Goyal urges Indian investors to support regional startups

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Lekphell calls for a startup hub at BIMSTEC Secretariat

Commerce and Industry Minister Piyush Goyal is encouraging Indian investors to work towards greater engagement with regional startups so that India can truly demonstrate to the world the stakeholders commitment to make startups the pillar on which future economic development will prosper.

He pointed out that India has over 41,000 startups registered with the Government while many more are working at the grassroots level and doing a good work.

While he has been asking the Indian capital to encourage and support the Indian startups at an early stage, Goyal requested the Indian investors and capital to look towards startups in the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC). He urged the investors and capital to mentor the regional startups.

He also expressed the hope that the collective commitment demonstrated by BIMSTEC nations will surely encourage startups in all other countries.

He sees a huge potential in the collaboration among startups, adding “we will see new ideas prospering and young minds working together to come up with new ideas, new innovations, new inventions.”

Startup to startup collaboration has a huge potential because with this new ideas will prosper and young minds will come together to work collectively, stressed the Indian Minister at the two-day Startup India International Summit in New Delhi on 15 Jan 2021.

The summit, organized by Department for Promotion of Industry and Internal Trade, is a followup to the 4th BIMSTEC Summit held in Kathmandu in August 2018.

Goyal said that the summit is a demonstration of neighbourhood first policy which will booster partnership among the member countries and hoped that this will usher in a new beginning, showcasing various aspects of the startup world.

The Minister said that the partnership among the BIMSTEC countries in the sector will take startups to the forefront of new India, new world, new neighbourhood in the new normal.

Startups have ideas, show enthusiasm and come up with innovations, and hence timing of the summit during this pandemic is perfect, he added.

“Growing beyond Government to Government and business to business collaborations, this summit will ensure startup to startup collaboration, with exchange of ideas and young minds working together collectively to solve problems and assuring prosperity and growth in the region,” said Goyal.

He noted that youngsters of today show entrepreneurship inclination who are no more the job seekers but have become job creators.

Startups provide a ray of hope with a capacity to innovate and respond quickly to any problem, said the BIMSTEC Secretary General Tenzin Lekphell, calling on member countries to provide policy support and come together to help the startups.

Lekphell suggested that such conclaves should be held annually to provide support to startups, and called for a startup hub in the BIMSTEC Secretariat.

He highlighted that the summit has brought together leaders, investors, scholars, policy makers, startup innovators and entrepreneurs together. technology #startups #projects #innovations /fiinews.com

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