BENGALURU: To modify the startup state in India, special hiring norms are being introduced in the country to let failed startups make get a scope once more.

Incentives so that women entrepreneur’s get a better scope is being sketched. Access and procurement of capital are being made easily accessible for them. An overall regulation is being chalked out to make the process of launch, run and close a startup in India, a flexible and easier process.

Joint secretary in the ministry of skill development and entrepreneurship, Jyotsna Sitlin said "It is critical that there is some flexibility for startups in hiring and retaining employees during their first three or five years of operations. We are also pursuing easier exit for enterprises that fail to take off in their first three years of operations.”

She further added "We want to promote a rescue culture by revisiting bankruptcy rules as well as provide advisory services to ventures that are struggling to take off. Incentives for angel funding and venture capital units in the quasipublic sector to bring in equity funds are also on the cards."

To make the PM’s statement of 'Start Up India, Stand Up India' come true, the government is soon to allot a unique entrepreneurship number (UEN) that can be accessed for various statutory registrations and report compliance with tax and labour laws. To make business of startup easier, a composite form is being made that will approve all statutory glitch and bars.

On this Sitling added, "We will encourage states to set up single-window systems as well and set up a National Entrepreneurship Hub that would integrate the entrepreneurship initiatives of different ministries and private partners."

Regarding women entrepreneurship Sitling said, "Women can make a big impact in the economy, so we are looking at a slew of steps to help them start up, such as making incubators and accelerators gender-neutral, facilitating access to capital and changing public procurement norms to help such enterprises."

To add a new approach to the existing entrepreneurship pattern in the country, the government is making a blend of online and experiential learning via introduction of online courses. Sibling said, "We will be starting entrepreneurship courses in 3,000 colleges, which are located around 325 industrial clusters with 50 nodal entrepreneurship hubs (e-hubs) over the next five years."

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