MeitY Startup Hub
A nodal organization named “MeitY Startup Hub’ (MSH) has been set up under the ambit of the Ministry of Electronics and Information Technology (MeitY) with the aim of promoting start-ups, technology innovation, and the creation of Intellectual Properties.
- MSH serves as national facilitation, coordination, and monitoring centre that looks to integrate all the start-ups, incubation centres, and innovation-related activities of MeitY.
Why did MeitY set up start-up hubs?
India has one of the world’s most vibrant start-up ecosystems with around 8000 tech start-ups, making it the world’s second largest start-up ecosystem. Hence, the focus is being given towards entrepreneurship and innovation so as to give the Indian economy a boost. Ministry of Electronics and Information Technology (MeitY) is facilitating a wide range of Innovation and IPR-related activities around the country in order to expand this ecosystem and thus, the MeitY Startup Hub came into existence.
About Appscale Academy Launch of MeitY Startup Hub and Google
As part of Appscale Academy, a growth and development programme for early to mid-stage entrepreneurs across India, Google and the Ministry of Electronics and IT’s (MeitY) Startup Hub unveiled the inaugural cohort of 100 Indian start-ups. From more than 400 applicants, these start-ups were selected by a panel comprising members of Nasscom, MeitY Startup Hub, and Google Play.
More than a third of the start-ups in its inaugural cohort are from tier-two and tier-three cities, and more than half of these have a woman in a leadership role.
Around two-thirds are start-ups in sectors such as health, education, gaming, social, e-commerce, and finance. There are also start-ups supporting Indian core communities in areas such as business-to-business (B2B), agriculture, and parenting.
First announced in October 2021, this initiative will train the selected start-ups through a specialized curriculum on various aspects such as data safety and security practices, building successful apps for the global market, UX design, monetization, and global market expansion.
They will have access to virtual instructor-led webinars, self-learning materials, and mentorship sessions with a number of domestic and global industry specialists, as well as the option to pitch for funding to venture capitalists.
Category: Government Schemes Current Affairs