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Central Government Notifies National Startup Advisory Council - (21 Jan 2020)

Commercial

The Central Government has notified the structure of the National Startup Advisory Council. The Council will advise the Government on measures needed to build a strong ecosystem for nurturing innovation and startups in the country. The Council will suggest measures to infuse a culture of innovation amongst citizens and students and in particular, to promote innovation in all sectors of economy across the country, including semi-urban and rural areas. The Government aims to empower startups to grow through innovation and design. Innovation driven entrepreneurship and business creation through Start-ups is crucial for large-scale employment generation.

Further, it will also suggest measures to facilitate public organizations to assimilate innovation with a view to improving public service delivery, promote creation, protection and commercialization of intellectual property rights, making it easier to start, operate, grow and exit businesses by reducing regulatory compliances. The National Startup Advisory Council will be chaired by Minster for Commerce & Industry. The Council will consist of the non-official members, to be nominated by Central Government, from various categories like founders of successful startups, veterans who have grown and scaled companies in India, persons capable of representing interests of investors into startups, persons capable of representing interests of incubators and accelerators and representatives of associations of stakeholders of startups and representatives of industry associations. The term of the non-official members of the Startup Advisory Council will be for a period of two years.

The nominees of the concerned Ministries/Departments/Organisations, not below the rank of Joint Secretary to the Government of India, will be ex-officio members of the Council. Joint Secretary, Department for Promotion of Industry and Internal Trade will be the Convener of the Council. Startup India is a flagship initiative of the Government of India, intended to build a strong ecosystem to nurture innovation and to drive sustainable economic growth. The objective of Startup India is to inspire and motivate the youth of India to follow their dreams to generate wealth and become job creators and not just job seekers. The Startup India Action Plan, launched on 16th of January 2016, has stirred entrepreneurial spirit across the country. Under the Startup India Scheme, eligible companies can get recognized as startups by DPIIT in order to access a host of tax benefits, easier compliance, IPR fast tracking and other benefits.

Tags : STARTUP INDIA   COUNCIL   STRUCTURE  

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