Start Up India: The beginning of Big Bang for India, says Softbank’s Founder

New Delhi: The first session to kick start Startup India at 9:30 am will be ’21st Century Calling: Why is innovation important for India?’ which will be addressed by Finance Minster Arun Jaitley, Minister of State for Commerce and Industry Nirmala Sitharaman, Onno Ruhl, Country Director, World Bank and Krishnaswamy Vijay Raghavan, Secretary, Biotechnology.

The sessions following this will conducted by various start-ups and experts from India as well as international speaking about the start-up environment in India and the requirements to foster further growth.

The launch event is aimed at celebrating the entrepreneurship spirit of country’s youth, and will be attended by CEOs and founders of top start-ups from across the country and abroad.

The Prime Minister will visit a virtual exhibition and interact with start-up entrepreneurs. He will release the Start-up Action Plan, and address the gathering.

Prime Minister Modi’s arrival at the venue will be preceded by a day-long workshop on start-up entrepreneurship, which shall include panel discussions on various aspects of the subject.

11:15 AM
Masayoshi Son, Founder & CEO of the largest investors in start-ups in India, Softbank said that he sees a lot of new start-ups coming up in India.

When asked about what he sees when funding any start-up he said he looks at the leadership and the commitment and determination to the company.

10:40 AM
Finance Minister Arun Jaitley speaking at Start Up India said, “We ostensibly broke away from “license raj” in 1991, conceived with idea that Government will decide which businesses can run.”

He further said that the PM’s own idea was that start ups need to be encouraged. Both the banking system and government will make the resources available.

“Start-Up India will change conventions. Government will merely be a facilitator for start-ups,” said Jaitley.

He added, that they are fully conscious of the adverse situation in which they are struggling to keep respectable growth rates in Indian economy

“World universally recognises us as probably fastest growing amongst the major economies, but then we are not without our own challenges,” he said.

We can take a limited satisfaction, that even in a crisis like situation in the world, we are growing much faster-FM

“Our effort over last few years was to restrict role of States in policy domain”, he said.

He further added, “When PM Modi was voted to power, if I look back at the changes and the direction we have moved in, some of them are extremely significant.”

10:32 AM
Nirmala Sitharaman, Minister of State (MoS) for Commerce and Industry said, “We want start-ups to come to India, operate in India and stay in India. We as government have to see how best we can remove the clutter in doing business.”

She said, “Last year there has been a 50% increase in financing for start-ups in india”. There have also been several angel investors that have come forward to fund these start-ups.

She further added that the government is making it also easy for start-ups to exit.


Onno Ruhl, Country Director, World Bank said that India needs to create jobs in big way and innovation is the key. “We will support the government in any way possible. The potential is in the innovators,” said.

Posted by on January 16, 2016. Filed under Nation. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.