A platform designed by researchers from the Indian Institute of Technology, Madras, in collaboration with the IIT Madras-incubated startup YNOS, has been launched by India’s G20 Sherpa Amitabh Kant. This platform, titled ‘Intelligence Platform on Government Funding Schemes for Start-ups,’ is aimed at boosting the startup sector by providing comprehensive access to government funding schemes. It consolidates information from over 100 central government and state government schemes and central public sector companies.
The initiative is the result of extensive research and data collection led by Professor Thillai Rajan, Principal Investigator of CREST (Centre for Research on Start-ups and Risk Financing), in partnership with the Department of Management Studies at IIT Madras.
The platform offers entrepreneurs a detailed understanding of the government funding landscape for startups, including analytics on the impact of these schemes. It provides information about the startups that have benefited from the schemes, the average financial investment received, the age of the startups when funded, the number of founders, and the age of founders when they received financial support.
Additionally, the platform supplies contact details and social media links for each scheme, enabling entrepreneurs to gather more information if they are interested. Detailed reports on each scheme can also be easily downloaded.
Professor A Thillai Rajan, Principal Investigator of CREST, emphasized that the platform was created to address the information challenges faced by entrepreneurs and stakeholders in the Indian startup ecosystem. He remarked, “The motivation for developing this platform was driven by the information challenges faced by entrepreneurs and other stakeholders of the Indian start-up ecosystem. Information was scattered, not easily accessible, and did not address the needs of the stakeholders. CREST, an Institute of Eminence Research Centre of IIT Madras, chose to demonstrate its global research leadership by addressing this national challenge. The result was the creation of a global standard intelligence platform in the Indian start-up ecosystem that addressed the information challenges faced by early-stage entrepreneurs.”
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In 2016, the Indian Government introduced the Start-up India initiative, a distinctive program with no historical equivalent in independent India. This initiative stands out as a remarkable example of policy convergence and collaboration across various government departments and ministries. The robust policy backing has propelled India to emerge as one of the world’s largest startup ecosystems, a distinction unparalleled in the Global South.
