Government to support Startups through better incubation centers in smaller towns
New Delhi: The Minister of Commerce and Industry, Consumer Affairs, Food, and Public Distribution and Textiles, Piyush Goyal today called for making IIT-Madras a symbol of Self Reliance & Self Confidence and flag-bearer of ‘Startup India’. Our Startups are making India proud and the Government is also working in the Advisory Council continuously with new ideas, he said.
“90 Unicorns, by itself, is reflective of the confidence with which our Startups are growing. By and large, the Startups have created a good name for themselves, a very high level of credibility and I am fairly confident that going forward there will be more and more changes,” said Goyal, during an interaction with the students after delivering the Keynote Address to the “E-Summit 2022- Disruption in veins” organized by IIT Madras.
Shri Goyal said finance is no longer a constraint for Startups engaged in database-technology-based solutions, besides scalable and good ideas.
“Our Startups are getting valued for their innovation far better than ever before. Similarly, there’s more money on the table, whether as seed capital or initial capital or different stages of fundraising that are required for Startups, there are several possibilities. I am told, in many cases, the Startups do window shopping whose money they are going to take, they chose,.. that was not something we saw a few years ago when the Startups were chasing capital,” he said.
Shri Goyal said the Government is committed to supporting the Startups through better incubation centers in the new and emerging smaller towns and cities.
“Our quality of technology and innovation is now, in many ways, world-class; we are second to none in the world! That itself is a big evolution from the past,” said Goyal.
Quoting famous basketball player Michael Jordan, “I’ve lost almost 300 games. 26 times I’ve been trusted to take the game-winning shot and missed. I have failed over and over and over again in my life and that is why I succeed”, Goyal encouraged the IIT students, “I wish all of your crack in life and even if your cup, rise and start again!”
