SUMMARY
Bharat Startup Ecosystem Registry will serve as a single platform database for startups, investors, incubators, and other stakeholders of the startup ecosystem
The Registry was unveiled by union minister Piyush Goyal, who called startups the backbone of the country, during the curtain raiser ceremony of ‘Startup Mahakumbh’
The Startup Mahakumbh, to be held next month, is expected to host over 1,000 startups and a large number of investors, incubators & accelerators
Union commerce and industry minister Piyush Goyal unveiled a new database for the country’s startup ecosystem, named Bharat Startup Ecosystem Registry, during the curtain raiser ceremony of ‘Startup Mahakumbh’ on Tuesday (February 27).
The Startup Mahakumbh, to be held from March 18-20, aims to bring together all the stakeholders of the startup ecosystem to showcase entrepreneurship, technology and innovation. It is also envisaged to act as a platform for exchange of ideas and inspire youth and students to take up entrepreneurship.
Commenting on the launch of the Registry, Sanjiv, joint secretary at the Department for Promotion of Industry and Internal Trade (DPIIT), said, “Today, the Indian startup ecosystem is growing on all fronts with tremendous support from enablers across the country. To match the pace of the growth of this ecosystem and holistically capture the ecosystem, we are unveiling the Bharat Startup Ecosystem Registry”
The registry will serve as a single platform database for startups, investors, incubators, and other stakeholders in the country’s startup ecosystem.
“We should have data supported figures regarding the entire ecosystem to capture all data. The aim is to unify all stakeholders under a cohesive framework fostering seamless coordination and facilitating networking opportunities. This is a pivotal point in utilising the ecosystem under one umbrella and moving above and beyond recognition,” the joint secretary added.
Startups Backbone Of India
Speaking during the curtain raiser event, Goyal called startups the backbone of the country and asked them to participate in the Mahakumbh.
“…I believe startups are going to be the backbone of new India. It’s (Startup Mahakumbh) going to be the first of hopefully an annual event. It will give a platform to the success stories to showcase what we have built in the last decade and the revolution that ‘Startup India’ has offered to young minds in this country,” the minister said.
He also asked the DPIIT to continue its efforts to promote startups present in various districts in the country through financial and logistical support and ensure that at least one startup from each district gets represented at the Startup Mahakumbh.
The curtain raiser event was attended by Government e-Marketplace CEO Prashant Kumar Singh, SIDBI deputy managing director Sudatta Mandal, senior officials from Export Credit Guarantee Corporation of India, among others. It also saw presence of key figures from the Indian startup ecosystem, including Zomato founder and CEO Deepinder Goyal, Razorpay cofounder and CEO Harshil Mathur, Peak XV Partners MD Rajan Anandan, and Info Edge cofounder Sanjeev Bikhchandani.
The Startup Mahakumbh is expected to host over 1,000 startups spread across 10+ thematic tracks, and a large number of investors, incubators & accelerators from the Indian and global startup ecosystem over a span of three days. It is being organised by Assocham, Nasscom, Bootstrap Incubation & Advisory Foundation, TiE and Indian Venture and Alternate Capital Association (IVCA), and supported by the DPIIT.
It is pertinent to mention that startups have been among the key focus areas for the Centre over the last few years. In order to promote entrepreneurship, innovation, and job creation, the government has launched a number of initiatives like Startup India and Startup India Seed Fund Scheme to foster startups.
Consequently, the number of registered startups in the country are on the rise. The country had over 1.17 Lakh DPIIT-registered startups as of December 31, 2023. Besides, India is also home to 113 unicorns.
