Accelerate business creation through startup ecosystem

Vinay Singhal, Co-Founder & CEO, WittyFeed

India has become the second largest startup hub in the world. The Union Budget 2019 is bringing in a robust hope for the startup and technology industries in India. What will be interesting to see is whether the expectations will be met with similar vigor and thirst by the Government of India this time around.

The plight of dealing with Angel Tax has been intact for long. Angel Tax has emerged as one of the key issues faced by the Indian startup ecosystem. A lot more regarding the same needs to be addressed by the Government to boost angel investments in the country.

The technological disruption directly shapes the future of startups and with the upcoming Union Budget, we expect to witness a clear vision around how technology, especially AI, and startups will be dealt with in unison.

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The startup ecosystem is expecting the government to provide for simpler regulations surrounding the tax levied upon Employee Stock Options (ESOPs). The same goes for StartUp India, Government of India’s flagship initiative wherein policies abounds but the realization on the ground differs the expectation. It will help if the intent on paper is transformative enough to change the landscape of startups in India for real.

Accelerating innovation-driven entrepreneurship and business creation through startup-ecosystem is crucial for large-scale employment generation, so says the Government. Hence, it’s high time for the Government to ensure that they walk the talk and bring about a significant difference on-ground with the upcoming Union Budget 2019.

The author is the Co-Founder & CEO of WittyFeed.