National Startup Day 2022 Essay (Date) importance

National Startup Day 2022 (date, celebration, essay)

The Prime minister of India has declared that from now 16 January would be celebrated as National Startup Day. Emphasizing the significance of start-ups, PM called start-ups the backbone of New India. As we know, in order to develop and prosper the economic process of the country, the well-being of start-ups is very crucial. So let us go through the article to understand the significance of start-ups and the newly made announcement regarding the National Startup Day.

National Startup Day

PM Modi on 15 January 2022 had an interaction with more than a hundred fifty startups from different sectors. By highlighting the importance of start-ups,  PM called these the backbone of the nation. The interaction also conveyed the government efforts’ regarding the well-being of startups. 

The year 2022 is going to be a promising year for the ecosystem of Indian startups.

In India, there is one startup in at least 625 districts. This data shows how the common class of people is taking care of innovative ideas by leaving the conventional means of employment generation behind.

Last year India generated 42 unicorns. The significant improvement of India in the Global Innovation Index tells the positive side of the story. If we talk about India’s ranking in Global Innovation Index back in 2015 it was 81. But now India holds 46th rank.

The PM urged young entrepreneurs to innovate for India. By calling this decade as ‘techade’ of India, PM reiterated on making dreams ‘global’. It was also said that start-ups should focus on building rural India too.

Why are start-ups crucial?

  • Startups play an important role in making the economic process smooth. These help in identifying the market gap.
  • An ecosystem of start-ups helps people to think ‘out of the box’.
  • It can be a reliable means of employment generation in a long run.
  • Start-ups dish out the healthy competition in the economy. 
  • Start-ups provide innovative minds platforms to implement something different from the status quo.

Important Government Schemes for Start-ups

  • Pradhan Mantri Mudra Yojana
  • Credit Linked Capital Subsidy for Technology Upgradation
  • Financial Support to MSMEs in ZED Certification Scheme
  • Design Clinic for Design Expertise to MSMEs

FAQs

When do we celebrate National Startup Day?

16 January.

Who declared it?

PM of India.

What is the current ranking in Global Innovation Index?

46.

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