9.26      ndian     onom
           Setting up Start-up India hub to create            To encourage the Startups, the Government
           a single point of contact for the entire      has taken several new initiatives (as per the
           Start-up ecosystem and enable knowledge       Economic Survey 2017-18) in the area:
           exchange and access to funding.                        Acknowledging the need to reduce
           Rolling out of mobile app and portal to                the regulatory burden self-certification
           serve as the single platform for start-ups to          allowed (under three labour laws and six
           interact with government and regulatory                environment laws).
           institutions and various stakeholders.                 Startup India Hub has been developed as a
           Relaxed norms of public procurement.                   single point of contact for them enabling
           Legal support and fast-tracking of patent              them to exchange knowledge and access
           examination at lower costs to promote                  fund.
           awareness of IPR (Intellectual Property                A Fund of Funds for Startups (FFS) with
           Rights).                                               a corpus of Rs. 10,000 crores has been
           Faster and easier exit norms.                          created which is being managed by SIDBI.
           Providing funding support through a                    Several steps have also been taken to
           fund of funds with a corpus of Rs. 10,000              promote Industry-Academia Partnership
           crore.                                                 and Incubation. With an aim to foster
                                                                  and facilitate Bio-entrepreneurship, Bio-
           Credit Guarantee Fund to catalyse
                                                                  clusters, Bio-Incubators, Technology
                                                                  Transfer Offices (TTOs) and Bio-
           Tax exemption on capital gains                         Connect, offices are being established in
           Income Tax exemption for three years                   research institutes and universities across
           Launch of AIM (Atal Innovation Mission)                India.
           with the SETU (Self-Employment and                     Seed Fund and Equity Funding support is
           Talent Utilisation) programme to serve                 also provided to bio-tech Startups under
           as a platform for promotion of world-                  the initiative.
           class innovation hubs, start-up businesses         Start-up India will turn Indian youths from
           and other self-employment activities,         job seekers into job creators. It will encourage
           particularly in technology-driven areas.      entrepreneurship, innovation and creation of
           Building innovation centres at national       revolutionary new products in India, that will be
           institutes to propel successful innovation    used by people around the world. The initiative
           through augmentation of incubation and        aspires to give India wings to fly above the sky.
           R&D efforts.
           Setting up of 7 new research parks               IndIan Infrastructure
           (modelled on the research park at IIT
           Madras).                                      An introDuction
           Promoting start-ups in the biotechnology      Infrastructure is the ‘lifeline’ of an economy
           sector.                                       as protein is the lifeline of the human body.
           Launching        of      innovation-focused   Whichever sector be the prime moving force of
           programmes for students to foster a           an economy, i.e., primary, secondary or tertiary,
           culture of innovation in the field of science suitable level of infrastructure presence is a pre-
           and technology.                               requisite for growth and development. This is why