ASSAM · 2020. 9. 11. · Assam has been evaluated on 7 distinct pillars which largely contribute...

ASSAM EMERGING STARTUP ECOSYSTEM

STATES’ STARTUP RANKING 2019

ASSAM | EMERGING STARTUP ECOSYSTEM2

Table of

Contents

1. Overview of State Startup Ecosystem ...................05

2. Snapshot of State Performance ..............................06

3. Pillar Wise Assessment ...............................................07

3.1. Institutional Support ..............................................................07

3.2. Simplifying Regulations .....................................................10

3.3. Easing Public Procurement ............................................12

3.4. Incubation Support ................................................................13

3.5. Seed Funding Support ........................................................15

3.6. Venture Funding Support ................................................17

3.7. Awareness and Outreach ...............................................18

5ASSAM | EMERGING STARTUP ECOSYSTEM

OVERVIEW OF STATE STARTUP ECOSYSTEM

Aimed at transforming the economic landscape of the state, the Government of Assam launched a startup policy in 2017, a policy that envisions to make the state one of the leading startup hubs in the country. Assam aims to make this change by tapping the potential of its people to create a culture of entrepreneurship and for this, the state would provide all relevant support to potential young entrepreneurs.

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SOME OF THE KEY OBJECTIVES OF THE STATE STARTUP POLICY:

THE KEY PILLARS OF THE STARTUP ECOSYSTEM OF ASSAM ARE:

Facilitate at least 1,000 new startups across all

sectors over the next five years (2017 to 2022)

Attract funding opportunities of USD 250 million for state-based

startups and incubators

10,000 STARTUPS

USD 250MILLION

OWNED INCUBATORS

Establish state owned incubators

100,000 OPPORTUNITIES

Create 100,000 direct and indirect employment opportunities over the

next five years

DIGITAL STARTUP ECO SYSTEM Focus on constituting a digital environment for the state ecosystem to ensure easy access to infrastructure, incentives and connect various components of the startup ecosystem. Key highlights here include:• Startup Portal, Mobile App & Helpline• My Assam Start up ID (MASI)• Focus on ‘Ease of Doing Business’ (EoDB)

ACADEMIC INTERVENTION Focus on academic intervention to inculcate and stimulate the culture of innovation amongst entrepreneurs. Key highlights here include:• Academic intervention/Revamping education

system• Events for awareness, mentoring, networking

and training

STATE OWNED INCUBATORFocus on developing an ultra-modern state-owned incubator and ancillary infrastructure that will be linked to the marque incubators

INCENTIVESFocus on providing funding support through fiscal and non-fiscal incentives• Fiscal Incentives – GST reimbursement,

stamp duty reimbursement, digital upgradation subsidy, lease rental reimbursement, power subsidy, marketing and promotion assistance

• Non-Fiscal Incentives – preferential market access, self-certification & compliance

THE STATE HAS 160+ REGISTERED STARTUPS UNDER THE STATE STARTUP INITIATIVE.

The state’s startup portal is ‘startup.assam.gov.in’ and it provides the following services:• Startup registration • Incubator registration • Learning and development programmes• Mentor connect • Investor connect• Information on various policy incentives

Government of Assam has appointed a nodal team with six members within the office of Commissioner of Industries & Commerce for supporting the development of startup ecosystem in the state. The team comprises of:

• Additional Director • Joint Director • Deputy Director

• Two Industries Officer • IT Officer

STARTUP PORTAL

NODAL TEAM


SNAPSHOT OF STATE PERFORMANCE 02

Performance of the Best State in the pillar

Relative Performance of the State

The following representation details the status of Assam’s implementation on each of the 7 pillars of assessment. Data presented below is the percentile score.

Assam has been evaluated on 7 distinct pillars which largely contribute to the growth of the startup ecosystem in Assam. The representation as expressed above depicts the relative performance of Assam in each of the seven pillars in comparison to the performance of the best state in that pillar.

Although efforts have been made to enhance the startup ecosystem, the initiatives undertaken towards uplifting the startup ecosystem in Assam require improvements since results have been negligible across pillars. Greater efforts need to be employed by the state for noticeable outcomes.

