He added that startups can play a key role in socialising and democratising healthcare across the globe at a time when the world is grappling with the coronavirus pandemic.
Piyush Goyal
Commerce and industry minister Piyush Goyal today said that 2021 will always be remembered as the year of unicorns as startups turned the COVID crisis into an opportunity by racking up one billion dollars or more in valuation and helped India crack the top fifty on the global innovation index.
At the Startup India Innovation Week, he said, “2021 will always be remembered as the year of unicorns (for India) with the third largest number of unicorns anywhere in the world.”
He added that startups can play a key role in socialising and democratising healthcare across the globe at a time when the world is grappling with the coronavirus pandemic.
Emphasising that entrepreneurs should focus on the make-in-India programme, innovating and mentoring young startups, Goyal pointed out that startups are the key reason behind the country’s meteoric rise in the global innovation index from 76 in 2014 to 46 in 2021.
Highlighting the participation of women in the new economy, he said that 46 percent of startups have women co-founders going by data.
Goyal also pointed out the role startups played in employing people saying that “from 2018-2021, more than 6 lakh jobs were created by startups. In 2021 alone, more than 2 lakh jobs came up.”
He added that the government has also taken several steps to encourage startups such as reduction in patent filing fees and relaxation in public procurement norms.
“Fund of funds for startups has also been started. We now also have a seed fund scheme, and I-T exemption for three of the first 10 years,” he said.
The government is also working on an open network for digital commerce which will provide opportunities for emerging startups and bridge the gap between large e-commerce companies and new startups.
“I suggest five mantras for the growth of startups in the years to come — Share, Explore, Nurture, Serve, and Empower (SENSE),” Goyal added.
The first-ever Startup India Innovation Week started today is a virtual event that will go on till January 16. It is organised by the Department for Promotion of Industry and Internal Trade (DPIIT).
