Role of educational institutions in Start-up India Mission

Dreamers of today can do wonders tomorrow. And the critics of today will surely become his supporters tomorrow! These were the words of Prime Minister Narendra Modi while announcing the action plan of ‘Startup India, Standup India’. Earlier, on 69th Independence Day, Prime Minister Narendra Modi urged the nation to ‘Startup India, Standup India’ from Red Fort and after five months down the lane, that vision has traveled a long distance in terms of policies and has offered tremendous support to entrepreneurs throughout the country. On January 16, the much-awaited action plan of Startup India programme was launched in Vigyan Bhawan, New Delhi. The launch event was attended by CEOs and founders of top start-ups from across the country and abroad.

startup india standup india program
Prime Minister Narendra Modi launching the action plan of Startup India Standup India Program

The live event was telecasted in IITs, IIMs, NITs, IIITs and Central Universities and to youth groups in over 350 districts of India. During the event, interactive talk sessions with global leaders and venture capitalists such as Mr. Masayoshi Son (Founder and CEO, SoftBank) and Mr. Adam Nuemann (Founder, WeWork) were also conducted. Few months back, Karnataka took a serious step towards creating favorable environment for startups by setting up dedicated startup council.

Below are the key updates of the event:

The start up action plan will give inspiration and strength to the talented youth of India to so something for their motherland and for the sake of humanity. Do not think what your country can do for you, always think what you can do for your country.

In the initial phase, students will be shown innovation techniques in a start-up fest. Thereafter they will be provided with platforms to collaborate. The government has assured then that it will provide as much support as it can on their part.

Also read : Microsoft to offer free cloud services to Indian Startups

If India has millions of problems, it boasts of billion plus minds. Prime Minister mentioned,”For the country which has 800 million talented youth (less than 35 yrs) and tremendous opportunities,¬†nothing is impossible. In a country like India, there is no shortage of Jugaad, people run pumps with their motorcycles in areas without electricity.”

startup india mission launch event
Prime Minister Narendra Modi along with Finance Minister Arun Jaitley and other delegates during the launch event

Innovation focused program focused for students – Innovation core program shall be introduced to target school kids with an outreach to 10 lakh innovations from 5 lakh schools. A Grand Challenge Program will be introduced in which 20 student innovators from Innovation and Entrepreneurship Development Centres will be awarded Rs. 10 Lakhs. Along with that, in the newly launched Uchhattar Avishkar Yojana, Rs. 250 crore per annum has been used towards fostering ‘very high quality’ research amongst IIT students.

In the national institutes across the nation, 31 centres of innovation, 13 startup centres and 18 technology business incubators will be set up. The government has invested or will invest Rs. 100 crore each on the establishment of 7 new research parks – 6 in IITs, 1 in IISc. One such research park was launched by IIT Bombay in October last year

Further, PM Narendra Modi said, “Funding support of 40% (subject to a maximum of INR 10Cr) shall be provided by central government for the establishment of new incubators in existing institutions for which 40% funding by the respective state government and 20% funding by the private sector has been committed.”

Read here : Gujarat’s take on Startup India – Standup India Mission

He addressed to the nation that even if in your respective startup, you are giving job to 5 people, you are contributing to the growth of this country. The knowledge of the startups is not associated with money but with the inquisitiveness to solve problems and points which will help resolve the pain of hundred others.

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