Detailed analyses of this snapshot can be viewed in the subsequent section, with extensive insight into the initiatives taken by Assam to uplift its startup ecosystem.

Venture Funding Support

0%

Easing Public Procurement

0%

Simplifying Regulations

0%

Incubation Support

0%

Institutional Support

0%

Awareness and Outreach

2%

Seed Funding Support

2%


PILLAR-WISE ASSESSMENT

• The state’s startup policy is valid for a period of five years from 2017 to 2022.

• The policy is publicly available on the state’s startup portal and has clear guidelines on the registration process for startups and the benefits and incentives (both fiscal and non-fiscal) available for startups, incubators, nodal institutions, educational institutes.

• The policy has a clear definition of startups according to which an entity will be considered a startup of it fulfills the following conditions:

− The date of incorporation/registration is not prior to seven years. In case an entity is engaged in the biotechnology sector, the date of incorporation should not be prior to 10 years.

− Annual turnover of the entity does not exceed INR 25 crore.

− It is registered in Assam or employs at least 50 percent of its total qualified workforce from Assam which shall not include contract employees.

− Not be an extension of an existing family business or formed by splitting up or reconstruction of a business already in existence.

• The state has a startup cell which comprises of a dedicated team that provides all necessary assistance to the startups.

− In March 2018, the Commissioner of Industries and Commerce was assigned as the nodal officer to act as a single point of contact for all issues relating to startups.

− In November 2019, the Department of Industry and Commerce was assigned as the nodal department.

− Contact details of nodal department/agency and officers (with designation) and the profiles of the dedicated team assigned for any startup are available on the state’s startup portal.

• The policy also aims to provide incentives to women entrepreneurs. Some of the key incentives are:

− Incentive for hiring women – Startups with My Assam Start up ID (MASI) shall be eligible for a special one-time incentive of INR 5,000 per woman that is hired subject to an upper limit of INR 1 lakh per startup for a period of three years.

− Incentive for entrepreneurs – Entrepreneurs of startups with MASI shall be eligible for a sustenance allowance of INR 20,000 per month per startup entity for one year. Preference in this regard shall be accorded to women entrepreneurs. Eligibility for the grant shall be evaluated by nodal agencies as identified by the state government and as per operating guidelines.

KEY FACTS

1. INSTITUTIONAL SUPPORTInstitutional support envisages provisions and execution of the state’s startup policy including information on the nodal team within the state, online implementation system, registration of mentors and their listing on the state startup portal. The states are evaluated based on the laid provisions along with parameters of availing benefits through state intellectual property rights portal, establishing partnerships with institutions, providing special incentives for women led startups and entrepreneurship.

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COMPREHENSIVE ONLINE MECHANISM TO ESTABLISH MENTOR NETWORKS

• In order to provide quality mentorship, the state has developed a robust mechanism to connect startups with industry experts and successful entrepreneurs registered as mentors on the state portal. These mentors provide business and technical mentorship to startups across all stages.

• The startups can access the list of mentors, along with the profiles of the mentors, from the state’s startup portal and can choose a topic on which they require domain expertise. A screenshot of the portal with the list of mentors is shown below:

ROBUST INTELLECTUAL PROPERTY (IP) SUPPORT

• The state has a robust system in place to provide intellectual property assistance to startups in terms of provision of subsidies for filing patents/trademarks.

• Following benefits related to IP support are provided in the startup policy:

− Startups with My Assam Startup ID (MASI) shall be eligible for reimbursement up to 100% of the actual costs (including filing fees, attorney fees, search fees, maintenance fees) for patent filing with a maximum limit of INR 1 lakh for filing a domestic patent and up to INR 5 lakh for filing an international patent.

− 75% of the reimbursement shall be payable after the patent is filed and the balance 25% after the patent has been granted.

COHESIVE PARTNERSHIPS FOR DEVELOPMENT OF STARTUP ECOSYSTEM

• The state has established cohesive partnerships with educational institutions and business enterprises for supporting startups.

• Startups have benefitted from these partnerships through assistance with professional services, mentorship, access to libraries and labs, software/hardware tools and other lab equipment, knowledge exchange, technology transfer and market linkages.

• Corporate partners include Amazon Web Services, Lead Angels, Social Alpha and Villgro.

