BENGALURU: Until several years ago possessing a white collar job after the graduation was prime priority among the youth, but the recent trend is completely in contrast of the above statement. Startup is the ongoing trend in the country as the present youth tend work on an idea or a solution rather than working for money.

Perceiving the latest development in the business world, Prime Minister Modi announced his dream project ‘Startup India’, relatively on January 16^th the government will release the action plan to boost the sector.

According to the latest report of the ET, the entities created by the splitting of the companies, firms that older than five years or those who have crossed 25 crore in sales are unlikely avail any sort of benefits under the project.

The project is mostly intended to nurture the startups, which have innovation in their core. Further the government is also pondering to extend the benefits to startups working on development, deployment or commercialization of new products, processes or services driven by technology or intellectual property. This is considered as a major move in creating the startup friendly environment in the country as the eligible startups will be consented with tax incentives and simplified compliance rules.

As per the reports, the launch of the program will be witnessed by 40 top CEOs and founders of startups and investors from Silicon Valley along with SoftBank Chief Executive Officer Masayoshi Son and Uber founder Travis Kalanick.

Further the government is framing several check lists to differentiate character of the innovation that will be proposed by the startups.

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