BHASKAR Garners 4.8 Lakh Registrations In 2 Months

SUMMARY

Launched in September this year, BHASKAR platform under ‘Startup India’ offers comprehensive, centralised compilation of startup data that can be used for effective networking and collaboration by registrants

The digital platform aims to democratise information access, accelerate resource sharing and foster cooperation and innovation among stakeholders

BHASKAR is expected to give a further boost to the Indian startup ecosystem, which is already the third largest in the world and home to 118 unicorns

The Centre’s digital platform for startups, BHASKAR (Bharat Startup Knowledge Access Registry), has gotten off to a strong start. Within two months of its launch in September by commerce and industry minister Piyush Goyal, the portal under the ‘Startup India’ programme has seen 5 Lakh registrations from 28 states and more than 7 Lakh views.

In a short span, the BHASKAR portal has become a vital resource for startups seeking to navigate the complexities of entrepreneurship in India. Over the last week, 1,393 users have registered on the portal.

The users registered on the platform are from various parts of India, including Tier II & III cities. This widespread engagement aligns with the government’s goal of ensuring that the startup ecosystem is not restricted to urban hubs alone.

It is pertinent to note that the number of startups recognised by the Department for Promotion of Industry and Internal Trade (DPIIT) crossed the 1.4 Lakh mark at the end of June 2024, a dramatic rise from just 300 startups in 2016.

The central government has played a key role in this sharp rise in the number of startups. Besides launching various schemes to support startups and entrepreneurs, the Centre has also been making efforts to expand entrepreneurship in Tier II, III and beyond towns. As a result, new startups have been emerging not only from primary hubs of Delhi, Mumbai and Bengaluru but also from emerging centres like Chennai, Hyderabad, Pune, and Kerala.

The BHASKAR portal intends to further simplify the journey of entrepreneurs. It offers a comprehensive, centralised compilation of startup data that can be used for effective networking and collaboration by registrants. The platform intends to speed up access to data resources, promote cooperation among users, and serve as a centralised hub for entrepreneurs, investors, mentors, and other stakeholders of the Indian startup ecosystem.

Since its launch, BHASKAR has already accounted for more than 12% of total traffic to the Startup India domain. The initiative aims to further expand the startup resource pool, funding initiatives, market linkages, incubation support, networking, and mentorship to create a more diversified and inclusive ecosystem.

The free-to-use platform aims to eliminate data silos in India’s startup ecosystem. It integrates startup data banks from various ministries, government departments, and support organisations into a single platform. This consolidation ensures crucial information is readily accessible to all stakeholders, streamlining access to vital startup-related data.

The “connect” function is one of the platform’s main features, allowing for networking and cooperation among stakeholders. The total number of connections among registered users has already reached 17,000.

By providing ecosystem analytics and quantitative data, BHASKAR enables stakeholders to examine the effectiveness of ecosystem elements in facilitating cross-organisational collaborations and strategic resource allocations at micro and macro levels.

BHASKAR’s growing user base highlights its role in driving long-term growth in India’s entrepreneurial ecosystem. The country already boasts the third-largest startup ecosystem in the world and is home to 118 unicorns. BHASKAR is expected to give a further boost to this ecosystem by centralising information, fostering collaboration, and providing key data and information.