MeitY Builds A Startup Hub For Stakeholders

Union Minister for IT and Electronics, Ravi Shankar Prasad, will later this week formally inaugurate the platform, the place almost 1,000 startups and 130 incubation centres have at the moment gone stay.

The Ministry of Electronics and IT, which arrange the “social media platform for startups”, has appointed former entrepreneur Deepak Agarwal, who will put collectively a staff to run the platform, a authorities official informed ET.

The platform lists startups in keeping with their space of experience or the state they belong to, and can act as a facilitator to carry collectively all present programmes and join startups to the precise expertise, mentor or VC fund.

Though there are a lot of incubation centres or startups scattered throughout the nation, a typical hyperlink that connects them is lacking, the official mentioned.

“By this platform, a startup in a small metropolis can attain out to a mentor specialised in its space sitting in one other a part of the nation, which was earlier not doable,” the official mentioned.

India ranks because the third largest startup ecosystem on this planet, with greater than 7,200 startups.

Over the previous few years, the federal government has centered on growing the nation as an enormous hub for startups.

The trouble has included making the method of establishing an organization simpler, resolving the angel tax challenge and establishing a superb ecosystem for startups to flourish.

Semiconductor big Qualcomm and banking chief HSBC, together with associations such because the Confederation of Indian Trade, have partnered with the federal government on the initiative up to now.

By the platform, startups will get a devoted webpage to showcase their enterprise, connect with incubation centres, search steering from mentors, profit from authorities schemes, entry centres of excellence, and avail R&D amenities and labs.

Programmes to attach startups with enterprise capital corporations or angel buyers, create collaborative platforms for numerous corporations to work collectively and supply studying repositories, are additionally within the works.

“Buyers may take a look at the platform to get entry to startups which might be doing path breaking work in an upcoming space and take a look at funding them, however this half will come later,” the official mentioned.―Newpaper24