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India will celebrate January 16 as ‘National Startup Day’

Lately, the startup ecosystem in India has been leveraged by the public administration by encouraging numerous high-potential ventures to be set up across the country.

Through a virtual interaction with more than 150 startup founders in the country at Startup India Innovation Week, Prime Minister Narendra Modi made an official declaration to celebrate the 16th of January as National Startup Day. This initiative is taken to promote the startup culture in the country and provide aspiring entrepreneurs with a clear sense of direction. 

During the virtual interaction held on Saturday, 150+ startup founders were divided into six working groups for giving presentations to the Prime Minister regarding the following six themes:

  • Growing from roots
  • Nudging the DNA
  • From local to global
  • Technology to future
  • Building champions in manufacturing
  • Sustainable development

As the freedom of independent India enters its centenary year, PM Narendra Modi stressed that the organization of the Startup India Innovation Week is no less than an auspicious occasion. He emphasized that the role of startups is critical in the current phase of the country. 

PM Modi made an announcement saying, “I congratulate all the startups of the country and all the innovative youth who are raising the flag of India in the world of startups. For this culture of startups to reach the far-flung parts of the country, it has been decided to celebrate January 16 as National Startup Day.”

The Prime Minister also made an announcement that the Indian startups are currently working with 55 different industries. He also acknowledged that the number of startups has increased from 600 in 2016 to a whopping 60,000 today. He added, “Our startups are changing the rules of the game. That’s why I believe startups are going to be the backbone of new India.”

Acknowledging the fact that the country witnessed the growth and evolution of 42 unicorns, PM Modi said that these companies being valued in thousands of crores are the proof of the nation’s self-reliance and self-confidence. 

During the interaction, the Prime Minister also recalled that the current decade is the ‘techade’ of India. He talked about the three most important aspects regarding the changes being made by the Government for leveraging entrepreneurship, innovation, and a healthy startup ecosystem. 

The first aspect discussed by the PM was about liberating entrepreneurship and innovation in the country from government processes and a web of bureaucratic silos. Secondly, he emphasized creating an institutional mechanism for promoting innovation within the country. Finally, he discussed the importance of hand-holding of young Indian innovators and young enterprises across the country. The Prime Minister said, “Today, India is rapidly moving towards hitting the century of unicorns. I believe the golden era of India’s startups is starting now.”

PM Modi also discussed the importance of empowering the spirit of entrepreneurship to address the issues related to developmental and regional-gender disparities. He further acknowledged that there is at least one startup in each of the 625 districts of the country and more than half of the startups hail from Tier II and Tier III cities. He said, “These are converting ideas from ordinary and poor families into businesses, and lakhs of young Indians are getting employment.”

The Prime Minister also said that the rich diversity of India has always played a key role in giving the country its global identity. He recognized Indian unicorns and startups as the messengers of this diversity that can make India capable of competing with other countries in the world. 

Talking about the future prospects, the Prime Minister said that only half of the Indian population is online as of now and the future possibilities in the digital domain are massive. In order to ensure the holistic development of the country, he appealed to the startups to move towards the villages of India as well. 

Concluding the session filled with talks of growth and innovation, PM Narendra Modi said, “I stand with you; the Government is with you and the entire country is standing with you!”

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