National Startup Day | UPSC Current Affairs

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Context

January 16 is observed as National Startup Day every year in India. The event is being celebrated since 2022.

About Startup India

Launched on 16th January, 2016, the Startup India Initiative is an initiative of the Department for Industrial Policy and Promotion (DPIIT). It strives with the objective of supporting entrepreneurs, building a robust startup ecosystem and transforming India into a country of job creators instead of job seekers.
Under the Startup India Initiative,the key pillars include

Simplification and Handholding - Easier compliance, easier exit process for failed startups, legal support, fast tracking of patent applications and a website to reduce information asymmetry.
Funding & Incentives - Exemptions on Income Tax and Capital Gains Tax for eligible startups; a fund of funds to infuse more capital into the startup ecosystem and a credit guarantee scheme.
Incubation & Industry-Academia Partnerships - Creation of numerous incubators and innovation labs, events, competitions and grants.

National Startup Day 2023

To celebrate the spirit of Indian startup ecosystem and mark this momentous day, DPIIT (Department for Promotion of Industry and Internal Trade) is organising Startup India Innovation Week from 10th – 16th January 2023.
As part of the 7-day long Startup-India Innovation Week, several events to reach ecosystem stakeholders and enablers are being taken up across the nation.
Industry Focussed Webinars to learn from the enablers are to be organised.