Modi to launch 'Start-up India' programme on Saturday

The government's "Start-Up India" initiative along with a "Start-Up Action Plan" will be launched here by Prime Minister Narendra Modi on Saturday, an official statement said.

"The launch event is aimed at celebrating the entrepreneurship spirit of country's youth and will be attended by CEOs and founders of top start-ups from across the country and abroad," the Prime Minister's Office (PMO) said in a release here.

The programme is aimed at promoting financing for start-ups and give incentives to boost entrepreneurship.

Modi will release the Start-Up Action Plan, visit a virtual exhibition and interact with start-up entrepreneurs at the event, the statement said.

In a session called "Face-to-face with policy-makers", secretaries of ministries and departments concerned will respond to queries on how an enabling ecosystem for start-ups could be created, it added.

"The objective is to reinforce commitment of the government towards creating an ecosystem that is conducive for growth of start-ups," the PMO said.

The event will also feature interactive sessions with global corporate leaders and venture capitalists like SoftBank founder Masayoshi Son and WeWork founder Adam Nuemann.

The event will be telecast live in IITs, IIMs, NITs, IIITs and central universities and to youth groups in over 350 districts of India.

Meanwhile at an industry chamber FICCI organised discussion on Friday about the new startup policy, participants said the time was ripe for India to unveil its policy to encourage startups, FICCI said in a statement here.

Minister-Counselor at the US Embassy here George Sibley said at the event that the present regulatory framework in India did not offer much scope for entrepreneurship.

"However, it was expected that the proposed policy would provide access to capital and a complementary IPR (intellectual property rights) regime, which would allow entrepreneurs to grow and prosper," FICCI said citing the American diplomat.