Launch of Start-Up India Seven Years Ago Was A Big Step : PM

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PM launches Madhya Pradesh Startup Policy

The Prime Minister, Shri Narendra Modi launched the Madhya Pradesh Startup Policy during the Madhya Pradesh Startup Conclave being held in Indore on May 13 , via video conferencing. He also launched the Madhya Pradesh Startup portal, which will facilitate and help promote the startup ecosystem. He also interacted with the startup entrepreneurs.

Addressing the gathering, the Prime Minister said that the country’s development is getting new momentum by the young energy. There is a feeling, as there is a proactive startup policy, there is an equally diligent startup leadership in the country. The Prime Minister mentioned that in the short period of eight years, the startup story of the country has undergone a massive transformation. He recalled that in 2014 when his Government was formed, the number of startups in the country was about 300-400. Today, there are about 70,000 recognized startups. He said that every 7-8 days a new unicorn is made in this country.

The Prime Minister also noted the diversity of start-ups. He said about 50% of startups are from Tier II & Tier III cities and they cover many states and cities. They are associated with more than 50 industries. He said startups give solutions to real world problems. Today’s startups become future MNCs. He said the concept of startup was discussed among a few people 8 years ago and has now become a part of discussion among the common people. He said that this change is not fluke but is a result of a well thought out strategy.

He dwelled on the story of innovative solutions in India and lamented the lack of encouragement to the momentum of the IT revolution and failure of channelling the opportunity. Entire one decade went wasted in the scams and chaos of those times. He said that after 2014, the government restored faith in the innovation strength of the youth and created a conducive ecosystem. He informed about the three pronged approach to push the sector by creating a roadmap ranging from idea to innovation to industry. First part of this strategy, he said, was the notion of idea ,innovate, incubate and industry. Institutions related to these processes were created and strengthened. Second, easing of Government regulations. Thirdly, change in mindset for innovation by creating a new ecosystem. Keeping this in mind, steps like hackathons were taken. 15 lakh talented youngsters have been involved in this hackathon movement creating an ecosystem for startups.

The Prime Minister said that the launch of Start-Up India seven years ago was a big step in turning ideas into innovation and taking them to industry. One year later, the Atal Innovation Mission was launched with a set up of Atal Tinkering labs in schools and incubation centres in higher education institutions. More than 10 thousand schools have the tinkering labs and more than 75 lakh students are being exposed to the atmosphere of innovation. Similarly National Education Policy also promotes innovation. Private investment is increasing in the innovation sector.

Start-Ups giving a boost for Vocal for Local. Startups can also help Tribals to bring their handicrafts and products to the market. He said the Government is giving a big push for the gaming industry and toy industry. He also noted the potential in the frontier technologies for startups. He also informed that more than 800 Indian startups are involved in the sports sector.