Startup India is a flagship initiative of the Government of India, intended to build a strong eco-system for nurturing innovation and Startups in the country that will drive sustainable economic growth and generate large scale employment opportunities. The Government through this initiative aims to empower Startups to grow through innovation and design.
In order to meet the objectives of the initiative, Government of India announced the Action Plan that addresses all aspects of the Startup ecosystem on 16th January 2016. With this Action Plan the Government hopes to accelerate spreading of the Startup movement. The Action Plan is based on the following three pillars:
- Simplification and Handholding
- Funding Support and Incentives
- Industry-Academia Partnership and Incubation