StartFed aims to enhance start up ecosystem in Eastern India

StartFed, which is more like a chamber of commerce has been set up to provide a range of assistance to all aspiring entrepreneurs and help them for their start up ventures in Eastern India.

The organisation is playing a middle role between several aspects of an entrepreneurship ecosystem like small startups, serial entrepreneurs, unicorns, mentors, accelerators, seed funds, angel investors to help the all those who are aiming to start up.

Kallol Dutta, founder of StartFed, explained various factors that impedes the growth of startup culture in this part of the country compared to other states.

"West Bengal is no dearth of ideas and talents but it lacks proper ecosystem. Entrepreneurs are not aware about the facilities and funds provided by the government for starting up," Dutta said.

He even highlighted the current situation where the start ups have lower access to the mentor and this is where the StartFed is playing a major role by linking them.

Terming the StartFed as an "awareness programme", Dutta favoured disruptive ideas as the most important way to succeed in the entrepreneurship and not by "copying others". 

Suman Mukhopadhyaya, Consultant (Entrepreneurship) Department of Industry, Commerce and Enterprises (IC&E) from West Bengal government, spoke about various ways the state government is trying to help the startups for their success.

"We have created startupbengal.in website where all information are given regarding the facilities, incentives for incubators and available bankers" Mukhopadhyaya said.

Speaking about the efforts taken by the government of WB to create start up ecosystem, Mukhopadhyaya said: "We have organised Egiye Bangla television show to celebrate entrepreneurship as well as mentors network. We need more mentors."

However, he expressed displeasure on the kind of ideas the aspiring entrepreneurs are coming up with and suggested for better innovations.

Representative from the government of Bihar, Ravindra Prasad, spoke about several facilities which are offered by them for the start ups.

He highlighted the financial assistance offered by the Bihar government to the incubators along with 15% incentive for people belonging to Scheduled Caste, Scheduled Tribe, disabled persons and women.

L N Gupta of Odisha government informed that start ups registered in any part of the country can work in this neighboring state, provided that it employs 50% of the workforce from Odisha.

Lending support to aspirant entrepreneurs verbally, Gupta stressed on hard work and knowledge regarding the customer's need are key to success in start ups.

Aastha Grover from the central government who was also present at the meet, mentioned some of the benefits provided to the start ups which includes hand holding legal support, funding or incentive, funds of funds and several others.

(Reporting by Souvik Ghosh)