The Madhya Pradesh Incubation and Startup Policy 2016 was formulated to align the state with the Centre’s Startup India initiative and intends to offer incentives to the state’s startups and incubators in addition to those provided by the central government.
He added that the government in India is working towards improving the business environment in the country and the decision to cut corporate tax is a “positive message” in this direction. He also noted that Indian youth is the largest user of the app economy, stating that India will soon overtake other nations to become the world’s largest app user economy.
As the fastest growing economy, India provides significant challenges across industries and society, which emerge as opportunities that start-ups today identify and fulfil. The variety of use-cases which these opportunities offer help start-ups develop robust solutions iteratively with the option to adapt to any global economy. In an interaction with Poulami Chakraborty of BW SmartCitiesWorld, Avnish Sabhrawal, Managing Director, Accenture Ventures and Open Innovation reveals, how the combining effects of new technologies is causing a major disruption of start-up industry. Excerpts below: