Business Studies Journal (Print ISSN: 1944-656X; Online ISSN: 1944-6578)


Startup schemes in India and related issues and opportunities-A review

Author(s): Salauddeen Shaik, Radha Krishna Murthy G, Anil Kumar J, Mannem Samanth Kumar

Startup India scheme is a flagship initiative of presidency of India underneath the Ministry of commerce and enterprise. This scheme become first introduced by means of the Honorable prime Minister Shri Narendra Modi in his speech on 15 August 2015.The Startup India scheme targets to construct an eco-device for promoting innovation and design, sustainable financial growth and era of employment possibilities. As an initial step to this initiative, an intensive motion plan turned into launched by using the prime Minister in 2016 which provided for reforms that could help in boosting the India. The objectives of a begin-up are to be one’s very own boss and to create employment to others which warrants lot of persistence and sacrifice. Large populace with excessive percentage of income institution, educated teenagers with technical historical past, IT domination, and excessive net and mobile penetration are some of the drivers which have thrown up opportunities for spreading startup revolution in India. The ‘Make-in-India’ initiatives and different government schemes have additionally given a boost to startups with many people getting into the fray. Beginning a project is a properly-deliberate and disciplined exercise with due consideration of each internal and external elements that can impact the sustainability of the assignment. The idea in the back of the venture, marketplace size, revenue and earnings objectives are some of the crucial elements that want to be sincerely described earlier than embarking on the journey. Time, team works and tenacity are crucial elements which decide entrepreneurial fulfillment. Infrastructure, government guidelines and availability of finance at numerous ranges of increase might be a number of the demanding situations for startups. In fact, records are replete with examples of startups which started with massive fanfare but ended as damp squibs inside a quick span of time because of diverse motives. The paper discusses the begin-up scheme and additionally the challenges confronted by means of the Startups in India.

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