BHASKAR Set to Empower Indian Startups with Unified Platform

Union Minister of Commerce & Industry, Shri Piyush Goyal at his keynote address during the launch of the Bharat Startup Knowledge Access Registry (BHASKAR) initiative, under the ‘Startup India’ program today in New Delhi said that BHASKAR meaning ‘Rising Sun’ has been aptly chosen to be the name of the digital platform. With the sun comes enlightenment, light, growth and BHASKAR will help in collaboration, cooperation and also enable competition among each other, Shri Goyal said. While praising the initiative, The Union Minister said that BHASKAR as a concept will try to integrate all the people who are dreamers, doers and disruptors. Putting BHASKAR into context, he said that the platform will help bring hope, aspirations and success for the entrepreneurs to kickstart ambitious revolutions.

On promoting the startup ecosystem, Shri Goyal said that the Centre will put in efforts to make the ecosystem socialised, democratic and visible to the world. Technology and interconnectivity will help Indians build ‘Brand India’ as a tool to market our products and services across the world and help us change the image of India to the rest of the world, Shri Goyal said.

He also underlined that startup is innovation plus entrepreneurship. Invoking Prime Minister Shri Narendra Modi’s vision of shaping policies for the future, the Minister said that Startup India’s strength will contribute to the India growth story. He added that encouraging Indians to be job creators and help them see failures to be stepping stones to a brighter future, will help big ideas fructify. 

The Minister also suggested the participants set up a Section 8 company to bring the National Startup Advisory Council (NSAC) within the ambit of the new startup company. The Minister also shared that handing out shares of the new company to recognise and encourage unicorns would encourage and empower the entrepreneurs.  During his address, Shri Goyal emphasised that the Government desires for the startup industry to be independent and attain global level while maintaining integrity, quality and conviction to succeed in the world. 

Shri Goyal spoke of making BHASKAR a one-stop digital platform for data dissemination, exchange, interaction for the entire startup ecosystem through simple easy to use links and easy to navigate technology catalysing the growth and success of the startup ecosystem across India and beyond. In conclusion, he hoped that BHASKAR 2.0 would be improvised and released soon with enhanced features and technology.

Secretary DPIIT, Amardeep Singh Bhatia, in his address, described, "This unique initiative is a laudatory step further calling for concerted efforts from the entire startup ecosystem. This will cohesively propel the Indian startup ecosystem as the flag bearer amongst its peers across the globe. The Bharat Startup Knowledge Access Registry will act as a catalyst for innovation and will foster greater connectivity between startups, particularly in tier-2 and tier-3 cities, ensuring that innovation is inclusive, and opportunities are accessible to all. This will enable regional startups to collaborate, grow, and contribute to the nation’s economic progress."

Meanwhile, the Joint Secretary, DPIIT, Sanjiv briefly outlined the pivotal role of startups in contributing to the Indian growth story, and how BHASKAR will accelerate this growth in the right direction. Divulging further he said, "By providing comprehensive access to resources, BHASKAR will serve as the guiding light for startup ecosystem stakeholders to navigate challenges and unlock opportunities in today's dynamic market. We believe that knowledge is power, and through BHASKAR, we are ensuring that every Indian startup, regardless of size or location, has access to the resources that can fuel their growth."

The Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry through its flagship program ‘Startup India’, hosted the launch event of the digital platform aimed at bolstering India’s startup ecosystem comprising startups, investors, mentors, service providers, and government bodies.

Notably, BHASKAR is designed to unify and empower India’s rapidly growing startup ecosystem by offering a one-stop solution for seamless collaboration, knowledge sharing, and innovation. With over 1.4 lakh DPIIT-recognised startups as of August 2024, India has established itself as one of the largest and most vibrant startup ecosystems globally. However, this tremendous growth has also led to the fragmentation of resources and stakeholders. BHASKAR aims to challenge incubators, policymakers, and other key startup ecosystem stakeholders under one roof for ease of accessibility and traceability.

Key Value propositions for BHASKAR:

Industry Alliances: By bringing together stakeholders from different sectors, industries, technologies, and regions, the platform creates opportunities for cross-collaboration for all

Dynamic Networking: Easily connect and collaborate with like-minded people via personalised dashboards and peer-to-peer connect features that ensure you are always just a click away from your next opportunity

Enhanced Visibility: Make yourself visible using profile cards to be discovered across the startup ecosystem

Personalised Identification Number: Get your BHASKAR ID that is tied to your profile for a personalised dashboard. Your digital identity will enable you to access various services and be discovered by other members.

BHASKAR will work as the central one-stop digital platform that will house the ever-evolving startup ecosystem stakeholders under one single roof, making it the largest digital registry of the startup ecosystem in the world in the coming times.