The Government Schemes and Opportunities for Startups in India

By : E. Bhaskaran

Page No: 154-172

Abstract:
The Government of India and concerned State Governments are implementing plenty of Programmes/Schemes for Startups like the Innovation Voucher Programme A and B for Sustainable Development Goals (SDG) on Entrepreneurship. Out of the 17 SDGs, Goal 8 relates to Decent Work and Economic Growth, and Goal 9 relates to Industry, Innovation, and Infrastructure. The objective of the research is to study 10 Steps to Become a Startup Entrepreneur and various schemes from the Government of Tamil Nadu such as the Innovation Voucher Programme and TANSEED for startups, and their relevance to Sustainable Development Goals. The study employs a secondary data analysis methodology focusing on data such as the Number of Startups and Grants Released to Startups. The secondary data is further analyzed using various business analysis techniques including descriptive statistics, correlation analysis, regression analysis, predictive modeling, prescriptive analytics, and decision analysis. Innovation and Entrepreneurship Development are the need of the hour, as it not only provides self-employment but also help to eradicate unemployment by creating more employment opportunities. The economic development of Tamil Nadu can be significantly enhanced if students and aspiring entrepreneurs adopt the “10 Steps to Becoming a Startup Entrepreneur” model. The Government of Tamil Nadu provides significant support, more than 39% of the total investment as assistance for a Startup/ entrepreneurs/promoters who are expected to contribute around 7%, and the remaining 54% will come from Bank credit in Tamil Nadu. Among the most effective government schemes available are the Innovation Voucher Programme (IVP) and the Tamil Nadu Startup Seed Grant Fund (TANSEED), providing financial grants to help startups launch and grow their ventures. To conclude, Startups/MSMEs/Entrepreneurs/Students are to be encouraged to leverage these government programmes on entrepreneurship to decrease the cost of investment and increase profit.

Author: 
E. Bhaskaran, Joint Director (Engineering)/General Manager, Department of Industries and Commerce, Government of Tamil Nadu,
 

DOI: https://doi.org/10.32381/PROD.2025.66.02.06