Startup India is a flagship initiative of the Government of India, intended to build a strong eco-system for nurturing innovation and Startups in the country that will drive sustainable economic growth and generate large scale employment opportunities. The Government through this initiative aims to empower Startups to grow through innovation and design.
The action plan of Startup India is based on the following factors:
1. Simplification of Work
This initiative simplifies the work for the new entrants in order to motivate them. This includes following steps taken by the government:
Firstly, the government has set-up Startup India hubs where all the works related to incorporation, registration, grievance handling, etc.
Secondly, an application and an online portal is set-up by the government to facilitate registration from anywhere and anytime.
Thirdly, the patent acquisition and registration is now fast for the startups.
2. Finance Support
In order to motivate the startups, the government provides various financial supports.
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