Govt To Support Startups Through Better Incubation Centres In Smaller Towns: Piyush Goyal

Union Minister of Commerce and Industry Piyush Goyal on Thursday (4 March) said the Government is committed to support the Startups through better incubation centres in the new and emerging smaller towns and cities in the country.

Our Startups are making India proud and the Government is also working in the Advisory Council continuously with new ideas, he said.

“90 Unicorns, by itself, is reflective of the confidence with which our Startups are growing. By and large, the Startups have created a good name for themselves, a very high level of credibility and I am fairly confident that going forward there will be more and more changes,” said Goyal, during an interaction with the students after delivering the Keynote Address to the “E-Summit 2022- Disruption in veins” organised by IIT Madras.

Goyal said finance is no longer a constraint for Startups engaged in database-technology based solutions, besides scalable and good ideas, according to a Commerce Ministry release.

“Our Startups are getting valued for their innovation far better than ever before. Similarly, there’s more money on the table, whether as seed capital or initial capital or different stages of fund raising that is required for Startups, there are several possibilities. I am told, in many cases the Startups do window shopping whose money they are going to take, they chose,.. that was not something we saw a few years ago when the Startups were chasing capital,” he said.

“Our quality of technology and innovation is now, in many ways, world class; we are second to none in the world! That itself is a big evolution from the past,” the minister said.