3 Ways the Launch of Startup India Hub will Help Entrepreneurs

Source | Entrepreneur : By Sanchita Dash

Since the conception of the Startup India Standup India initiative, the Narendra Modi government had promised a transformation of the start-up ecosystem and has even introduced a host of initiatives since then. While the promises excited all in the beginning, it also seemed to wear off when the government took some time to figure out the initiatives and how or which start-up can avail it. Stepping up their game, the government has now introduced Startup India Hub, one that it had promised at the launch of the initiative in 2016.

Cut to 2017, and the government boasts that they have facilitated the existence of 3,300 startups with 963 crores of funds disbursed by government agencies, Rs 828 crores sanctioned for infrastructure facilities that will make way for growth of start-ups and over 1,000 identified facilitators who will be helping start-ups. While the hullabaloo of tax benefits from the government has been around for long, 39 startups have been exempted from taxes so far. DIPP secretary Ramesh Abhishek also announced that they have approached the Union Cabinet for a 2000 crore fund for startups and are waiting on the approval for the same.

But while these are yet to see the fruition of their labour, the Startup India Hub is now live allowing entrepreneurs to start interacting with the others from the ecosystem.

Entrepreneur India takes a look at how the Startup India hub, a virtual one, is slated to be a gamechanger in the ecosystem.

A One Stop Shop for All

While entrepreneurs in the Tier I cities have access to networking events, mentors and funds, Tier II and Tier III cities even with their talent, fail to reach out to the knowledge base. Now, with a virtual hub which acts like a social media platform for entrepreneurs, the Startup India Hub will connect entrepreneurs to mentors, investors, incubators/accelerators and even government bodies. Calling it the first point of contact for the entire startup ecosystem, the hub is also built on a gamification model.

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