Goyal also asked businesspeople to dedicate a portion of their wealth for the early-stage investing in indigenous startups
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Union minister for railways, commerce, and industry, Piyush Goyal on Wednesday announced that Invest India will pioneer a dedicated helpdesk for startups which will act like a bridge and can work across ministries to sort out queries which startups may have.
To further help the startup ecosystem, he said, “It would be optimum if the ministry and Invest India (National Investment Promotion and Facilitation Agency) have a help desk which looks into the issues of the startups.”
Stressing on the government’s initiative he said under the Atmanirbhar Bharat packages, reforms were initiated which focused on encouraging startups and entrepreneurs.
Commenting on the recently formed National Startup Advisory Council he said the advisory council will act as a bridge between policy makers and startups, so that on a real-time basis the government can act to support startups to succeed. It’s a body for the startups, and will work relentlessly to help them government and policy makers to act accordingly to the needs of the startups.”
Goyal also asked successful entrepreneurs and businesspeople to dedicate a portion, around INR 10,000 crore, of their wealth for the early-stage investing in indigenous startups.
While giving a keynote at Resurgence TiEcon Delhi-NCR, the minister compared India’s recent triumph over Australia in a cricket series to that of the startup ecosystem.
He noted that young bowlers who played a crucial role in defeating the Kangaroos at their home were “groomed” from the Indian Premier League (IPL), a startup that has now transformed into a $2 billion enterprise. “It (IPL) has given a platform to our youngsters to be able to get into the game of cricket. Give them an opportunity to show their skills in cricket and prepare them to serve for the test team or national team,” he added. He further added that the bowling side which barely had an experience of six matches did wonders. “I think it is that spirit of newness and engaging of unknown that has defined the startup and startup ecosystem in India.”
He observed that resilience, resurgence and recovery is how startups demonstrate their skills and capabilities in the world and emerge successfully.
He called startups as disruptors. “I am sure through our startup we will transition from a screwdriver economy through a technology-driven economy, from an assembly economy to a value-addition economy.”
He said India can further innovate in chip technology, design, fabrication, alternative energy sources, urban mobility, cybersecurity, drones as these will shape the future.
He added that Indian entrepreneurs have the ability to create the next Google, Microsoft, SpaceX and Apple.