Government Eyeing the Nation’s Start-up Boost
India has witnessed a phenomenal progress in the start-up system in the past few years. The period has been marked by the inception of several startups, the rise of unicorn companies in areas of Robotics, Analytics, EduTech, Health, Financial, and others. These start-ups and entrepreneurs are here to pivot their business model and explore untapped opportunities.
According to the fourth edition of the NASSCOM - Zinov Report titled ‘Indian Startup Ecosystem-Traversing the Maturity Cycle’, it indicates outstanding results compiled with facts, trends and the insights on the Indian Startup Ecosystem. All said and done, but today it’s not just them and the funders. It’s more about the incubators, accelerators and the Government.
With more and more startups and entrepreneurs than ever before and the movement is on the cusp of a revolution, the start-ups need an extended arm to fulfill their potential followed by guidance and access. The Govt.’s initiative and their intervention has made the path easy with making
Today, when every city aspires to be a start-up hub, like Bangalore, the Start-up Capital of the country, the Govt. through this Start-up India hub, is collaborating with Central & State governments, Indian and foreign VCs, angel networks, banks, legal partners, consultants, universities, and R&D institutions. Thus, the focus is on obtaining financing stability, feasibility testing, enhancing skills, technology commercialization, management and evaluation.
Start-ups will be assisted through their lifecycle with focus on obtaining financing, feasibility testing, enhancement of marketing skills, technology commercialization, and management evaluation, etc.
Soon, the Indian startups backed by government’s support will be instrumental in transforming India. Allowing fascinating possibilities for emerging businesses to thrive and establish in the world with their innovative ideas and solutions, irrespective of a metropolitan, Tier 1 or Tier 2 founding base
These initiatives will undoubtedly galvanize the start-up ecosystem and provide national and international visibility. On the macroscopic level, it will contribute to the Indian economy by enhancing citizen’s life, building innovative solutions and generating scope for stakeholders.
Soon, the Indian startups backed by government’s support will be instrumental in transforming India. Allowing fascinating possibilities for emerging businesses to thrive and establish in the world with their innovative ideas and solutions, irrespective of a metropolitan, Tier 1 or Tier 2 founding base.
To name a new Govt. funded startups are CureFit, Flyrobe, GrabonRent, Sequretek and the list goes on and on...