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Harvard-Led Committee Proposes Ways to Increase Entrepreneurship in India

Harvard-Led Committee Proposes Ways to Increase Entrepreneurship in India

A 15-member committee led by Tarun Khanna, Jorge Paulo Lemann professor at the  Harvard Business School and director of Harvard’s South Asia initiative along with reputed business and academic leaders of the National Institution for Transforming India Aayog, or NITI Aayog – a Government of India policy think-tank – have come up with a report that uses a pyramidal approach to highlight the problems with the Indian startup ecosystem and have suggested short- and long-term initiatives to transform the entrepreneurial scenario in the country says VCCircle.

Key Takeaways:

Step 1: Driving InnovationStep 2: Improving Business EnvironmentStep 3: Social Inclusion
Encourage competitions and ensure substantial rewards to solve economic and social problemsCreating a national IPR platform and a unique ID for all businessesIncentives to enter the high potential sectors via the Make in India program
Create virtual incubators and rank them.Digitization of tax by 2017 and removal of Angel TaxPromotion of entrepreneur programs in the marginalized population, women and the rural population
Allocate 1 % of corporate profit to universities and researchCreation of an Entrepreneurship Index akin to the Kauffman Index in the U.S.

 

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