• Educational partners include Jagannath Barooah College and Guwahati Commerce College.

KEY STRENGTHSCOMPREHENSIVE ONLINE IMPLEMENTATION SYSTEM

• The state has a dedicated online portal (startup.assam.gov.in) for startups to get registered with the Government of Assam and avail various policy benefits and incentives.

• Startups can register, obtain registration certificates, track application status and generate online receipts on the portal.

• The registration process is straightforward as startups get required access from a single window called My Assam Start up – ID (MASI) which is part of their startup portal. Key features of the same are:

• In addition, the state startup portal has a dedicated helpdesk for resolution of queries and can be accessed through web, phone and email.

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Automated approval – Startups that apply for recognition on the Assam Startup Portal and are duly approved by the concerned authority will be issued a MASI through an automated system

Access to statewide infrastructure & fiscal benefits – MASI will enable startups to have access to the statewide infrastructure network and access to fiscal benefits through the Assam startup portal


WAY FORWARD

The state needs to give importance to this pillar in order to further strengthen the startup ecosystem. The state could prioritise actions required in three categories: short, medium and long term. Action required in each of these categories are summarised below: -

SHORT TERM ACTIVITIES (1-3 MONTHS)The activities suggested in this category are important and will take relatively less time for implementation. Through dedicated efforts, results can be achieved within one to three months. Activities suggested under this category are:

Enhance the online implementation system for startups • As a step towards enhancing the existing online implementation system, the state is encouraged to upload the list of mentors and

incubators online

• While the state startup portal has an online dashboard, the state is also encouraged to provide month-to-date, and year-to-date figures/ status on the

− Number of startups registered

− Number of Seed and Venture Funds

− Number of incubators

• The state could consider having an online information wizard in place which can provide all the information required such as the requisite approvals and clearances to start a business in Assam

• To ensure seamless coordination across departments and disbursal of benefits & incentives, the Assam Startup Portal may be integrated with a single window Portal (easeofdoingbusinessinassam.in)

MEDIUM TERM ACTIVITIES (4-6 MONTHS)The activities suggested in this category are important and will take relatively more time for implementation. Through dedicated efforts, results can be achieved within four to six months. Activities suggested under this category are as follows:

Promote women entrepreneurship• Women entrepreneurs could be allocated a dedicated percentage of seats in the incubation centers and offered dedicated mentorship

and financial assistance for marketing of their products/services.

• The state could consider establishing dedicated funding sources for women entrepreneurs in the form of grants, seed and venture funds.

Facilitate support from various state departments• In order to provide support to startups, the state is encouraged to rope in institutional support from various departments across sectors

to strengthen the startup ecosystem.

• The support to startups could be extended through sustainable programmes organised by other state departments. Sustainable programmes include grand challenges, hackathons, incubation, seed funding, angel and venture funding.

easeofdoingbusinessinassam.in


2. SIMPLIFYING REGULATIONSSimplification of regulations considers mandatory requisites for state level approvals and clearances for registering and operating a business or startup online. In order to make compliance for startups friendly and flexible, simplifications are required in the regulatory regime. It encapsulates regulatory issues faced by registered startups which have been identified through an interactive online mechanism subject to approving action by regulatory agencies. The states are evaluated based on the support provided to startups by introducing a list of rules, regulations or Acts in the state, including amendments in the Acts and regulations with requisite details to create a conducive environment for the state’s startups.

The state has established an Ease of Doing Business (EoDB) portal (easeofdoingbusinessinassam.in) for all state level approvals and clearances required for registering and operating startups across various sectors in Assam. The portal can be accessed through the state’s startup portal. Approvals and clearances from more than ten departments can be accessed through the EoDB portal. The portal also has a host of industry partners such as Tata Consultancy Services, Indian Oil, Dalmia Cement, Britannia, Unilever etc. The key objective of the EoDB initiative is to provide the best possible support towards the prospective and existing business community in the state and drive forward the state’s vision of prosperity for all.

KEY FACTS

KEY STRENGTHS

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FAVORABLE REGULATORY ENVIRONMENT FOR STARTUPS

• The state has created a favorable regulatory environment for startups through an initiative where startups can self-certify themselves for compliance with certain regulations.

