The Central Government hereby constitutes the ‘National Startup Advisory Council’ to advise the Government on measures needed to build a strong ecosystem for nurturing innovation and startups in the country to drive sustainable economic growth and generate large scale employment opportunities. The council shall, inter alia, suggest measures to:
(i) Foster a culture of innovation amongst citizens and students in particular;
(ii) Promote innovation in all sectors of the economy across the country, including semi-urban and rural areas
(iii) Support creative and innovative ideas through incubation and research and development to transform them into valuable products, processes or solutions to improve productivity and efficiency;
(iv) Create an environment of absorption of innovation in industry;
(v) Facilitate public organizations to assimilate innovation with a view to improving public service delivery;
(vi) Promote creation, protection and commercialization of intellectual property rights;
(vii) Make it easier to start, operate, grow and exit businesses by reducing regulatory compliances and costs;
(viii) Promote ease of access to capital for startups;
(ix) Incentivize domestic capital for investments into startups;
(x) Mobilize global capital for investments in Indian startups;
(xi) Keep control of startups with original promoters.
(xii) Provide access to global markets for Indian startups.
2. The National Startup Advisory Council shall be chaired by Minister for Commerce & Industry, Government of India.
*Refer to the detailed Notification here: National Startup Advisory Council
Ministry of Commerce and Industry
[Notification dt. 21-01-2020]