January 16 will be designated as National Startup Day: Prime Minister Narendra Modi.
2022 is National Startup Day. “The year 2022 has opened up new possibilities for India’s startup ecosystem. Startups will play a vital role in India’s 100th-anniversary celebrations”, Prime Minister Narendra Modi stated.
Because startups are beneficial to the country’s economy, the government implements several measures each year to assist startups in growing through producing cash. Startups are the backbone of the nation’s economy, seeking to build and validate business models. Prime Minister Narendra Modi has announced January 16 as National Startup Day.
History of National Startup Day 2022:
Several video conferences have been held with startups for the past few years. As a result, India has spawned 42 unicorns, with many budding in Tier-II and Tier-III towns where people are turning their ideas into business models, as it did last year. India will improve its global ranking in the Global Innovation Index due to its progress in this industry.
The Importance of National Startup Day in 2022:
Startups play a crucial role in providing new chances and horizons for India’s ecosystems. They can make a big difference in a lot of semi-urban and rural areas by launching new initiatives to boost the local economy and create jobs. The creativity, entrepreneurship, and ecosystems in our country have benefited from technological advancements.
The culture in India is rising by the day, as an increasing number of people are opting to become self-sufficient. On Saturday, Prime Minister Narendra Modi addressed all the companies and youth working to promote the economy in India.
“The year 2022 has introduced new vistas for the Indian ecosystem,” PM Modi said, addressing over 150 startups from various sectors around the country. “When India completes 100 years of independence, startups will play a big role.”
The Prime Minister announced January 16 as National Start-up Day to honour the “backbone” of the new India, which he termed as startups. The PM applauded their efforts in converting their ideas into businesses and spreading to at least 625 districts across India during the videoconference session, which boosted the spirits of members of the industry.
“At least one startup may be found in each of India’s 625 districts.” Nearly half of all startups in India are located in Tier-II or Tier-III cities. It shows that people of all socioeconomic strata are turning their ideas into businesses,” he continued.
“India produced 42 unicorns last year!” the PM remarked, expressing his strong belief in the Indian startup ecosystem’s bright future. The golden age of startups, in my opinion, is just getting started. India’s present innovation effort has resulted in a major improvement in the country’s Global Innovation Index ranking. India was ranked 81st in this ranking in 2015. India is now ranked 46th in Index.”
Many founders across the country greeted the declaration of “National Start-up Day” with enthusiasm. “Getting such positive news ahead of the budget gives all entrepreneurs hope and a much-needed lift,” said Pulkit Agrawal, co-founder and CEO of Trell. This campaign will raise awareness of the startup ecosystem and job creation and speed up assistance for the country’s entrepreneurial community.”
In particular, startups in India raised $42 billion in 2021, increasing $11.5 billion over the last year. “When India commemorates its 100th anniversary of freedom,” the Prime Minister said in his speech, “startups will play a big role.” He argued that startups are changing the game and will soon become India’s backbone.
The Prime Minister has invited all entrepreneurs to seek semi-urban and rural areas to begin new ventures and contribute to the development of rural India. This will help the country reach its full potential.
“This decade is being called the ‘techade’ of India…to improve the innovation, entrepreneurship, and startup ecosystem have features like liberating innovation from government processes, bureaucratic silos,” the PM continued in a tweet published by ANI.
Earlier in 2020, the central government reaffirmed its commitment to establishing an independent India by emphasising the importance of ‘Aatmanirbhar Bharat.’
PM Modi made the statement while meeting with many entrepreneurs as part of the Startup India Innovation Week.
In tier 2 and tier 3 cities, startups are on the rise:
“Whereas before 2014, only massive enterprises in metros thrived, today there is at least one startup in each of the country’s 625 districts,” Prime Minister Narendra Modi remarked.
“Half of them are in tier 2 and tier 3 cities, where youngsters from low-income households are working on startups,” he said.
“As a result, thousands of people are finding work, as evidenced by the speed and scale with which startups expanded in India even during the worldwide epidemic,” Prime Minister Narendra Modi remarked.
