The Indian Wire » Startups » Union minister Ravi Shankar Prasad to flag off startup hub platform this week

Union minister Ravi Shankar Prasad to flag off startup hub platform this week

The Indian startup ecosystem is all set to get its hub for startups, which will act as a platform to connect with incubators, accelerators, mentors, and eventually, angel funds and venture capitalists, reported Inc42.

A government official said that the platform is expected to be formally launched by union minister for IT and Electronics Ravi Shankar Prasad later this week.

India is seen as the third- largest startup ecosystem of the world, and it is working towards enabling ecosystem conversations through mentorship, peer-to-peer support and more through a dedicated startup hub.

The report further added that the platform currently has nearly 1,000 startups and 130 incubation centres.

Deepak Agarwal, a former entrepreneur, will be managing the platform and will put together a team to run the it.

The idea for the platform is to list startups according to their area of expertise or the state they belong to. It will then act as a facilitator to bring together all existing programmes and connect startups to the right talent, mentor or VC fund.

Through this platform, startups will get a dedicated webpage to showcase their enterprise, connect to incubation centres, seek guidance from mentors, benefit from government schemes, access centres of excellence, and avail R&D facilities and labs.

Furthermore, the government is also working on programmes to connect startups with venture capital firms or angel investors, create collaborative platforms for various firms to work together and provide learning repositories.

Recently, Prime Minister Narendra Modi said that the Indian startup ecosystem will help India achieve the $5 trillion target for the economy set by the government.

Modi also highlighted that India is one of the top-three startup ecosystems in the world and lauded Tier 2 and Tier 3 startups for powering the startup ecosystem.

The prime minister also claimed that the world is looking at new India as a land of unique opportunities.

The Startup India scheme has played a significant role in channelling the entrepreneurial spirit of India’s innovators and has penetrated Tier 2 and 3 markets as well. With plenty of initiative from the central and state governments, startups and early-stage businesses have been given every encouragement and incentive to grow and innovate.

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