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Business News/ Companies / Start-ups/  Govt to oversee progress of startups funded by it

Govt to oversee progress of startups funded by it

A government mechanism will closely follow the growth of startups, see how to sustain them so that they do not lose out


NEW DELHI:Science and technology minister Jitendra Singh on Sunday said the government has proposed the setting up of a mechanism to oversee the nurturing and progress of startups as their numbers have risen to more than a lakh.

The mechanism will closely follow the growth of startups, see how to sustain them so that they do not lose out, especially those that have received technical and financial support from the government, Singh said.

The minister said over the years startups have witnessed a shift from IT to biotech and earth sciences as new opportunities have opened in oceanography.

“One is age factor, I have seen a scientist setting up a startup after retirement; second is higher qualification, you just need to be an innovator, having an inherent quest for creativity," Singh said.

The minister on Sunday addressed the valedictory function and awards ceremony of the National Technology Week Exposition at Pragati Maidan in New Delhi.

Singh presented the National Technology Awards for successful commercialisation of innovative indigenous technology. 

The national technology week began on 11 May, the 25th anniversary of the Pokhran-II nuclear tests carried out in 1998. The National Technology Day was started in 1999 by the then prime minister Atal Bihari Vajpayee to honour Indian scientists, engineers and technologists, who worked for India's scientific and technological advancement and ensured the successful conduct of Pokhran tests.

S. Chandrasekhar, secretary department of science & technology, said every startup that took part in the Exposition was very conscious of sustainable development.

“By Amritkaal, we hope to cease all greenhouse emissions and minimize damage to the environment," he said.

Principal scientific advisor Ajay Kumar Sood said that there should be a Startup Day & Week on the patterns of the National Technology Day & Week. 

(With inputs from agencies)

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Published: 14 May 2023, 06:45 PM IST
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