SUMMARY
- Piyush Goyal suggests a non-profit company for Start-Up India, similar to Invest India.
- The new entity would bring NSAC and other initiatives under one roof, promoting independence.
- Offering shares to unicorns aims to empower and recognize Indian entrepreneurs.
Commerce and Industry Minister Piyush Goyal has proposed the establishment of a non-profit company to centralize all initiatives under the Start-Up India program. Speaking at the launch of the Bharat Startup Knowledge Access Registry (BHASKAR), Goyal suggested that this new entity could be industry-led, similar to Invest India, a key organization that promotes investments in the country.
The minister highlighted that the new company would help consolidate the National Startup Advisory Council (NSAC) and other key initiatives under one roof, giving the industry greater autonomy. Goyal urged startups to take the lead in creating this Section 8 (non-profit) company, allowing the startup ecosystem to flourish with more independence from government oversight.
This initiative, once implemented, is expected to make the startup ecosystem more self-reliant and independent. Goyal also proposed offering shares of the new entity to unicorns, which could incentivize and empower entrepreneurs further, strengthening their role in India’s economic landscape.
The move aims to foster an environment where startups can grow more freely, and where unicorns are not just recognized but also rewarded with tangible equity, encouraging innovation and expansion within the Indian startup community.
