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Published on 21/01/2020 3:21:48 PM | Source: Dion Global Solutions Ltd

Comm Min to showcase Startup India tableau at Republic Day Parade

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The commerce and industry ministry on Tuesday said it will showcase a tableau on Startup India, which aims to promote innovation and entrepreneurship in the country, at the Republic Day Parade. With the theme 'Startups: Reach for the Sky', the tableau will showcase stages of the lifecycle of a startup and the all-round support provided by the government, the ministry said in a statement. "The front of the tableau depicts a creative mind, full of ideas to solve real world problems.

The Startup India Tree, in the middle will represents different kinds of support given," it said. The staircase will denote stages of growth proving a concept, creating a prototype, preparing a business plan, building a team, launching into markets and eventually scaling up. The wheel will depict sectors of economy where Indian entities have driven economic growth and created employment opportunities on a large scale, it added.

Startup India is a flagship initiative of the government, intended to build a strong ecosystem to nurture innovation, drive sustainable economic growth and generate large scale employment opportunities.

The objective is to inspire and motivate youth to follow their dreams to generate wealth and become job creators and not just job seekers. Under the Startup India Scheme, eligible companies can get recognised as startups by the ministry in order to access a host of tax benefits, easier compliance, IPR fast tracking and other incentives.

More than 26,000 startups from 551 districts of 28 States and 7 Union Territories have been recognized so far. "Working across IT, Industry 4.0, education, healthcare, agriculture, energy, finance, space, defence and all other sectors of economy, Indian startups have attracted substantial global investments and created more than 2,91,000 jobs," it added.