According to the latest reports, India is likely to set up a dedicated start up hub in the near future. The hub formulated by the Ministry of Electronics and IT (MeitY) is a platform that brings different players in the startup ecosystem namely, entrepreneurs, investors, mentors, Venture Capitalists.
The platform which is likely to ignite conversations between these stakeholders, is supposed to be officially launched later this week by Ravi Shankar Prasad, the Union Minister for IT and Electronics. The task of assembling an able team to manage this platform has been given to former entrepreneur Deepak Agarwal, as per the reports.
A government official also said that this platform has the potential to reach to the remotest part of the country. It connects two different locations without the need for a travel. It’s more like how an outsourcing job works, where one person sitting in one part of the world works for another one based in a different country.
Everyday we get to hear about the success of a startup— a strong notion that is active amongst the youth of the country. With about 7500 startups, India currently is among the biggest startup ecosystem across the world. Thus, with setting of a dedicated start up hub, mentors, incubators can offer the right support and capital to the innovative and unique startups.
Additionally, what makes this move instrumental is that the platform would have a dedicated webpage, giving ample opportunity to the startups to showcase their talent, innovation. In the process, also helping them connect with key stakeholders in the startup ecosystem. One thing that budding entrepreneurs are not able to differentiate is how the market will pan out in the future. This can be sorted with various benefits such as guidance from prominent mentors. Besides this, they can avail various benefits through government schemes.
About 1,000 startups and 130 incubation centers are already live on this startup hub. In the future as well, the platform is very likely to boost the overall morale of everyone linked to this ecosystem.