Commerce and Industry Minister Piyush Goyal has said that new start-ups should emerge across India, especially in Tier II and Tier III cities, to catalyse employment generation, and strengthen forward and backward linkages.
The Minister took suggestions from representatives of top institutions and businesses on how to improve the start-up eco-system by various initiatives such as creating seed funding platforms, suitable mentorship programmes, expanding the number of languages used, and improvement in digital mapping, an official told BusinessLine.
Chairing the virtual meeting of National Startup Advisory Council on Monday, the Minister said the government was committed to cut red tape, improve ease of doing business, provide financial assistance through startup seed fund, support incubators and enhance skills, Goyal said.
This holistic approach has intended to resolve the issues relating to capital mobilisation, support innovation with tinkering labs and meet the capacity & capability requirements of startups, he added.
The meeting was attended by officials and business representatives including LIC Chairman M R Kumar, National Health Authority CEO R S Sharma, CEO, Sequoia Capital MD Rajan Anandan, NASSCOM President Debjani Ghosh, and Avaana Capital Founder Anjali Bansal.
The 21 start-ups making it to the unicorns list in last six months inspired all to dream big and achieve bigger, Goyal said. With nearly 60 unicorns, India has one of the largest start-up stable in the entire world.
The Minister said that the industry must help create `Startup Superstars’ by identifying innovators and investing in talent, per an official release.
“Our aim must be to make our startups grow beyond our geographical boundaries & create global impact,” Goyal said.