Prime Minister Narendra Modi on Saturday announced that January 16 will be celebrated as 'National Startup Day'. He said, startups are going to be the backbone of new India. The Prime Minister also highlighted that India's startup ecosystem is "continuously discovering and improving itself. It is in a constant state of learning and changing."
Startups hailed the prime minister's announcement.
Matter of pride for startups
Karanvir Singh - Founder & CEO at Pariksha--edtech for government exams
It is a matter of pride for the startups to be recognized by the Prime Minister of the country as the backbone of new India. The COVID-19 outbreak created a lot of gaps in day to day functioning of the individuals, and many startups came forward to fill-in. Innovation was on an upswing, and a lot of sectors were disrupted by technology. The EdTech model topped the list as education took an online route, and traditional education institutes turned to technology, seeking transformational support. There is a dire need for a well networked EdTech infrastructure in the country. This must be considered in the upcoming Budget session as well.
Anshul Bhagi, Founder, Camp K12-edtech
As a brand that champions new-age 21st century skills for young learners, the Camp K12 team has long worked towards lowering the barrier to "starting up" across India's schools and K-12 segment. We believe the proposed policy changes will provide a boost to young entrepreneurs across the country and we celebrate this announcement.
Mangesh Panditrao, CEO & Co- Founder, Shoptimize-D2C eCommerce platform
There has been a lot of innovation by Indian startups in recent years resulting in world class products, job opportunities as well as wealth creation. The announcement made by the honorable PM is a big boost to the startup ecosystem. The continuing support from the Indian Government will create an atmosphere for startups to further innovate and grow. We will see more unicorns coming from the Indian startup ecosystem.
Not just a symbolic announcement
Nitin Misra, Co-founder, Indiagold-gold loan company
Government in the past has launched several initiatives to boost startups in India. Announcement of National Startup Day is not just symbolic; it conveys the seriousness of the government to foster and grow the startup ecosystem in India. While we still have a long way to go, the intent and actions from the government are encouraging.
To be a startup in India is to have an ocean of opportunities. The rapid internet penetration in India has opened up all kinds of traditional markets to startups innovation. The talent and energy in the Indian startup ecosystem is mind-boggling and so many world-class products are being built for the world from India. The most exciting part of this story is that we are just getting started.
Nirmit Parikh, CEO and Founder, apna.co-job portal
We see this as a milestone announcement by the Prime Minister that will define the future of India and the world. Today, the entire nation is celebrating the innovations brought by startups. And we are certain that India will become the innovation capital of the world in the next few years.
Roshan Farhan, Founder & CEO, Gobillion-B2C social commerce startup
We welcome the move of declaring January 16th as National Startup Day, it will provide much needed focus in promoting startups and entrepreneurship, especially in smaller towns in India.
Sushant Gupta, Founder & CEO of SG Analytics- research and analytics startup
Data Management and Analytics is becoming the foundation of all industries. This sector is thriving with lots of startups since they are solving business problems and implementing data-driven solutions. Following the recognition, we can expect all forms of encouragement in the upcoming budget which would prove a gamechanger for all.
Time for Indian startups to race to top position globally
Nayan Gala, Founder, JPIN Venture Catalysts
With 54 unicorns and 7 IPOs produced in 2021 alone, it is clearly evident that the startup scenario in India is booming and has now become a very important part of the alternate investment strategy for every venture that is looking for great returns.
Apart from just tapping into local markets, new-age entrepreneurs are also looking to expand internationally. The National Startup Day declaration by Shri Prime Minster Narendra Modi is a clear signal that it is India’s time to go from #3 to #1 globally and that the government will be actively supporting ambitious founders in their journey towards growth and expansion.
Pranav Dangi, Founder and CEO, The Hosteller-branded chain of backpacker hostels
National Startup Day will help startups stay motivated on their path and push them to perfect services with the knowledge that the government acknowledges their hard work and creative visions. We hope to see more focus on small and middle tier startups that will benefit greatly from the exposure and consideration. The startup market in India is not only booming, but exactly at that precipice where this positive and supportive environment will propel growth in exponential numbers. This is a wonderful opportunity to really connect our decision-makers with some of the most creative, innovative and ground breaking businesses of the nation.
Niraj Singh, Founder & CEO, Spinny
The Indian startup business landscape is far more open and accessible, as compared to some of the biggest economies. The announcement to celebrating 16th January as a National Startup Day is welcomed and well appreciated. We also believe that the Indian startup environment will continue to grow at a rapid pace with more and more new age businesses coming and shaping the economy.
Encouraging entrepreneurships
Greg Moran, CEO and Co-Founder, Zoomcar-self-drive car rental company,
The announcement of a National Startup Day has not only put a stamp on the existing startup ecosystem in the country but also encourages startups to expand and do more. With this kind of support from the government, aspiring, potential and existing entrepreneurs will gain the confidence to bring about transformation for themselves, bigger companies, and the entire country.
Zafar Imam, CEO, FinShell, digital financial services firm
Indian startsups have contributed in changing the image of our country. The sector has created thousands of new job opportunities, disrupted many industries and helped in penetrating untouched geographies by the use of innovative technology. Most of the startups use latest technologies such as AI, IoT, Analytics, and Robotics etc. Startups are not just creating a space of their own, but are also helping traditional players by providing them support to expand their businesses and bring innovation. Successful startup companies have become money making engines for their business owners, employees and shareholders. This recognition, by the government, will help the young generation to think beyond boundaries.
