dna spoke to some automobile-based start-ups in India about their expectations from Modi's action plan for the sector.
The government is scheduled to meet members of the start-up industries, including Masayoshi Son and Nikesh Arora from Softbank, Kunal Bahl from Snapdeal, and more, on Saturday, to discuss the start-up India agenda.
Prime Minister Narendra Modi, in a concluding session, will interact with the industry players and launch the start-up action plan.
This is what automobile-based start-ups are expecting from the government's start-up action plan.
Jugnoo
"I see an immense potential for entrepreneurship in India. With a supporting Start Up action plan, youngsters will be more open to join the start-up ecosystem and contribute in its growth, Samar singla, CEO and Founder Jugnoo, online aggregator for auto-rickshaws backed by Paytm told dna.
"With all the buzz coming in, this campaign will showcase India as the hub for innovation and technology at a global level. We expect a positive change in regulatory norms," Singla said.
MyTaxiIndia.com
Anshuman Mihir & Mohit Rajpal Founders told dna, "'We look forward to an upgraded taxation regime for incubators, including rendering them exempted from taxes as well as the easy and smooth FDI policies to encourage start-ups."
"Funds contributed to incubators should be treated at par with investments in R&D activities for business," they added.
MyTaxiIndia.com operates over 4,000 taxis in 102 cities.
Autoload - Online truck aggregator
Autoload, a digital market place for the trucking industry, told dna, "'Start up India, Stand up India' campaign will surely lead to more job creation."
He said, "Entrepreneurship at fundamental level starts with -- Wouldn't it be great if we had this. Why it so difficult to do this."
"Encouraging entrepreneurs to take on challenges is what Start up India and Stand Up India should be all about," Navin Gupta, Director and Co-founder, Autoload said.
CredR – Online platform to get easy loans on used bikes
Founder CredR said, Sumit Chhazed, Co-Founder told dna he expects the new policy to be a step forward from the government to encourage and empower young entrepreneurs by simplifying regulations and compliance that are a pre-requisite to setup start-ups." The government should make paperwork, permissions and processes faster, which will help accentuate the funding opportunities for deserving entrepreneurial ideas," he added.
The government should also conduct workshops to encourage budding entrepreneurs; this will help generate product innovation ideas, create new markets and build a strategic approach to mitigate critical pain points, he said.
"The government should also establish a start-up village in every state. This 'village' can function as an incubation hub for aspiring entrepreneurs, and should have the desired infrastructure, resources, network, funds, guidance and support to foster new startup ventures."
"Special attention and support should be given to rural entrepreneurs by helping them overcome shortcomings like know-how about different marketing channels, finance, training and experience, technological development to cope with urban competition.”
Bumper - Bangalore-based start-up in in-car care segment
We expect the government to relax taxation norms and other hurdles to make it easy for someone to set up a company, Ashis Nayak, co-founder, Bumper told dna.
Currently, "it's the same for all levels of businesses".
The start-up action plan will help setting up of more product and manufacturing-based start-ups in India, Nayak said.
"India is considered to be a service software hub. The action plan should help change the mindset of investors, and with investments flowing in, we can expect quality product companies to emerge from India."
If the scheme is implemented well, government curated funding will be a new phenomenon in the space. Easy availability of foreign capital is another big ticket action point of the programme."
CarZippi - Bangalore-based in-car care start-up
Suman Howlader, CEO & Founder of CarZippi told dna, "a friendly taxation scheme such as creating tax slabs or tax holiday for initial days and introducing time- and amount-bound rebates will help start-ups survive though the initial hard times.
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