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6 Things startups want from the Government Startup Policy

Prime Minister Modi’s policies have all been welcomed with high spirits and open arms. People are more than happy to adopt these policies for their own good. ‘Startup India’ has become a hot buzz among the Indian Startups and its entrepreneurs. They are helpful for the young and budding entrepreneurs to bring forward their ideas and innovation to help in the growth of their businesses and the economy equally. They still expect a lot more from the government’s side by the way of its initiatives.
Here are some of the things that startups want from the government’s startup policy:
1. Building Startup/Tech Hub
The startups want the government to build few startup hubs in India to ensure free flow of goods, services and capital in India without any restrictions. This involves easy visas, relief in taxation and easy incoming of international talent in the nation. This should make it easy to work in India and must repatriate income without taxes.
2. Ease of Regulatory Compliance
Startups find it more comfortable when detached from the government. They don’t want to work under bureaucratic regulations and want to operate on their own. When government is involved, there is more of bureaucracy than support. Startup India policy is expected to help in taking few positive steps and those need to come from the government.
3. Initiatives for Access to Seed Funding
India has enough entrepreneurship zeal but there aren’t enough funds available for the startups. The government must act as a facilitator for the upcoming startups. They need to give an access to seed funding and develop incubation centers for new ideas.
4. Availability for Infrastructure
Infrastructure is a major problem faced by most of the startups. They fail to get reasonable accommodation for their company and face a problem while setting up an office in any state. To encourage startups, state governments and center governments must make space available for the startups to operate for they help in development of an economy.
5. Enable to attract big VC funds
Startup India must enable the startups to attract big venture capital funds. If big VC funds enter the Indian Entrepreneurial Ecosystem which will enable them to fetch funds from the VCs. This will make it easier for the startups to raise huge amounts of funds.
6. Startups Smooth Approach Towards Governments
Government is the biggest buyer of goods and services and provides employment to huge mass of people. If government becomes a buyer for the startups, it will help them develop and the startups will get a boost.
This article has been contributed by Simmi Setia, Content Writer at LegalRaasta, an online portal for Section 8 Company Registration, Nidhi Company Registration, IEC Registration, Fssai License, File ITR Online, Copyright Registration, Patent Registration, Trademark Registration.

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