Recognizing the critical role startups play in economic growth, job creation, and fostering innovation, the Government of India launched the Startup India initiative on January 16, 2016. This initiative was designed to create a robust ecosystem that nurtures innovation, encourages investments, and propels startups to be key contributors to India's socio-economic development.
The Startup India Action Plan, unveiled to ensure the initiative's success, encompasses 19 targeted action items. These span three core pillars: Simplification and Handholding, Funding Support and Incentives, and Industry-Academia Partnership and Incubation. By addressing challenges faced by startups and fostering collaboration across stakeholders, this comprehensive plan serves as a roadmap to transform India into a global startup hub.
TRANSFORMATIVE SCHEMES DRIVING INNOVATION
To support startups at various stages of their lifecycle, the government has introduced flagship schemes such as:
• Fund of Funds for Startups (FFS): This initiative ensures that startups have access to capital for growth and scaling.
• Startup India Seed Fund Scheme (SISFS): Targeting early-stage startups, this scheme provides crucial seed funding.
• Credit Guarantee Scheme for Startups (CGSS): It offers financial security and helps startups secure credit.
Complementing these financial measures are initiatives like the States' Startup Ranking, National Startup Awards, and Innovation Week, which collectively aim to build a vibrant and inclusive startup ecosystem.
Furthermore, platforms like the Startup India Hub portal and Bharat Startup Knowledge Access Registry (BHASKAR) have digitized resources and fostered collaborations across stakeholders. These efforts ensure that the ecosystem benefits reach tier-2 and tier-3 cities, encouraging inclusive growth.
Empowering India's Workforce and Economy
This story is from the January 09, 2025 edition of The Daily Guardian.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the January 09, 2025 edition of The Daily Guardian.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
SUZUKI V-STROM 800 DE REVIEW | THE ABSOLUTE BEST BUY IN THE SEGMENT
It’s a BIG motorcycle, ladies and gentlemen, but, somehow, it doesn’t come across as intimidating. On the contrary, it has a friendly demeanour, which is something you can’t say about most adventure motorcycles nowadays.
WFI questions Khel Ratna'selection process'
As Olympic double medalist shooter Manu Bhaker is set to be conferred with the prestigious Khel Ratna Award, the highest sporting honour in India, the announcement has sparked a debate on the transparency of the selection process, with Wrestling Federation of India (WFI) President Sanjay Singh raising concerns about ‘favouritism’ in the award nominations.
Prannoy makes triumphant return
Indian tennis star HS Prannoy made a triumphant return to the badminton court as he kickstarted the year with a win in his opening match at the Malaysian Open 2025 being held in Kuala Lumpur on Wednesday.
BJP slams Bharadwaj, Sanjay Singh for 'forcing entry' to CM's residence
AAP leaders’ attempt to take a media tour to former chief minister Arvind Kejriwal’s residence here in a bid to counter “Sheesh Mahal” jibes has earned the BJP’s wrath which said Sanjay Singh and Saurabh Bharadwaj trying to “forcibly” enter the premises was an example of “irresponsible, insane and anarchic behaviour”.
Z-Morh Tunnel in J&K set to open on January 13
Prime Minister Narendra Modi is set to visit Jammu and Kashmir on January 13 to inaugurate the much-anticipated ZMorh Tunnel on the Srinagar-Sonamarg road.
Digital Privacy Gets Legal Boost
India's Digital Personal Data Protection Act (2023) balances privacy with business needs, creating new roles like Consent Managers to empower users.
Prannoy makes triumphant return
Ace Indian shuttler and Paris Olympics 2024 semi-finalist Lakshya Sen lost his Malaysia Open 2025 badminton tournament clash against Chinese Taipei's Chi Yu-Jen in straight games at the Stadium Axiata Arena in Kuala Lumpur, Malaysia on Tuesday.
WFI Questions Khel Ratna's Selection Process
As Olympic double medalist shooter Manu Bhaker is set to be conferred with the prestigious Khel Ratna Award, the highest sporting honour in India, the announcement has sparked a debate on the transparency of the selection process, with Wrestling Federation of India (WFI) President Sanjay Singh raising concerns about 'favouritism' in the award nominations.
Selective norms undermine sports governance: PT Usha
In a strongly-worded letter, Indian Olympic Association (IOA) president PT Usha has accused the sports ministry of interfering in the affairs of national federations and thus \"undermining the credibility of sports governance\", citing multiple examples, including the contentious Indian Golf Union elections, to support her claims.
Namhail Records Fastest Goal in Ice Hockey League
Namhail Nangmo created history today by scoring the fastest goal ever recorded in the Ice Hockey League, setting a new benchmark in the sport.
