India mulling startups exchanges with Germany, Saarc

Postado Junho 20, 2017

Nirmala Sitharaman launched Startup India Hub on Monday afternoon.

"I will be working towards having a SAARC (South Asian Association for Regional Cooperation) country meet for startups".

She also asked participants and organizers of the event to share their ideas about this people-to-people meet.

"We have negotiated with Germany for an exchange of ideas with German startups under an existing arrangement between our countries", Sitharaman said here at the launch of the Startup India Hub online platform created to be a single point of contact for the startup community. "We are now working on the modalities of how Indian startups can exchange ideas with German startups", she said.

SAARC members are afghanistan, Bangladesh, bhutan, India, Nepal, maldives, pakistan and Sri Lanka.

The minister was speaking at the launch of the Startup India Virtual Hub, an online platform for all stakeholders of the entrepreneurial ecosystem in India to discover, connect and engage with each other.

Citing an example, the minister said she used her MP Local Area Development Scheme (MPLADS) fund to create a co- working space for startups in Mangalore.

The ministry is also planning to work in certain districts to identify schools and help them qualify to get tinkering labs under the Atal Innovation Mission. Startup India Hub comes under Invest India, the official Investment Promotion and Facilitation Agency of the Government of India, mandated to facilitate investments into India.

The Startup India Hub would enable startups gain access to knowledge, mentors, resources, appropriate government schemes and a host of other useful services.

The main objective of Start Up India Hub is to facilitate the resources for helping start ups, including easier access to funding, less tax burden, right infrastructure. The launch took place at the Le Meridien Hotel in New Delhi in the presence of many incubators, investors and startup founders.

The Hub attempts to solve the problem of information asymmetry and lack of access to knowledge, tools, experts, especially in the nascent ecosystems across Tier II and III towns. The minister also shared future plans of organising a startup summit for SAARC countries in order to facilitate dialogue and communication.

India is the third largest startup ecosystem around the globe, with 3-4 startups commencing every day.