+44-7897-074717A start-up is a business or enterprise founded by an entrepreneur to develop, refine, and validate a scalable business model. While entrepreneurship covers all newly established firms, including self-employment and businesses with no plans for growth, start-ups specifically aim to expand beyond sole founder ownership. Start-ups face significant risk and uncertainty initially, but a small percentage achieve notable success and impact.
Start-up India is the Indian government's primary initiative to nurture entrepreneurship and foster innovation. Launched on January 16, 2016, by Prime Minister Narendra Modi, this program supports start-ups through various measures, including bank financing. It aims to stimulate entrepreneurship, drive economic growth, and create employment opportunities across India, reaching Tier 1, 2, and 3 cities, as well as semi-urban and rural areas. The initiative also seeks to promote entrepreneurship among marginalized communities, including SC/ST and women.
Prime Minister Modi envisions India as a nation of entrepreneurs rather than job seekers. The Start-up India mission is to support individuals with innovative ideas and skills, aiding them in establishing and growing their businesses. This initiative is designed to contribute to India's prosperity and global influence by fostering the creation and improvement of products and services while simultaneously generating employment opportunities.
The research identifies essential criteria for eligibility, emphasizing the importance of innovation and technology-driven solutions. The paper concludes with recommendations for improving the accessibility and effectiveness of the Start-up India initiatives, suggesting that addressing these challenges is crucial for sustaining growth and maximizing the impact of start-ups on India's economy.
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