Giving the ‘Startup India’ campaign a go, PM Modi announced last Saturday that the patent fees for start-ups would be reduced by 80 percent to support and protect intellectual Property rights of the entrepreneurs and help them realize their dreams of owning and operating a start-up. The government will also allocate a hefty amount for the operation of this campaign.
PM Narendra Modi released a 30 pages’ action plan to facilitate the journey for the entrepreneurs and for people to better understand the concepts and course of action to be followed. This move has been welcomed by many industrialists and experts who believe that this will not only allow more start-ups to grow in the country, but also help in coming out with indigenous innovations that will take our country towards a better future in terms of economics and industry.
Whole addressing the event meant to promote the Startup India campaign, PM Modi said "Patent fee for start-ups will be reduced by 80 percent. India's future lies in innovation and creativity. Newcomers should get equal opportunities.” He also added that start-ups would be helped by lawyers to file patents for their intellectual properties at no cost at all! This will help people reserve their intellectual properties and delays in patent approvals would be minimized. So if you have a start-up idea and want to be an entrepreneur, this might be the perfect time for you to start.
Abhishek Upadhyay Posted on January 18, 2016
Abhishek Upadhyay is a Web Designer and Content Writer in absolute love with travel and technology, hails from Kolkata and plans to go places in search of inspiration and creativity.
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