Prarambh: Startup India International Summit 2021 | UPSC

Prarambh: Startup India International Summit 2021 | UPSC

      HEADLINES:

PM to interact with Startups and address ‘Prarambh: Startup India International Summit’ on 16 January

      WHY IN NEWS:

Prime Minister Shri Narendra Modi will interact with startups and address ‘Prarambh: Startup India International Summit’ on 16th January 2021 at 5 PM via video conferencing.

SYLLABUS COVERED: GS 3: Start ups : Innovation

      ISSUE: 

PRARAMBH: STARTUP INDIA INTERNATIONAL SUMMIT

  • The Summit is being organized by the Department for Promotion of Industry and Internal Trade.

The sessions of the Summit are designed to showcase the spread and depth of entrepreneurship based on innovation in India.
 

  • The first day of the Summit has been devoted to host dignitaries and stakeholders from BIMSTEC member States.

Prarambh: Startup India International Summit 2021 | UPSC

SIGNIFICANCE

  • Prarambh is expected to bring together top policy makers, industry, academia, investors, startups and all stakeholders from across the globe.
  • The idea is to attain attention of global capital for startups in India, mobilize domestic capital, provide opportunities for accessing international markets to our startups and evolve enabling policy provisions.

OBJECTIVES

  • Encouraging and inspiring the youth for innovation and entrepreneurship.
  • Exchange knowledge on best practices on nurturing startup ecosystems.

Develop capacities of entrepreneurial ecosystem.

  • Mobilize global and domestic capital for investments into startups.
  • Provide opportunities to startups for entering domestic (private and public) and international markets
  • Showcasing high-quality, high technology and frugal innovations from India.
  • Enable ease of doing business for startups and investors.

BACKGROUND

  • The two-day Summit is being organised as a follow up of the announcement made by the Prime Minister at the fourth BIMSTEC Summit held in Kathmandu in August 2018.

The Summit marks the fifth anniversary of the Startup India initiative which was launched in 2016.

  • The Summit will be the largest startup confluence organised by the Government of India since the launch of the Startup India initiative.
  • The Indian startup ecosystem today is counted amongst the world’s largest startup ecosystems.
  • It is also growing at an unprecedented rate, contributing to the innovation driven growth for the Indian economy.

STARTUP INDIA INITIATIVE

  • It is a flagship initiative that aims to build a strong eco-system for nurturing innovation.
  • It was launched in 2016 with the objective of supporting entrepreneurs, building a robust startup ecosystem and transforming India into a country of job creators instead of job seekers.
  • Startups in the country will drive sustainable economic growth and generate large-scale employment opportunities.

      IASbhai WINDUP: 

  • With participation from over 25 countries and more than 200 global speakers, the Summit will be the largest startup confluence organised by the Government of India since the launch of the Startup India initiative.
  • It will witness 24 sessions with focus on enhancing multilateral cooperation and engagement with countries from around the globe to collectively develop and strengthen the startup ecosystems.
     SOURCES:  PIB  | Prarambh: Startup India International Summit 2021 | UPSC

 

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