The rise of Startups in India and government’s initiative to boost it:

• Startup India is a flagship initiative of the Government of India,intended to build a strong eco-system for nurturing innovation andStartups in the country that will drive sustainable economic growthand generate large scale employment opportunities. The Government through this initiative aims to empower Startups to grow through innovation and design. 
• There is an attempt to create a single point of contact for the entire Startup ecosystem and enable knowledge exchange and access to funding. 
• There are attempts being made to promote awareness and adopt IPRs by Startups and facilitate them in protecting and commercializing the IPRs by providing access to high quality Intellectual Property services and resources, including fast-track examination of patent applications and rebate in fees. 
• The Insolvency and Bankruptcy Bill 2015 (“IBB”), 2015 has provisions for the fast track and / or voluntary closure of businesses. 
• In order to provide funding support to Startups, Government will set up a fund with an initial corpus of INR 2,500 crore and a total corpus of INR 10,000 crore over a period 4 years (i.e. INR 2,500 crore per year). 
• Atal Innovation Mission (AIM) is started to promote innovation and through Self-Employment and Talent Utilization (SETU). 
• The Government of India has also taken various measures to improve the ease of doing business and is building an enabling environment for the Startups, with the launch of the “Startup India” movement.