Context:
DPIIT to launch Bharat Startup Knowledge Access Registry (BHASKAR) initiative for India’s Startup Ecosystem
BHASKAR Initiative:
- Stands for – Bharat Startup Knowledge Access Registry.
- Launched By – Ministry of Commerce and Industry under the Startup India program.
- Objective – To build the world’s largest digital registry for stakeholders within the startup ecosystem.
Key Features of the initiative:
- Networking – Bridges the gap between startups and other stakeholders.
- Facilitates seamless interaction across various sectors.
- Centralized Access to Resources – Provides startups with immediate access to critical tools and knowledge.
- Enables faster decision-making and efficient scaling.
- Personalized Identification – Assigns a unique BHASKAR ID to every stakeholder.
- Ensures personalized interactions and tailored experiences across the platform.
- Enhancing Discoverability – Powerful search features to locate relevant resources, collaborators, and opportunities.
- Promotes faster decision-making and action.
- Supporting India’s Global Brand – Promotes India’s global reputation as a hub for innovation.
- Facilitates cross-border collaborations for startups and investors.
- Significance –
- Ecosystem Development – Strengthens the startup ecosystem by fostering innovation and encouraging investments.
- Global Positioning – Enhances India’s position as a global innovation hub, making it easier for international collaborations.
Indian Start-up ecosystem:
- 3rd largest ecosystem for start-ups globally as of May 2023.
- In terms of Global Innovation Index (GII), 2nd among lower middle-income economies and 1st among Central and Southern Asian economies.
Read more about: National Start-up Advisory Council (NSAC)
Source: PIB
Previous Year Question
What does venture capital mean?
[UPSC Civil Services Exam – 2014 Prelims]
(a) A short-term capital provided to industries
(b) A long-term start-up capital provided to new entrepreneurs
(c) Funds provided to industries at times of incurring losses
(d) Funds provided for replacement and renovation of industries
Answer: (b)
