Need Robust Database On Startups To Connect Them With Govt, Industry Bodies: Piyush Goyal

SUMMARY

Goyal said that the government now thinks like a startup and has come out with innovations such as COWIN app, UPI, among others, that have powered many startups and unicorns

Goyal asked startups to give suggestions to improve processes on MAARG portal, which aims to facilitate mentorship between startups and entrepreneurs across sectors

The MAARG platform will now also allow live matchmaking of mentors with startups thereby, helping startups get access to guidance

Union Minister Piyush Goyal has highlighted the need for a robust database on Indian startups to connect them in a better manner with the Centre, industry bodies, and the general public.

Goyal said the government wants to listen and engage more with startups to build the future of India.

Speaking at the National Startup Awards 2022, Goyal said that the government now thinks like a startup and the Centre has come out with innovations such as COWIN app, One Nation, One Ration Card (ONORC), PM GatiShakti National Master Plan, and UPI that have powered many startups and unicorns.

Talking about the Centre’s MAARG portal, the minister said that the portal will help innovators working in remote regions get access to opportunities and also facilitate startups in getting access to the country’s funding ecosystem.

The portal aims to facilitate mentorship between startups and entrepreneurs across sectors, stages, and functions. Currently, over 600 mentors and over 800 startups are registered on the platform.

The MAARG portal, which stands for Mentorship, Advisory, Assistance, Resilience, and Growth, would now allow live matchmaking of mentors with startups thereby, helping startups get access to guidance and help them grow as well as increase their impact in India and abroad.

“To simplify the interaction between citizens and the Centre on the MAARG portal, the prime minister (PM) had removed the need to notarise documents, placing trust in the common man and this has never been misused,” Goyal said.

He also asked Indian startups to give suggestions to improve processes on MAARG and make the website simple as well as economic.

Notably, the Centre awarded 43 startups during the National Startup Awards 2022. Besides, two incubators and an accelerator were also recognised for their contributions to the startup ecosystem.

Out of 43 startups, 18 are based in Karnataka, followed by Maharashtra (9) and Delhi (4).

The Indian startup ecosystem has grown leaps and bounds over the last few years. It is currently home to 108 unicorns, with Indian startups garnering funding of over $345 Bn, according to an Inc42 analysis.

However, the ongoing funding winter and macroeconomic headwinds have hit the Indian startup ecosystem hard. Consequently, many startups have resorted to layoffs to cut down costs.

Startups like Sharechat parent Mohalla Tech, Ola, LEAD, Dunzo, and Rebel Foods are amongst those which laid off employees recently.