Vice President To Inaugurate A Large-Scale Startup Expo In North India

Utkarsh Classes Last Updated 05-01-2024

Vice President To Inaugurate A Large-Scale Startup Expo In North India

Place in News 4 min read

Vice President Jagdeep Dhankhar inaugurated a mega startup expo in Kathua, Jammu and Kashmir on January 4, 2024. Kathua is a border town sharing borders with Jammu and Kashmir, Himachal Pradesh and Punjab. An event on the topic “Emerging Startup Trends in North India” was organized in Kathua.

Apart from the Union Minister of State (Independent Charge) for Science and Technology, Dr. Jitendra Singh was also present in this program.
Vice President Dhankhar had two programs proposed in Jammu. First, he was to attend the convocation ceremony of Sher-e-Kashmir University of Agricultural Sciences and Technology (SKUAST), Jammu. After this, we reached Kathua to inaugurate the Biotech Startup Expo.

Increase in the number of startups in India:

According to Union Minister Jitendra Singh, the number of startups in India today is over 1.30 lakh, compared to around 350 in 2014. The number of unicorns has exceeded 100. Meanwhile, India ranks third in the world in its startup ecosystem.

The objective of the programme:

The event attracted budding entrepreneurs and experienced mentors to promote innovation, collaboration and growth.
The event embodies embracing change, creating solutions and ushering in new opportunities. The event witnessed various innovations by 25 selected startups in various sectors. It covers agricultural, industrial biotechnology, medical and diagnostic devices.
The event was organized to inform local youth about government startup schemes and funding opportunities. This will encourage youth to start careers as startups and help the country become self-reliant.
Kathua Mega Expo will not only boost startups in North India but also boost reach to other smaller cities.
In this, 25 startups from North India showcased their innovations and products.
Today, India has achieved back-to-back successes of ISRO, including Chandrayaan 3, Aditya Mission and XPoSat launched on January 1.
Digitization and monitoring systems have reduced procedural delays and created an enabling environment for startups.

About Startup India:

Startup India is a major initiative of the Government of India. Its objective is to create a strong ecosystem for startups and new ideas in the country. This will lead to the economic development of the country and the generation of employment opportunities on a large scale.
The startup has been registered in India for less than five years, with an annual turnover of Rs 25 crore in a financial year.
The Prime Minister unveiled an action plan of 19 action points in January 2016 under the Startup India initiative.
It envisages building a strong startup ecosystem in the country to promote innovation and provide opportunities to budding entrepreneurs.
This action plan laid the roadmap for building a conducive ecosystem for startups in India.