The latest reports hint launch of a dedicated startup hub in India shortly. Put together by the Ministry of Electronics & IT, the hub will serve as a platform to interlink entrepreneurs, incubators, mentors, investors, accelerators, and VCs, and spark conversations among the stakeholders in the startup ecosystem.
According to reports by ET, the platform plans to launch later this week by the Union Minister for Electronics and IT, Ravi Shankar Prasad, where around 1,000 startups and 130 incubation centers have gone live.
A government official said that despite having an abundance of incubation centers or startups scattered across the country, there had been a lack of a link connecting them all.
Making India a startup nation
With over 7,200 startups, India ranks as the third-largest startup ecosystem. The government, over the last few years, has focussed on developing India as a big hub for startups, promoting PM Modi’s initiative-‘Make in India’. The efforts include making the process of setting up a firm easier, solving the angel tax issue and thus, establishing an excellent ecosystem for startups to flourish.
The platform would furthermore be instrumental in bringing visibility to the startups and display their various innovations and enterprises through a devoted webpage. The platform would also assist the startups in connecting them with the primary stakeholders in the ecosystem and seek guidance from prominent leaders and mentors from the industries. They would also benefit from various government schemes and connect with the host of VCs (venture capital) and angel investors.
The official added,
“Investors can also look at the platform to get access to startups that are doing path-breaking work in an upcoming area and look at funding them, but this part will come later.”