A formal agreement between Startup India and German Startups Association is being worked upon and likely to be signed soon
Words: Vandana Devi Images: Various Sources
Commerce and Industry Minister Nirmala Sitharam during her recent visit to Germany alongside PM Modi, met with Germany’s Economic Affairs Minister and discussed about the opportunities for collaboration to share knowledge and practices in the startup ecosystem.
A formal agreement between Startup India and German Startups Association is being worked upon and is likely to be signed soon. The German Startups Association has about 650 startups, 50 partners and coordinates with US, China, Israel and India. Also, 3 German startups in the renewable energy sector have also sought support to enter India and work with Startup India to explore business opportunities here.
India is looking at such international tie-ups to promote domestic startups and give them a global platform. And the latest amended patent rules also allow startups from across the world to register patents in India faster and at lower costs in the ‘tatkal’ (instatnt) category.
Startup India programme, launched in 2016 by PM Modi provides a host of incentives to companies which includes tax breaks, easier access to finance and on. The government has also created a fund of Rs. 10,000 crore to be released for investments in startups till 2025.