Union Commerce Minister Piyush Goyal unveiled a helpline at the Startup Mahakumbh event in New Delhi for Indian start-ups to communicate with the government. This platform allows entrepreneurs to share grievances and feedback on policies directly.
Goyal emphasized that the helpline is open to all Indian start-ups, with plans for multilingual support to aid accessibility. This initiative aligns with the government’s goal of fostering an inclusive start-up community for entrepreneurs nationwide to voice their needs.
Goyal highlighted the government’s backing for the start-up ecosystem through the Startup India initiative’s ₹10,000 crore fund of funds. He expressed concern about investors acquiring significant stakes in early-stage start-ups with minimal investments. In some cases, founders had to sell nearly half their stake to investors, leaving them with minimal equity once the company attained success.
To address these issues, Goyal announced a second phase of the ₹10,000 crore fund of funds. This new round reserves part for smaller start-ups looking for seed funding. The initial ₹2,000 crore will be given to SIDBI this year, offering early-stage start-ups financial backing to maintain ownership during growth.
Goyal envisions India developing AI models and manufacturing machinery, aiming to establish itself as a top-tier nation known for quality and skill globally. This reflects the government’s goal for India to lead in technology and innovation, fostering a supportive ecosystem for start-ups to engage in advanced tech and boost the economy.
Sources News From Various Digital Platforms, Websites, Journalists, And Agencies.
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