Hyderabad, India – The Global Entrepreneurship Network (GEN) announced plans recently at the Global Entrepreneurship Summit in Hyderabad to launch a countrywide series of policy panels to explore innovative public-sector approaches to stimulating new firm formation and growth. The series will be an early focus of GEN India, an affiliate of the global platform aimed at making it easier for anyone, anywhere to start and scale a business.
With entrepreneurship on the rise in India, the country has seen a marked improvement in the metrics that measure entrepreneurial aspirations – the growth aspirations of entrepreneurs and the growth potential supported by the ecosystem. GEN India aims to build and strengthen its entrepreneurship ecosystems via efforts to empower public and private sector leaders with tools to capitalize on these rising entrepreneurial aspirations and help realize India’s entrepreneurial potential.
“We are ensuring more states will come forward to draft the right policy to ensure more entrepreneurs are able to setup their shops over here,” said Yatin Thakur, acting managing director of GEN India. “Now more and more states are coming forward to ensure they are providing tax benefits, subsidies, grants, business loans, working capital loans to entrepreneurs to ensure that they setup their companies in their respective states.”
Thakur was joined by GEN India co-founder Srninivas Kollipara of T-Hub, India’s largest incubator for startups, as well as Jonathan Ortmans, president of the Global Entrepreneurship Network. Thakur announced plans to hold six to eight policy panels planned to reach all 30 federal states by the end of 2018. The aim of the panels is to promote entrepreneurship, create jobs and incentivize capital investments and work towards the sustainability of Indian enterprises by creating global market linkages.
“These roundtables look to generate a next level of knowledge about the role of government in the area of digital disruption,” said Ortmans. “That along with the work we do in the research space, along with working together to strengthen communities in parts of India that are currently not participating in the entrepreneurial ecosystem, will be a primary focus of what our work is over the course of the next six to eight months.”
GEN India has partnerships with the U.S. and Indian governments and was announced in Silicon Valley at GES 2016 as U.S. President Barack Obama and India Prime Minister Narendra Modi declared Hyderabad as the next host of the annual summit.
GEN India will appoint 30 state ambassadors who will help guide all organization initiatives including the series of policy panels, national competitions, entrepreneurship celebrations and partnerships in their respective states.
GEN India will provide national leadership in the effort by convening and connecting ecosystem players; amplifying outreach and increasing awareness; evaluating and endorsing tried and tested programs; serving as a source of quantifiable data and qualitative information; and acting as a hub for sharing knowledge and experience – with players throughout India and around the world.