Over the past few years, the startup ecosystem has witnessed exponential growth within the country. With Prime Minister Narendra Modi’s direct involvement in promoting startups with ‘Start-up India Stand up India’ initiative, we can expect a positive impact on the ecosystem as well as the economy. The government needs to play a pivotal role in various dimensions of the startup ecosystem, and the main focus should revolve around the 3P’s (Promotion, Policy and Pravasi Indians(NRI)). The government should help provide a voice to the startups, by promoting them across the world which will help them emerge internationally. Secondly, creating startup friendly policies, which will nurture their growth by preventing hurdles like red tapism etc. Most importantly, they need to incentivize ‘Pravasi Indians‘ to invest within the country so that Indian startups gets a major boost and create better career opportunities for the youth of the nation.
By: Mr. Umesh Sachdev, CEO & Co-Founder, Uniphore Software Systems