Government Schemes for Entrepreneurs

The Government of India has undertaken several initiatives, policies and schemes to promote a culture of innovation and entrepreneurship in the country. These aim to tap into the potential of the citizens and innovate, raise entrepreneurs and create jobs.

A few of India’s efforts at promoting entrepreneurship and innovation are:

  1.  Startup India: Headed by the Department of Industrial Policy & Promotion (DIPP), Startup India promotes entrepreneurship by mentoring and nurturing start-ups. Their aim is to build a network and an environment where start-ups can grow, through provision of start-up learning programs, smoother patent filing, funding programs, tax benefits, and setting up incubators, research parks, as well as start-up centres in cities across the country. They provide funding support through a “Fund of Funds” amounting to INR 10,000 crores.
  2. Atal Innovation Mission (AIM): Established within the National Institution for Transforming India (NITI), AIM is a platform for the promotion of innovation hubs, challenges, start-up businesses and other self-employment activities, particularly in technology driven areas. AIM provides incubation facilities, Atal Incubation Centres (AICs), in order to build start-ups into sustainable enterprises. These AICs provide access to experts, seed capital, mentors and trainings to nurture start-ups. AIM will provide a grant-in-aid of INR 10Cr to each AIC for a maximum of five years, after which they are expected to become self sustainable. 
  3. Technology Business Incubators(TBI): An institutional mechanism under the NSTEDB- National Science and Technology Entrepreneurship Development Board, aiming to foster entrepreneurial spirit, facilitate technological enterprises and commercialize tech related R&D. They provide mentorship, training, business planning support and specialized services to tech based start-ups. The TBIs are funded for 5 years and then are encouraged to become independent.
  4. Innovation and Entrepreneurship Development Centre (IEDC): Another mechanism under the NSTEDB, seeking to encourage tech based start-ups by promoting innovation in students. They provide suitable mentorship, opportunities for growth through projects, competitions and interactive sessions with professionals. They also aim to facilitate E-cells in colleges to improve student involvement in the start-up world. Moreover, they provide a limited, non recurring financial assistance, up to maximum of INR 25 Lakhs.
  5. National Institute for Entrepreneurship and Small Business Development: NIESBUD is an organisation engaged in training, consultancy, research and cluster interventions in order to promote entrepreneurship. They set up activities for promoters, trainers, and entrepreneurs and accelerate entrepreneurial development and business management. They also provide a national/international forum for exchange of ideas & expressions.
  6. SIDBI Innovation & Incubation Centre (SIIC) at IIT Kanpur: This was set up in collaboration with Small Industries Development Bank of India (SIDBI) which is an apex bank to provide financial assistance under different schemes, to meet credit needs of small entrepreneurs or business organizations. It offers incubation facilities and services to prospective entrepreneurs and encourages them to convert their ideas into commercially viable products. They have a thriving ecosystem, with eight incubation centres, mentor and funding support, and student run e-cells, which provide networking opportunities.

The start-up culture is now gaining popularity in the country. With the government showing support and encouraging innovation with these start-up centric schemes and initiatives, the start-up ecosystem is expected to thrive like never before. 

BY 

SHALEEN AHUJA

                       

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Entrepreneur of the Month – Serguei Beloussov

Every month, a new entrepreneur, a new inspiration

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To boost up your knowledge we are here with the next release of our new series- Entrepreneur Of The Month, this month we have the Russian-born Singaporean who built a billion dollar IT empire,  Serguei Beloussov, CEO and chairman of the board of Acronis,  the co-founder, a global data protection company and is the senior founding partner of Runa Capital, a technology investment firm, among other business ventures.

 

In The News !

In May 2013, Beloussov returned as chief executive officer of Acronis, the data protection company he co-founded and had left in 2008 after disputes between management and promoters. Since then he has been trying to grow the company to a couple of billion dollars in revenue, from a couple of hundred million right now—target is a ten-fold growth in revenue.  To fulfil that purpose, Acronis, a global leader in data protection, has opened an R&D centre in Singapore and is looking to invest more than 55 million dollars over the next five years in the innovation activities. Research scope of the centre, to host 120-150 engineers, will include efficient data storage and processing, optimised data transfer protocols, data security and mobile data protection.

 

Know thy Entrepreneur

Serguei Beloussov, is a man used to getting his way and with little patience for tardiness, but willing to accommodate other opinions too. Certainly the first part explains why, in 2013, he returned to take back the reins of the company he had founded in 2001 and which he had effectively – in terms of managing the company at least – left in 2007. For Beloussov, that future is the cloud. He and his partners founded Acronis in 2001 in Singapore as a business unit within SWsoft, a server automation and virtualisation software company and the parent company of Parallels Inc, which Beloussov also founded.  he wants Acronis to become a billion-dollar company. More than once, at the Malaysian launch, the Russian-born entrepreneur emphasised that he is now a Singaporean citizen.

He remains a senior partner at Runa Capital venture fund, which amongst other areas, has invested in companies developing teleportation technologies, and executive chairman of Parallels. Before returning to Acronis, he had also cofounded Qwave Capital venture fund, created to support advanced quantum technologies.

By Simmy Singh

Autographs of Famous Entrepreneurs | Social Media

Signature is also a little piece of art that reflects your creativity and uniqueness and well there’s no doubt that most innovative minds are those people who founded, developed and now lead the Social Media platforms! So let’s see what does their signatures mean.

 The Social Media

Jack Dorsey, Twitter’s CEO, has a signature which is not his official business signature. The fully legible letters reveal his open straightforward approach to communication, and the lack of surname demonstrates his relaxed nature.

The great minds of top social networking platform has there own uniqueness, specially Mark Zuckerberg, ironically for the CEO of Facebook, his initial-based signature suggests highly private person. However, each letter is capitalized, revealing reams of confidence and a healthy sense of self-esteem.