‘The government wants to provide possibilities for innovation,’ says Prime Minister Modi:
The Prime Minister told innovators and entrepreneurs not to keep their ideas to themselves, noting that the government had organised hundreds of hackathons in record time, which had resulted in several solutions for the country.
“You will notice that several government departments and ministries are in touch with the youth and startups, encouraging their new ideas like new drone guidelines or a new space policy,” he said, according to PTI.
The Prime Minister declared, “The government aims to offer as many youth people with the platform to innovate.”
According to Prime Minister Modi, the golden era of startups is about to begin.
An increase in the number of patents filed:
PM Modi stated that, compared to 4,000 patents registered in 2013-14, the figure for last year (2020-21) was 28,000.
Last year, nearly 2.5 lakh trademarks were registered, up from 70,000 in 2013-14.
According to him, India’s standing on the Global Innovation Index has risen from 81 to 46 due to its innovation effort.
The government’s role in accelerating innovation:
The government has put in place many plans and institutional frameworks, like
‘Start-Up India, Stand-Up India,’ and ‘Make in India’ support youngsters.
PM Modi stated that entrepreneurship and creativity have been freed from bureaucratic silos and that “startups are changing the game and will be the backbone of the new India.”
What did Prime Minister Modi have to say about startups?
“Our startups are altering the game’s rules.” “I believe that startups would be the backbone of New India,” he remarked through video conference while talking with young entrepreneurs. “Let us innovate for India, from India,” says the author.
According to him, the government concentrates on three aspects:
Releasing entrepreneurship and innovation from the web of government processes and bureaucratic silos.
We are establishing an institutional mechanism to promote innovation.
Assisting young innovators and businesses.
Whereas only 4,000 copyrights were granted in 2013-14, that figure increased to over 16,000 last year.
“India’s rating on the Global Innovation Index is improving as a result of the country’s innovation agenda.” India was ranked 81 in 2015 and is now placed 46,” he said.
Startups are not only bringing new ideas to the market, but they are also creating a lot of jobs.
He went on to say that the year 2022 will provide new opportunities and routes for firms and that January 16 will be declared National Entrepreneurial Day to help disseminate culture to the grassroots.
According to Modi, entrepreneurs benefit from easy access to cash and self-certification for compliance with nine labour and three environmental standards.
He claimed that the country’s problems are being addressed through innovation and technology-based solutions.
The startups addressed six themes: Growing from Roots, Nudging the DNA, From Local to Global, Technology of the Future, Manufacturing Champions, and Sustainable Development.
For these presentations, over 150 startups were organised into six working groups.
They discussed agriculture data collection, making India a preferred agribusiness hub, improving healthcare through technology, addressing mental health issues, promoting travel and tourism through innovations such as virtual tours, ed-tech, and job identification, and connecting the offline retail market with digital commerce.
Following the presentations, Prime Minister Narendra Modi stated that the organisation of the Start-Up India Innovation Week is all the more crucial in this year of Azadi Ka Amrit Mahotsav because “As India enters its centennial year, the role of startups will be crucial.”
“I congratulate all of the country’s startups and all of the country’s innovative youth, who are hoisting the Indian flag in the startup world. For this culture to spread throughout the country, January 16 has been designated as National Start-up Day “, stated Modi.
He emphasised three key aspects of the government’s crucial reforms in this decade to boost the innovation, entrepreneurship, and environment, referring to the current decade as India’s “techade.”
Addressing ‘angel tax’ difficulties, streamlining tax procedures, securing government funds, allowing self-certification of certain labour and environmental norms, and removing over 25,000 compliances had all sped up the process, according to the Prime Minister.
He stated that the administration is working to institutionalise innovation by attracting students to it early.
According to Modi, “Our startups are altering the game’s rules. As a result, I believe startups will form the backbone of the new India… Today, India is on the verge of entering the century of unicorns. The golden period of Indian entrepreneurship, in my opinion, is about to begin.”
