Question

Explain the following term/concept:-

Start-ups

Explain the following term/concept in detail.

Startup India

Answer 1

Start-up India is an initiative of the Government of India. It was launched in 2016. It aims at building an ecosystem that will nurture start-ups in the country. So that, sustainable economic growth and large-scale employment opportunities can the generated. A start-up is defined as an entity having its headquarters in India, which was opened less than 10 years ago, and has an annual turnover of less than ₹100 crores. Under this initiative, the government has already launched the I:MADE program. to help Indian entrepreneurs to build 10 lakh mobile app start-ups. The MUDRA Bank's scheme (Pradhanmantri Mudra Yojana) is an initiative by Indian Government that aims to provide micro-finance, low-interest rate loans to entrepreneurs from low socio-economic backgrounds.