Now let’s move to the personalities who focuses on the ‘Broader Picture’, Kevin Systrom (Instagram). The large capital letters dominate Kevin’s signature, and betrayer hint of arrogance. The missing dot over the letter ‘i’ reveals that Kevin prefers to look at a broader picture rather than focusing on minute details.

And in the end to complete the streak we have, Reid Hoffman ( LinkedIn), the extreme upward slant of Reid’s signature demonstrates a fierce ambition, and a tendency to plan for the future. The slashed dot over the ‘i’ betrays his impatient nature, and suggest his spends much of this time on the go.

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We hope you liked our series of Autographs of Famous Entrepreneurs! Leave a suggestion and do let us know if you want us to cover any topic!

Author: Simmy Singh

Autographs of Famous Entrepreneur | Women Power

The second blog of our series is dedicated to four women who made their name in industry by reaching the top of the Ladder!

The Women Power

Ginni Rometty CEO of IBM, the flamboyant first letter of Ginni’s signature suggest that she strikes to make a presence felt in the boardroom. The open topped ‘o’ demonstrates collaborative nature, and a desire to share ideas with others.

Same goes for the next female lead, Ursula Burns (Xerox), there is no noticeable slope to Ursala’s signature, indicating she takes a balanced approach to business. The pronounce capitals demonstrate confidence, and the legibility shows she is straightforward to work with.

The next Women on the list is, Safra Ctaz (Oracle), her signature is particularly distinctive, with large, swooping letters, and pronounced capitals. This reveals confidence, and extroverted nature. Each letter is easy to read, suggesting she is an open straightforward person.

For Meg Whitman CEO and Director of HP, the striking line at the end of her signature demonstrates her drive and determination. Although her first name is perfectly legible, the surname is scrawled- showing she takes great pride in her personal accomplishments.

Next Blog of the same series will be released tonight! Stay Tuned!

Author: Simmy Singh

Autographs of famous Entrepreneurs and meaning behind it | The Legends

Everyone has a unique signature, your signature is central to your identity. It shows how you want the world to perceive you. By analysing signature we can tell a lot about someone’s personality. We start our blog series with few Legend of industry.

The Legends

The Ex- CEO and the person due to which Apple became the brand it is now, Steve Job. The sharp lines and slashed ‘i’-dot of Steve Jobs’ signature betray his impatient and aggressive nature. The upwards slant reveals a sense of ambition and a tendency to look towards the future.

People generally use their name as their signature but the next personality, Steve Wozniak uses his nickname as his sign. This reveals an independent streak and confidence in his own abilities. This abundance of self-esteem can also be seen in the large ‘W’, and slanting letters.

On contrast with conservative nature we have Larry Page (Google), the first ‘a’ is open at the top, suggesting he enjoy sharing his thoughts with others the last capitals reveals a strong sense of self worth and the street alignment suggest he takes balance approach to work.

 

The founder of Microsoft, Bill Gates is an open and straightforward person, and his easy-to-read signature reflects this. Although the large capitals suggest confidence, the rest of the letters a balanced. This shows that despite his riches, he is very modest.

The personalities who have LARGE capitals share similar interests, same goes for the people with rushed writing.

Michael Dell (Dell), his signature is perfectly straight. This, teamed with the carefully-placed dot over the letter ‘i’, reveals a precise and meticulous attention to detail.

 

Next Blog of the same series will be released today! Stay Tuned!

Author: Simmy Singh

Entrepreneur of the Month | Elon Musk

Every month, a new entrepreneur, a new inspiration

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As we celebrate kicking off this new series – Entrepreneur of the Month in the Global Entrepreneurship Week, so this first post is dedicated to Elon Musk. As most of you know he is the CEO of Tesla, founder of X.com (which later evolved into PayPal) and the space transport venture, Space Exploration Technologies or SpaceX for short. What you don’t know is that he is involved in some pretty interesting stuff.    

 

In The News!

First of all, if you think you had a busy month just look at what Elon Musk has been upto. Only he can take a bet of installing 100 to 300 Mwatts hours batteries in Southern Australia within 100 days. Tesla is now on overdrive trying to deliver on that promise. If that’s not enough, how about a clash between two tech titans, the other being Mark Zuckerberg, over Artificial Intelligence. Elon Musk once again got involved in the AI debate when he called on UN to ban lethal autonomous weapons along with several other leaders in the field of AI. Recently Musk unveiled plans that SpaceX is building a rocket called BFR that could help you travel anywhere in the world in under 30 minutes and anywhere else under an hour, all for the cost of an economy seat on a current airline. The days when you booked a plane are going to be over if Musk achieves this goal. BFR, by the way, is short for Big F–king Rocket.

Know thy Entrepreneur

Elon Musk started his first company Zip2, a web software company that developed an Internet “city guide”. He moved on from there to pursue entrepreneurial aspirations in the areas of the Internet, renewable energy and outer space. Musk hasn’t stopped there, he envisioned Hyperloop, a high speed transportation system, co-founded Neuralink and created OpenAI for development in the field of AI.

He has even started working on traffic problems that plague our cities, by building a tunnel boring machine with the help of which an extensive network of underground tunnels will be created. Thus came the name of his latest venture – The Boring Company. Closely follow Musk to know what he is upto now.

Written By: Ananay Sharma

Team Building: You can’t go wrong here

This is the post excerpt.

Building effective teams is a common challenge for most entrepreneurs. How do you assemble the right mix of people and expertise to deliver the most efficient and effective outcome. Sometimes, the things business owners believe matter most aren’t really priorities in building great teams. So here we are thinking ….?

-What is a Team ?

-What factors makes a team successful ?

-Why do teams fail ?

-What makes a good leader and a follower ?