He shared the importance of entrepreneurship in solving development issues and regional gender inequities.
“Make your dreams global rather than merely local. Keep in mind the mantra: “Invent for India, innovate from India.” “He motivated the innovators to keep going.
In addition, the Prime Minister proposed several areas in which the ecosystem may play a huge role.
He claims that spare space on the PM GatiShakti National Master Plan should be used for EV charging infrastructure and that sectors like defence and chip production provide many opportunities.
Several investors have begun to support drone companies as a result of the new drone regulation. The Army, Navy, and Air Force have placed orders worth Rs 500 crore with drone businesses. The government’s current goal, he continued, is to invest in future technology research and development.
In terms of future opportunities, the Prime Minister stated that only half of India’s population is presently online, implying that future possibilities are vast.
He told startups to expand into communities as well.
“Whether it’s mobile internet, broadband connectivity, or physical connectivity, village aspirations are on the rise, and rural and semi-urban communities are bracing for a new wave of growth,” he said.
Here’s how business leaders are reacting to Prime Minister Narendra Modi’s declaration of January 16:
“A day dedicated to Indian startups is a terrific gesture,” says Gaurav Mangla, CEO and Co-founder of Pickrr. “Pickrr respects PM Modi’s initiative in boosting India’s startup ecosystem.” It will give budding startups wings and inspire all of our country’s innovative youth to launch their businesses. Entrepreneurs will address the relevance of entrepreneurship and innovation to India’s youth and economy on National Start-up Day. Indian startups raised $42 billion in 2021, up from $11.5 billion the previous year.
This shows the sector’s dedication. Fintech, direct-to-consumer brands, and SaaS (software as a service) are new ventures. Pickrr, an actual startup, is one of the most forward-thinking SAAS suppliers. We’ve been shaking up the industry and are on a mission to help D2C brands thrive. With around 60,000 firms contributing considerably to the Indian economy, India boasts the world’s third-largest startup ecosystem.”
Zama Organics founder Shriya Naheta Wadhwa:
“Celebrating India’s startup industry is meaningful since it not only recognises our Indian entrepreneurs’ efforts, but it also stimulates and uplifts the entire community, perhaps motivating many more to follow in their footsteps.” The necessity of showcasing and honouring India’s immense talent is critical, which is a step in the right way. Startups provide one-of-a-kind solutions to complicated problems in a wide range of industries, typically through a digital-first strategy, benefiting the economy, creating jobs, and establishing a presence.
Businesses have been enabled, processes have been improved, and operations have been streamlined through technology in innovative ways. Looking back, Zama was a journey I embarked on out of a pure desire to offer organic and clean products straight from our farmers to our community. I hope that this inspires more people to pursue their ambitions and ideas. The decision and clear message from our government to prioritise innovation and entrepreneurship are exciting, and I am honoured to be a part of it.”
Jupiter’s Founder and CEO, Jitendra Gupta:
“It’s symbolic that National Startup Day has been declared. This news validates the work of entrepreneurs and small businesses from a wide range of industries, and it encourages them to produce innovative and exciting technologies as soon as possible. It also contributes to expanding the Indian startup ecosystem by causing changes in the digital landscape.”
SG Analytics’ Sushant Gupta is the founder and CEO:
“Data management and analytics are becoming the backbone of every industry.” Many startups flourish in this industry because they solve business problems and adopt data-driven solutions. Following the acknowledgement, we may anticipate a slew of incentives in the 2019 budget, which would be a game-changer for everyone.”
“The Startup Industry in India must have gained a lot of confidence today as PM Modi has recognised their efforts,” says Sarvagya Mishra, Co-Founder and Director, Superbot (PinnacleWorks). It takes a lot for an entrepreneur to stay on top of the latest technologies, recognise problems that need to be solved, and develop a creative solution.
