Latest Policy for Entrepreneurship & Start Up Management
Download as PPTX, PDF0 likes76 views
The document outlines various recent government policies aimed at supporting startups in India, including funding initiatives like the Samridh program and Startup India Seed Fund Scheme, designed to provide financial assistance for various developmental stages. It highlights the Digital India Genesis initiative for deep-tech startups, the Drone Shakti program for agricultural applications, and the Design Clinic Scheme to enhance design capabilities in MSMEs. Additionally, it emphasizes the importance of focus and dedication to a single idea for entrepreneurial success, as noted by Prime Minister Narendra Modi.
Latest Policy for Entrepreneurship & Start Up Management
- 1. Unit 1- Part 4 Govt Policy
- 2. Latest policies of government: SAMRIDH • Funding support to 300 start-ups • MSH will take equity in start-ups
- 3. Multiplier Grant Scheme (MSG) • Initiated by the Department of Electronics and Information Technology (DeitY) • To empower collaborative research and development (R&D) • Rs 2 crore per project, less than two years. • This will go up to Rs 4 crore and include three years of industry association
- 4. NewGen IEDC • NewGen Innovation and Entrepreneurship Development Centre provides mentorship, support, and guidance.
- 5. Infrastructure Development Scheme • National Small Industries Corporation (NSIC) has launched this unique scheme to help startups establish their own offices and infrastructure.
- 6. • Take up one idea. Make that one idea your life, think of it, dream of it, live on that idea, let the brain, muscles, nerve, every part of your body be full of that idea and just leave every other idea alone. This is the way to success.” - Mr Narendra Modi, Prime Minister of India
- 7. Startup India Seed Fund Scheme (SISFS) • aims to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry and commercialization. • This would enable these startups to graduate to a level where they will be able to raise investments from angel investors or venture capitalists or seek loans from commercial banks or financial institutions.
- 8. Digital India GENESIS • Digital India GENESIS is another scheme that Modi launched on July 4, 2022. The "GENESIS" in the scheme implies "Gen-next Support for Innovative Startups". This is a government of India scheme that is launched to empower the national deep-tech startups. The total budget of this programme and the Digital India Bhashini is disclosed, which is around Rs 750 crore.
- 9. Drone Shakti • The government of India launched Drone Shakti, as voiced by the Union Finance Minister Nirmala Sitharaman on February 1, 2022. • It recently flagged off 100 Kisan Drones in diverse parts of the country to spray pesticides and more. • Government of India banned the import of drones with immediate effect.
- 10. Design Clinic Scheme for Design Expertise • MSMEs should develop a design-centric approach to fuel their startups, it aims to infuse design expertise in them. • Under this scheme, the government of India announced to extend around Rs 60,000 for attending design seminars and up to Rs 3.75 lakhs or 75% of the cost that would be needed in conducting the seminar, where the entrepreneurs and their teams can learn about design theories, interact with design veterans, build a network, and put them into practice.
Editor's Notes
- #5: This is a five-year programme that would be provided in educational institutions. The initiative aims to support up to 20 new projects. The selected institute will receive a financial grant of up to Rs 25 lakh and a recurring expenditure of up to Rs 10 lakh.Under this scheme, students will be encouraged to take up innovation projects with the possibility of commercialisation
- #8: On 16 January 2021, Prime Minister Narendra Modi announced the launch of the 'Startup India Seed Fund' — worth INR 1,000 crores — to help startups and support ideas from aspiring entrepreneurs. PM Modi said that the government is taking important measures to ensure that startups in India do not face any capital shortage. The reserved fund for the Startup India Seed Fund initiative, as per the Union Budget of 2022 is Rs 283.5 crore, which is higher than the revised estimate of around Rs 100 crore for the year 2021-22.
- #10: Furthermore, the finance minister also stated that the government would encourage the use of drones by farmers. Sitharaman focused on the farmers' use of these drones to survey the lands and spray insecticides along with digitising land records. Besides, the government also asserted to stand in full support of the drone technology startup in India In order to promote made-in-India drones, the This however exempts the import of drones for research and development, defence, and security purposes, as per the Ministry of Civil Aviation (MoCA).