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Government Support for Entrepreneurship Development

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Government Support for Entrepreneurship Development Government Support for Entrepreneurship Development • Initiatives for Start-up India • Stand up India and Skill India • Government of Gujarat schemes for Start-up • Start-up and ecosystem • Stand-up India: Women and Minority Entrepreneurship • Ease of Doing Business (EoDB) – Overview, Ranking, – Determinants of EoDB Government of India Support for Innovation and Entrepreneurship in India • The Government of India has undertaken several initiatives and instituted policy measures to foster a culture of innovation and entrepreneurship in the country. • In the recent years, a wide spectrum of new programmes and opportunities to nurture innovation have been created by the Government of India across a number of sectors. • From engaging with academia, industry, investors, small and big entrepreneurs, non-governmental organizations to the most underserved sections of society. Government of India Support for Innovation and Entrepreneurship in India • Recognising the importance of women entrepreneurship and economic participation in enabling the country’s growth and prosperity, Government of India has ensured that all policy initiatives are geared towards enabling equal opportunity for women. • The government seeks to bring women to the forefront of India’s entrepreneurial ecosystem by providing access to loans, networks, markets and trainings. Efforts at promoting entrepreneurship and innovation 1. Startup India 2. Make in India 3. Atal Innovation Mission (AIM) 4. Support to Training and Employment Programme for Women (STEP) 5. Jan Dhan- Aadhaar- Mobile (JAM) 6. DigitalIndia 7. Biotechnology Industry Research Assistance Council (BIRAC) 8. Department of Science and Technology (DST) 9. Stand-Up India 10. Trade related Entrepreneurship Assistance and Development (TREAD) 11. Pradhan Mantri Kaushal Vikas Yojana (PMKVY) 12. National Skill Development Mission 13. Science for Equity Empowerment and Development (SEED) Start Up India • Through the Startup India initiative, Government of India promotes entrepreneurship by mentoring, nurturing and facilitating startups throughout their life cycle. • Since its launch in January 2016, the initiative has successfully given a head start to numerous aspiring entrepreneurs. • With a 360 degree approach to enable startups, the initiative provides a comprehensive four-week free online learning program, has set up research parks, incubators and startup centres across the country by creating a strong network of academia and industry bodies. • More importantly, a ‘Fund of Funds’ has been created to help startups gain access to funding. • At the core of the initiative is the effort to build an ecosystem in which startups can innovate and excel without any barriers, through such mechanisms as online recognition of startups, Startup India Learning Programme, Facilitated Patent filing, Easy Compliance Norms, Relaxed Procurement Norms, incubator support, innovation focused programmes for students, funding support, tax benefits and addressing of regulatory issues. • https://www.startupindia.gov.in/content/sih/en/home-page.html Stand – Up India • Launched in 2015, Stand-Up India seeks to leverage institutional credit for the benefit of India’s underprivileged. • It aims to enable economic participation of, and share the benefits of India’s growth, among women entrepreneurs, Scheduled Castes and Scheduled Tribes. • Towards this end, at least one women and one individual from the SC or ST communities are granted loans between Rs.1 million to Rs.10 million to set up greenfield enterprises in manufacturing, services or the trading sector. • The Stand-Up India portal also acts as a digital platform for small entrepreneurs and provides information on financing and credit guarantee. • https://www.standupmitra.in/Home/AboutUs Introduction Skill India is an initiative of the Government of India It was launched by Prime Minister Narendra Modi on 15th July 2015 with an aim to train over 40 crore people in India in different skills by 2022. The initiatives include National Skill Development Mission, National Policy for Skill Development and Entrepreneurship 2015, Pradhan Mantri Kaushal Vikas Yojana (PMKVY) scheme and the Skill Loan scheme. Skill India won’t be just a programme but a movement. Here, youth who are jobless, college and schools dropouts, along with the educated ones, from rural and urban areas, all will be given value addition. Departments The National Skill National Skill Development Corporation Development Corporation India (NSDC) was setup as a one of its National Skill Development Agency (NSDA) kind, Public Private Partnership Company with the primary National Skill Development Fund mandate of catalysing the skills