Top business leaders to help Modi's start-up action plan

06 January 2016

Global corporate leaders including SoftBank founder and chief executive Masayoshi Son, Uber founder Travis Kalanick and WeWork founder Adam Nuemann are among the 40 top business leaders who would offer their inputs on 16 January when Prime Minister Narendra Modi unveils his action plan for a boost to the country's start-ups.

Department of Industrial Policy and Promotion secretary Amitabh Kant on Tuesday said that around 2,000 start-ups, venture capitalists and angel investors would take part in the day-long session to discuss the issues being faced by them and exchange ideas on the measures which can be taken for boosting their growth.

The action plan would highlight initiatives and schemes being undertaken by the government to address various aspects relating to developing a conducive start-up ecosystem.

''Start-ups cut across the entire ecosystem. Everybody needs to create an ecosystem for start-ups. We are working together to create a unique ecosystem for them. We want the start-ups to grow and flourish. There are too many issues on compliance. The intention is that government will keep itself away,'' Kant said. The aim of the plan would be to help firms in penetrating tier-II and tier-III cities in sectors such as manufacturing and healthcare.

On the occasion, Google will conduct an innovative session titled 'Launchpad Accelerator' which will involve live pitches being made by early state start-ups to potential investors. ''Whosoever is able to get into the 'Launchpad Accelerator' will get a cheque of $50,000 from Google equity funding into their start-ups,'' he said.

In the event, to be inaugurated by finance minister Arun Jaitley, secretaries of key departments will answer questions on how government will be creating an enabling ecosystem for start-ups.


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