October 1, 2023

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Startup India International Summit (Prarambh): Important Points

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Highlighted Topics Of The Summit:

  • Stronger linkages with the international venture capital and startup ecosystem
  • Mobilization of domestic and international capital towards the startup ecosystem in India
  • Encouragement to young innovators to establish their own ventures and startups
  • Emphasis on international cooperation and coordination to improve the global and BIMSTEC startup ecosystem.
  • Highlighting the evolution of Startup India Initiative over the past five years
  • Establishment of the future roadmap for the Startup India Initiative
  • Encouraging High Net-Worth Individuals, Family Offices, Venture Capitalists, Angel Investors, Industry Stakeholders, multinational agencies, and other stakeholders to support more entrepreneurial endeavours
  • Encouraging domestic and global capital to be invested in the startup ecosystem
  • Encouraging the formulation of startup-enabling policy frameworks
Prarambh (Startup India International Summit)

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Important Points:

The Prarambh: Startup India International Summit was organised by the Department for Promotion of Industry and Internal Trade of the Ministry of Commerce and Industry on January 15-16’2021. Here are some important points of this summit that you must know:

  1. This summit marks the fifth anniversary of the Startup India initiative.

  2. Startup India was launched on the 16th of January 2016 by Shri Narendra Modi, Hon’ble Prime Minister of India.

  3. Objective of startup India was 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.

  4. The vision of the Startup India Initiative is driven by a 19-point action plan spanning across three broad pillars: Simplification and Handholding, Funding support and Incentives, Industry-academia Partnership and Incubation, to meet the Hon’ble Prime Minister’s vision of at least one startup in every block of every district.

  5. Today, the Indian Startup ecosystem is the world’s third-largest startup ecosystem.

  6. Since the inception of the initiative, more than 40,752 Startups have been recognized as of 17th December 2020 across 586 districts from all 28 States and 8 Union Territories, of which 55% come from tier 1 cities and 45% from tier 2 & 3 cities.

  7. Working across IT, Industry 4.0, education, healthcare, agriculture, energy, finance, space, defence, and all other sectors of the economy, Indian startups have attracted substantial global investments and reported more than 4,22,986 jobs.

  8. Prime Minister Narendra Modi on Saturday announced a seed fund worth Rs 1,000 crore for startups to set-up and grow their businesses.

  9. The Prime Minister also launched a dedicated television show — Startup Champions to be telecasted on the public service broadcaster Doordarshan (DD).

  10. This summit is the largest startup confluence organised by the Government of India since the launch of the Startup India initiative with participation from over 25 countries and more than 200 global speakers.