Union Minister of State for Skill Development, Entrepreneurship, Electronics and Information Technology Rajiv Chandrashekhar has said that the next wave of startups will emerge from Tier-2 and Tier-3 cities.
According to the minister, the government is a digital . will also launch India Setting up of a Digital India Investment Fund to fund the Startup Hub program and companies.
Interacting with the media in Ahmedabad during his three-day visit to Gujarat, Chandrashekhar said that people believed that America or Western Europe was the leading innovator. But according to him, India has shown the rest of the world that India has the highest number of unicorns, innovations, investments and businesses in the last three years.
The minister also highlighted the fact that over 1 lakh start-ups have been set up in the last three years, including 100 unicorns.
“Our focus is to build startups in Tier-II and Tier-III cities,” he said.
Bengaluru, Hyderabad, Gurugram, Pune, Mumbai and Chennai are among the cities that have these and these cities are home to 95% of unicorns. So now, according to Chandrashekhar, the government is trying its best to ensure that the next wave of 2-3 lakh startups comes from smaller sectors. He said the government’s investment would be “on smaller cities”.
On a separate occasion, Commerce and Industry Minister Piyush Goyal recently asked the National Startup Advisory Council (NSAC) to focus on Tier-II and Tier-III cities for venture capital (VC) financing, capacity building and public awareness. was requested. About government programs supporting startups in such places.
According to a statement from the Ministry of Commerce, “he” [Goyal] Urged the council members to focus on Tier-2 and 3 cities where limited VC funding is available. ,
Goyal expressed similar views in April this year while addressing the Confederation of Indian Industry’s Global Unicorn Summit 2022, asking Indian entrepreneurs to incorporate and list their businesses in India instead of a foreign tax haven.
“Ask a little difficult maybe. But I would once again urge all of you to join India and get listed in India. If you have any problems or problems, please let us know about it. We…to solve them Will do everything possible,” he said.
new initiative
Speaking to the media in Ahmedabad, Chandrashekhar said that India is preparing to launch a Digital India Startup Hub program and a Digital India Investment Fund to support startups.
“This year, big Indian companies were hiring from Canada and Australia… so the demand for skilled talent is going to be huge in the days to come. In December I was sent to Dubai. Today, the UAE wants both blue and white collar workers from India…” he added.
Earlier in an interview held ahead of the Semicon India Summit 2022 in Bengaluru, Chandrashekhar was asked how people from outside Tier-1 cities will form a major part of the tech talent pool in India.
In response, the minister said: “It is a priority task that the Prime Minister has given to our ministry, which is to ensure that these digital opportunities are equal for a young boy in Ghaziabad, Jharkhand, Srinagar, Kohima, Palakkad or Udupi.” Be readily available. As much as the youth of Bangalore or Hyderabad.”
“We do not want the concentration of these digital opportunities in 4-5 cities to be a digital one. This is 100% policy objective,” he said.
The Union Minister then explained that India’s startup ecosystem is slowly disintegrating and focusing on Tier-II cities. According to him there is a huge network of software. technology Parks of India (STPI) and Startup Hub which are focusing their attention on Tier-2 and Tier-3 cities.
“We are working on a plan to incentivize, offend and encourage technology majors to create virtual developments in these smaller cities. With a mix of work from home and hybrid models, companies need not set up large centers in these places,” he said.
According to Chandrashekhar, the government has approached large investment firms like Sequoia and said that “we will take you behind our start-up network”, which is now focusing on tier-2 and tier-3 cities.
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