DIPP to engage consultant for launch of 'Start-up India' initiative
Updated: Oct 30, 2015 11:37:08am
New Delhi, Oct 30 (KNN) Department of Industrial Policy and Promotion (DIPP) has recently floated ‘Request for Proposal’ (RFP) from reputed Consulting firms to provide support in understanding the start-up eco-system, evaluation of Central and State policies and recommendations for enabling regulatory environment for start-up growth.
Government of India intends to launch ‘Start-up India’ initiative to create a strong ecosystem for ‘fostering’ innovation and start-ups in the country. This will require an environment which will enable individuals and smaller companies, including start-ups and SMEs to grow through innovation and design.
With world’s second largest population of Scientists and Technologists, India should naturally be a hot spot for spawning of start-ups, but according to experts, the archaic business laws of India along with poor infrastructure, so far prevented growth of start-ups in India.
With the focus of the present Government to make India a hub of innovative activities, the initiative of DIPP is significant.
According to reports, Government has held a series of meetings with the experts on start-up promotion; the Angel Investors who take the high risk of funding the ‘out of box’ innovative business models and the Private Equity funds that assist these start-ups to scale up. The present initiative may be an outcome of the deliberations.
As per the RFP, besides recommending for enabling regulatory environment for start-ups, the agency will also be responsible for implementation of these recommendations.
However, a big question mark remains. With most of the regulatory system remaining with the State Government, how much of the central government’s initiatives will bear fruit.
According to a recently published survey of DIPP, large majority of the state achieved a rating below 50 in a scale of 100, in ‘Easing’ Doing Business in the respective state. The silver lining is in its recent report on ‘Ease of Doing Business’ in which the World Bank has up scaled India in its global rating and appreciated the initiatives of the Modi Government in this regard. (KNN Bureau)
Government of India intends to launch ‘Start-up India’ initiative to create a strong ecosystem for ‘fostering’ innovation and start-ups in the country. This will require an environment which will enable individuals and smaller companies, including start-ups and SMEs to grow through innovation and design.
With world’s second largest population of Scientists and Technologists, India should naturally be a hot spot for spawning of start-ups, but according to experts, the archaic business laws of India along with poor infrastructure, so far prevented growth of start-ups in India.
With the focus of the present Government to make India a hub of innovative activities, the initiative of DIPP is significant.
According to reports, Government has held a series of meetings with the experts on start-up promotion; the Angel Investors who take the high risk of funding the ‘out of box’ innovative business models and the Private Equity funds that assist these start-ups to scale up. The present initiative may be an outcome of the deliberations.
As per the RFP, besides recommending for enabling regulatory environment for start-ups, the agency will also be responsible for implementation of these recommendations.
However, a big question mark remains. With most of the regulatory system remaining with the State Government, how much of the central government’s initiatives will bear fruit.
According to a recently published survey of DIPP, large majority of the state achieved a rating below 50 in a scale of 100, in ‘Easing’ Doing Business in the respective state. The silver lining is in its recent report on ‘Ease of Doing Business’ in which the World Bank has up scaled India in its global rating and appreciated the initiatives of the Modi Government in this regard. (KNN Bureau)
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