Government’s initiative for startups
The Government of India has come forward with various schemes to empower startups in India. A few of them are--
Pradhan Mantri Mudra Yojana
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Credit Linked Capital Subsidy for Technology Upgradation (CLCSS)
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Get a Wealth of Knowledge and Information at startup India Portal
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National Initiative for Developing and Harnessing Innovations (NIDHI)
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Ranking of States on Support to Startup Ecosystems (RSSSE)
Various other initiatives
- Startup India Seed Fund Scheme
- National Startup Awards
- SCO Startup Forum
- Prarambh
Challenges relating to startups in India
- Indian education system lacks behind in vocational training and industry exposure. Due to this, students in India need to catch up in terms of development and research.
- Various small startups in India need to be recognized due to being socially inactive. These are primarily from rural areas that are deprived of internet facilities.
- Most startups in India fail to grow as a significant sum of amount is required for them to develop, and they need a source of formal income.
- Some startups are confined to a smaller region and need more exposure to greater markets. They must be in a particular region to cope with the growing demand, which restricts their growth.
