We have all been acquainted with what has been done by the Government for the Indian Start-ups recently. The Government has announced an exemption from the capital gains tax for the first three years for the innovation-based industries.
This move has marked the implementation of the PM’s action plan for keeping the industrial growth consistent. This country is finally getting a peek at its share of the promised acche din.
But what does this mean for the corporate aspirants of this country? Is it truly a new day? Is it the mark of a new era?
The only way to answer these questions is to concatenate the past and the present situations, and look at how it can possibly bring in a wave of industrial change. IT is certainly getting its slice of the cake as every player can now be hopeful for opportunistic equality.
Developers from all over the country are being brought into the limelight with their creativity and ideas, which would have otherwise been nothing more than a passing thought. It is now feasible to think that sharing of knowledge and skill will bring in the real buck and a gentle push in the direction of success.
Seeking the first round of funding- which is the most crucial step for a start-up, is now a tad easier. The implementation of ideas has become a process that combines vision, grit and intellect, and the fear of corporate giants out-funding the smaller players has marginally diminished.
We have already witnessed the technological shift in the world of mobile technology, with the mind-numbing hardware and software innovations. Now, with this new step, the time has come to witness its combination with creative ideas that can possibly rock the current technological foundations to their core. With the help of this initiative, start-ups can breathe a little easier. The financial limitations that could possibly hold them back may have mellowed down.
This, however, brings in a mix of opinions and emotions related to the progress of the start-up culture in India. Mumbai based IT aspirant Ajinkya Sonawane agrees that this may surely be a great step, but it might also have its share of shortcomings. ‘This system seems to have been developed for those who have an already established idea, which starts to generate income as soon it is implemented,’ says Sonawane.
Sonawane leads an upcoming company that aims at easing the merchants’ burden of customer retention, with the help of his innovative application, and has questions about how this initiative might aid him in the industry. ‘There are numerous conditions imposed on start-ups,’ adds Sonawane, ‘that the newcomers might find irksome. I would manage my expectations and make sure I play my cards cautiously.’
The Government’s initiative has helped make talent hunting a far less challenging task. From the Industrial Recruitment perspective, online employment forums are witnessing a plethora of new employees signing up with hopes of finding better opportunities. For a change, the HR department of start-ups is seeing a change in the attitude of their potential employees.
Moin Gaziyani, the HR head of a South Bombay based IT start-up is hopeful about the future with this change. ‘For the HR department,’ says Gaziyani, ‘the first job is to ensure the creation of a workforce that develops and exploits a perfect synergy which can prove advantageous to the company.’ He further adds, ‘post the implementation of this Government initiative, we have seen an increase in the number of quality applicants. This certainly seems to be good news for Indian start-ups.’
This new move surely seems to be a stepping stone to success for quick ROI based IT start-ups, if the adoption of a well-established business framework takes place. Software developers are showing a keen interest in the emulation of popular applications implemented abroad.
Ideas such as Automated Locomotive Management and Local Traffic Control are already under development in India, pending a working prototype. Thanks to the Government’s initiative, projections indicate a huge inflow of foreign interest in the infrastructural changes taking place in India.
This again has to be studied with the help of two paradigms: Development based on emulation relying on the Royalty Charges owed to the patented technologies abroad, and the investment of the patent holding companies in the concerned start-ups. This certainly means that the Indian start-ups will require a complete overhaul of their business models and will have to speed up the frequency of producing quantifiable deliverables.
All in all, this new move can be interpreted as a fresh start for something new, or as a looming question about its measurable advantages in totality.
Will this only be advantageous for start-ups with lightning fast ROI? Will it prove fruitful for businesses that rely on marketing before bringing in real income? Only time will tell.
Image Source: IndiaFilings.