Ujjwal Singh, CEO-Infinity Learn by Sri Chaitanya-edtech
India Startups are creating visualizers and budding leaders who have the idea and passion to bring change through innovation. The startups across sectors can hence explore this opportunity to build this New India. Through innovation and scalable technology, startups in India are generating impactful solutions, and acting as vehicles for socio-economic development and transformation. Startups are also emerging as important engines for generating employment (Creating 1.74 lakh new jobs in 2021 and of which nearly 15,000 net additions are from EdTech start-ups alone accounting for the highest number of job creation sector in India).
Harish H P, Founder & CEO, The Diamond Drops-greentech firm offering chemical free cleaning and natural water purification technology
Encouraging new entrepreneurship is a first step for self-reliance. Our innovative products in hygiene and water purification are indeed a testimony to reducing gap between technology and vision to safeguard our environment and improving life style. We are hopeful to bring a huge influence in the areas of hygiene and clean water by growing our start-up in the coming years.
Sanket Shendure, Co-Founder and CEO, Minko-fintech platform
The declaration recognises those who have been toiling in the shadows. It will make it easier for future entrepreneurs to have the hard conversations with their families and get their support. It will lead to ease of doing business and inspire the youth towards alternate career opportunities.
We would ask the government to involve more startups in policy and decision making; make it easier for individuals to invest micro amounts in startups / change in legislation; increase promotion and awareness of the various benefits available under the Startup India Program; create a sovereign fund to invest in promising hard tech startups that can aid in nation-building - wealth will be generated and retained in India; overhaul of our employment and zoning laws to make running a startup efficient.
Sasidhar Nandigam, CEO, CredR-online and offline marketplace for used two-wheelers
The startup sector employs lakhs of youths today. Most households with young blood still advise their wards to take up a ‘secure’ job instead of working for a startup. Hope that changes with this move.
The government should look ensure ease of doing business by means of friendly taxation policies, timely taxation credits, refunds and uniform compliances nationally, rather than statewise that would save company cost and free up working capital; ceate a mechanism where public sector companies should conduct 20 percent of their business with MSMEs and create frameworks for payments to happen within stipulated time periods as working capital is the fuel of any startup; create a government-led, neutral fund to back those startups that are working in the areas of social impact.
Recognition for startups
Kushang, Co-founder & CEO of SupplyNote- SaaS+ e-commerce platform
Startups have worked tooth and nail during the pandemic to keep it going for all. A lot of sectors like food and beverage, HRs, education were struggling to adapt to the changing times. Amidst this, the technologies explored by new age startups that were earlier restricted to a set of audience, came all out available to all, and proved a saviour. A lot of shops never saw their shutter down, because new age solutions helped them sustain. This acknowledgement from PM Modi will motive budding entrepreneurs too, to step forward and take the plunge.
Vimal Sharma, Founder-Director and CEO, SMOOR-luxury chocolate brand
India today is in the Top 3 global markets in terms of customers using technology as well as ecommerce. Growing brands like us are banking on this momentum and have ambitious growth plans given the digital revolution. This 'Techade' is definitely a turining point in India's growth story and we are delighted to play our small role in it.
Akshay Chaturvedi, Founder & CEO, Leverage Edu--education firm
Startups in India are indeed changing the game. I am happy for, and proud of all my fellow peers who wake up everyday and give their blood and sweat to build something from scratch. Women and Men who defy the odds everyday to not just put their company on the map but also India ???????? as a world leader in 21st century innovation.
Dhruv Sawhney, Business Head and COO, nurture.farm-agritech startup
This is an incremental step in the acceptance of the startup culture in India. With the largest working population the country has ever seen and the outburst of the internet as a service, the Indian youth is today equipped to solve problems that previously did not have a voice or a face. The sheer size, scale and diversity of service delivery in India proves it to be a startup hub. With a billion-plus population to serve, there are a plethora of services and offerings that, when innovated, can change the standard of living or ease of living for millions of people. In the AgTech space, startups focus on sustainability and incentivising a shift to better practices, thus making it a win-win scenario for farmers, consumers and the environment as a whole.
Celebrating such innovators and service providers will boost confidence and give more and more youngsters the necessary push to take risks with respect to their ideas and drive changes.
Priyadarshi Mishra, CEO-Founder, Design and Construct-affordable construction company
The decision of the Prime Minister will encourage and bring a new revolution in the startup ecosystem. It will encourage entrepreneurs to contribute to the ever-growing economy, provide innovative solutions, and transform people's lives. India is all set to make a global impact as the government has introduced many policies that will encourage start-ups to make their dreams and visions global.
Anshuk K Aggarwal, Co- Founder, AdYogi-marketing platform built exclusively for D2C e-commerce brands
National Startup Day will serve profoundly in making the new generation of youth aware that starting your own venture is a viable career alternative. As more and more job seekers turn into entrepreneurs, I am sure India will see a wave of homegrown companies solving unique challenges like never before. And over time, this must also bring down the prevailing unemployment rate in India.
Anshuman Narain, Vice President, CashBean (P.C.Financial Services Pvt. Ltd.)
National Startup Day is a day of both celebrations and revaluations. What is now needed is a more responsive policy feedback system. Startup businesses almost always tend to break new ground in terms of their service or disruption. While the policymakers should keep the larger fiscal interest paramount, other countries have shown how to balance emerging business requirements with quick turnaround on regulatory changes. India needs policy in line with 2021.
Sushant Kumar, CEO & MD, AMO Mobility Solutions Pvt. Ltd.
The declaration of National Startup Day further emboldens the position of Indian tech talent in the global world. It is a monumental opportunity for budding founders and entrepreneurs to get deeper insights of the market. The move is also likely to encourage further investments in the country, which will generate more employment and innovations. The sustainable charging infrastructure in the country for electric vehicles is a highly contentious issue to look into at this moment.
