technology (NITs), IITs, IISERs, and NIPERs.
  • The Reserve Bank of India has assured to take steps to help improve the ‘ease of doing business in the country and contribute to an ecosystem that is conducive for the growth of start-up businesses.

The startup is a great idea…needs encouragement
India’s demographic dividend is conducive to Boosting Startup Packages with high potential. India as the youngest nation in the world and a huge overall population has one of the largest consumer bases in the world. For every unique need of every segment of the population, there is an opportunity for a new venture. Our infrastructure, healthcare, education systems are in dire need of up-gradation where startups can make a huge difference.

The success of the Boosting Startup Packages India campaign
In the last 2-3 years, there has been increasing in startups in versatile areas like retail, food delivery, consulting, e-commerce, medical services, delivery services, fitness among others. On average 800 startups are born every year. Startups are evolving in terms of product capabilities, networking, taking calculated risks venturing into new spaces.

 

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Silver, Gold, Platinum

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