Govt to expand network of incubators, accelerators to promote start-ups: Vaishnav
Union Electronics and IT Minister Ashwini Vaishnav on Tuesday assured that the government is committed to scale up the network of incubators and accelerators in a big way over the next three years. He promised the Centre’s support for entrepreneurs and start-ups to grow to the next level.
Vaishnav was speaking at the launch of ‘Amrit Mahotsav Shree Shakti Challenge 2021’ to encourage technology solutions developed by women entrepreneurs that facilitate women’s safety and empowerment.
The Minister said that only 100-300 incubators would not be enough for a country with a population of more than 130 crores.
“I believe that for a country of 1.3 billion people, 100, 200, or 300 odd incubators will not do. We will grow the network of incubators and accelerators to unprecedented levels… 10X to 40X one way or another. We are going to look forward in the next three years,” he said.
All of these will be managed professionally, and placed in institutions and industries where they add “real value”.
Vaishnav said the government will support entrepreneurs and startups in the initial risk phase which is the most challenging phase, as angel investors and venture capitalists may not like to risk their time and money.
The government will do its bit and provide support to entrepreneurs, Vaishnav said: “We are looking for one million entrepreneurs to make our mark and create new jobs”.
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