Union Minister Piyush Goyal Launches BHASKAR to Boost Indian Startups
New Delhi, India – On Monday, Union Minister of Commerce and Industry Piyush Goyal launched the Bharat Startup Knowledge Access Registry (BHASKAR) under the ‘Startup India’ program. BHASKAR, meaning ‘Rising Sun,’ aims to bring enlightenment, growth, and collaboration to the startup ecosystem.
Goyal emphasized that BHASKAR will integrate dreamers, doers, and disruptors, helping entrepreneurs kickstart ambitious revolutions. The platform will promote a socialized, democratic, and globally visible startup ecosystem, aiding in building ‘Brand India’ and changing the global image of India.
Highlighting Prime Minister Narendra Modi’s vision, Goyal stated that Startup India’s strength will contribute to India’s growth story. He encouraged Indians to become job creators and view failures as stepping stones to success. Goyal also suggested setting up a Section 8 company to bring the National Startup Advisory Council (NSAC) within the new startup company and proposed handing out shares to recognize and encourage unicorns.
Goyal expressed the government’s desire for the startup industry to be independent and globally competitive while maintaining integrity and quality. He envisioned BHASKAR as a one-stop digital platform for data dissemination, interaction, and growth of the startup ecosystem across India and beyond. He also hoped for an enhanced BHASKAR 2.0 release soon.
Secretary DPIIT, Amardeep Singh Bhatia, praised the initiative, calling for concerted efforts from the entire startup ecosystem. He highlighted that BHASKAR will foster greater connectivity between startups, especially in tier-2 and tier-3 cities, ensuring inclusive innovation and accessible opportunities.
Joint Secretary DPIIT, Sanjiv, outlined the pivotal role of startups in India’s growth and how BHASKAR will accelerate this growth. He emphasized that BHASKAR will provide comprehensive access to resources, serving as a guiding light for startup ecosystem stakeholders.
The Department for Promotion of Industry and Internal Trade (DPIIT) hosted the launch event, aiming to unify and empower India’s startup ecosystem. With over 1.4 lakh DPIIT-recognized startups as of August 2024, India has one of the largest and most vibrant startup ecosystems globally. BHASKAR aims to challenge incubators, policymakers, and other stakeholders to ensure ease of accessibility and traceability.
Key Value Propositions for BHASKAR
- Industry Alliances: Opportunities for cross-collaboration across sectors, industries, technologies, and regions.
- Dynamic Networking: Connect and collaborate with like-minded people via personalized dashboards and peer-to-peer connect features.
- Enhanced Visibility: Use profile cards to be discovered across the startup ecosystem.
- Personalized Identification Number: Get a BHASKAR ID tied to your profile for a personalized dashboard and access to various services.
BHASKAR aims to be the largest digital registry of the startup ecosystem globally, housing stakeholders under one roof for seamless collaboration, knowledge sharing, and innovation.
Doubts Revealed
Union Minister -: A Union Minister is a person who is in charge of a specific department in the government of India. They help make important decisions for the country.
Piyush Goyal -: Piyush Goyal is an Indian politician who is currently serving as a Union Minister. He has held various important positions in the government.
BHASKAR -: BHASKAR stands for Bharat Startup Knowledge Access Registry. It is a new platform to help Indian startups get the resources and support they need.
Startup India -: Startup India is a government initiative to encourage and support new businesses in India. It aims to make it easier for people to start and grow their own companies.
tier-2 and tier-3 cities -: Tier-2 and tier-3 cities are smaller cities in India. They are not as big as major cities like Mumbai or Delhi but are still important for the country’s growth.
inclusive innovation -: Inclusive innovation means creating new ideas and technologies that everyone can benefit from, not just people in big cities or with lots of money.
ecosystem stakeholders -: Ecosystem stakeholders are all the people and organizations involved in the startup world, like entrepreneurs, investors, and mentors.