The Department for Promotion of Industry and Internal Trade (DPIIT) and the Ministry of Commerce and Industry has organized a one-week virtual innovation festival called ‘Startup India Innovation Week’ to showcase the spread and depth of entrepreneurship across India. The purpose of this event is to celebrate the 75th year of India’s independence, ‘Azadi Ka Amrit Mahotsav,’ which will start from January 10 and will run till January 16.
Under this, the country’s leading startups, entrepreneurs, investors will be brought on one platform. Additionally, efforts will be made to bring together incubators, funding institutions, banks, policymakers and promote innovation. The purpose of this innovation celebration is also to celebrate the Amrit Festival of Independence. The remarkable thing is that 2021 has been recognized as the ‘Year of Unicorns in the startup world.’
India is emerging as a global innovation hub with the world’s third-largest startup ecosystem. DPIIT has so far recognized more than 61,000 startups. Startups in India are spread across 633 districts representing 55 industries. Startups from every state and union territory of the country have created more than 6 lakh employment opportunities since 2016. The remarkable thing is that 45 percent of startups are from Tier-2 and Tier-3 cities and women entrepreneurs represent 45% of them.
DPIIT organizing 1st-ever #StartupIndia Innovation Week from today to 16th January. This virtual week-long innovation celebration aims to showcase the spread and depth of entrepreneurship across India. #AzadiKaAmritMahotsav @AmritMahotsav । @MIB_India । @startupindia pic.twitter.com/46crH2nqOj
— All India Radio News (@airnewsalerts) January 10, 2022
“Startup India is a flagship initiative of the Government of India, intended to build a strong ecosystem for nurturing innovation and startups in the country that will drive sustainable economic growth and generate large-scale employment opportunities. The initiative aims to empower Startups to grow through innovation and design. The initiative brought a sharp focus on startups and catalyzed the Indian startup ecosystem and accelerated Indian entrepreneurs building innovative solutions for Indian and global needs. Since the launch of the initiative, several programs have been undertaken to contribute to the Hon’ble Prime Minister’s vision of transforming India into a country of job creators instead of job seekers,” says the official website.
Objectives of the event
- Bring together the country’s key startups, entrepreneurs, investors, policymakers, and other national/international stakeholders.
- Exchange knowledge on best practices on nurturing the startup ecosystem
- Encourage and inspire the youth for innovation and entrepreneurship.
- Develop capacities of the entrepreneurial ecosystem
- Provide market access opportunities to startups.
- Mobilize global and domestic capital for investment to startups.
- Create an experiential hub of innovation for each enabler.
- Showcase high-quality, high-technology, and frugal innovations from India.
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