Pune start-up leaders salute ‘focussed budget’

Ashutosh Gawade, Eadicct Mobility Solutions Pvt Ltd and Satej Medinnova

The ECLGS Scheme Extension will benefit MSMEs in recovering from the impact of Covid. The launching of Electric Vehicle Battery swapping policy and battery standardisation is going to be the “super booster” for all startups and OEMS and users as standardisation was a must. Now, scalability of the battery and charging infrastructure will be easier and more OEMs will enter the market increasing competition. This will lead to higher acceptance of Evs.

The extension of concessional corporate tax of 15 per cent for one more year is a welcome step. Startups Intellectual Property Protection Programme will also be helpful as it has simplified and accelerated the processes related to patents and trademarks.

Sreejith Moolayil, co -founder and COO, True Elements

The announcement of a co-investment model, facilitated via NABARD, for agriculture and farm produce value chain-based startups is a welcome move and would bring farm and agri startups to the forefront. This would create a large number of jobs at the bottom of the pyramid. Brands such as ours, who contract farm and source, would benefit through this move. The announcement of 2022-23 as the millet year is going to help increase awareness of millets. This would have a positive impact on the Health – Environment – Farming economy.

Malhar Katare, co-founder, PawshBox

India is starting to become a blooming ecosystem for startups. Even during Covid times, Indian startups have seen a two-fold increase in the investment raised. Support over the next few years can encourage an increasing number of entrepreneurs to create more businesses and, hence, more jobs. Covid has caused a lot of disruption in several markets. Our startup is an online and offline retail for pet supplies, a business heavily dependant on logistics. Logistics continues to be a pain point even after almost two years since the announcement of the lockdown. Startups that are not funded often need to rely on lean and frugal means to grow. The extension of tax exemption will come in handy and help newer and non-funded startups to divert their funds into growth.

Akshay Poorey, co-founder of DINGG: SAAS Platform to Automate Salon and Spa Operation

This budget will help to move India to the next level of growth. The FM had mentioned that because of the contribution of startups to the Indian economy, it has seen significant growth. Hence, tax exemption for startups being extended by one more year is a welcome move.

Dr Ashwin Naik, co-founder, Mission ICU

The budget has touched upon two significant parts of the healthcare ecosystem that will deliver a long-term positive impact on the health and wellbeing of the people of our nation. First, the focus on building a national tele-mental health programme is a commendable initiative. With less than 1 psychiatrist per 1,00,000, we Indians face a severe lack of mental health infrastructure and leveraging technology is a definitive way forward to combat this. By building a national network, we will be able to provide the much-needed support in far flung areas of the country, where access to mental health support is limited.

Second, the biggest challenge in healthcare sector currently is access to quality care information and its asymmetry with patients and families at the short end and healthcare providers and hospitals holding the information and power. By building a national digital health ecosystem, the information barrier and asymmetry will help bridge the gap and shifting the power dynamic in favour of the patients and the community.

(As told to Ruchika Goswamy & Dipanita Nath)