Page 3 - 201909G20Entrepreneurship Newsletter

India: Govt Tells Institutes to Use 1% of Budget for Supporting Startups

The Human The guidelines also stated that the students and faculty members
Resour c es can obtain intellectual property licenses from their educational
De v el opment institutions and can work part-time at start-ups during their studies.
Department of India This entrepreneurial policy framework was launched by Ramesh
issued guidelines Pokhriyal, Minister of Human Resources of India. Pokhriyal said that
requiring domestic India hopes to become a $5 trillion economy by 2024. To achieve
higher education this goal, India needs to become a global center for innovation and
institutions to set entrepreneurship.
aside at least 1%
of their annual budget for setting up an innovation fund to fund and According to this policy framework, student entrepreneurs can
support innovation and start-ups. These institutions also need to take the test even if the attendance rate is lower than the school's
establish pre-incubation and incubation centers that will be open to minimum standard; students and faculty members can take a
students and faculty members around the clock (24x7). semester or a year to work in a startup, and then return to their
previous academic or teaching work. Based on the support provided,
The Indian government plans to rank all its major educational educational institutions can also obtain 2% to 9.5% equity/equity of
institutions and universities, based on their efforts to promote the startup.
innovation and entrepreneurship.

European Startup Festival Brings Together All Stakeholders of Entrepreneurship

European Startup Festival is an event which brings together different competitions which were held in five
stakeholders in Europe including start-ups, various industries, different countries (UK, Austria, Sweden,
investors, universities, public agencies, cities, and incubators/ Italy, Armenia). There were over 150
accelerators. It’s an important opportunity for learning from high- start-ups from across Europe applying
profile experts, networking, collaborating with inspiring entrepreneurs for the Pitching Matches but only a few
and creating new European projects. The European Startup Festival is made it in front of the judges.
held in Malmö this year between 20-22 September 2019.
All Stakeholders in One Community
Masterclasses by High-profile Experts
They created this European community for all stakeholders: start-
The conference offers interactive panels and meaningful networking ups, investors, public and private agencies, cities, accelerators,
opportunities as well as masterclasses which are run by high-profile incubators, co-working spaces, event organizers and universities.
expert speakers. The masterclasses will give new perspectives to Their mission is to create a functional, borderless, cooperative
entrepreneurs and other participants. The organization will also European Startup Ecosystem. This is to help exceed the territorial
hold effective roundtable discussions for the different stakeholders limits, boost international business opportunities for promising
to learn from each other, how to collaborate to grow, face new startups and share knowledge and experiences.
challenges and create innovative European projects.
Hundreds of participants attended the event from different European
Selected Startups Meet Investors countries but also China, India and African countries. The Festival is
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an annual event organized by the European Startup Association; this
The meetings between start-ups and investors will enable selected year will be the second edition of the conference. The first European
start-ups to meet investors and help to build important network for Startup Festival was held in Turin, Italy in September 2018.
their business. These promising entrepreneurs were selected through

Italian Startup Fund Tops EUR 1 Billion in Loans

Italy's ministry for economic development (MiSE) has announced that a total of over EUR
1 billion in loans has been awarded to innovative startups under its SME Guarantee Fund
programme since it was launched back in 2013. The initiative has awarded grants of up
to EUR 2.5 million covering 80 percent of the value of the project to some 2,858 startups,
including EUR 66 million in the second quarter of 2019 alone. Italy's ministry for economic
development (MiSE) has announced that a total of EUR 200 million in grants will be awarded
to innovative startups under the new “Smart&Start” initiative. The program will be run by
state investment body Invitalia and its scope will be nationwide for the first time. Grants for up
to 80 percent of the value of the project – ranging from EUR 100,000 to EUR 1,500,000 – will be
available to new ventures or startups set up less than 48 months ago. The first edition of the
Smart&Start initiative, which was only open to startups in southern Italian regions, saw around
370 grants handed out within the space of a year.