BoostMySale Co-Founder Priyanka Rungta Attends the Startup India Event at Delhi

Kolkata, India, January 21, 2016 --( The Indian government launched an ambitious new scheme, Startup India Standup India on Saturday in New Delhi. The event was aimed at giving a push to the entrepreneurship in the country. The event was attended by 40 top start up founders, CEO’s and investors from the Silicon Valley.

Some of the top names who were present at the event were Masayoshi Son, CEO SoftBank, Nikesh Arora, President and COO, SoftBank, Uber founder Travis Kalanick, Sachin Bansal of Flipkart, Adam Nuemann, CEO, WeWork, Ola founder Bhavish Aggarwal, Vijay Shekhar, founder of Paytm, Radhika Agarwal, founder, Shopclues and Ritesh Agarwal of Oyo Rooms.

Indian StartUp Story So Far
India is ranked 3rd among all nations with 4,200 startups. A total revenue of $18 billion was raised by Indian companies between 2010 – 2015. Quite surprisingly, $9 billion out of this $18 billion came in 2015. Recent surveys have also shown that 9 Indian startups are valued at more than a billion dollars.

Support to Emerging Startups
The event was announced by the Indian Prime Minister last year at his Independence Day address. The event that was held a couple of days back had the top brass of Indian Startup fraternity. The most promising announcement in this regard was the new category – ‘Innovative Startups’. These enterprises will differ from micro, small, medium and large enterprises that follow the conventional models of business.
The Prime Minister also announced that there will be a credit guarantee mechanism by the National Credit Guarantee Trust Company and SIDBI. It will have a budgetary corpus of Rs. 500 crore per year for the next four years.

The government will also fund support with a corpus of Rs. 10,000 crore. It will be set up with an initial fund of Rs. 2,500 crore and will later be increased to 10,000 over a period of four years.

Startups will also be allowed to self-certify compliance with labour and environment laws. As far as labour laws are concerned, no inspection would be conducted for a period of three years. In case of environment laws, start-ups under ‘white’ category would be able to self-certify compliance.

Government will allow start-ups to realize the value of their intellectual property rights (IPR) as early as possible and the patent applications of the start-ups will be checked soon for examination and disposal.

BoostMySale, Co-founder Priyanka Rungta too was present at the event. She has shared a blog on the same titled – ‘What Makes a StartUp Successful? Priyanka Rungta Shares Insights that She Gained from the StartUpIndia Event’.

On being asked about her take on the event, Priyanka Rungta said “We are all born champions, we are all born to win and it’s just remembering a few lessons along the way that pull us towards the eventual goal. Begin by building a culture of respect and dignity, and as Travis says, ‘Make Magic.’"
Akanksha Shetye
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