Indian Start-up

Start up culture induced the innovative, fast-paced and industry-disrupting companies that have attracted some of the best talent around the world

With more than 3,000 tech start-ups, India is the fourth largest base for young businesses in the world and it is expected that by 2020 the base will increase to 11,500 tech start-ups.

This along with other interesting findings were revealed in ‘Tech Start-up in India: A Bright Future’ a study report by National Association of Software and Services Companies (NASSCOM) and Zinnov. The report suggests that the Indian start-ups with their unique solutions are witnessing increased traction in global whitespace opportunities such as Internet of Things, augmented realty, smart hardware, BI and many more.

In this week Start-up Summit, Prime Minister Modi Announces Rs. 10,000 Crore fund, Tax exemption for startups. PM mentioned the Government will set up 7 new Research Parks @ IIT/IISc, modelled based on IIT Madras.

https://www.youtube.com/watch?v=1DDqFOLvo-A

Speech Highlights are:

• Self-certification based compliance.
• No inspection for the first three years.
• A mobile app to start a startup in one day.The app will have a small application form that can be easily filled for your registration.
• Patents usually take months. We are bringing a scheme to make filing patents simpler.
• We are lacking in IP (intellectual property), but we have a lot of YP (youth property). We have to bring them on a single plane.
• There is no exit plan for startups. We are making faster exits for startups because failures shouldn't stop you forever. One who runs away from water cannot learn to swim by bringing a bill in Parliament to let startups can exit 90 days.
• When someone invests their own wealth, they will be exempted from capital gains tax. Three-year tax exemption for startups

More details are listed at https://www.indianstartups.com/

In my experience, building a strong internal team, culture and company brand program are key areas that companies have to focus on. Also, having leaders that are on board with these areas is crucial to success.

Start up culture growth @ India, is essential for the innovative & stronger economy around.