Just a few months after coming to power, PM Narendra Modi had launched the ‘Stand Up India Startup India’ scheme to promote entrepreneurship in the country. The ‘Stand Up India Startup India’ scheme is now actually being implemented in college campuses across the country to enable students to launch business ventures and become job creators. A new policy implemented by the All India Council of Technical Education’s (AICTE) will enable students pursuing their undergraduate and post-graduate courses in colleges to take up specialized courses on how to launch and develop startups. This policy is likely to be revealed by President, Pranab Mukherjee next week. The council’s move supports the string of measures taken by PM Narendra Modi to promote start-ups in the country. India has the third largest number of startups in the world. Earlier this year, PM Narendra Modi had announced that startups launched in the country need not pay taxes for three years and would be given loans of upto Rs. 10,000 crores as well as better access to technical – know hows by strengthening the startup ecosystem in India. This move is to encourage and strengthen startups in the country which would create more jobs for the youth and revive the Indian economy. Read more on Startups
PM Narendra Modi also said that companies like Google and Facebook, which were founded by American students, which have their headquarters in Silicon Valley were looking to replicate their success in India. “AICTE has come up with a policy…to promote student driven start-ups. The policy will serve as a guide to groom students to take up entrepreneurial careers. A committee was formed for this purpose and they have highlighted the need for re-orienting academic curriculum too”, a government official said. To ensure that students who launch startups in the country are able to complete their degrees as well, universities all over India will give its students ‘a cooling period’ of a year to do their business and rejoin the university. “The start-up policy also highlights the need for early exposure on entrepreneurship and will induce many skills to young students that are generally not delivered in regular classroom teaching-learning”, the government official added. The aim of this policy is to ensure that one lakh technical startups are launched in India by 2026 and also to create a provision for students to acquire a degree with specialization in start-ups.
It is very heartening indeed to see that the PM Narendra Modi led BJP government is actually implementing its ‘Stand Up India Start Up India’ scheme in all the colleges of India. Technical Startups are the need of the hour as far as India is concerned and will help create millions of job opportunities for the youth of India and thereby improve the Indian economy. We whole heartedly salute PM Narendra Modi and the BJP government for implementing its noble schemes. Read more on Startup News