Centre Unveils BHASKAR: Union Commerce and Industry Minister Piyush Goyal is set to launch the Bharat Startup Knowledge Access Registry (BHASKAR), an interactive online platform designed to further strengthen the world’s third-largest startup ecosystem. This initiative aims to realize Prime Minister Narendra Modi’s vision of empowering youth to turn innovative ideas into successful businesses.
According to a government spokesperson, BHASKAR will centralize and streamline collaboration among key stakeholders in the entrepreneurial ecosystem, including startups, investors, mentors, service providers, and regulatory bodies. By providing unique BHASKAR IDs for each stakeholder, the platform will facilitate interactions, enhance searchability, and make discovering opportunities and partnerships more efficient.
Prime Minister Modi, speaking at the ‘Startup Mahakumbh‘ on March 20, praised startups for changing the mindset that substantial capital is required to start a business. He commended the youth for creating jobs rather than seeking them, noting that over 1.46 lakh recognized startups now employ more than a million people. The Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce and Industry, is spearheading this initiative.
BHASKAR aims to build the world’s largest digital registry for stakeholders in the startup ecosystem. It will feature advanced networking tools, facilitating seamless interaction among startups, investors, mentors, and other stakeholders. By consolidating resources, it will offer startups immediate access to crucial tools and knowledge, fostering faster decision-making and efficient scaling. Enhanced search capabilities will enable users to quickly find relevant resources and collaborators, promoting cross-border partnerships and elevating India’s status as a global innovation hub.
The platform is expected to redefine India’s startup landscape, creating a more connected and collaborative entrepreneurial environment. As the startup ecosystem expands, BHASKAR will play a vital role in bolstering India’s global standing in entrepreneurship, fostering a culture of collaboration to address future challenges. This launch underscores the government’s commitment to positioning India as a leader in global innovation, entrepreneurship, and economic growth.
Prime Minister Modi initially advocated for grassroots entrepreneurship through the ‘Startup India’ and ‘Standup India’ campaigns in 2015, focusing on transforming India into a nation of job creators. Since the launch of the Startup India initiative in 2016, India has become the world’s third-largest startup ecosystem, boasting more than 110 unicorns and around 12,000 patents filed by startups.