Startup in India –Stand Up India Retrospect and Prospects

Abstract

India is rapidly emerging as a premier platform for entrepreneurs and startups, with significant contributions from innovative minds and successful entrepreneurs across small towns. The "Startup India; Standup India" initiative, launched in 2018, aims to create abundant opportunities and bolster India's startup ecosystem. This initiative establishes a robust framework for fostering innovation and startups, driving sustainable economic growth, and generating widespread employment opportunities. The government’s goal is to empower startups through innovation and design. The "Standup India" initiative focuses on promoting entrepreneurship among Scheduled Castes (SCs), Scheduled Tribes (STs), and women. The rural counterpart of Startup India is the Deen Dayal Upadhyay Swaniyojan Yojana. Both initiatives were launched by the Department of Industrial Promotion and Policy (DIPP) to nurture entrepreneurial talent and innovation across diverse communities. The study will examine the retrospective and prospective aspects of the "Startup India; Standup India" initiative, addressing the challenges and providing suggestions to enhance the program’s success. This research contributes to a nuanced understanding of the Indian startup ecosystem by meticulously evaluating the initiative’s successes, failures, and future directions, thereby providing a foundation for evidence-based policies to nurture startup growth. As Dhirubhai Ambani once said, "Ideas are no one’s monopoly. Think big, think fast, and think ahead."