‘Start-ups in India bring down unemployment rate’

JAIPUR: Start-ups in India are contributing towards bringing down the unemployment rate in the country to a great extent, Software Technology Park of India Director General Arvind Kumar said here on Wednesday.

Kumar was in the city recently to unveil STPI incubation facility. Any NGO registered as a private limited company with a novel idea that meets the set criteria can be taken up as a start-up.

He said, “Currently, around 10,000 start-ups are being supported by us, and these entities have been instrumental in creating thousands of direct and indirect jobs. In the long run, they are going to create a very large volume of jobs, he added. In Rajasthan, there are around 80-85 start-ups being supported by his technology park, he said.

To a question on fear of slowdown and start-up failure, he said, “Start-up failure is gradually reducing in India. Start-up itself means a new idea which needs to find acceptance in the market and hence there are chances of failure and hence comes its name as start-up which means you don’t have hundred per cent chances of success. However, these days, we are working on an idea to bring in the problem statement from industry, so that there are less chances of failure and more chances of acceptability and adaptability, he added.

“We have started doing industry collaborations so start-up failure has reduced. Now, there are industry and academy partners as well and we are also providing administrative support to them,” said Kumar.