From being a country of job seeker, India is aspiring to become a job generating country. The vision of PMO, Narendra Modi is to empower the youth, to allow them to actualize their business ideas and start up their own businesses. This Startup innovation is a historical step being taken into the direction of success and development of the country. Marwadi University, the best university of Gujarat. has joined this revolution by getting approved as a Nodal Institute under the Gujarat Industrial Policy 2015, “Scheme for assistance for Start-Ups/Innovation” support.
India is poised to become the youngest country by 2020 with an average age of 29 years, accounting 28% of the world’s work force. Despite being a country with comparatively larger percentage of young population, India has only 65 incubators. There are around 5,000 start-ups world over, in which 2000 are in the United States and 1000 are in China. The reason behind this low percentage of startups is mostly lack of funds and basic skills required to implement the idea. In Gujarat alone, 60% of Gujarat’s Population is in the age group of 15-59, which counts for a large number of unheard ideas. The reason behind initiating Start-up Gujarat is to help the youth to start their own businesses. The idea is to financially support and equip the innovative youth so as to produce young entrepreneurs and incubators.Marwadi University has been approved as a Nodal Institute under the Gujarat Startups scheme which means that the institution would be able to undertake Startups. Under this, any innovator can approach MU, the top college in Gujarat, with his/her proposal of innovative idea/concept for the recommendation. Then the institution assists the innovator to avail the benefits of the scheme. Such as Rs. 10,000 per month will be provided to the innovator as sustenance allowance for one year whose project is recommended by institution as approved by Committee
The Government is also focussed on initiating the start ups incubators/ centers for developing entrepreneurial skills in the youth. By providing the necessary help to the young people through institutions like Marwadi University, the Government plans on utilizing the innovative capacity and entrepreneurial mind set of the youth. As per the State Government, startups will create opportunities for young population in near future.The recommendations have been incorporated the New Industrial Policy 2015. 2500 persons will be supported for the period of 5 years. By being a part of this initiative the Marwadi University, the best college in Rajkot has taken a huge step in harnessing the talents and developing entrepreneurial skills in the youth. The future of the students is headed towards a great success as their ideas and plans are backed by their college as well as the government. This policy ensures that no innovative idea goes waste due to the lack of funds or necessary skills. In order to increase it reaches to more and more number of young minds, the government has joined hands with Universities/ educational institutions, Incubation Center I PSUs I R&D Institutions, private and other establishments.
These startups increase the placement base and more employment opportunities are generated within the country. There is also a subsequent increase in the total revenue generation of the country. The Startup Gujarat has shown excellent results by generating more jobs and opportunities than ever, which further helps the young people to find a suitable job. Marwadi University, the top engineering college in Gujarat is thus working towards a state, a country which is no longer lacks employment opportunities and instead generates jobs and opportunities.