A Descriptive Study on Startups in India: Growth, Opportunities, Challenges and Incentives

In the direction of fulfilling the goal of becoming a nation of job creators rather than of only job seekers, Government of India announced a new vision on August 15, 2015 and launched the ‘Startup India’ program on 16 January, 2016. But, numerous challenges are in the way of fulfilling this dream. This study aims to know about various issues of startups, different initiatives taken by the government for the development of startups and to know about the growth of startups. Secondary data for this study is collected from various research papers, websites, press release of Press Information Bureau and newspapers. Under this study, various issues whether it is related to infrastructure or entrepreneurs are revealed. Also, various initiatives taken to promote startups such as Startup Village Entrepreneurship Program (SVEP), Technology Incubation and Development of Entrepreneurs 2.0 Scheme, etc. taken by different ministries or departments are discussed. Apart from it, growth tendency in number of recognized startups and direct jobs created by recognized startups are also stated. This study is useful for the general public and students also, who want to have startup. However, further scope in the study is that it might be conducted with the help of primary data.