The Indian government has been making a synergistic effort across ministries and sectors to nurture innovation and startups.In January 2016, the Startup India movement was launched by the Prime Minister. The government has also relaxed public procurement guidelines so that conditions of experience and turnover are not required for startups. Apart from this, AIM has selected 13 institutions to establish incubation centres.Initially, the startup movement in India placed a lot of emphasis on tried-and-tested ideas and executing them well. The financial sector, which has over 900 startups, will see constant disruption and innovation.Startups are vehicles for directed, scalable, and sustainable innovation. We need to build an innovatively agile society which can grapple with problems and create workable and cost-effective solutions quickly.

Source: Economic Times August 14, 2017 18:00 UTC