SME Times News Bureau | 06 Jun, 2018
Minister Narendra Modi on Wednesday interacted with young innovators
and start-up entrepreneurs from across the country, through video
is the fourth interaction by the Prime Minister through video bridge
series with various beneficiaries of Government schemes.
at Indiaâs youngsters becoming job creators, Prime Minister said
that the Government is committed towards harnessing the demographic
further said that adequate capital, courage and connecting with
people are required for excelling in the start- up sector.
Prime Minister said that things have changed from the time where
start-ups meant only digital and technology innovation.
said that now there are start-up entrepreneurs in many fields.
Start-Ups are filed in 28 States, 6 Union Territories and 419
of these, 44% of start-ups registered are from Tier-2 and Tier-3
cities as Start-Up India is focussing on encouraging local
innovations from their areas. In addition, 45% of the start-up are
set up by women.
also explained how filing patents and trademarks have become easy
under the government.
has brought down the number of forms needed to apply for trademark
from seventy-four to eight, resulting in three-fold increase in Trade
Marks registration in three years. Number of patents registered has
also seen a three-fold increase compared to the previous government,
the interaction with young entrepreneurs, the Prime Minister said
that the government has created Rs.10000 Crore âFund of Fundsâ to
ensure that young entrepreneurs may not face shortage of funds for
their start-ups and to facilitate youngsters to innovate.
the âFund of Fundsâ, Rs.1285 Crore funding has been committed,
leveraging a total of Rs.6980 Crore in venture funds so far.
the steps taken by the government to make Indiaâs start-up
ecosystem robust, Prime Minister said that the Government-eâ Market
Place (GEM) has been linked to Start-Up India portal so that
start-ups can sell their products to government.
have been given income tax exemption for three years. Six labour laws
and three environmental laws have been changed so that young
entrepreneurs need to provide only self-certification, he
has also started a one-stop digital platform called Start-Up India
Hub where all information regarding start-ups and its ecosystem is
available for entrepreneurs.
with the participants, Modi said that in order to foster innovation
and competition amongst youngsters, Government has started various
competitions like Atal New India Challenge, Smart India Hackathon and
Agriculture Grand Challenge.
also mentioned his discussion with Prime Minister of Singapore, on
holding a Smart India Hackathon like challenge between innovators
from Singapore and India.
also reiterated the Governmentsâ commitment in encouraging
innovation in India.