Top CEOs, foreign investors to offer inputs to Startup India initiative

About 40 leading business leaders, venture capitalists and around 2,000 startups would offer key inputs to the action plan to be launched by Prime Minister Narendra Modi on January 16 for encouraging budding entrepreneurs.

The government on January 16 is holding a day-long session on startups in which around 2,000 new age ventures, 40 CEOs, and venture capitalists would participate, DIPP secretary Amitabh Kant told reporters.

“The Prime Minister will unveil the action plan of the Startup India. About 40 leading CEOs, venture capitalist, angel investors from Silicon Valley will come down,” he said.

He said that by nature, startup action plan cannot be a one policy.

The plan would highlight initiatives and schemes being undertaken by the government to address various aspects relating to developing a conducive startup ecosystem in the country, he said.

“Startups cut across the entire ecosystem. Everybody needs to create an ecosystem for startups. We are working together to create a unique ecosystem for them,” he said.

“We want the startups to grow and flourish. There are too many issues on compliance. The intention is that government will keep itself away,” he added.

He said that the action plan would help the sector in penetrating tier-2 and tier-3 cities in sectors such as manufacturing and healthcare.

Speaking about the programme, he said the event will feature interactive talks with global leaders such as founder and CEO of SoftBank Masayoshi Son; founder of WeWork Adam Nuemann, Uber founder Travis Kalanick.

Google will be conducting an innovative session titled ‘Laucnhpad Accelerator’ which will involve live pitches being made by early state startups 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 startups,” Kant said.
Finance minister Arun Jaitley would inaugurate the event at ‘Vigyan Bhawan’.
 A question and answer session titled ‘Face-to-face with Policy makers’ is also being organized wherein Secretaries of key departments will answer questions on how government will be creating an enabling ecosystem for startups.
“The objective is to reinforce commitment of the government towards creating an ecosystem that is conducive for growth of startups,” he said.