A startup is a newly established business, usually small, started by 1 or a group of individuals. Startups are becoming very popular in India. In order to develop the Indian economy and attract talented entrepreneurs, the Government of India, under the leadership of PM Narendra Modi, has started and promoted the Startup India initiative to recognize and promote start-ups.
On January 16, 2016 the government of India launched the Startup India Initiative . This was undertaken in order to support entrepreneurs, create vigorous startup ecosystem as well as shift India towards creating jobs rather than seeking them.
The very objective of the Startup India Scheme was to build a strong ecosystem for promoting innovation and startups in the country.
Further, such a drive would encourage sustainable economic growth and create large scale employment opportunities. Thus, through this program the government intended to empower startups to grow through innovation and design.