National Startup Day observed on January 16

Highlights:

  • Every year the National Startup Day is celebrated on January 16.
  • PM Modi has announced that Startups are the backbone of India. 
  • This is why it is essential to celebrate the day. 
  • Also India is celebrating Startup India Innovation Week between January 10, 2022 and January 16, 2022. 
  • The week celebrations are organized by Department of Promotion Industry and Industrial Trade. 
  • This is the first time, India is celebrating the day.
  • In 2022, the National Startup Day is celebrated on six themes. 
  • They are sustainable development, technology of future, from local to global, building champions in manufacturing, nudging the DNA and growing from roots.
  • The National Startup Day, 2022 focused on data collection mechanism in agriculture, healthcare through use of technology, creating agricultural business hubs, tackling issues related to mental health, improving health care related technologies, space sector and job identification.
  • In 2013, only four thousand patents were approved. 
  • However, in 2020-21, more than 28,000 patents have been registered. In 2013-14, 70,000 trademarks were registered. 
  • However, in 2020-21 more than 2.5 lakh trademarks were registered.
  • Areas where Startups play major role in the country
  • Defence manufacturing, EV charging, infrastructure, chip manufacturing and drone sector. 
  • The new drone policy of Indian Government focuses on defence startups. 
  • The Indian Army, Navy and Air Force have placed five hundred crore rupees worth order to the drone startups.
Role of Government of India:
  • The Government of India had introduced Standup India, Startup India and Make in India to encourage the young and new entrepreneurs. 
  • The Government of India solved the issues around Angel Tax. Also, the tax procedures have been simplified. GoI now allows self-certification and has removed more than 25,000 compliances.
  • Challenges faced by Startups in India
  • Lack of availability of financial resources. Lack of access to supporting infrastructure. Regulations related to intellectual property rights, labour laws and dispute resolution.