Center to unviel startup policy soon

Center to unviel startup policy soon
Highlights

In a move to strengthen the startup ecosystem, the Union Government is all set to come up with a comprehensive startup policy in the next two weeks, according to Advisor, National Science and Technology Management Information Systems (NSTMIS), DST, Dr Praveen Arora.

Dr Praveen Arora, Advisor, National Science and Technology Management Information Systems (NSTMIS), DST addressing a workshop on Start-ups organised by ASCI-DST-IISc, Bangalore in Hyderabad on WednesdayHyderabad: In a move to strengthen the startup ecosystem, the Union Government is all set to come up with a comprehensive startup policy in the next two weeks, according to Advisor, National Science and Technology Management Information Systems (NSTMIS), DST, Dr Praveen Arora.

Speaking at one-day workshop on “Growth issues for startups in India” collectively organised by DST and ASCI here, Arora said, besides centre even some of the states, including Telangana, Karnataka and Chhattisgarh are expected to announce their own policies on promotion of startups in their respective states.

However, he said that the sectors like information technology and e-commerce are the areas where lot of action is going on, while the youth are sidelined the research and development. “We could see hardly any startup in the space of science and technology and there is no real innovation.”

He felt there is a need for create a vibrant startup ecosystem by connecting all the factors such as technology, funding, scale, marketing etc., so that, the innovations will see light with less time-frame.

The Centre is organising these workshops to identify the norms to push more innovation based startups, rather than simple service or marketing initiatives like e-commerce portals. The government is looking for the 10-point agenda to be implemented in the proposed policy, he added

Inaugurating the workshop, the Telangana IT secretary Jayesh Ranjan also expressed similar opinion and revealed, “there are 90 per cent chances that e-commerce startups may be rejected space in the T-Hub”.

Speaking at one of the sessions, former DSIR Adviser Dr AS Rao said unless technology mentors are identified by these startup villages or parks, it would be difficult to attract talent towards science and technology driven startups.

“Technical mentors are in short supply in India, we need to encourage and train the scientists and strengthen major research institutions with liberal grants,” he pointed out.

He further said, “As we are not providing opportunity to experiment in schools and colleges, at least at startup villages the youngsters need to be encouraged with grants.”

Echoing similar opinion, private equity player Sampath Iyengar felt there is a need for exclusive fund for startups and venture funds will not be the answer. “Innovation requires risk capital and venture finance will not provide required comfort to the innovator.”

He further said, “The Indian startups are in ‘honeymoon phase’, unless a proper financial product to take larger risk is developed, there is every chance that the startup boom may burst.”

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