The 3rd Meeting of National Startup Advisory Council, held last week, discussed some important issues regarding the entrepreneurship ecosystem of the country. This council was constituted by DPIIT to advise the Government on measures needed to nurture innovation and startups to push sustainable economic growth and generate employment opportunities, and the last week meeting shed light on some key issues.

Among the interventions discussed include National Capacity Building Programme for Incubators, pushing manufacturing startups, empowering the larger pool of Family Offices and HNIs to invest in startups, accelerating deep-tech startups, establishing an international platform to help startups go global, encouraging women entrepreneurship, and a holistic programme aiming at enabling global mentorship, market access, international opportunities and B2B connects.

It is notable here that 45% startups in India are from Tier 2 and 3 cities and 623 districts have at least 1 recognized startup. It is equally interesting that Indian startups have turned COVID-19 crises into an opportunity and made 2021 the year of Unicorns with 79 Unicorns now thriving. These figures reflect that our startup ecosystem is gaining strength with every passing day, and a comprehensive government strategy at this crucial juncture can act as a catalyst.

Meanwhile, according to latest figures, 68% Mudra Yojana accounts are held by women entrepreneurs, availing 44% of sanctioned amount. These figures reflect the fact that an increasing number of women are now embracing entrepreneurship as a viable employment opportunity. During the Covid-period also Women Self Help Groups from Northeast have led from the front in providing bulk supply of face-masks in different innovative designs and colors.

Wish you all a happy and successful New Year.