India's New Platform: A Catalyst for Startup Growth

The Department for Promotion of Industry and Internal Trade (DPIIT) and the Ministry of Commerce and Industry in India have launched a new digital platform called "Bharat Startup Knowledge Access Registry" (BHASKAR) to bolster the start-up ecosystem in India.

The platform, which is part of the Startup India programme, seeks to address key challenges faced by start-ups in India, including inadequate infrastructure, limited access to technological resources, and a scarcity of incubation centres, mentorship programs, and networking opportunities.

• The initiative aims to foster connections, collaborations, cooperation, and competition within the start-up ecosystem.
• The vision is to bring together dreamers, doers, and disruptors on a single platform, creating a vibrant hub for entrepreneurship.

BHASKAR: A Centralised Hub for Indian Startups

BHASKAR originated from the Start-up Mahakumbh 2024 initiative and will serve as a centralised registry, guiding start-ups from idea generation to execution.

The platform offers a range of features designed to support the growth of Indian start-ups.

Key Features of BHASKAR

Here are five key features of BHASKAR that highlight its potential to empower Indian start-ups:

• Network and Collaborate: BHASKAR facilitates cross-sector engagement by connecting key stakeholders, including students, investors, business owners, mentors, enablers, explorers, and start-up founders. This fosters collaboration through personalised dashboards and peer-to-peer networking features. Currently, over 459,920 individuals have registered on the platform.
• Centralised Access to Resources: BHASKAR acts as a one-stop repository for essential tools and knowledge, enabling quicker decision-making and efficient scaling for start-ups.
• Personalised Identification: Each stakeholder is assigned a unique BHASKAR ID, ensuring personalized, streamlined, and impactful interactions within the platform.
• Global Support for Indian Startups: BHASKAR aims to elevate the position of India's start-up ecosystem on the global stage. It focuses on promoting India as an innovation hub and streamlining cross-border collaboration.
• Prospective Section 8 Company Plan: The initiative plans to establish a Section 8 company that will offer unique benefits to start-ups. The company will provide a platform for Indian start-ups to engage directly with the government, facilitating quicker implementation of policies and addressing issues like the abolishment of angel tax.

India's Vision for a Thriving Startup Ecosystem

The Ministry of Commerce and Industry envisions a future where India leads the global start-up ecosystem, building a robust and inclusive environment for innovation.

The launch of BHASKAR signifies India's commitment to fostering an environment that supports entrepreneurship, empowers start-ups, and propels India to the forefront of technological innovation.

BHASKAR: A Testament to India's Start-Up Ambitions

The launch of BHASKAR marks a significant step in India's journey to become a global leader in the start-up arena. The platform's focus on fostering collaboration, providing access to resources, and supporting the growth of Indian start-ups demonstrates the government's commitment to empowering the next generation of entrepreneurs.

With its ambitious vision and comprehensive features, BHASKAR is poised to play a pivotal role in shaping the future of India's start-up ecosystem, driving innovation and propelling the country to new heights of entrepreneurial success.