: Govt to hire consulting firm to promote Start up India globally #FinanceIndia #StockMarketNEWS Govt to hire consulting firm to promote Start up India globally New Delhi, Mar 19 (KNN) With a motive

@StockMarketNEWS Sat 21 Mar, 2020

Posted in: #FinanceIndia #StockMarketNEWS

Govt to hire consulting firm to promote Start up India globally #FinanceIndia #StockMarketNEWS
Govt to hire consulting firm to promote Start up India globally New Delhi, Mar 19 (KNN) With a motive to promote Indian startups globally, the government is planning to hire a consulting firm to evaluate the progress of the Startup India programme.

In this regard, the Department for Promotion of Industry and Internal Trade (DPIIT) has floated a notice inviting request for proposal (RFP) from interested agencies.

The department intend to on-board a consultancy organisation to provide support...for a period of three years, extendable one year at a time for a total duration of five years, to assist and support the department in effective and on ground implementation of Startup India Action Plan, DPIIT said its invitation letter.

The agency, will also support the department in scaling up the Startup India initiative through manifold interventions considered important for building a strong ecosystem.

The main objectives include handholding, supervising and monitoring implementation of recommendations for next three years; examining the need of current ecosystem; and provide short, medium and long-term suggestions for implementation by various agencies in consultation with various stake holders to scale up the initiative; and undertake the state startup ranking exercise every year by coordinating with states and other stake holders.

Launched in 2016, the Startup India programme has been credited as one of the major factors which have fuelled the country’s startup ecosystem. Under this programme, government registered startups receive numerous benefits such as tax exemptions, funding opportunities, etc.

The Startup India action plan provides tax and other incentives.

Since the launch of the initiative in 2016, a total of 28,979 startups have been recognized by DPIIT as on March.

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