CEOs, VCs to offer inputs to Centre’s start-up action plan

The action plan would highlight initiatives and schemes being undertaken by the government to address various aspects relating to developing a conducive start-up ecosystem.

By: ENS Economic Bureau | New Delhi | Published: January 6, 2016 1:44 am

Global corporate leaders including SoftBank founder and CEO Masayoshi Son, Uber founder Travis Kalanick and WeWork founder Adam Nuemann are among the 40 top business leaders who would offer their inputs on January 16 when Prime Minister Narendra Modi unveils the action plan for a boost to the country’s start-ups.

Department of Industrial Policy and Promotion secretary Amitabh Kant on Tuesday said that around 2,000 start-ups, venture capitalists and angel investors would take part in the day-long session to discuss the issues being faced by them and exchange ideas on the measures which can be taken for boosting their growth.

The action plan would highlight initiatives and schemes being undertaken by the government to address various aspects relating to developing a conducive start-up ecosystem.

“Start-ups cut across the entire ecosystem. Everybody needs to create an ecosystem for start-ups. We are working together to create a unique ecosystem for them. We want the start-ups to grow and flourish. There are too many issues on compliance. The intention is that government will keep itself away,” Kant said. The aim of the plan would be to help firms in penetrating tier-II and tier-III cities in sectors such as manufacturing and healthcare.

On the occasion, Google will conduct an innovative session titled ‘Launchpad Accelerator’ which will involve live pitches being made by early state start-ups to potential investors. “Whosoever is able to get into the ‘Launchpad Accelerator’ will get a cheque of $50,000 from Google… equity funding into their start-ups,” he said.

In the event, to be inaugurated by finance minister Arun Jaitley, secretaries of key departments will answer questions on how government will be creating an enabling ecosystem for start-ups.

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  1. Hemen Parekh
    Jan 6, 2016 at 6:09 am
    Fear of Being Ridiculed ? Many a great ideas have remained unexpressed due to fear of being ridiculed But there have been notable exceptions Idea whose time may not have come but that did not prevent its proponent to speak up - even at the risk of being ridiculed IDEA : Abolish Personal Income tax in order to solve the twin problems of black money and corruption , for ever BRAVE HEARTS : Nani Palkhiwala Ram Jethamalani Subramanyam Swamy When scions of business / industry meet Shri Arun Jaitleyji today , to give their suggestions in respect of Corporate Income Tax provisions in the forthcoming Union Budget , will any of them have the courage to advocate : * Abolition of Personal Income Tax ( Revenue loss of Rs 2.5 lakh*Crores ) * Reducing Corporate Tax rates with rise in no of employees ( Incentivize Job-Creation ) * 10 % of GST collection to get credited in PPF accounts of the Buyer of Goods / Services * GST rate increase (in coming years) to be no more than 5 % of CPI rise in previous year * No questions ( as to the Source ) for cash deposited in Jan Dhan Bank Accounts { Permanent Unlimited Amnesty } * FD Interest / Dividends from Infra Bonds / SPVs to be credited to Jan Dhan A/cs * Introduction of 2 % Bank Transaction Tax ( Revenue gain of Rs 15 Lakh*Crores ) * Announcement of " Start Up Act / 2015 " ( read... hemenparekh / Blogs ) * Introduction of Rs 500/1000 currency notes with embedded RFID / unique IP Address I hope those Business Leaders / Industrialists will take courage from the fact that , initially , all ideas get ridiculed which are aimed at , * Upsetting the existing Social Order * Threatening the vested interests * Destroying the cozy comfort * Democratizing the Economic Powers Then a time comes when those very ideas are appreciated and , later, even admired ! Please , do not miss your " Tryst with the Destiny " ! ------------------------------------------------------------------------------------------------------- hemen parekh 06 Jan 2016 ( Source : hemenparekh / blogs )