Union Minister Dr Jitendra Singh recently highlighted the newly created ‘herSTART’ platform, which aims to support women-led startups and encourage women entrepreneurs. The platform was launched in October 2022 by the Gujarat University Startup and Entrepreneurship Council (GUSEC). The platform aims to provide resources and training modules free of cost to aspiring women entrepreneurs. It also provides a digital community for them, and a digital publication to spread their success stories.
Boosting innovation and start-up efforts of women entrepreneurs
The ‘herSTART’ platform is expected to boost innovation and start-up efforts of women entrepreneurs in India. It will also help them connect with various government and private enterprises. The platform is a part of the Indian government’s commitment to creating an enabling ecosystem for women entrepreneurship through initiatives, schemes, networks, and communities and activating partnerships among diverse stakeholders in the Startup ecosystem.
India’s growing startup ecosystem
India’s Startup ecosystem has gained significant attention in recent years, making it one of the most coveted global markets. The Indian government has introduced various policy reforms to encourage and support Startups. India has moved from the 81st position to the 40th position in the Global Innovation Index (GII) of 2022 as a result of the startup program started across the country.
Opportunities for Startups to disrupt and innovate
Future trends show opportunities for Startups to disrupt and innovate with technologies like blockchain, the Internet of Things (IoT), artificial intelligence (AI), and machine learning, etc. With the kind of policy reforms that India is headed towards, Startups can play a big role.
Women-led business enterprises playing a noticeable role in society
Women-led business enterprises are playing a noticeable role in society by generating employment opportunities in the country, bringing in demographic shifts and inspiring the next generation of women founders. At least 36 unicorns and potential unicorns in India have at least one woman founder or a co-founder.
Building a strong ecosystem for nurturing innovation
The Startup India Action Plan of the Government is a very important step for strengthening the entrepreneurial ecosystem in the country. The action plan is intended to build a strong ecosystem for nurturing innovation in India as an engine for both economic growth and employment generation.
India’s Commitment to Innovation
India is fast becoming a breeding ground for innovations. It is shifting to a knowledge-based economic growth model and commits to reinvent its advantages as a labour-intensive, capital-intensive, and manufacturing nation. Startups played a pivotal role during the pandemic, and India is building on this momentum and aspiring to be among the top countries globally for digital businesses and Startups.
Category: Economy & Banking Current Affairs - 2024