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The Indian government has unveiled plans to facilitate investments in startups through the Bharat Startup Ecosystem Registry, a key component of the StartUp India program. This initiative aims to unite and support various stakeholders within India’s vibrant startup ecosystem, according to senior government officials.
Facilitating Investment
The Bharat Startup Ecosystem Registry is envisioned as a platform to help startups attract investments from both domestic and global players. By creating a transparent system, the government seeks to foster investor confidence and support the growth of these ventures, as highlighted by officials from the Department for Promotion of Industry and Internal Trade (DPIIT).
Startup Mahakumbh
In tandem with the launch of the registry, the government is organizing a two-day Startup Mahakumbh from 18th March. This event aims to showcase India’s startup prowess and facilitate collaboration and growth within the ecosystem.
Comprehensive Database
Accessible at startupindia.gov.in, the registry serves as a comprehensive database encompassing various stakeholders such as investors, incubators, academia, government bodies, mentors, and industry bodies. It provides a centralized platform for stakeholders to connect, collaborate, and drive growth within the ecosystem.
Government’s Perspective
Sanjiv, Joint Secretary (Startup India) at DPIIT, emphasized the inclusive nature of the registry, stating that it aims to acknowledge and support everyone in the startup ecosystem. He highlighted the importance of collaboration among diverse stakeholders, ranging from aspiring entrepreneurs to established unicorns.
Support for Startups
The registry is expected to facilitate access to investments for startups, according to Sanjiv. Sumeet Jarangal, Director (StartUp India) at DPIIT, emphasized the registry’s role in creating a digitally enabled and interconnected startup ecosystem, leveraging the capabilities of the Startup India portal.
Startup India Initiatives
Since its launch in January 2016, the Startup India initiative has aimed to nurture innovation, encourage investments, and build a robust homegrown startup ecosystem. Over 114,902 entities have been recognized as startups under this flagship initiative, with a significant proportion having at least one woman director.
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Incentives for Startups
DPIIT-recognized startups gain access to various 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). The Startup India Seed Fund Scheme, approved for four years with an outlay of Rs.945 crore, aims to provide financial assistance for various stages of startup development.
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