India is buzzing with entrepreneurial activity like never before and the government is committed to “Making Entrepreneurial India” Since the Launch of Start-up India Initiative to foster innovation, creates jobs and facilitates Investment in Jan 2016, considerable progress has been made. The GOI believes that involvement of the State Governments with other Stakeholders is crucial to achieving the envisioned goals of the “Startup India”.

 

India is the World’s Youngest Startup nation with 72% Founders less than 35 years and it is on the Right path to becoming the World’s Best Startup Ecosystem. There are 4400 tech start-ups today and this number is expected to reach 12000 by 2020. Government is committed to make this initiative a scalable reality and pointed out reforms to provide an environment to all Startups to thrive and also the instances when the government acted on the feedback received from the ecosystem to balance the reforms with accountability. More than 250 Incubators have already been recognized by DIPP, 7 Proposals for Research Parks, 16 Proposals for TBIs and 13 Proposals for Startup Centers have been recommended by NERD formed by MHRD. Startups need to only focus on their ideas and not worry about compliances under various acts because almost all recognition is automatic including recognition for Tax Sops.