Union Minister Piyush Goyal Launches BHASKAR Initiative to Empower India’s Startup Ecosystem

New Delhi: Union Minister of Commerce and Industry, Piyush Goyal, launched the Bharat Startup Knowledge Access Registry (BHASKAR) today, a groundbreaking digital platform under the Startup India program. During his keynote address, Goyal highlighted the initiative’s significance, aptly named BHASKAR, which means “Rising Sun.” He likened the platform to the sun, symbolizing enlightenment, growth, and the fostering of collaboration, competition, and cooperation among India’s dynamic startup ecosystem.

Speaking on the occasion, Goyal remarked, “BHASKAR will integrate dreamers, doers, and disruptors, offering hope and success to entrepreneurs embarking on ambitious ventures.” He underscored the platform’s role in socializing and democratizing India’s startup ecosystem while promoting Brand India on the global stage.

The Union Minister emphasized the importance of innovation, noting that startups represent the fusion of creativity and entrepreneurship. He invoked Prime Minister Narendra Modi’s vision of shaping future-forward policies, asserting that the Startup India program will continue contributing to India’s growth story. He added that encouraging job creation and viewing failures as stepping stones would drive big ideas and transformations.

Goyal also suggested establishing a Section 8 company to bring the National Startup Advisory Council (NSAC) under the ambit of the new startup company. He advocated for awarding shares in the company to recognize and motivate unicorns, empowering entrepreneurs to lead India’s startup revolution on a global level.

The BHASKAR platform will serve as a one-stop digital hub for data dissemination, collaboration, and interaction within the startup ecosystem. Goyal shared his vision for BHASKAR 2.0, which will feature enhanced technology and a more comprehensive set of tools to drive further growth and success.

Key Features of BHASKAR:

1. Industry Alliances: Facilitates cross-sector collaboration among stakeholders, industries, and regions, fostering new opportunities for all.
2. Dynamic Networking: Offers personalized dashboards and peer-to-peer connectivity, ensuring entrepreneurs are always a click away from their next opportunity.
3. Enhanced Visibility: Profile cards help startups increase visibility within the ecosystem and connect with potential investors and collaborators.
4. Personalized BHASKAR ID: Each startup receives a unique ID, providing access to services, a personalized dashboard, and greater discoverability within the platform.

Secretary DPIIT, Amardeep Singh Bhatia, praised BHASKAR as a catalyst for inclusive innovation, especially for startups in tier-2 and tier-3 cities. He highlighted the platform’s potential to connect regional startups with broader opportunities, enhancing India’s economic progress.

Joint Secretary, DPIIT, Sanjiv, outlined the pivotal role BHASKAR will play in accelerating India’s startup growth by providing comprehensive access to resources. He stressed the importance of knowledge sharing to fuel innovation and ensure that startups across the country have the tools they need to succeed.

The Department for Promotion of Industry and Internal Trade (DPIIT), through its flagship Startup India program, organized the launch event to bolster India’s rapidly expanding startup ecosystem, which now includes over 1.4 lakh DPIIT-recognized startups. BHASKAR aims to streamline collaboration among incubators, policymakers, investors, and service providers, ultimately making it the largest digital registry of its kind in the world.