• The following regulations are covered under this initiative:

• The Inter-State Migrant Workmen (Regulation of Employment and Conditions of Service) Act, 1979

• The Building and Other Constructions Workers’ (Regulation of Employment and Conditions of Service) Act, 1996

• The Payment of Gratuity Act, 1972

• The Contract Labour (Regulation and Abolition) Act, 1970

• The Employees’ Provident Funds and Miscellaneous Provisions Act, 1952

• The Employees’ State Insurance Act, 1948


WAY FORWARD

The state needs to give importance to this pillar in order to strengthen the startup ecosystem. The state could prioritise actions required in three categories: short, medium and long term. Action required in each of these categories are summarised below:-

SHORT TERM ACTIVITIES (1-3 MONTHS)The activities suggested in this category are important and will take relatively less time for implementation. Through dedicated efforts, results can be achieved within one to three months. Activities suggested under this category are:

Online system for approvals and clearances• The mechanism for obtaining approvals and clearances on the EoDB portal is a list-based non-interactive portal. The state can make it

more interactive by adding a Chat bot to the EoDB portal. This will help in real time problem-solving for the startups and they will be able to get customised responses instead of standardised Frequently Asked Questions (FAQs) currently available on the website.

• The state could make sure the list of approvals and clearances is exhaustive in nature, simplifying the regulatory regime and making it user friendly for the startups.

MEDIUM TERM ACTIVITIES (4 –6 MONTHS)The activities suggested in this category are important and will take relatively more time for implementation. Through dedicated efforts, results can be achieved within four to six months. Activities suggested under this category are as follows:

Improve mechanism to invite or identify regulatory issues• The state could have an additional mechanism for inviting and identifying feedback, suggestions, queries and grievances for any

regulatory issues faced by startups.

• The state could conduct quarterly roundtables/workshops to resolve sector specific regulatory issues. This could include a two-way communication between startups, and relevant government departments aimed at direct consultation and grievance redressal. This could include specific focus on startups in disruptive technologies as well.

Amendments in rules and regulations or acts for supporting disruptive startups• Startups in disruptive technology areas/business models could be given regulatory ease to create a wave of entrepreneurship in areas

of business which are less explored. This is imperative to drive a large-scale change in developing the startup ecosystem in the state.

• Additionally, the state could host pre-drafting consultation through the online and offline medium by inviting stakeholders or public feedback/comment on drafting policy or regulations and amend regulations accordingly.

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3. EASING PUBLIC PROCUREMENTEase in public procurement simplifies criteria to ensure participation of startups in government tenders. The states are evaluated based on the support provided to startups in resolving issues related to state public procurement as norms of Earnest Money Deposit (EMD), prior experience, and prior turnover which prove to be barriers for participating startups. Easing of such norms enable startups and entrepreneurs to avail exemptions and share an equal platform with established organisations.

The state has not made the necessary relaxations for startups with respect to criteria for prior experience, turnover and submission of earnest money deposits (EMD). Also, the state has not taken any initiative to give preference in public procurement and award of work orders to startups. However, the state has established an online mechanism to address the grievances of startups related to public procurement.

KEY FACTS

ROBUST GRIEVANCE REDRESSAL MECHANISM

• The state has developed a robust online grievance portal, along with a detailed framework for timely resolution of grievances which can be easily accessed through the state’s startup portal.

• In August 2019, the state appointed officers from Assam Industrial Infrastructure Development Corporation (AIIDC) for the grievance redressal cell for timely resolution of queries.

KEY STRENGTHS

WAY FORWARD


SHORT TERM ACTIVITIES (1-3 MONTHS)The activities suggested in this category are important and will take relatively less time for implementation. Through dedicated efforts, results can be achieved within one to three months. Activities suggested under this category are as follows:

Relaxation in prior experience, prior turnover and EMD criteria• Currently, only Micro and Small Enterprises (MSE) are provided a relaxation in the criteria for prior experience, prior turnover and

submission of EMD as per the state’s procurement policies.

• The state could modify the procurement policy to extend such relaxations to startups.

Award work orders to startups• The state could consider awarding work orders to startups in the coming years in order to encourage entrepreneurship.

