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Startups cheer the ‘Make in India’ 2015 budget

The Union Budget 2015 is a balanced budget with focus on giving social security to the poor, job creation opportunities for the young and investment to create better physical infrastructure for the companies to grow. The FM has announced a corpus of INR 20,000 crore for lending to dalit entrepreneurs on priority.

Such steps will encourage a large number of entrepreneurs from this section to access funds to grow their businesses and make a contribution to ‘Make in India’ scheme as well.

The Atal Innovation Fund with a corpus of INR 150 crore will ensure fostering of talent and focus on research by entrepreneurs who aim to develop cutting edge technology and be globally competitive. Such initiatives by the government will go a long way to make startups a global force to reckon with. Apart from providing financial support, government keenness to connect the talent here with the international resources will encourage us to launch new business with unique business focus.

India has emerged as the fourth largest hub for startups in the World, according to the Economic Survey 2015. Thus announcement of setting up SETU with a corpus of INR 1,000 crore will help companies like ours working in tech space to scale up our business faster and attract good talent in the ecosystem.

Overall, the Budget this year has provided directions to many important steps like implementation of GST, Gaar put out for 2 years, insurance and pension plans for old and poor segment of the population. The FM has presented a bold budget with the aim to bring the economy back on track.

Arvind Pani

Arvind had seen this gap, which he terms "Digital Language Divide" way back in 2000 and had been looking for an opportunity to address it. However, the mobile phones during those times were considered luxury and language was not a major hindrance. That changed significantly in the last part of the decade and Arvind along with his 2 other co-founders believed it was the right time to start Reverie. He also believed that the challenge of languages could not be solved by addressing any one section of the problem. Thus Arvind envisaged the 3 segments of language usage - text consumption, interaction, and automated processing as the building blocks of Reverie's language platform. Prior to starting Reverie, Arvind worked for Intel, L&T and SAIL in various capacities. Arvind has done his graduation in engineering from National Institute of Technology, Rourkela.