Page 34 - August-2020-Issue

ARTICLE

Working of Startups in

India: Need to Review

Pramod Kr. Sinha

omentum of startups Stakeholders, numbers are not calls for high degree of efficiency
was peaking up in 2014 very high. amongst the implementers & key
Mwhen the country could Stakeholders engaged in devel-
see Startup Wave with million dol- When Prime Minister, Narendra opment processes and strength-
lar ideas & innovative solutions to Modi conveys, 'We look forward ening Startup Mission.
many problems. Recognizing the to making India a $10-trillion Some of the key programs, fund-
importance of Startups in build- economy. We look forward to ing agencies helping the Start-ups
ing Indian Economy, the Hon’ble making India the third-largest and SMEs at different stage of
Prime Minister launched Startup economy. We want to make India their life cycle are:-
India Scheme in 2016 to promote a place for start-ups. We want to
the Startups of the nation. give our people energy security. • Scheme for Promoting
We want to reduce our import Innovation, Rural Industry &
Startup India is a flagship initia- dependence. We want to make Entrepreneurship (ASPIRE),
tive of the Government of India, India the world leader in electric
intended to catalyze startup cul- vehicles and energy storage de- • ‘Fund of Funds’
ture and build a strong, inclusive vices'- Economic Times Global • Micro Units Development
ecosystem for innovation and en- Business Summit 2019. It infus- Refinance Agency (MUDRA)
trepreneurship and transforming es confidence to all and gives a Bank
India into a country of job creators challenge to see that such aspi- • Prime Minister's Employment
instead of job seekers. For provid- rations are transformed into ac- Generation Programme
ing fund support to Startups, the tionable deliveries by respective (PMEGP),
Government has created a ‘Fund Nodal Agencies and each and
of Funds for Startups’ (FFS) at every Stakeholder involved and • Credit Guarantee Fund
Small Industries Development engaged. Scheme for Micro and Small
Bank of India (SIDBI) with a cor- Successive annual budgets & an- Enterprises (CGS)
pus of INR 10,000 Crore. • Ministry of Skill
nouncements have kept Startups
While government has been en- and MSMEs in priority areas. The Development and
deavoring to support Startups recent announcement of 20 Lac Entrepreneurship
by creating avenues of funding Crore economic bonanzas further • Atal Innovation Mission
and other supports, nevertheless substantiates the intention of the
Startups in India are yet to suc- government amidst COVID crisis. • Electronic Government to
ceed with pace, presence and in The diverse ecosystem responds Business (G2B) Portal, eBiz
numbers it was expected. There dynamically to the vicissitudes Portal
are success stories delighting the faced by the Indian markets and • Dairy Processing and

Management Expert & Social Development Volunteer Formerly served PSU, DPE, GoI & 100 Fortune Company and
Presently with SCOPE

34 KaleidOscope May, 2020