Discuss major measures needed to build a strong ecosystem for nurturing innovation and startups in the drive sustainable economic growth and generate large scale employment opportunities?

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measures needed to build a strong ecosystem for nurturing innovation and startups in the country to drive sustainable economic growth and generate large scale employment opportunities. The council shall, inter alia, suggest measures to:

  1. Foster a culture of innovation amongst citizens and students in particular;
  2. Promote innovation in all sectors of economy across the country, including semi-urban and rural areas;
  3. Support creative and  innovative ideas through incubation and research and development to transform them into valuable products, processes or solutions to improve productivity and efficiency;
  4. Create an environment of absorption of innovation in industry;
  5. Facilitate public organizations to assimilate innovation with a view to improving public service delivery;
  6. Promote creation, protection and commercialization of intellectual property rights;
  7. Make it easier to start, operate, grow and exit businesses by reducing regulatory compliances and costs;
  8. Promote ease of access to capital for startups;
  9. Incentivize domestic capital for investments into startups;
  10. Mobilize global capital for investments in Indian startups;
  11. Keep control of startups with original promoters.
  12. Provide access to global markets for Indian startups.

 

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