Need to create conducive environment for young entrepreneurs: Suresh Prabhu

New Delhi, Feb 9 (UNI) Commerce and Industry Minister Suresh Prabhu on Saturday said there was a need to create a conducive environment for the young entrepreneurs of the country and bring changes in old regulations modified according to the advancing technology.

Mr Prabhu said he had a chat with the startups from Maharashtra and regulators.

‘Had a fireside chat with the startups from Maharashtra & regulators on one platform. As entrepreneurship blooms, we need to create a conducive environment for our young entrepreneurs and bring changes in old regulations to catch up with technological changes,’ he said on micro-blogging site Twitter.

Finalists of the Maharashtra Startup week got an opportunity to interact with the minister.

Mr Prabhu launched two schemes — Hirkani Maharashtrachi and District Business Plan Competition in Mumbai. A provision of District Innovation Fund will give wings to ideas under the District Business Plan Competition. The scheme aims at encouraging entrepreneurship at the district level and providing a platform to budding entrepreneurs.

‘I am glad to launch two ambitious schemes – Hirkani Maharashtrachi & District Business Plan Competition, developed to encourage and support young entrepreneurs and innovators by the Ministry of Skill Development & Entrepreneurship and Govt of India ,’ he said in another tweet.

Challenges faced by early stage startups and government initiatives addressing these challenges were discussed during the event.

In recognition of a comprehensive policy and a dedicated society, Maharashtra has been acknowledged as an “Emerging State” in developing the Startup ecosystem.

Launched on January 16, 2016 by Prime Minister Narendra Modi, Startup India, set-up under Invest India, is a flagship initiative of the Government of India and is intended to build a strong eco-system for nurturing innovation & Startups in the country that will drive sustainable economic growth and generate large scale employment opportunities.

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