• The state could consider organising annual events where startups can demonstrate their capabilities directly to the government and subsequently take part in public procurement activities.

LONG TERM ACTIVITIES (7-12 MONTHS)The activities suggested in this category are important and will take relatively more time for implementation. Through dedicated efforts, results can be achieved within seven to twelve months. Activities suggested under this category are:

Provide preference to startups in public procurement• The state is encouraged to provide adequate preference to startups in public procurement of goods and services.• Currently, only micro and small enterprises are given preference under the procurement preference policy. The state could modify the

policy to include startups as well.• The state could fix a minimum percentage of quantity or value of goods to be procured from local startup units.


4. INCUBATION SUPPORTIncubation support is an integral element of the startup ecosystem that supports entrepreneurs to grow their businesses and assists new startups to succeed. In order to promote startups, the state governments collaborate with organisations, corporates or industry associates to establish incubators, to support startups in the form of capital expenditure or operational expenditure. The evaluation is based on setting up of incubators supported by the state governments to release funds to the startups, thereby creating a unique mechanism to provide subsidised incubation and operate acceleration programmes in partnership with the industry.

• The state has established a startup incubator space known as “The Nest”. This is a joint venture between the state government and IIM Calcutta Innovation Park (IIMCIP). IIMCIP is a not for profit company set up under IIM Calcutta to promote entrepreneurship and innovation. It is the implementing partner for the Government of Assam for all incubation and entrepreneurship related programmes

• The state also partners with various educational institutions to establish entrepreneurship cells in their campuses. These cells act as a spoke to The Nest by promoting entrepreneurship locally

• As many as 1000+ applications were received for the first incubation batch out of which 50 startups were finally selected for incubation in a 6-month long programme called Cohort 1.0

KEY FACTS

KEY STRENGTHS

CONGENIAL ENVIRONMENT FOR GROWTH OF INCUBATORS

• The state provides financial assistance to aspiring incubators in the form of grant of upto 75% of project cost to set up an incubation facility in an educational institute or a corporate/ Public Sector Undertaking (PSU). The state also offers up to a maximum of INR 5.0 crore to set up / scale up an incubator facility. The state has supported 10 incubators through the above-mentioned initiatives

• The Nest supports startups across multiple sectors with the sole mission of developing Assam into a regional startup hub. The incubator has all the required infrastructure such as workspaces, conferencing infrastructure, internet connectivity, design and testing labs. Further, startups can gain access to various services such as financial assistance, accounting assistance, legal assistance and mentorship through this incubator

• Incubation at the Nest helped startups record remarkable growth. The top 10 startups from Cohort 1.0 together recorded a revenue growth of 450%. The total revenue generated by the startups in these 6 months is INR 11 crore. The total fundraised is INR 5 crore and 320,620 lives have been impacted through creation of 1,690 direct and 40,078 indirect employment opportunities. The startup incubator selected 26 startups for Cohort 2.0



Setting up of new and upgrading existing incubators• Given an increase in the number of startups coming up in Assam, the state is encouraged to be more proactive in setting up and

promoting incubation facilities.

• The state could conduct marketing events to educate entrepreneurs about the various incubation related benefits offered by the government to set up and run incubation facilities.

Increasing the number of seats for startups in incubators• The state is encouraged to increase the number of seats in ‘The Nest’ for startups in Assam by augmenting its infrastructure capacity.

To increase the capacity of the Nest, the state could establish a dedicated fund through which venture funds and angel investors can invest in the Nest.

Conduct more acceleration programmes and improve participation of startups• The state could conduct programmes in partnership with industry and formulate measures to promote innovation and encourage

industry participation.

• In addition, the state could encourage enrollment of startups in acceleration programmes to provide startups with the opportunity to connect with investors and mentors and receive funding and knowledge support.

Provide additional support to startups for incubation• While the policy lists the provisions for subsidised incubation, the state could reach out to more private incubators and form partnerships.

• State could provide matching grants that complement grants by corporates, academic institutions and central government.

WAY FORWARD



The state has prioritised provision of seed funding to startups in the region. The startup online portal provides startups with a mechanism to avail seed funding benefits and additional funding guidelines as well as resources for application procedure are available on the portal. The portal also includes tracking of applications and communication of approvals for startups to get real-time updates.

