Commerce and Industry Minister Smt. Nirmala Sitharaman has said that the role of Government is to enable and facilitate Start ups. Addressing the first Anniversary of Start Up India in New Delhi she said the approach is not to provide patronage but to constantly engage with start ups as a two way sharing of ideas. Smt. Sitharaman said Government’s role is primarily in tax related matters and legislations. The Minister  applauded the efforts of all the stakeholders. She thanked them for their support over the past year, while also encouraging all participants to work even harder for taking the Startup India initiative to greater heights.

The session was also addressed by the Secretary of DIPP, Mr. Ramesh Abhishek who provided a glimpse into the progress made under the Startup India initiative over its first year of launch. He mentioned that Startups are able to get information, updates, recognition and eligibility certificates online through the Startup India portal. He said the Government has taken many measures to reduce the compliance burden of Startups under various laws and has relaxed norms for public procurement and ensured fast tracking of the patent filing process.

 All stakeholders of the Startup ecosystem viz Startups, incubators and accelerators, venture capitalists and angel investors, industry associations, and corporates with active Startup programs participated in the event to exchange and suggest ideas on the way forward for the Startup India initiative.

 Government had launched the Startup India initiative on January 16, 2016 at Vigyan Bhavan, New Delhi.The Action Plan for Startup India was unveiled by the Prime Minister, Shri Narendra Modi , which lays down the roadmap for creation of a conducive ecosystem for the growth of Startups in India. 

 

MJPS

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