Start-Up India, 2016- A Review

by admin

img source: www.awesomeindia.in

I catch a metro everyday to reach my college and that day was just another day…I plugged in to my headphones listening to the song, “Socha Hai”- from the movie Rock On. The lyrical beauty of the song brings so many dispersing thoughts on a beat of drum and a rhythm. Like he mentions – “Badal neele kyon , Ped hogaye hain kum kyon……Socha Hai ”- A subtle pointer to the existing environmental problems, that need a solution…but we remain ignorant or try to neglect them. Unless we are a victim, we do not react! Umm, it sounds too much of a value education lecture but these proverbs and small moments in life have their own significance that could teach us a life changing lesson.

Another anecdote that reminds me of opportunities in life was while leading the contingency to IIT Bombay, E summit in the month of January.  There I got to know a lot about what is the stage for entrepreneurs in India. We were presented with huge amount of information that elevated us on subjects like technology, finance, innovation, talent, creativity in India and global level. The amazing fact about E summit was open to copious chances to listen from Kunal Shah, Ashish Hemrajani, Sachin Bansal and Rahul Yadav… apart from these chat sessions there were also a fair for students to seek internships and jobs at emerging and well to do enterprises. Finally the two day carnival had its closing seminar from Rana Kapoor, CEO Yes Bank where he clearly said, “For him entrepreneurship in India comes from the concept of DICE – Design Innovation Creativity and very spirit of Entrepreneurship that he will be promoting at his CEO level and also bring that culture through his children”—–Who says India doesn’t have scope?

But after returning from IIT Bombay, I was pondering over the opportunities that will be soon flooded in Indian Start-up ecosystem. This is what I came across while researching over the Internet.

After going through a lot of facts, stats in the newspaper about the start-up buzz, I personally an entrepreneur who is at a very nascent stage believe that the year of 2016 has brought revitalization into the start-up ecosystem. Some facts that throw light to the fortunes of 2016 are as follows:

A great kick-start to the year with the most awaited start-up stand-up India plan which has given a sunrise to the Indian start-up ecosystem.  Our honourable Prime Minister, Narendra Modi has created his objective as Start-up Stand-up India boosting the budding entrepreneurs, investors, venture capitalists. I remember few words from his speech addressing us, In the address during Start-up India launch, Modiji expressed, “Everyone has a idea, if Government stops working the youth has that potential to drive the nation, there are dreams deep embedded but due to risk and our insecurities we Inhibit ourselves”. He inspires that people who have started haven’t thought of bank balance but how are they imparting to society in a good way!….So what is required is a long term approach.

The start-up plan also brought a lot of conditions and policies that enhance and leverage the status of start-up hub in India.People believed that even though it is difficult to start a company in India, it is almost impossible to shut one down. However, he said, “an unencumbered easy exit option will be provided under the bankruptcy Act so that start-ups can exit within 90 days. The master of quotes as he is, Narendra Modi futher added, “Those who run from water will never learn to swim. You have to drown once to be able to learn to swim.” He also made the tax regime better in terms of profit and capital gains. Now the patent registration has become fluid & easy. It also allows self-compliance via mobile platforms. The plan also proposes investments in education, innovation centres, incubation centres and research &Infotech parks.  Isn’t it great!

Another event that catches my eye is Global Investor meet Karnataka in the early February of this leap year ( 2016) . Karnataka being the hub having a confluence of culture , technology and knowledge  sets an exemplar. The meet brought proposal of investor penetration into following sectors including : manufacturing , IT services, IT parks, Infrastructure, tourism, Agra infrastructure , technology clusters ,healthcare and education. It paved way for ease of conducting business via online portals and computerised planning implementation. The online portal provides all information with respect to setting up a business including policies, Whom to concern, entry modes and where to seek information. Every sector has also defined its policies uploaded on the portal of investor Karnataka to attract potential investors or foreign traders on board.

The Mid –  February  saw a carnival at Mumbai BKC—Make in India Week  which  created avenues for showcasing, connecting and collaborating for manufacturing in India. A platform where global CEOs, think tanks, policy makers, Diplomats and Political leaders converged. There were a lot of B2B and B2G deals that happened like Government of Jharkhand and Adani group and Vedanta limited. For youth and startups there was on spot 2 crore prize by Qualcomm , hackathon  for entrepreneurs to contest and even showcased stories of sculptors of India through their startups, products and platforms. The Australian government has given a nod for their co-operation and confidence for the same agenda.

The recent announcement of Budget brings a basket full of opportunities for entrepreneurs to grow, a ticket to tax holiday till March 2019 with a criterion of eligibility saying it should be innovative in its nature. The budget promises to elevate woman entrepreneurship by investing 500 crore for the same. It also brings a special patent regime. Though many our disappointed because the budget is not start-ups centric.

I personally believe that there are many opportunities only one has to realize sometimes it can be from one’s own learning curve for example  somewhere in Maharashtra there is no electricity , to drive a water pump a boy connected to batteries of his motor bike acting as a power source for the pump.  It is rightly said when it comes on you, you will realize. Rasi seeds since 1973, coming up with hybrid cotton, maize , vegetables —-so what is the requirement? People like Kiran Mujumdar Shaw, Biocon believes that India is a transforming economy  from agrarian to urban  hence it brings a load on farmers , leading to suicides , quality of food and health issues but bio manufacturing and high valued bio- services (like biometrics ) have made it so easy.  The current environment is so lucrative with development in communication and information system our age is the most informed one. So it’s the time to master around whether a process, product, management, channel. The world now calls for creativity that is human centred (figuring issues around us, just locate), capturing all human senses , multidisciplinary (involving from production to Launch and even extended to end receiver).

Be the next Marco Polo , Be the next  Albert Einstein, Be the next Larry Page …Be the next You. The time is yours, just use it as a powerful instrument and it will fetch fortunes to you.

Souce of review: Some of the facts have been adopted from leading newspapers like economictimes.com and news portals like firstpost.com

By

Gautam Chada

Author- SuccessYeti