Another welcome step from the government of India is to boost the startup ecosystem. Recently, DPIIT announced setting up a dedicated digital collaboration platform for startups and investors. This move is aimed at facilitating the signing of deals quickly. Department for Promotion of Industry and Internal Trade (DPIIT) has announced to launch of this platform with small-scale industry development (SIDBI).
In a press conference held on Friday, Shruti Singh, joint secretary, DPIIT said “This was approved in one of the national startup advisory council meetings. It is a match-making platform for startups and investors and it is in the final stages of closing. We will launch it in the next two months”.
She also explained, “the platform will initially onboard investors and fund houses from India and look for global funds after reviewing its performance”.
The funds will be online, and startups will be able to access the same from the investor side; there will be alternative investment funds (AIFs) where they will mention the sectors they will be looking at and how much they are willing to invest.
“Investors have deployed more than Rs 9,500 crore in 600 and more startups in India through the government’s Fund of Funds scheme,” she said. She also pointed out that the younger generation in the country was very inclusive. Around 50% of the board of many startups comprise women and jobs created by startups have also grown multifold.