Bharat Startup Ecosystem Registry Will Allow Experienced Founders To Mentor New Startups: DPIIT Joint Secy

The Centre’s Bharat Startup Ecosystem Registry will provide a platform for founders whose startups have achieved scale to mentor and handhold upcoming startups, according to Sanjiv, joint secretary at the Department for Promotion of Industry and Internal Trade (DPIIT).

Talking about the need for the Registry, Sanjiv said that despite the rapid growth of the Indian startup ecosystem over the past few years, it lacked a common database where all the different constituents can have a representation.

The joint secretary was speaking with Inc42 cofounder Vaibhav Vardhan at the third edition of Inc42’s FAST42, where we shone light on 52 of the most innovative and disruptive D2C brands of the country. 

It is pertinent to note that the Centre unveiled the Bharat Startup Ecosystem Registry earlier this week. It would serve as a single database platform for startups, investors, incubators, and other stakeholders in the country’s startup ecosystem.

“When I started my journey with DPIIT, I felt there was a need for a platform that could connect the ecosystem at one place. Through Startup India, we have been recognising startups on the basis of the skillsets they possess. But what about those startups that are just entering into the ecosystem?… With this registry, I want people who have made it in the ecosystem to continue being a part of it and mentor up and coming startups,” Sanjiv said about the Registry at the event. 

The joint secretary also highlighted the increase in the number of startups in the country over the last few years. This, he said, has made it easier for entrepreneurs looking to foray into the ecosystem. 

As per the DPIIT’s data, there were over 1.17 Lakh startups in the country as of December 31, 2023. The country is also home to 113 unicorns.

The rapid rise in the number of startups in the country can also be partly attributed to the Centre’s efforts to promote startups. The government has launched a number of schemes like Startup India and Startup India Seed Fund Scheme to foster startups in the country. 

As part of these efforts, the DPIIT will also be supporting a three-day event, Startup Mahakumbh, being organised by Assocham, Nasscom, Bootstrap Incubation & Advisory Foundation, TiE and Indian Venture and Alternate Capital Association (IVCA) later this month.

Talking about it, Sanjiv said Startup Mahakumbh will be a celebration of the Indian startup ecosystem. “All the constituents within the country are expected to partake in the mega event, along with VCs and startups from 25 countries. The Startup Mahakumbh is going to be a story of how India has changed over the years,” he added.

The event, to be held from March 18-20, is envisaged to act as a platform for exchange of ideas and inspire youth and students to take up entrepreneurship.