He was addressing a conference on ‘Start-up India, Challenges and Sustainability’ organised by PHD Chamber of Commerce and Industry here. He also said the government is providing funds under the Rs 10,000 crore ‘Fund of Funds’. Enumerating steps taken for the promotion of budding entrepreneurs in the country, Abhishek said the DIPP is fast tracking the patent examination process. “We are providing 80 per cent rebate in applications…large number of start-ups have already availed this benefit and I hope that more will come,” he added.
The department would soon roll out a learning module for start-ups and to learn about entrepreneurship. Further, with the interaction and feedback from start-ups, the DIPP has identified about 25 issues including things related with employee stock ownership plans (ESOPs)on which the department is working. Speaking at a session, former DIPP Secretary Saurabh Chandra said there is a need to push the manufacturing sector growth through innovation in order to create jobs and push economic growth of India.