landscape in India. Departments The National Skill Development Agency, an autonomous body, was National Skill Development Corporation created with the mandate to co-ordinate and harmonise the skill National Skill Development Agency (NSDA) development activities in the country, is part of the Ministry of Skill National Skill Development Fund Development & Entrepreneurship (MSDE). Departments The National Skill National Skill Development Corporation Development Fund was set up in 2009 by the Government of India for National Skill Development Agency (NSDA) raising funds both from Government and Non- Government sectors for National Skill Development Fund skill development in the country. Government of Gujarat schemes for Start-up Policy Name Electronics & IT/ITeS Start-up Policy (2016-21) Website http://www.startupgujarat.in/index.htm Nodal Agency Industries Commissionerate, Government of Gujarat Under this scheme, any individual/ group of individuals having innovative idea/ Concept will be eligible and/ or Universities/ education institutions, Incubation Centre/ PSUs/ R&D Institutions/ Private and other establishments will be eligible as an institution to support and mentor to innovators as approved by Committee. Startups in an economy's technology sectors is an important indicator of technological performance for several reasons. Indian Startup Ecosystem - Facts • India has the 2rd largest startup ecosystem in the world; expected to witness YoY growth of 10-12% • ~20,000 startups in India; around 4,750 of these are technology led startups • 1,400 new tech startups were born in 2016 alone; implying there are 3-4 tech startups born every day Growth Drivers for Startup India • As per a survey report by Innoven Capital (survey of 140 founders); leading factors that make India appealing as a startup nation are- – Cost of doing business – Proximity to customers/vendors – Size of domestic market • 7 million college graduates per year; 55% of the youth prefer working in startups over corporates (as per a youth of the nation survey of 150K young Indians). Median age of founders: 31 years • Second largest consumer internet market in the world (overtaking China) with 462 mn internet users, 80% of these users are mobile based Sector & Location Trends • While eCommerce and Aggregators have become mature; Fintech, Edutech and Healthtech are emerging verticals • Bangalore, Mumbai and NCR top startup destinations with over 65% of the total Indian startups. • Bangalore has also been listed within the world’s 20 leading startup cities in the 2015 Startup Genome Project ranking. It is also ranked as one of the world’ s five fastest growing startup cities Enablers of Startup Ecosystem Enablers of Startup Ecosystem • Infrastructure – 280+ Incubators/Accelerators /Co-Working Space with 40% YoY growth – Tier 2/tier 3 cities are gaining traction, with 66% new incubators established • Funding – $4 bn poured into 1040 deals in 2016 – 55% decrease in deal value, volume increase by 3% from 2015 – On an average, four startup deals were announced every weekday throughout 2016 – Angel investments are on the rise, with a 20% increase in the active investors – Global investor such as Alibaba Group, Soft bank, Sequoia and Foxconn have started to invest in the Indian startup ecosystem • Corporate Connect - Enterprises are realizing the disruptive potential of start-ups and are thus, partnering/investing in them. As per KPMG 2016 CEO Survey; 37% of CEOs surveyed deem their organisations to be highly capable of connecting in a beneficial way with start-ups. Examples of corporate support: – Wipro has setup a $100mn fund to invest in startups – IBM is partnering with 100 Indian big data and IoT start-ups, – Apple recently acquired Tuplejump - an AI based startup from Hyderabad Startup Gujarat - Ecosystem • About Scheme • How it Works • Incubators • Mentors • Innovators • Entrepreneurship Cell Startup Gujarat Ecosystem How it works Incubators List of Incubators • Aashray - Promotion of Social Enterprises Foundation (Aashray Incubator) • Anand Agricultural University • C. U. Shah University • Centre for Innovation Incubation and Entrepreneurship(CIIE), (IIM) • COGNIAN • Dharmsinh Desai University (DDU) • Dhirubhai Ambani Institute of Information and Communication Technology (DAIICT) • Entrepreneurship Development Institute of India(EDI) • Ganpat University • GIAN • GNLU Legal Incubation Center (GLIC) • Gujarat State Biotechnology Mission(GSBTM-SavliBioIncubator) • Gujarat Technological University • And Many More… Support to Training and Employment Programme for Women (STEP) • STEP was launched by the Government of India’s Ministry of Women and Child Development to train women with no access to formal skill training facilities, especially in rural India. The Ministry of Skill Development & Entrepreneurship and NITI Aayog recently
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