Startingyour own business is one of the few remaining paths to wealth. Everyone wantsto do something that gives them chance to earn more money and it is possible bybecoming an entrepreneur. Hundreds of thousands of people start their ownbusinesses every year, and untold more dream about the possibility of becomingtheir own bosses. While entrepreneurship has its many potential rewards, italso carries unique challenges. Entrepreneurship is one of the criticaldecisions to be made and it involves number of risk and has its own advantagesalso. But the charm of being a master of you is always above any other form ofwork. To start your own venture you have to decide on many things. Making achoice of the right project is a difficult decision for an entrepreneur and isan imperative decision. For the reason that rest of the challenges for settingup a business is based on the type of the product and fund to invest. It isnecessary for the entrepreneur to have qualities like ability to plan, maintaingood public relation, reasonable risk taking capacity and of course haveadequate financial resources.
Startup India
StartupIndia is a flagship initiative of the Government of India, intended to build astrong eco-system for nurturing innovation and Startups in the country thatwill drive sustainable economic growth and generate large scale employmentopportunities. The Government through this initiative aims to empower Startupsto grow through innovation and design. In order to meet the objectives of theinitiative, Government of India is announcing this Action Plan that addressesall aspects of the Startup ecosystem. With this Action Plan the Governmenthopes to accelerate spreading of the Startup movement:
•From digital/ technology sector to a wide array of sectors includingagriculture, manufacturing, social sector, healthcare, education, etc.; and
•From existing tier 1 cities to tier 2 and tier 3 citites including semi-urbanand rural areas.
Details
YoungIndians today have the conviction to venture out on their own and a conduciveecosystem lets them watch their ideas come to life. In today’s environment wehave more Startups and entrepreneurs than ever before and the movement is atthe cusp of a revolution. However, many Startups do not reach their fullpotential due to limited guidance and access. The Government of India has takenvarious measures to improve the ease of doing business and is also building anexciting and enabling environment for these Startups, with the launch of the“Startup India” movement. The “Startup India Hub” will be a key stakeholder inthis vibrant ecosystem and will:
•Work in a hub and spoke model and collaborate with Central & Stategovernments, Indian and foreign VCs, angel networks, banks, incubators, legalpartners, consultants, universities and R&D institutions
•Assist Startups through their lifecycle with specific focus on importantaspects like obtaining financing, feasibility testing, business structuringadvisory, and enhancement of marketing skills, technology commercialization andmanagement evaluation
• Organize mentorship programs incollaboration with government organizations, incubation centers, educationalinstitutions and private organizations who aspire to foster innovation. To allyoung Indians who have the courage to enter an environment of risk, the StartupIndia Hub will be their friend, mentor and guide to hold their hand and walkwith them through this journey.