Commerce and Industry Minister Piyush Goyal said that Indian startup ecosystem has made big progress in the last five years since the launch of Startup India.  

Inaugurating the two day ‘Prarambh’, Startup India International Summit begin in New Delhi, the Minister said that the partnership among the BIMSTEC countries in the sector will take startups to the forefront of new India, new world, new neighbourhood in the new normal.   

The Summit is a demonstration of neighbourhood first policy which will booster partnership among the member countries, he said, adding that this will usher in a new beginning, showcasing various aspects of the startup world. 

Goyal said startups have ideas, show enthusiasm and come up with innovations, and hence timing of the Summit during this pandemic is perfect. 

He expressed the hope that the Summit will mark a beginning of a new journey towards new horizon, with hope and encouragement. 

“Growing beyond Government to Government and business to business collaborations, this Summit will ensure startup to startup collaboration, with exchange of ideas and young minds working together collectively to solve problems and assuring prosperity and growth in the region.”, he added.

Goyal expressed happiness that youngsters of today show entrepreneurship inclination who are no more the job seekers but have become job creators. 

India has over 41,000 startups registered with the Government but there are many more who are working at the grassroots level and doing a good work. 

The Minister said that he has been asking the Indian capital to encourage and support the Indian startups at an early stage, but now would request Indian investors and capital to look towards the BIMSTEC startups also to mentor and support them.

The Minister expressed the hope that India along with all the BIMSTEC countries will certainly experience unprecedented growth in the post Covid pandemic world and start a global area of development. 

He said that Prime Minister Narendra Modi’s encouragement to our startups and efforts to create an ecosystem full of innovation, invention and enterprise, will surely work like a battery where a positive attitude and tremendous ability powers the future of startups. 

He said skill development is another important area which would play a very important role in boosting the entrepreneurship spirit and giving confidence to our entrepreneurs. 

He said that he would like to encourage Indian investors to work towards greater engagement so that we can truly demonstrate to the world our commitment to make startups the pillar, on which future economic development will prosper. 

He also expressed the hope that the collective commitment demonstrated by BIMSTEC nations will surely encourage startups in all other countries. 

He said there is a huge potential in the collaboration because we will see new ideas prospering and young minds working together to come up with new ideas, new innovations, new inventions.  Startup to startup collaboration has a huge potential because with this new idea will prosper and young minds will come together to work collectively.