A study of why IPR is vital for start-ups in India: in the present scenario

Abstract

Adding dynamism to the economic system is made possible in large part by entrepreneurship. Globalization and liberalism have brought about a series of adjustments similar to introducing dynamism into the framework. It's a well-known truth that India's economy is on the verge of achieving major milestones in the near future. Amazon CEO Jeff Bezos tells our Prime Minister Mr. Narendra Modi in Washington, D.C., that "India is a nation of entrepreneurs". In order for India to become a "developed" country and a developed economy, it must produce millions of employment. As a result, fostering entrepreneurship will be the final answer to this problem. When money is scarce and expensive, entrepreneurs and small enterprises are particularly susceptible. One of the most important contributions to a country's economic progress is made by entrepreneurs. As a result of the rapid growth of entrepreneurship in India, solutions to some of the country's most pressing problems are being developed. As a result of certain creative ideas and organizations in India being driven by startups, entrepreneurship has emerged as an important contributor to the country's economic progress. Entrepreneurship aids a country's economic growth in several ways. Innovation and product improvement are aided by it, as is the development of new jobs. It's also vital to keep in mind that in India, entrepreneurship-led economic development is more inclusive and so the government has taken efforts like the "startup campaign" to support the entrepreneurial environment.