More entrepreneurship skills have come to the fore through the culture of start-ups, which has become a key point of agenda for the Union government, with the Prime Minister Narendra Modi unveiling the ‘Start Up India’ programme earlier this year.
Pune, other than being a recognised IT and manufacturing hub, has also developed into a vibrant city for start-ups over the years. The start-ups now hope that the government takes steps to address issues pertaining to Angel Tax and government support to non-IT start-ups. An angel investor is an investor who provides financial backing for small startups or entrepreneurs.
The NASSCOM start-up report states that Pune houses six per cent of the start-ups in the country. The city has seen funding worth $ 80-90 million last year with majority of the start-ups in the domain of e-commerce or hyper local e-commerce.
Firstcry, Framebench, Helpshift are some of the better known start-ups in the city. In order to encourage the culture of start-ups, Pune has also seen the setting up of warehouse by NASSCOM as well as incubation centers. Lack of funding and early stage customers are the major issues plaguing the start-ups.
Maneesh Bhandari, director, Pune operations of CIIE (IIM Ahmedabad’s Center for Innovation Incubation and Entrepreneurship) hopes that the Union Budget will look into the issue of Angel Tax. “Angel investors, always end up losing money and taxing them makes no sense. We hope the Budget will take steps to repeal that,” he said. Bhandari also said that the Budget should make provisions to encourage non-IT start-ups. Mohit Gundecha, co-founder of Jombay, said that the Budget should focus on skill-based education. “Besides traditional skill education, the government should also shift its focus towards encouragement to develop strong and positive attitude in individuals and hold training to boost soft skills and behavioural aspects. This will then reflect in corporate culture, helping in enhancing performance, leading to a robust economy. Hence, the government needs to emphasise more on soft skills and behavioral improvement to make the Skill India mission reach its optimum level,” he said.