On its first anniversary, Startup India is still relevant but it isn't impactful. Let's compare the policy with the U.S. Startup America and see how far the government has to go.
The Government of India had announced 'Startup India' initiative for creating a conductive environment for startups in India. The initiative was launched by the Prime Minister on January 16 2016, which is exactly a year back.
There are different components of the policy:
1)The Action Plan for startups which provides different institutional arrangements for support of startups. Procedure for obtaining startup license is elaborately mentioned.
3) The role of incubators, angel funds and venture capital funds are also illustrated under the Action Plan
Startup America
Startup America is a White House initiative that was launched to celebrate, inspire, and accelerate high-growth entrepreneurship throughout the nation.
In January 2011, President Obama called on both the federal government and the private sector to dramatically increase the prevalence and success of entrepreneurs across the country.
Since launch, the Obama Administration rolled out a set of entrepreneur-focused policy initiatives in five areas:
• Unlocking access to capital to fuel startup growth
• Connecting mentors and education to entrepreneurs
• Reducing barriers and making government work for entrepreneurs
• Accelerating innovation from “lab to market” for breakthrough technologies
• Unleashing market opportunities in industries like healthcare, clean energy, and education.
For India:
The government has established several funds with its own money for extending financial support to start-ups called the fund of funds worth Rs. 10,000 cr.
For U.S.A.:
The Small Business Administration (SBA) committed $2 billion as a match to private sector investment over the next five years in promising high-growth companies.
• $1 Billion Impact Investment Fund:
• $1 Billion Early-Stage Innovation Fund
1. Launch
Startup IndiaThe Government of India had announced 'Startup India' initiative for creating a conductive environment for startups in India. The initiative was launched by the Prime Minister on January 16 2016, which is exactly a year back.
There are different components of the policy:
1)The Action Plan for startups which provides different institutional arrangements for support of startups. Procedure for obtaining startup license is elaborately mentioned.
3) The role of incubators, angel funds and venture capital funds are also illustrated under the Action Plan
Startup America
Startup America is a White House initiative that was launched to celebrate, inspire, and accelerate high-growth entrepreneurship throughout the nation.
In January 2011, President Obama called on both the federal government and the private sector to dramatically increase the prevalence and success of entrepreneurs across the country.
Since launch, the Obama Administration rolled out a set of entrepreneur-focused policy initiatives in five areas:
• Unlocking access to capital to fuel startup growth
• Connecting mentors and education to entrepreneurs
• Reducing barriers and making government work for entrepreneurs
• Accelerating innovation from “lab to market” for breakthrough technologies
• Unleashing market opportunities in industries like healthcare, clean energy, and education.
2. Funds
For India:
The government has established several funds with its own money for extending financial support to start-ups called the fund of funds worth Rs. 10,000 cr.
For U.S.A.:
The Small Business Administration (SBA) committed $2 billion as a match to private sector investment over the next five years in promising high-growth companies.
• $1 Billion Impact Investment Fund:
• $1 Billion Early-Stage Innovation Fund
3. Impact of Startup India
1) 84 start ups benefited in terms of patent filing and IPR protection with 80 per cent rebate given in filing.
2) According to reports, last month, Ramesh Abhishek, Secretary DIPP said Short-listing of first set of incubators in the 100 new incubators proposed had been done, he said these would be outcome based incubators.
3) He also said there had been progress on tinkering labs. “500 is the target, 50 are already approved,” he said pointing out that the government had earmarked ₹50 lakh over three years for same.
2) According to reports, last month, Ramesh Abhishek, Secretary DIPP said Short-listing of first set of incubators in the 100 new incubators proposed had been done, he said these would be outcome based incubators.
3) He also said there had been progress on tinkering labs. “500 is the target, 50 are already approved,” he said pointing out that the government had earmarked ₹50 lakh over three years for same.
4.Impact of Startup America.
According to the Kaufman Index of Startup activity:
1) Startup activity is on the rise
889,000 jobs created in the last quarter of 2015 alone; highest job creation number by new establishments since 2008.
2) Narrowing gender gap
Rate of new women entrepreneurs highest since 1996
From 0.22 in 2015 to 0.26 in 2015 for females
3) Racial Diversity
New entrepreneurs from different backgrounds e.g. Asian, Black, Latino, Native-American
1996: 23% compared to 2015: 40%
1) Startup activity is on the rise
889,000 jobs created in the last quarter of 2015 alone; highest job creation number by new establishments since 2008.
2) Narrowing gender gap
Rate of new women entrepreneurs highest since 1996
From 0.22 in 2015 to 0.26 in 2015 for females
3) Racial Diversity
New entrepreneurs from different backgrounds e.g. Asian, Black, Latino, Native-American
1996: 23% compared to 2015: 40%
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