“Don’t worry about failure; you only have to be right once.” – Drew Houston
In 2015, Indian Prime Minister Mr. Narendra Modi had announced “Startup India, Stand Up” an incredible initiative to boost up startup in India. Now to promote a culture of startup, PM Modi government announced an incentive on 16 January 2016 including Rs 10,000-crore for innovation-driven enterprises. This is a 3 years break from income tax on profits and Rs. 500 crores per year credit guarantee and exemption from capital giant’s tax for startups.
“We have millions of problems, but we also have a billion minds. And these billion minds will easily find the solutions to the millions of problems,” – PM Modi
Have a look at brief summary about what has been announced at the Startup India event.
- Credit Guarantee Scheme: PM Modi announced that they will introduce credit guarantee scheme for startups in next 4 years, funds of around 500 crores will be given every year.
- No inspection: There would be no inspection for 3 years of startup in respect of labor.
- Atal Innovation Mission: PM Modi government are going to start “Atal Innovation mission” to give an impetus to innovation and encourage the talent among our Indians.
- The government will be rolling out a Mobile application on April 1 2016, especially for startup. PM Modi himself said that “Mobile App” is a best expedient solution to every problem. Even PM Modi has got a Mobile app called “Narendra Modi App”.
- One greater announcement from this plan is that start ups shall have 90 days open window to close their business if unfortunately they get fail in their endeavors to launch their new business concept. And Modi Government has formulated a plan to make the registration process for startups easy and hassle free.
- PM Modi Government plans to organize national and international fests to promote Indian startups.
Above policies indicating that Snapdeal, Flipkart and Paytm were just the beginning of eCommerce. The trump has begun now! More and More players will try their efforts to become a shining start in virtual world. However, it is not like licking a candy. To be a successful entrepreneur, two queries should be answered.
1. What is the destination?
2. How to reach there?
Thanks to Mr. Modi for first query, who showed a destination to young entrepreneurs. And for 2nd query, WeDigTech is there to assist young aspirants. WeDigTech acting as a supporting shoulder for those who have a fire within to be an entrepreneur. Right from the defining an idea to deploy the product.
Have an Idea, Energy and Enthusiasm? Share with us and let the world know who you are!!!