Commerce and Industry Minister Piyush Goel on Tuesday called on the National Startup Advisory Council to focus on Tier-2 and Tier-3 cities to raise awareness about enterprise capital funding, capacity building and government projects that promote startups in the region.
The minister made the remarks while presiding over the fourth meeting of the NSAC (National Startup Advisory Council).
The Ministry of Commerce said in a statement that it has “called on them (Council members) to focus on Tier 2 and Tier 3 cities where limited VC (venture capital) funds are available.”
He also stressed the need to build capacity and create awareness about various government initiatives to promote startups in such cities.
The council, it said, discussed with startups issues related to startup ecosystems, including ownership of startups, inclusion in India, listing in India and development of innovation hubs.
The Minister also launched the NavIC Grand Challenge aimed at promoting the adoption of NavIC as a geo-positioning solution.
The NSAC was formed by the Department of Industrial and Internal Trade Development (DPIIT) to advise the government on the measures required to build a strong ecosystem for innovation and startups in the country.
The meeting was attended by key stakeholders, officials and existing startups of the country. Some of them were Manoj Kohli, Country Head, Softbank India; Aviraj Well, co-founder, Urban Company; And Kunal Bahl, co-founder and CEO, Snap-Deal 7