National Student Startup Policy – Is it Beneficial at All?

National Student Startup Policy (NSSP) was launched by Pranab Mukherjee, The President of India. It was launched during the second visitor’s conference. The startup policy was formulated by All India Council for Technical Education (AICTE) and it is aimed at channelizing the power of youth towards socio-economic infrastructure. The plan is formulated under the Startup India Stand up India policy.  The technology-driven startups will be promoted through the initiative. Talented youth can take advantage of the opportunity and they will be able to exhibit their entrepreneurial skills to fulfill their big dreams in life. However, many speculations have been made regarding the feasibility and practical implementations of the policy. Millions of youth in the country have stated that the startup policy hasn’t been implemented practically.

Millions of youth have stated that the startup policy hasn’t been implemented practically.

However, the central government shares that it is on schedule to implement the NSSP. Let’s go through the features and importance of National Student Startup Policy below.

Features – National Student Startup Policy

Here are some salient features of National Student Startup Policy:

  • The National Student Startup Policy is targeted to provide employment opportunity to one million youth.
  • It is intended to draw one lakh technology-based startups during the coming 10 years.
  • The policy intends to train youth to manage best soft skills so that they will be absorbed by the industry very easily.
  • There will be an improvement in the decision-making skills.
  • By promoting partnerships among technical institutions, the employment potential will be very much enhanced.

Importance of NSSP

The number of jobs created per year should be in tune with the population growth in India. If the youth is unemployed, there will be a great frustration. To avoid the unrest in youth, new jobs should be created on a consistent basis. In this process, the youth can be channelized towards the progress of the nation.

The second visitors’ conference was attended by various eminent personalities including vice chancellors, directors and director generals of various institutions. Thus, all the heads of the higher education institutions were brought together in one forum to discuss the framework for the development and employment of youth.

Separate conferences were held in the past for Vice Chancellors of Central Universities, Directors of NITs, Directors IITs, IISC, and IISERs.

Program implementation

As per the policy, there will be changes in the curriculum to put more emphasis on skill-based courses. Furthermore, there will be 40% courses based on skills, 30% courses based on knowledge and 30% courses based on attitude.

Start-up fest will be organized at a national and international level to take care of the needs of students. Most important, venture fund to the extent of Rs. 10,000 crores will be invested in support of the startups. These funds should be registered with SEBI.

Science and technology students will be encouraged to enhance their entrepreneurial skills. They will also be able to convert research projects into successful workshop startups.

Social responsive attitude will be imbibed in students who are undergoing education at AICTE approved institutions. Students living in rural areas will be supported and guided to figure out the most appropriate and workable startup.

The NSSP is intended to equip students with the right set of skills and resources to start startups confidently and pursue them successfully. When startups are successful, they will be instrumental in channelizing the resources by providing employment and guidance.

The tech startup landscape will be very aggressive with the preface of NSSP. Most important, the policy is intended to support the ecosystem of entrepreneurship. The fulfillment of the desires and aspirations of millions of youth can also be fulfilled with the ambitious project, NSSP. Hope this delivers the goods towards the nation building!

Rutavi Bhatia

Author at Coworking India Magazine. I love writing about entrepreneurship, innovation and technology.