UK invites investors for start up


Presiding over the Plenary Session on Entrepreneurship Development and Start-Ups during the second session of the Investors Summit, Finance & Parliamentary Affairs Minister Prakash Pant has said that in order to move forward in the field of Start-Up, state has formulated 2018 Start-Up policy under which opportunity is being provided to youths of the state. Under the policy, new entrepreneurs are being provided capital subsidy, electricity concessions and other facilities for setting up Start-Ups. Applicants can register with the help of online portal while sitting at home. Entrepreneurs working in the field of Start-Up will be assisted by the Uttarakhand PHD Chambers of Commerce and Industry. The government is making efforts to establish industrial estate in every district of the state. The creative and innovation ideas and thinking of new talent of the state will be fully supported.

Director General/Commissioner Industries Shmt. Soujanya said that the Start-Up plan is under the state flagship programme. A special initiative has been taken by the government for this. A Start-Up Yatra was taken for awareness of the people about the plan. Several types of concessions are being given to increase the entrepreneurship and self-employment among the youth. General youth, who will start the Start-Up will get Rs 10,000 rupees per month for one year, while the youth of the hill areas, SC, ST and women will get Rs 15,000 per month. Industries established under the Start-Up will get a rebate for three years in SGST. Marketing of the product is also included in the plan. Under the Start-Up Policy, any youth from the state can start an industry based on his idea. The start-up plan has made the lives of people easier and to ensure that more and more people can get the benefit of the scheme, from time to time, the policy will also be amended.

The panelist members from the PHD Chamber of Commerce and Industry gave their suggestions for successful implementation of the Start-Up scheme in the state. They said that by starting Start-Up, it can be either success or failure but with firm determination, entrepreneurs should continue with their work. Failure is a part of life and failures also helps learn a lot. Regarding the icon like Oyo, Flipcart, they said that all companies had failed at many stages before their success but in the end, today they are among the best known companies in the country. Our goal is to establish 100 Unicorn by 2025 and the participants from this Summit are expected that some Unicorns should come from Uttarakhand. On this occasion, the panelists also gave answers to the queries of participants present.

On this occasion, PHD Chamber Chairman Virendra Kalra, founder of T-Hub Shrinivas Kollipara, President and Founder of Venture Capitalist Dr. Apoorva Ranjan, Vice President of PayTM Saurabh Jain, Investment Bank Ashish Aggrawal, Anshuman Khanna and others were present.

Verendra Kalra Co Chairman Uttarakhand State Chapter said that in view of an important role that PHD Chamber is committed to play along with govt. in the development of Startup and entrepreneurship ecosystem in the state, PHD Chamber Start Up Task force is focused on creating Unicorn stories from Uttarakhand.

Soujanay, MD SIIDCUL and Commissioner Industry highlighted the unique features of the Uttarakhand Start-Up Policy. She invited all of the present investors and other stake holders to take a cognizance of the Start Up Eco system opportunities in the state and will motivate them to engage in this sector with enthusiasm.

Srinivas Kollipara the founder of T-Hub which is India’s largest Incubator shared his thoughts on immense possibilities high literacy state of Uttarakhand offers for the Start Ups. He stated that cultural orientation is the 1st thing that is needed to be done in the environment which is new to start up. Dr Apoorva Ranjan Sharma President & Founder of Venture Catalyst – India’s 1st Integrated Incubator expressed that the great aspirations of the youth of tier II & III cities is the most promising opportunity for the nation, as he experienced in Surat, Kanpur, Lucknow and Ahemdabad. Anshuman Khanna the Principal Investments with IVY Cap Ventures expressed that money is not at all an issue for a innovative and enterprising candidate. He stated that failure for a stratup is a stepping stone and an opportunity to start fresh from past learning. Saurabh Jain shared the grand Indian success story of Paytm. He also talked about Paytm build for Indis mission focused on a million enterprises to address at least a million problems. Ashish Agarwal chairman Start Up PHD Chamber who is also a investment banker stated that start ups need to establish partnerships with corporate and funding agencies.

Uttarakhand State Chapter of PHD Chamber on this occasion launched the PHD Chamber Uttarakhand Angel’s Network with a base of 100 Angel investors.

Anil Taneja while launching the Angel’s Club stated that this network is an extension of various Angels networks at national & regional level of organizations partnering with PHD Chamber. Venture Catalyst which incubated OYO Rooms and many more since 2002 is one lead partner of PHD Chamber in Uttarakhand.


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