November, 2016, saw the rolling out of the National Student Startup Policy. It sure promises a lot of goodies. Let us discuss the same in detail.
What are the key features?
- The objective to create 1,00,000 student tech-start-ups and new employment opportunities to the tune of 1 Million by the year 2025.
- The policy stems from the Government’s initiative ‘Start-up India’.
- The policy dictates the AICTE approved institutions to include up to 40% skill building programs and 30% knowledge-building courses. And interestingly, the remaining 30% courses will focus on attitude development.
- The objective to start a fund to finance start-up events that will be organized at national/international levels.
- Up to Rs.10,000 crores worth of investment will be pushed via venture funds registered with SEBI.
- The objective to develop better infrastructural facilities geared at the technology sector, which desperately needs it. Up to Rs. 20 crores will be provided to students for the cause.
- The objective emphasizes support to rural areas’ students in need of training in administration and idea-generation.
Does it benefit your startup?
If you wish to form a startup while you are in college, this can pretty much be the best time for you to hop on the wagon. You are likely to get the following benefits anyway:
- A much-needed curriculum change which takes the focus away from rote learning and stresses creativity.
- Start up fests in colleges to help you interact with like-minded people to exchange ideas and expand your learning.
- A special seminar for idea generation.
- Guidance for rural students.
India is in a demographic boom right now. It is home to a pool of a majoritarians young workforce. Charged with countless ideas and potential, the startup trend can be the next big thing the country’s growth, and a better satisfaction level for the workforce.