A Govt. has an important role to play in the development of
the startup ecosystem of a country. From hand holding to monetary support, a
lot of measures need to be taken by the regulators to encourage Entrepreneurship.
Let’s break up the startup process and I will try to give my
opinion as to what the Govt. can do in each step.
Idea Generation &
Team Formation: Workshops/Seminars/Events to encourage Entrepreneurship;
Incentivise Schools, Colleges etc. to set up Entrepreneurship Cells; Promote
setting up of Institutes teaching Entrepreneurship
Business Set Up &
Closure: Processes like setting up a company, getting licenses,
registrations etc. should be easy and fast. Also winding down procedures and
bankruptcy laws should be strengthened; The focus of the entrepreneur should be
solely on the business idea and execution.
Fundraising:
Ensure enough allocation of funds for Entrepreneurship; Grants to be given to
different Entrepreneurship Cells; Angel Investors/VCs to be incentivized with
tax breaks etc.
As
mentioned above as well, the Entrepreneur should be allowed to focus on
building on his/her idea. All support and hand holding around it should be made
as easy as possible. When an ecosystem such as this comes up, Entrepreneurship
& Business will flourish.
No comments:
Post a Comment
What do you have to say about this post?