Calling for equal stake with equal partnership and responsibility by Industry to sustain the Start-Ups boom, Union Minister Jitendra Singh has said that the Government will promote Industry-driven Start-Ups to create wealth and jobs. The Minister said that Start-Ups will become sustainable, if Industry from the very beginning will identify the theme/subject/product and invest matching equity with the Government. The Minister assured that funds will not be a constraint under Prime Minister Narendra Modi’s Government to promote the ‘Innovation Eco-System’ in the country.
Further, giving the example of Prime Minister Narendra Modi’s idea of an Atma Nirbhar Bharat, where India’s vaccine strategy brought together pharma, industry and academia in a partnership with an eye on meeting the current as well as possible future challenges, Singh said that the idea behind initiatives like this is to have a sustainable partnership in the long run and provide a sustainable source of livelihood to India’s youth. He added that the Government of India, led by Prime Minister Modi, is encouraging industrial outreach by extending all possible support.
The Minister also pointed out that last year he had launched Single National Portal ‘BioRRAP’ for Biotech researchers and Start-Ups and also to cater to all those seeking regulatory approval for biological research & development activity in the country and thus offer a huge relief for ‘Ease of Science as well as Ease of Business’. He asserted that India is poised to become a Global Bio-manufacturing Hub and will figure among the top 5 countries of the world by 2025.
