Union Commerce and Industry Minister Piyush Goyal launched the Bharat Startup Knowledge Access Registry (BHASKAR) on Monday, marking a significant advancement in the growth of the Indian startup ecosystem.
The digital platform, developed by the Department for Promotion of Industry and Internal Trade (DPIIT) under the ‘Startup India’ programme, aims to streamline collaboration between startups, investors, tech enablers, mentors, and other key stakeholders.
During the launch, Piyush Goyal emphasized that BHASKAR would unify various initiatives undertaken by the Central government to support startups, enhancing India’s reputation as a global startup hub.
He highlighted the platform’s potential to provide equal access to capital, technology, and critical resources for entrepreneurs across the country, including those in non-metro cities.
“We anticipate that BHASKAR will foster collaboration and competition among ecosystem players, driving a new wave of innovation and success,” Piyush Goyal stated.
The platform allows users to register as enablers, explorers, startup founders, students, individual investors, traditional businesses, or mentors.
Upon registration, users receive a unique Bhaskar ID, enabling them to connect with relevant resources and opportunities.
As of September 16, BHASKAR has attracted 460,000 registrations.
The platform’s search functionalities facilitate easy access to resources and collaborators, and it will also require annual membership renewals to ensure the accuracy and relevance of its listings.
In addition to the platform launch, Goyal proposed transforming BHASKAR and Startup India into a Section 8 company – a non-profit entity.
This move would integrate the National Startup Advisory Council and potentially issue shares to unicorn startups, allowing them ownership in the new entity.
Piyush Goyal suggested that this structural change would enable more direct engagement between the startup community and the government, accelerating policy implementations like the removal of the angel tax.
DPIIT Joint Secretary Sanjeev reported that India is currently home to over 146,000 startups, with a target to expand this number to 5 million in the coming years.
Recent efforts have led to startup registrations in 84 previously underserved districts.
The department aims to ensure at least one startup in every district by January 16, 2025, with ongoing efforts to identify startups in the remaining districts of Nagaland, Arunachal Pradesh, and Manipur.
BHASKAR follows the Bharat Startup Ecosystem Registry launched earlier this year, which showcased entrepreneurship and innovation.
Unlike its predecessor, BHASKAR offers enhanced search capabilities and data maintenance to ensure active participation from startups.
With BHASKAR’s launch, India’s startup ecosystem is poised for a new era of growth and innovation, bridging gaps and fostering a more inclusive environment for entrepreneurs nationwide.
