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funding opportunities and partnerships, this initiative is expected to give a rise to
entrepreneurship in India.
The present scenario
As per the state initiative, the Kerala IT mission has been started. This scheme
focused in achieving $50million for state startup investment. The first project under
this scheme was first telecom incubator startup village that was launched in 2012.
Also, states like Telangana, Andhra Pradesh Madhya Pradesh, Rajasthan Odhisha
and Bhubaneswar are also benefited under this scheme. Different startup schemes
have started in all these states to raise funds of $15million to $30million for startups.
This scheme also focuses on industry – academia partnership. Under this scheme,
the union ministry of HRD has launched a plan of developing research parks
throughout India. The parks are created in partnership with different educational
institutes. The primary investment amount for this scheme is 100 crore. Under this
scheme, the entrepreneurs would get facilitated with funds as well as with initial
motivation and support.
In 2016, the program named I-MADE was launched in which, the department of
telecommunications in India, telecom centre of excellence, unified and EVC ventures
helped entrepreneurs to launch their mobile applications.
Quick facts about Start up India
• The startup India offers 10,000 crore funding pool.
• This initiative will promote and globalize India as a startup hub.
• This initiative is aimed to improve entrepreneurship and innovation in the
country itself.
• This scheme also includes the plan for providing IPR protection to the
startup organizations.
• The aim of this initiative is not only to promote India as a startup centre but
also to make India the focal point of innovative industries.
• One of the promising benefits of this scheme is to reduce patent fee for
founders and startups.
• It also provides tax freedom for the first 3 years.
• The initiative also aims to target 500k educational institutes and around
1million students for this initiative.
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