+91 9723459572    info@taxorigin.com
Providing a Collaboration Platform

Providing a Collaboration Platform

Organizing Startup Fests for Showcasing Innovation and Providing a Collaboration Platform

A pivotal component for growth of Startups is regular communication and collaboration within the Startup community, both national as well international. An effective Startup ecosystem can’t be created by the Startups alone. It is dependent on active participation of academia, investors, industry and other stakeholders.

 

To bolster the Startup ecosystem in India, the Government is proposing to introduce Startup fests at national and international stages.

These fests would provide a platform to Startups in India to showcase their ideas and work with a larger audience comprising of potential investors, mentors and fellow Startups.

As part of “Make in India” initiative, Government proposes to:

• Hold one fest at the national level annually to enable all the stakeholders of Startup ecosystem to come together on one platform.

• Hold one fest at the international level annually in an international city known for its Startup ecosystem.

The fests shall have activities such as sessions to connect with investors, mentors, incubators and Startups, showcasing innovations, exhibitions and product launches, pitches by Startups, mentoring sessions, curated Startup walks, talks by disruptive innovators, competitions such as Hackathon, Makerspace, etc., announcements of rewards and recognitions, panels and conferences with industry leaders, etc.

 

Launch of Atal Innovation Mission (AIM) with Self-Employment and Talent Utilization (SETU) Program

The Atal Innovation Mission (AIM) shall have two core functions:

• Entrepreneurship promotion through Self-Employment and Talent Utilization (SETU), wherein innovators would be supported and mentored to become successful entrepreneurs

• Innovation promotion: to provide a platform where innovative ideas are generated

The main components proposed to be undertaken as part of the mission include:

Entrepreneurship promotion:

• Establishment of sector specific Incubators including in PPP mode (refer #14 of this Action Plan)

• Establishment of 500 Tinkering Labs

• Pre-incubation training to potential entrepreneurs in various technology areas in collaboration with various academic institutions having expertise in the field

• Strengthening of incubation facilities in existing incubators and mentoring of Startups

• Seed funding to potentially successful and high growth Startups

Innovation promotion:

• Institution of Innovation Awards (3 per state/UT) and 3 National level awards

• Providing support to State Innovation Councils for awareness creation and organizing state level workshops/conferences

• Launch of Grand Innovation Challenge Awards for finding ultra-low cost solutions to India’s pressing and intractable problems

 

Promoting Startups in the Biotechnology Sector

The Biotechnology sector in India is on a strong, growth trajectory. Department of Biotechnology endeavors to scale up the number of Startups in the sector by nurturing approximately 300-500 new Startups each year to have around 2,000 Startups by 2020. In order to promote Startups in the sector, The Department of Biotechnology shall be implementing the following measures along with its Public Sector Undertaking Biotechnology Research Assistance Council (BIRAC): 

Bio-incubators, Seed Fund and Equity Funding:

• 5 new Bio-clusters, 50 new Bio-Incubators, 150 technology transfer offices and 20 Bio-Connect offices will be set up in research institutes and universities across India.

• Biotech Equity Fund – BIRAC AcE Fund in partnership with National and Global Equity Funds (Bharat Fund, India Aspiration Fund amongst others) will provide financial assistance to young Biotech Startups.

Encouraging and leveraging global partnerships:

• Bengaluru-Boston Biotech Gateway to India has been formed. Letter of Intent has been signed between DBT, GoI and Department of IT, Government of Karnataka for the same. Through this initiative, a range of institutes in Boston (Harvard/ MIT) and Bengaluru will be able to connect to share ideas and mentor the entrepreneurs especially in the areas of Genomics, Computational Biology, Drug Discovery and new vaccines.

• Amplification of Bio-entrepreneurship through BIRAC Regional Entrepreneurship Centres (BREC).

The BREC aims to impart bio-entrepreneurs with the necessary knowledge and skills required for converting innovative ideas into successful ventures. Department of Biotechnology shall set up 5 Regional centres or Mini-BIRACs in the next 5 years.