KEY FACTS

KEY STRENGTHS

5. SEED FUNDING SUPPORTSeed funding can be in the form of a direct grant, subsidised loan, product development and marketing financial assistance, monthly sustenance allowance or even equity seed funding. With seed funding, the evaluation is based on the states’ endeavor to help a business grow and generate its own capital by establishing a guideline document. The states need to ensure that startups scale with the right velocity in order to achieve leading positions, through state investment and startup’s entrepreneurial knowledge.

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ROBUST MECHANISM FOR PROVISION OF SEED FUNDING

• The state has established a robust mechanism to provide seed funding to startups which can be accessed through its startup portal. The portal also provides online tracking of application and communication of approvals to startups.

• The state’s startup policy clearly defines the eligibility criteria, extent of seed funding and application procedure for startups in the state. Startups in the state must apply for a My Assam Startup ID (MASI) in order to avail monetary incentives from the Government of Assam.

• Once the startup has been recognised and provided a MASI, the startup can apply for the following monetary benefits under the Startup Assam Policy:

− Annual reimbursement of state GST paid in sales of goods for a period of 3 years up to a maximum of INR 5 lakh per startup per year.

− Reimbursement of up to INR 50,000 on stamp duty/conversion fee/registration fee paid on sale/lease deed for first transaction.

− Scale up grant amounting to INR 50 Lakh per startup.

− One-time Idea2POC grant amounting to INR 5 Lakh per startup.


WAY FORWARD


SHORT TERM ACTIVITIES (1-3 MONTHS)The activities suggested in this category are important and would take relatively more time for implementation. Through dedicated efforts, results can be achieved within four to six months. Activities suggested under this category are as follows:

Increase awareness related to seed funding initiatives• Although the state’s startup portal contains a list of startups operating in the state, the state has not provided a list with the number

of startups who have availed seed funding benefits. Further clarification on the same could be prioritised by the state to ensure transparency within the state’s startup ecosystem. Disclosure of such documents in the public domain will encourage entrepreneurs in the state to pursue their endeavors with zeal and confidence.

• Also, the state may consider conducting dedicated annual events for provision of seed funding to early stage startups.


6. VENTURE FUNDING SUPPORTVenture capital funding support is provided to the startups from state supported funds. The states are evaluated based on the establishment of the Fund of Funds (FoF) with approved operating guidelines and signing a memorandum of understanding (MoU) with the fund manager along with a concrete budget allocation. Venture funding provides strong growth potential to startups wherein the fund is used for the all-round development of startups and to levitate the startup ecosystem of the states.

• The state encourages high net worth individuals, entrepreneurs, university alumni and experienced business executives to create an Assam angel network and social impact investor groups. The main objective of these initiatives is to provide early stage funding to startups.

• The state has established a fund known as the “Sarothi Startup Fund”. The main objective of the fund is to remove the obstacles related to funding for small startups in Assam. The scheme provides financial assistance in the form of a loan up to INR 25 lakh with interest subsidy at 5% per annum. The state partners with the Assam Gramin Vikash Bank (AGVB) to implement this scheme.

• The state’s startup policy has proposed to establish an innovation fund to foster research in Information Technology and Electronics in the state-run institutions. The fund will be utilised to facilitate technology transfer and commercialisation in the institutes.

KEY FACTS

WAY FORWARD



Improve awareness of benefits received from venture funds• The state could initiate the creation of a detailed list highlighting the state’s support to startups and venture funds, which can be

accessed via the startup portal. By making the state’s initiatives available in the public domain, entrepreneurs and startups may become more aware of the funding support provided by the state government and therefore avail such services.

State support to venture funds• The state could establish venture funds with clear operating guidelines for the fund and sign an MoU with the designated fund manager.

• The state has circulated the intent of establishing Assam Angel Network (AAN) and Social Impact Investor Groups to assist with the early stage funding requirements of startups. However, the state could facilitate such discussions through workshops and networking events, details of which could be released in the public domain to ensure knowledge sharing and holistic development of the startup ecosystem.

