To bolster investment in startups, the government is set to launch the Bharat Startup Ecosystem Registry, a pivotal component of the StartUp India program. This initiative, spearheaded by the Department for Promotion of Industry and Internal Trade (DPIIT), aims to bring together and support the diverse stakeholders within India’s burgeoning startup landscape, according to senior government officials.
Facilitating Investment: The Vision Behind the Registry
The primary objective of the Bharat Startup Ecosystem Registry is to streamline the process of attracting investments, both domestic and international, into startups. By establishing a transparent system, the government seeks to create an environment conducive to the growth and development of these ventures, as outlined by DPIIT officials.
Startup Mahakumbh: Fostering Collaboration and Growth
To further propel India’s startup ecosystem, the government is organizing a two-day Startup Mahakumbh, scheduled to commence on March 18. This event aims to showcase the nation’s startup prowess while fostering collaboration and growth opportunities within the ecosystem.
A Comprehensive Database: Startupindia.gov.in
Accessible through startupindia.gov.in, the Bharat Startup Ecosystem Registry serves as a comprehensive database encompassing various stakeholders, including investors, incubators, academia, government bodies, mentors, and industry bodies. This one-stop platform aims to facilitate connections, collaborations, and catalyze growth within the ecosystem.
Empowering Every Stakeholder
Sanjiv, Joint Secretary (Startup India) at DPIIT, emphasized the inclusivity of the registry, stating, “Through the creation of the Bharat Startup Ecosystem Registry, we aim to ensure that everyone in the ecosystem is acknowledged and supported.” Whether it’s aspiring students or established unicorns, all stakeholders are encouraged to work together to support each other, the officials added.
Leveraging Digital Capabilities for Connectivity
Sumeet Jarangal, Director (StartUp India) at DPIIT, highlighted the transformative potential of the registry, stating, “We are leveraging the strong capabilities of our Startup India portal to create a unified database for the ecosystem.” The registry, he emphasized, represents a game-changing step towards creating a digitally enabled and interconnected startup ecosystem.
Empowering Startups: Incentives and Support
Since its launch in January 2016, the Startup India initiative has recognized 114,902 entities as startups, according to the commerce ministry. These startups, including 54,569 with at least one woman director, gain access to a variety of incentives under schemes such as the Fund of Funds for Startups (FFS), Startup India Seed Fund Scheme (SISFS), and Credit Guarantee Scheme for Startups (CGSS).
Fueling Innovation: Startup India Seed Fund Scheme
One of the flagship schemes, the Startup India Seed Fund Scheme, has been approved for a four-year period starting from FY22, with an outlay of ₹945 crore. Designed to provide financial assistance to startups for various stages of development, this scheme aims to fuel innovation and foster a robust startup ecosystem in the country.
