What are startups looking for in Union Budget 2019?

What are startups looking for in Union Budget 2019?

Ms. Rashi Gupta, Chief Data Scientist & Co-founder, Rezo.AI

Startups contribute substantiate growth to the economy. Hence, we urge the government to make early stage and growth capital more easily accessible for startups. Also, relaxation in the regulatory compliance procedures and development of incubation centres to aid employment generation and spur growth will open dynamics for startups to propel.

Since one of the major challenge faced by startups is on regulatory and compliance front, therefore, regulations should be made more friendly for startup companies and compliance regulation should ease.

Mr. Neel Juriasingani, CEO & Co-founder, Datacultr

We believe that the funds allocated for the startups in the budget should be easily accessible to the startups incubated by the central or the state government.Besides, we expect that with the new budget, the government will introduce easy early stage funding and grants for tech start-ups working in the space of digital and financial inclusion.

The government should also make sure that startups have a level playing field with other companies, more particularly listed companies where they can participate and win tenders for central and state government projects.

Another key area that the GoI needs to address is GST compliance. We also expect the government to reduce tax rates creating a more welcoming ecosystem for the industry players. Policy regulations like these will allow entrepreneurs to devote their time, energy and resources to gain success and build upon more innovative ideas.

Mr. Kartik Agarwal, CEO, Staunch

In last 5 years government has launched more than 150 schemes and policies for the startup community interest. Further pushing the Indian youth to look at start-ups as a viable career option, we hope that resources, funds and capitals provided by the government will be easy to access. We have a huge expectations ranging from Clarity on angel tax to tax exemptions on ESOPS, easing active compliance norms and state level funding & infrastructure support.

Mr. Yogesh Bhatia, CEO, PreLoved Device

India has provided a nurturing ground to numerous startups in the past few years. The country has produced a great number of startups that are leading at a global stage. Having just started up, we urge the government for an easy regulatory system, policies, and norms for the startups so that we can run our business without any administrative obstacles.

Mr. Mohit Poddar, CEO and Founder, Shoes on Loose

Tourism plays a vital role in the growth of the economy of our nation contributing to a large proportion of GDP, leading to job creation. So, I believe that the government will definitely focus on this sector in Union Budget of 2019. The government should announce policies that would give a boost to the travel start-up community. Although last year’s Union Budget was a setback to India’s tourism industry, this year we are expecting more attention on this sector, favorable policies, fund allotments for start-ups and better tax reforms.

Along with the tax reforms, we also expect a clarity on taxation system for the smooth functioning of the businesses.