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Govt sets up National Startup Advisory Council for sustainable growth

By TIOL News Service

NEW DELHI, JAN 20, 2021: THE Centre has decided to appoint members to a council which will advise the government on measures needed to build a strong ecosystem for nurturing innovation and startups in the country.

The Department for Promotion of Industry and Internal Trade (DPIIT) under the Ministry of Commerce and Industry had constituted the National Startup Advisory Council in January 2020 to suggest measures and recommendations needed to mobilise startups and drive sustainable economic growth and generate large scale employment opportunities.

"The Central government has now decided to nominate the non-official members on the National Startup Advisory Council representing various stakeholders such as founders of successful startups, veterans who have grown and scaled companies in India, persons capable of representing interest of investors into startups, persons capable of representing interests of incubators and accelerators, representatives of associations of stakeholders of startups and representatives of industry associations," the DPIIT said in a statement on Tuesday.

The panel will suggest measures to foster a culture of innovation among citizens and students in particular, promote innovation in all sectors, support creative and innovative ideas, protect intellectual property rights and make it easier to start, operate, grow and exit businesses by reducing regulatory compliances and costs

Of the list of 28 released on Tuesday, the non-official members include Byju's founder Mr Byju Raveendran, Urban Company's Mr Abhiraj Singh, Mr Kunal Bahl from Snapdeal, Mr Bhavish Aggarwal from Ola Cab and Mr Kris Gopalakrishnan from Axilor Ventures.

The term of the non-official members of the Startup Advisory Council shall be for a period of two years or until further orders, whichever is earlier, the DPIIT said.


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