Interaction with Financial Institutes to Promote Start-Up

A startup is an entrepreneurial venture which is typically a newly emerged, fast-growing business that aims to meet a marketplace need by developing or offering an innovative product, process or service.Startups are a very important part of all economies, so governments seek to support innovative startups through different supporting programs and help them grow in the right way. This kind of support mainly goes through a network of institutions, whose important task is to assist startups in all their stages of operation. Supports by laws, policies and regulations are essential for this complex process. Policy makers need to recognize an opportunities for development and creating sustainable system for startups. The government should strive to recognize innovative startups and help them to grow.

Startup India is a flagship initiative of the Government of India, intended to build a strong eco-system for nurturing innovation and Startups in the country that will drive sustainable economic growth and generate large scale employment opportunities. The Government through this initiative aims to empower Startups to grow through innovation and design. The Indian government has introduced over 50+ startup schemes in past few years. Each startup scheme is missioned towards boosting the Indian startup ecosystem.

Interaction with financial institutes to promote start up is an important part of the Gramin Mitra Project. CSIR,New Delhi has come up with the new idea of encouraging setting up of Start-Up companies. To promote Start ups and commercially exploit technologies developed in its laboratories, country’s premier science institution CSIR has decided to start incubation centres in over 30 different labs across the country.Recently,CSIR,New Delhi has come up with an idea to promote startup by scientists working in different CSIR labs including CIMFR,Dhanbad to come up with fresh proposal  for the establishment of new start up companies.Any scientist working in these labs can propose for the new idea in their field and get grants and aid from the funds availiable to setup startup company subject to fulfilling terms and condition.

Gramin Mitra has also proactive role to play in setting up of startup company. Gramin Mitra acts as a facilitator for the new venture to start up in the business . The Banks or other financial Institues are encouraged to provide loans or finance to the new business proposals and Gramin Mitra acts as a facilitator for promoting business activities.Gramin Mitra helps find investors for the new startup  business company and encourage them to participate in business activity.

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