It’s a new battle to make it a win-win situation for customers, investors, startups, and the country as a whole. Artificial intelligence, machine learning, and data analytics are booming in India, but they’ll need a lot of money to get started. This award isn’t just a boost for entrepreneurs; it’s also a call to action for all HNIs, VCs, and PEs to jump on board and help make this a technologically successful year for everyone.”
Founder and CEO of FloBiz, Rahul Raj:
“We are ecstatic to be a member of the Indian startup ecosystem and enthusiastically support the government’s decision to designate January 16 as National Startup Day.” We are confident that this initiative will recognise startups’ contributions to building an Atmanirbhar Bharat. The future will be fascinating, with so many possible opportunities available and so many inventors ready to make use of them. We are excited to see how the initiatives indicated to boost the innovation, entrepreneurship, and startup environment will be implemented.”
“The startup economy is a vital source of jobs, economic growth, and investment value,” says Sandipan Mitra, CEO and Co-Founder of HungerBox. Our Prime Minister’s announcement of National Start-up Day builds on the government’s ‘Start-up India’ initiative, launched in 2015. This news highlights the importance of startups in the context of India’s storey and the government’s commitment to entrepreneurial development.”
Clever Harvey co-founder Sriram Subramanian:
“Entrepreneurship is a mindset, and the greatest institutions in the world guarantee that kids adopt this mindset beginning in high school.” We support the government’s decision to declare January 16 as National Startup Day, as we have hundreds of our alumni who have founded their businesses while still in school. This programme aims to educate individuals about the importance of startups in the innovation economy.”
Reshamandi’s CEO and Co-Founder, Mayank Tiwari:
“The importance of presenting India’s rich potential and traits are vital now. The observance of National Start-Up Day on January 16 is a step in the right direction. We believe that the government’s development programmes will provide much-needed exposure, assistance, and direction to entrepreneurs, allowing them to solve long-standing population concerns. India is on the verge of becoming a superpower, and the youth hold the key. Empowering and energising India’s tier 2 and 3 cities is critical for long-term prosperity and positive influence. Prioritise small businesses and local talent.
All necessary for the masses to take up entrepreneurship, skill development, access to the many government-sponsored schemes, financial facilities, and ease of doing business. Agriculture, sericulture, garments, textiles, and related industries, which we work with, require access to all of the facilities that the government has drafted. Providing them with priority access to resources will aid in economic growth, better unit economics, and increased youth involvement.”
Founder of Plug Mobility, Rajiv.K Vij:
“It is a celebration of India’s youth and startups to encourage individuals to innovate and create world-class goods, services, and businesses.”
“The year 2021 has been historic in terms of the number of businesses that have issued IPOs or attained Unicorn status,” says Sasidhar Nandigam, CEO of CredR. It’s a source of great joy that policymakers and the government are recognising the importance and contribution of startups to the fast-growing Indian economy’s heavy machinery. For a long time, the sector has been the target of suspicion from old school economists.
Thousands of young people work in the industry nowadays. Recognising the industry with a unique observation day will undoubtedly assist in raising awareness of the sector while also attracting top talent and investment. Most young families still advise their children to get a “stable” job rather than work for a startup. With this move, I’m hoping that will change.”
Mayank Gulati, ContentNinja’s Co-Founder and Marketing Director, and Shriya Garg, ContentNinja’s Co-Founder:
“This would bring a lot of attention and validation to entrepreneurs and the business community as a whole. I’m hoping it will encourage other ambitious entrepreneurs to take risks and accept failure!”
Raj Das, Hirect’s India CEO and Global Co-Founder “Hon’ble Prime Minister Shri Narendra Modi has taken a crucial step in today’s celebration of Startups in India. We at Hirect applaud this historic step in honouring their hard work, passion, and dedication. Startups tackle some of society’s most difficult concerns in India, creating major jobs and developing a worldwide footprint. The Indian ecosystem has attracted a lot of attention from around the world. We feel that taking this step will not only encourage others to start firms but will also boost the morale of the whole ecosystem in India.”
Edited and published by Ashlyn