New Delhi, March 17: Union Minister of State Dr Jitendra Singh on Friday said that a newly created “herSTART” platform has been introduced to promote women StartUps and to encourage women entrepreneurs.
Addressing the plenary session of the Bharat Startup Summit and Expo 2023 organised by PHD Chamber of Commerce and Industry, the Minister disclosed that the government headed by Prime Minister Narendra Modi has also introduced a monthly allowance of ₹20,000 for up to one year for women-led StartUps”..
Dr Jitendra Singh said that entrepreneurship is embedded in India’s economy and ethos. From the post-independence era with a handful of family controlled industries, until today when India gave more than 100 unicorns to the world, the Indian StartUp ecosystem has gained significant attention, thus making it one of the most coveted global markets, he said..
The Minister said that future trends show opportunities for StartUps to disrupt and innovate with technologies like block chain, the Internet of Things (IoT), artificial intelligence (AI), and machine learning, etc. With the kind of policy reforms that India is headed towards, Startups can play a big role, he added.
Highlighting the increasing presence of women as entrepreneurs, Dr Jitendra Singh said that women-led business enterprises are playing a noticeable role in society by generating employment opportunities in the country, bringing in demographic shifts and inspiring the next generation of women founders.
He added that at least 36 unicorns and potential unicorns in India have at least one woman founder or a co-founder. Govt. of India is committed towards creating an enabling ecosystem for women entrepreneurship through initiatives, schemes, networks and communities and activating partnerships among diverse stakeholders in the Startup ecosystem.
The Minister said, India is fast becoming a breeding ground for innovations. It is shifting to a knowledge-based economic growth model and commits to reinvent its advantages as a labour-intensive, capital-intensive, and manufacturing nation.
Highlighting the pivotal role played by Startups during the pandemic, Dr Jitendra Singh said that when the world was struggling during pandemic, Indian Startups have shifted gears, pivoted and risen to the occasion to adjust to the new normal and have shown some remarkable innovation and growth.
The Minister said that the Startup India Action Plan of the Government is a very important step for strengthening the entrepreneurial ecosystem in the country.
The Minister said that the need of the hour is to forge partnerships with industry and also strengthening of ties between academia and industry to develop cutting edge technologies and products and deliver them in shortest possible time.
