Greetings from PMI Bangalore India Chapter!
Many of Project/ Product Managers like us nurture the dream of starting something on our own, where we can plough back the business, technical and financial knowledge acquired by us during the course of our career. The dream to break free from working in some ‘other’ company to setup a “Startup” of our own and steer it in a way we would like, can provide a great sense of pride for us. To be in control of our Startup, that produces the desired business results, by delivering ‘value’ to our customers and stakeholders, can soak us with a strong sense of fulfilment.
If you are the one who want to live this dream, then it must be your moment of cheer. On January 16th 2016, our Honorable Prime Minister Narendra Modi kicked off the ambitious “Startup India” initiative to boost Digital Entrepreneurship at the grassroots level. He spelt out the various salient features of of the initiative on that day.
During his announcement, he said there will be income tax exemption to Startups for the initial years. He also promised faster patent registrations and quicker exits for companies. Norms will be relaxed for public procurement of Startups. No economy like ours can grow without domestic private investment. Recovery is possible in 2016 if stalled private corporate investment can be restarted – by way of growth in public investment and private consumption. Startup India can potentially be the catalyst to restart private investment flows into the economy. This initiative will remove unnecessary approvals thereby simplifying the process of registering a startup and investing in them. The government is creating an ecosystem for supporting young entrepreneurs through a formal network of incubators, accelerators and mentors that would help set up, grow and stabilize new businesses, with an emphasis on social enterprises and commercial adaptation of grass root level innovations.
In a recent report, Mckinsey Global Institute (MGI) Quarterly identified a dozen technologies, ranging from the mobile internet to cloud computing to advanced genomics. These technologies were categorized into three areas: digitizing life and work, smart physical systems, and energy technologies. Each of these technologies has the potential for rapid adoption in India between now and 2025. Hence if you are thinking about your Startup, then you can consider to get involved with these technologies that are bound to get the most attention from the recent government policy. Startups are increasingly becoming the destination for best talents of the country. As per one recent report, placements in Startups have accounted for 13% of the total number of students placed from IIT-Madras where as many as 65 Startups recruited and made 122 offers in more than 75 profiles. So if you are the one who loves technology and believe in following your heart and is intensely passionate about savoring the challenging assignments, managing your own capital funding and trying to feel a new “High” by starting your own Startup, then this might just be the right time for you.
Thanks and Best Wishes,
Soumen De, PMP
Murali Santhanam, PMP
Namita Gupta, PMP, PMI-ACP
Rama K., PMP, PMI-ACP
Shikha Vaidh, PMP, PMI-ACP
Sujata Sahu, PMP