• The state may consider a strategic partnership with the first dedicated venture capital fund for the North Eastern Region – “North East Venture Fund (NEVF)” – launched by Government of India. Such an alliance would enable the state to channelise appropriate investments in startups in a timely manner.

• The state could provide further clarification on the operating guidelines and deployment of funds on its startup portal.


7. AWARENESS AND OUTREACHIt is the endeavor of state governments to raise awareness about the Indian startup ecosystem and increase its outreach throughout the state. The states are evaluated based on awareness of startups created through workshops, national and international events including bootcamps and hackathons/ grand challenges. In order to promote startups, the state encourages participatory and inclusive processes for linking startups with angel investors and high net worth individuals. Maximum participation is encouraged for exchange of valuable knowledge amongst startups, and pitching sessions for angel investments with widespread propagation.

The state has organised hackathons and bootcamps across Assam. The state has also organised two angel investment workshops. Such initiatives work in tandem to improve the long-term outlook of the state’s startup ecosystem.

KEY FACTS

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FOSTERING ENTREPRENEURSHIP THROUGH HACKATHONS AND GRAND CHALLENGES

The Nest in association with academia have held hackathons and bootcamps across the state to ensure knowledge sharing and enhance the overall development of the startup ecosystem in the state. Key bootcamps and hackathons held across the state include: • “The Essential Qualities for Entrepreneurship”, a one-

day bootcamp organised by the Nest at Assam Don Bosco University in Azara in May 2019. The agenda of the bootcamp was to inculcate the essential qualities for entrepreneurship among students. Close to 100 students pitched their startup ideas before a panel of experts in this eight-hour long event

• “The Importance of Entrepreneurial Mindset Among Students” held at Royal Global University in April 2019. Experts from IIM Calcutta Innovation Park delivered sessions to motivate young minds to inculcate an entrepreneurial mindset. Each session was followed by a question & answer session. Nearly 100 students participated in this eight-hour long event

• “Preparing a Pitch Deck for Investors”, a bootcamp conducted by the Nest at Indian Institute of Technology, Guwahati in June 2019. The core agenda of the event was to acquaint budding entrepreneurs with the most effective format for pitching before investors. Close to 150 students participated in this eight-hour long event

• Assam Startup – The Nest, in association with IIM Calcutta Innovation Park, conducted an entrepreneurial session at the Tata Institute of Social Science, Guwahati in July 2019. Experts from IIM Calcutta took special sessions to educate the students about startups as well as how the Nest can help fulfill entrepreneurial aspirations. The event saw participation from close to 110 students and was held for a duration of 8 hours

• “Digitisation of the Management System in the University”, a one-day hackathon at Gauhati University in September 2019. Close to 120 students participated in this day-long event. The event witnessed students brainstorming to work out effective solutions and create sound business models for implementing solutions


LONG TERM ACTIVITIES (7-12 MONTHS)The activities suggested in this category are important and will take relatively more time for implementation. Through dedicated efforts, results can be achieved within seven to twelve months. Activities suggested under this category are:

Improvement in organisation of Hackathons and grand challenges • The state could prioritise organising a greater number of bootcamps and hackathons. These events are a medium to foster innovation

among students and a tool to adopt low-cost, high-impact technologies into governance.

• The state could also focus on conducting activities like ideation workshop for idea validation and pitch deck creation, mentor workshops, and pitching sessions for students and aspiring entrepreneurs. Such initiatives will help in dissemination of valuable knowledge and resources across the state creating a more enabling environment for startups.

Create more awareness about angel investment workshops and conduct more events • The state could publish fiscal/non-fiscal incentives provided to angel investors for their investment in startups. This information will

induce greater interest from angel investors, eventually benefitting the startup ecosystem in the state.

• The state could focus on initiating national and international events aimed at knowledge exchange and pitching sessions. The inclusion of startups from foreign countries will help inculcate international best practices for startups in the state.

WAY FORWARD



Notes

CONTACT US

www.startupindia.gov.in

[email protected]

1800-115-565

ASSAM · 2020. 9. 11. · Assam has been evaluated on 7 distinct pillars which largely contribute...

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Transcript of ASSAM · 2020. 9. 11. · Assam has been evaluated on 7 distinct pillars which largely contribute...