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Start-up Ecosystem In India

[pib] BHASKAR Platform for India’s Startup Ecosystem

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Why in the News?

The Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce and Industry, has launched the BHASKAR platform.

About BHASKAR Platform

Details
Platform Name Bharat Startup Knowledge Access Registry (BHASKAR)
Launched By Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry
Objective To strengthen India’s startup ecosystem by centralizing resources and facilitating collaboration
Target Audience Startups, investors, mentors, service providers, and government bodies
Key Features
  • Networking and Collaboration: Connects startups, investors, and mentors, enabling interaction across sectors.
  • Centralized Access to Resources: Provides instant access to critical tools, knowledge, and resources for startups, enhancing decision-making and growth.
  • Personalized BHASKAR IDs: Each stakeholder (startup, investor, mentor) receives a unique ID for tailored interactions and services.
  • Enhanced Discoverability: Users can easily search and find relevant resources, collaborators, and opportunities using powerful search features.
  • Access to Funding Opportunities: Facilitates connections between startups and potential investors for funding.
  • Global Outreach: Supports cross-border collaborations and fosters India’s global presence in the innovation ecosystem.
Impact
  • Promotes innovation, entrepreneurship, and job creation
  • Enhances India’s status as a global leader in startups

Growth of the Startup Ecosystem

  • As of May 2023, India boasts over 99,000 officially recognized startups, making it the third-largest startup ecosystem globally. This growth reflects an increase from 84,012 startups in 2022 and a notable rise from just 452 in 2016.
  • The ecosystem has also produced 108 unicorns, startups valued at over $1 billion, collectively worth approximately $340.80 billion

PYQ:

[2015] “Success of ‘Make in India’ program depends on the success of ‘Skill India’ programme and radical labour reforms.” Discuss with logical arguments.

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