Entrepreneurship Industry News

DIPP to launch portal connecting all eco-systems

Apr 25 The Department of Industrial Policy & Promotion would shortly launch a portal connecting all the eco-systems across the country for the benefit of the start-ups, an official said.

“The soft launch of the portal has already been made to get views from all the stakeholders. The hard launch will be done shortly,” Aastha Grover, advisor (start-up), DIPP said.

Speaking at a seminar of start-ups organised by StartFed and BCCI here, she said the objective of the portal was to bring all the stakeholders together ranging from collaborators, innovators and funding agencies under the same platform.

With bangalore, Mumbai and Delhi being the start-up hubs of the country with 65 per cent of them getting concentrated in the three cities, places like jaipur, hyderabad and kochi were the new upcoming cities in this space, she said.

Nearly 843 start-ups had been already registered with the DIPP following which they would get certain benefits, Grover said adding these would necessarily have to be either private limited liability or public limited liability parnership companies.

“There was a valuation bubble in the past. But now the market is corrected,” she said.

State-owned SIDBI had already floated a Fund of Funds for start-ups of an amount of Rs 10,000 crore from which Rs 643 crore had been already disbursed through the VCs, the official said.

Asked about the success rates of start-ups in India as the country ranked number two in the world in terms of their formation, she said it was too early to judge.

Twelve states had been identified for easy compliance norms where West Bengal did not figure in the list, she added.

Chief advisor of StartFed Kallol Datta said that start-up eco-system in the east was less developed than other parts of the country.

Read More : Outlook India