Central Govt. constitutes — National Startup Advisory Council | To build a strong ecosystem for nurturing innovation and startups

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]

Join the discussion

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.