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Delhi's Startup Policy to Empower Nation, Says Union Minister Jayant Chaudhary

Union Minister Jayant Chaudhary praised the Delhi government's innovative policy for encouraging startups, stating it will empower the entire country. He emphasized the strong focus on skill development to prepare youth for emerging industries, aligning with Prime Minister Modi's vision. The Centre supports startups through schemes like TIDE 2.0, providing financial and technical support via a network of incubators. These efforts have already supported over 1,700 tech startups, many showing significant growth in revenue, funding, and innovation.

Key Points: Delhi's Innovative Startup Policy to Empower India

  • Delhi's innovative startup policy
  • Focus on youth skill development
  • TIDE 2.0 Scheme support
  • Incubators aiding 1,706 startups
  • Building a future-ready workforce
2 min read

Delhi government has innovative policy to encourage startups: Union Minister Jayant Chaudhary

Union Minister Jayant Chaudhary highlights Delhi's startup policy and skill development focus under PM Modi's vision for a self-reliant India.

"If startups are encouraged in Delhi, it will empower the entire country. - Jayant Chaudhary"

New Delhi, January 14

Union Minister of Skill Development and Entrepreneurship Jayant Chaudhary on Wednesday said that the Delhi government has an innovative policy to encourage startups and such a policy will help empower the entire country.

Speaking to reporters, he said that the Delhi government is placing strong focus on skill development to ensure that youth are adequately prepared to meet the demands of emerging industries.

"An innovative policy of the Delhi government is to encourage startups. If startups are encouraged in Delhi, it will empower the entire country. The Delhi government is focused on skills. This program is under Prime Minister Modi's vision," he said.

Chaudhary added that such initiatives would help build a robust and future-ready workforce, contributing significantly to India's growth and self-reliance.

The Centre follows a lifecycle-based approach to support the startup ecosystem. The startups are supported across the entire journey - from idea and proof of concept to prototype development, product development and testing.

As part of this approach, Government of India started the "Technology Incubation and Development of Entrepreneurs 2.0 (TIDE 2.0)" Scheme in the year 2019. It promotes technology-based entrepreneurship by providing financial & technical support to incubators.

Startups are supported through 51 selected incubators located in the Institutes of Higher Learning and premier R&D organizations across the country. A total outlay of Rs. 264.62 crore is approved over a period of 5 years, to support approximately 2000 tech start-ups.

These incubators provide startups with requisite expertise, industry linkages and ecosystem partnerships etc. Under the scheme, 1,706 startups have been supported till now, and these startups continue to progress well.

As startups eventually operate in a competitive market, their engagement with incubators also evolve based on business realities. These include, inter alia, achieving product-market fit, specialised laboratory requirements, technological challenges, fundraising needs, strategic pivots by founders, and overall financial sustainability.

In many cases, incubators have facilitated quick idea validation and effective pivoting for the startups, helping entrepreneurs shift to more viable ideas.

The overall performance of the supported startups remains encouraging, with many startups demonstrating revenue growth, increased valuations, raised external funding and IP filings.

- ANI

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Reader Comments

P
Priya S
While the policy sounds good on paper, I hope the benefits reach beyond Delhi and the elite institutes. Startups in tier-2 and tier-3 cities need just as much, if not more, support. The Rs. 264 crore fund is a good start, but execution is key.
R
Rohit P
Skill development + startups = perfect combo for India's future. Glad to see the central and state governments aligning on this vision. The TIDE 2.0 scheme supporting 1700+ startups is a solid achievement. Let's build more unicorns! 🚀
S
Sarah B
Interesting read. The mention of helping entrepreneurs "pivot to more viable ideas" is very practical. In the competitive market, that flexibility from incubators can be the difference between failure and success. Hope this model is replicated widely.
V
Vikram M
As a parent, I'm more interested in the skill development part. If our youth are getting industry-ready skills, that's the real empowerment. Startups are great, but a skilled workforce is the backbone of any economy. Good step by the Delhi govt.
K
Kavya N
Supporting 2000 tech startups is a bold target. I just hope the process is transparent and merit-based. Sometimes these schemes get bogged down in bureaucracy. Wishing all the young founders the very best! Jai Hind.

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