The courses at Woxsen are
designed to foster innovative thinking. Firms, the world over, value employees
who can think innovatively and devise cost effective solutions to everyday
The GoI is also encouraging
entrepreneurial thinking and entrepreneurship. The Start Up India launched by
the Prime Minister recently aims to encourage entrepreneurship and innovation
that will help solve India’s myriad problems, create jobs and also create wealth.
The chief measures
announced by the GoI to encourage innovation and entrepreneurship are:
– Periodic national and
international startup festivals to provide visibility.
Innovation core programs for students in 5 lakh schools. Annual
incubator grand challenge to create world – class incubators.
PPP model for construction
of 35 new incubators; 31 innovation centres at national institutes, 7 research
parks and 5 new bio-clusters.
No inspection for 3 years of start-up businesses in respect
of labour, environment law compliance post self-certification.
Income tax exemption to startups for three years. There
will be a tax exemption on capital gains for startups.
Credit guarantee fund for startups. A Fund of Funds will also be
created with an initial corpus of Rs 2,500 crores and later Rs 10,000 crores.
A 80 per cent rebate in
patent costs for start ups.
Exits for startups will be made faster and easier.
There will be faster patent
registration and protection for Intellectual Property rights.
A mobile app will be launched on April 1 through which
startups can be registered in a day. There will also be a portal for
clearances, approvals and registrations.