Synopsis
S. Krishnan, Secretary of MeitY, highlighted the role of startups as key drivers of innovation and economic growth during the STPI SANGAM event. With 44% of STPI-supported startups led by women, the government is dedicated to fostering an inclusive startup ecosystem to tackle real-world challenges and enhance India's global competitiveness.Key Takeaways
- Startups are essential for innovation and economic growth.
- 44% of STPI-supported startups are women-led.
- NGIS has supported 685 startups and created over 7,000 jobs.
- The Open Challenge Programme aims to empower health-tech startups.
- An inclusive ecosystem is vital for innovation.
New Delhi, March 22 (NationPress) Startups are the driving force behind innovation and economic advancement, with their disruptive nature, adaptability, and dedication to addressing real-world problems significantly influencing the future of India, stated S. Krishnan, Secretary of MeitY.
He made these remarks at the 'STPI SANGAM' event held in the capital, which united startups, investors, mentors, and industry leaders.
Notably, around 44 percent of the startups supported by the Software Technology Parks of India (STPI), an autonomous entity under MeitY, are led by women entrepreneurs, many of whom hail from tier 2 and 3 cities.
As per Arvind Kumar, Director General of STPI, the IT Ministry's Next Generation Incubation Scheme (NGIS) has backed 685 startups, awarded seed funding to 136 ventures, and generated over 7,000 jobs.
During the event, S. Krishnan underscored the critical role of startups in molding India's economic landscape.
“Through initiatives like NGIS and platforms such as STPI SANGAM, we are not merely supporting startups but also cultivating an ecosystem where concepts evolve into impactful enterprises. The government is devoted to fostering this environment, empowering entrepreneurs to scale, innovate, and enhance India's competitiveness on a global scale,” stated Krishnan.
A significant highlight of the gathering was the unveiling of the 'Open Challenge Programme (OCP) 6.0' by the STPI MedTech Centre of Excellence (CoE) in Lucknow, developed in partnership with SGPGIMS Lucknow, STPI, AiMeD, and AMTZ.
This initiative aims to enable health-tech startups in addressing tangible challenges related to medical equipment, electronics, and health informatics.
Kumar emphasized that inclusivity is essential for a solid innovation ecosystem.
“Every startup, regardless of its origin in major cities or smaller towns, deserves an opportunity to thrive. It is our duty to nurture their ambitions and furnish them with necessary resources. Today, we not only celebrate startup success stories but also contemplate how to enhance, refine our policies, broaden our outreach, and ensure our startup ecosystem realizes its complete potential,” Kumar remarked.
K.K. Singh, Joint Secretary of MeitY, further reiterated the necessity of developing a robust innovation ecosystem, highlighting that by accelerating startup growth, India can unveil new opportunities, generate jobs, and achieve economic independence.
“India’s startup ecosystem is experiencing unparalleled growth, and STPI has been instrumental in facilitating this change. NGIS has proven to be a game-changer, offering crucial funding, mentorship, and market exposure to burgeoning startups,” he emphasized.
