The Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce and Industry, is set to launch the Bharat Startup Knowledge Access Registry (BHASKAR) initiative. This platform aims to centralize and streamline collaboration within India's startup ecosystem, connecting key stakeholders such as startups, investors, and incubators. The BHASKAR initiative is part of the broader Startup India program, which seeks to foster innovation and encourage investments in the country.
Key Features of the BHASKAR Initiative
Networking Opportunities: BHASKAR will bridge the gap between startups and other stakeholders, creating a seamless platform for interaction across sectors.
Centralized Resource Access: Startups will have immediate access to critical tools, knowledge, and resources, enabling faster decision-making and improved scaling opportunities.
Personalized Identification: Each stakeholder will be assigned a unique BHASKAR ID, providing personalized interactions and a tailored experience across the platform.
Enhanced Discoverability: The platform’s powerful search features will allow users to easily find relevant resources, collaborators, and opportunities, driving faster decision-making.
Global Branding: By promoting India’s startup ecosystem globally, BHASKAR will make it easier for startups and investors to engage in cross-border collaborations, boosting India’s reputation as an innovation hub.
India’s Thriving Startup Ecosystem
India boasts the 3rd largest startup ecosystem in the world, with over 1,46,000 DPIIT-recognized startups. To be recognized as a startup by DPIIT, businesses must meet the following criteria:
Must be incorporated as a private limited company, partnership firm, or limited liability partnership.
Must have a turnover of less than ₹100 crore in any of the previous financial years.
Eligible for startup recognition up to 10 years from the date of incorporation.
Additional Startup Support Initiatives
India’s government has taken several steps to support the growth of startups, including:
Atal Incubation Centers by NITI Aayog, fostering early-stage startups.
MAARG Portal (Mentorship, Advisory, Assistance, Resilience, and Growth) by DPIIT, providing mentorship and support.
Fund of Funds for Startups (FFS) scheme, providing financial assistance to eligible startups.
The BHASKAR initiative is expected to further strengthen India’s startup ecosystem, driving innovation and global collaboration.
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