DPIIT Launches StartupShala Flagship Accelerator Program

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DPIIT has introduced the StartupShala flagship accelerator program, aimed at fostering investments, facilitating networking opportunities, and providing mentorship to startups. Webinars titled ‘How to Start Up’ were also organized for students and aspiring entrepreneurs, adding value to the entrepreneurial ecosystem.

The Department for Promotion of Industry and Internal Trade (DPIIT) in India is one of the crucial government departments focused on fostering economic growth and development. Operating under the Ministry of Commerce and Industry, DPIIT plays a pivotal role in formulating policies to promote industrialization, foreign investments, and internal trade.

During the Startup India Innovation Week, Union Minister Piyush Goyal presided over a roundtable dedicated to unicorns, where the emphasis was on celebrating their growth and devising a collaborative strategy to propel the emergence of more unicorns in India. The 40 unicorns in attendance shared insights gleaned from their experiences, identified key growth enablers, and pinpointed areas for enhancing the overall ecosystem to position India as a global leader in startups.

Minister Goyal encouraged the unicorns to unite and establish a club or association dedicated to unicorns, aimed at generating solutions for improving access to capital for startups across the nation. The discourse revolved around simplifying regulatory procedures to cultivate a more startup-friendly atmosphere, expanding outreach to Tier-2/3 cities, and drawing inspiration from the exemplary practices instituted by private sector financial institutions.

The Department for Promotion of Industry and Internal Trade (DPIIT) marked an occasion this year by bringing together key startups, entrepreneurs, investors, policymakers, and various stakeholders in the field of innovation and entrepreneurship across the nation. This celebration took place from January 10th to January 18th, 2024.

This program spans three months and is designed for early-stage startups, providing them with resources such as knowledge, networking opportunities, funding, and guidance for scaling up. Each cohort within the program will have a specific sector focus, with the inaugural one concentrating on CleanTech.

The selection process involves experts handpicking 20 startups per cohort through an open call for applications. Interested parties can submit their applications on Startup India Hub, with the application window opening on January 10th, 2024: StartupShala Application.

Under the banner of the ‘MAARG Mentorship Series for Budding Entrepreneurs,’ five webinars were orchestrated, each delving into the intricacies of launching a startup. Esteemed industry leaders and mentors shared invaluable insights and fundamental lessons. These sessions unfolded in real-time on Startup India’s social media platforms and the MYBharat portal.

The pulse of entrepreneurship resonated throughout the Startup India Innovation Week, which featured over 75 physical events. Serving as a potent catalyst, the week showcased India’s vibrant ecosystem, sparking inspiration in the hearts of countless prospective founders.

From empowering workshops tailored for women entrepreneurs to incubator champion training grounds, the week was a melting pot of mentorship and wisdom exchange between mentors and mentees, setting the stage for future trailblazers.

Throughout the week, roundtable discussions unfolded across various cities, fostering stakeholder dialogue and forging alliances that are poised to shape the future of the startup landscape. The one-to-one mentorship programs were also launched connecting startups with corporate giants.

The mentorship programs offer tailored guidance in financial lending, operational strategies, sustainable innovations, and disruptive technologies. Corporate heavyweights such as HCL, HSBC India, Qualcomm India Private Limited, and TCS Foundation enthusiastically joined as partners in this transformative initiative.

The series extended its reach beyond borders with a virtual panel discussion featuring global partners of Startup India, shedding light on the five pivotal pillars of Innovation, encompassing Incubation, Funding, Public-Private Partnership Models, Market Access, and Government Infrastructure.

To amplify awareness about innovation and sustainability, a workshop in Mumbai enlightened startups about the benefits available to them through the Government e-Marketplace (GeM). Furthermore, a Workshop on Public Procurement at the University of Hyderabad in Telangana, held on January 9, 2024, drew the participation of over 70 enthusiastic entrepreneurs.

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