Government To Scale Up Network of Incubators And Accelerators To Encourage Startups

Ashwini Vaishnaw, Minister for Electronics and IT, on the occasion of `Azadi Ka Amrit Mahotsav’, said the government is committed to scaling up the network of incubators and accelerators massively over the next three years.

The Minister for Electronics and IT also launched the ‘Amrit Mahotsav Shri Shakti Challenge 2021’ to encourage technology solutions developed by women entrepreneurs, which facilitate women’s safety and empowerment.

Speaking about incubators and accelerators, Ashwini Vaishnaw said,

“I believe for a country of 1.3 billion people, 100, 200, or 300 odd incubators won’t do. We will be scaling up the network of incubators and accelerators to phenomenally multiple levels…10X to 40X is the kind of numbers we are going to look forward to in the next three years.”

[Read: Growth Story Of Indian Startup Ecosystem And Top 5 Most Promising Sectors In 2021]

By scaling up the network of incubators and accelerators, the government will provide support to entrepreneurs. Ashwini Vaishnaw said that the government is looking for a million entrepreneurs to make their mark and create new jobs. As per the minister, all of these incubators and accelerators would be professionally managed and housed in institutions and industries where they add “real value”.

Ashwini Vaishnaw added that the government would be supporting the entrepreneurs and startups in the initial risk phase, which is the most challenging phase, as angel investors and venture capitalists may not like to risk their time and money.

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