The Prime Minister, Narendra Modi, today launched the Startup India initiative in New Delhi. The launch by the Prime Minister this evening, was preceded by a day-long workshop on various aspects of entrepreneurship. Modi during his speech said that successful startups are usually created by those who are driven by an idea, or an urge to solve a problem that people face. He said making money is not the primary objective, but is often a by-product. He announced number of policies for the startup community which have already received overwhelming response from the startup community.
We caught up with a number of people from the startup ecosystem – investors, startups, ecosystem enablers etc., here is a review of what they have to say about Modi’s Startup Action Plan.
Reactions From The Investors
Entrepreneurship evangelist and startup mentor Prajakt Raut stated , “ The startup plan was very sensibly thought of and measures on tax breaks are welcome. I think that the move to ease procurement norms for startups was a very smart one. However, I was disappointed that there were no measures to boost the angel investing ecosystem in India. While a lot was being talked about how to make individuals invest in startups, but there were no measures introduced in that regard in the plan.”
Tarun Davda, Managing Partner at Matrix Venture Partners tweeted his approval terming it as a watershed moment.
1. Watershed moment for Indian startups. Self compliance, 1 day company registration, fast track patent applications…#StartupIndia
— Tarun Davda (@tarun_davda) January 16, 2016