PM Modi to unveil Start-up India: All you need to know about it

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New Delhi, Jan 16: Prime Minister Narendra Modi is set to launch the "Start-up India" movement at Vigyan Bhawan here on Saturday.

The launch event is aimed at celebrating the entrepreneurship spirit of country's youth, and will be attended by CEOs and founders of top Start-ups from across the country and abroad, said a statement issued.

Start-up India facts

PM Modi first spoke about the initiative during his Independence Day speech last years. It will be the government's New Year gift to "young people" who want to set up new businesses or innovative projects.

Here's what we know about the event so far

  • The Start-up India programme is aimed to boost entrepreneurship at the grassroots level.
  • The programme will focus on ensuring benefits for the youth from the lowest strata of the society.
  • The programme is aimed at promoting bank financing for start-up ventures and offer incentives to boost entrepreneurship and job creation.
  • Finance minister Arun Jaitley inaugurated the event at Vigyan Bhawan in New Delhi.
  • Minister of State for Commerce and Industry Nirmala Sitharaman, and the Minister of State for Finance Jayant Sinha attended the event.
  • Around 40 top CEOs and startup founders and investors from Silicon Valley will be attending the event as special guests, and take part question and answer sessions at the event.
  • A unique Question and Answer (Q&A) session titled "Face-to-face with Policy-makers" is also being organized.
  • Global leaders and venture capitalists such as Masayoshi Son (Founder and CEO, SoftBank) and Adam Nuemann (Founder, WeWork) and many more will take part in the event.
  • If reports are to be believed, the government is planning to scrap a tax on seed funding to startups by Indian angel investors in the upcoming Union Budget.

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