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INDIAN AFFAIRS
START UP INDIA: THIS IS THE BEGINNING OF BIG BANG START UP BOOM IN INDIA, SAYS SOFTBANK CEO
January 16, 2016
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1.Finance Minister Arun Jaitley on Saturday kick-started Prime Minister Narendra Modi’s ambitious Start-Up India mission at Vigyan Bhavan in New Delhi.

2.The Start Up India mission to be unveiled on Saturday envisages technology business incubators and research parks.

3.The Human Resource Development Ministry and the Department of Science and Technology have agreed to partner in an initiative to set up over 75 such startup support hubs in the National Institutes of Technology (NITs), the Indian Institutes of Information Technology (IIITs), the Indian Institutes of Science Education and Research (IISERs) and NIPERs or National Institutes of Pharmaceutical Education and Research.

In top gear

* With 4,200 startups, India ranks 3rd globally.

* Of $18 billion pumped into Indian startups between 2010-15, $9 billion came in 2015 alone.

* 9 Indian startups have been valued at more than a billion dollars.

* Increase in number of incubators: 80 in 2014, 110 in 2015; 50% outside Delhi, Bengaluru, Mumbai.