The Indian government is set to launch the Bharat Startup Knowledge Access Registry (BHASKAR), an innovative digital platform designed to foster collaboration and drive growth within India’s rapidly expanding startup ecosystem. The platform will be launched by Union commerce and industry minister Piyush Goyal on September 18, 2024, marking a crucial step toward realizing Prime Minister Narendra Modi’s vision of empowering the nation’s youth to turn their ideas into successful businesses.
BHASKAR will act as a centralized hub, connecting various stakeholders—including startups, investors, mentors, and service providers—to streamline and enhance interactions within the entrepreneurial landscape. According to a government spokesperson, this platform aims to facilitate smoother collaboration, making vital resources more accessible to startups and thus fortifying the startup ecosystem.
Key Features of BHASKAR
The platform is structured to achieve its primary goal of creating the world’s largest digital registry for stakeholders in the startup ecosystem. The key features include:
- Networking and Collaboration: BHASKAR will bridge the gap between startups, investors, mentors, and other stakeholders, promoting seamless interaction across sectors. This will foster stronger relationships within the entrepreneurial ecosystem.
- Centralized Access to Resources: The platform will consolidate crucial resources, giving startups immediate access to essential tools and knowledge. This will enable faster decision-making and efficient scaling.
- Personalized Identification: Each stakeholder will be assigned a unique BHASKAR ID, allowing for personalized interactions and tailored experiences across the platform, enhancing the overall user experience.
- Enhanced Discoverability: With powerful search features, users can easily find relevant resources, collaborators, and opportunities. This feature ensures quicker decision-making and prompt action.
- Supporting India’s Global Brand: BHASKAR will also promote India’s global standing as a hub for innovation, making cross-border collaborations more accessible to both startups and investors, further boosting India’s reputation in the global startup scene.
A New Era for India’s Startup Ecosystem
The Department for Promotion of Industry and Internal Trade (DPIIT) is the nodal agency overseeing BHASKAR, aligning the initiative with the government’s broader vision to turn India into a global leader in innovation and entrepreneurship. The platform’s features are designed to not only streamline operations within the startup ecosystem but also enhance India’s global visibility as a hub for entrepreneurial growth.
By consolidating resources and fostering networking, BHASKAR is poised to redefine India’s startup landscape, enabling faster scaling, better decision-making, and a more collaborative entrepreneurial environment.
India’s Growing Startup Ecosystem
Prime Minister Modi has long emphasized the importance of entrepreneurship, first speaking about it during his 2015 Independence Day address. The ‘Startup India’ initiative, launched in January 2016, sought to promote entrepreneurship and transform India into a nation of job creators rather than job seekers.
Today, India boasts the world’s third-largest startup ecosystem, with over 1.46 lakh recognized startups and more than 110 unicorns. The BHASKAR platform is a significant next step in continuing this momentum, ensuring that India remains at the forefront of global innovation and economic growth.
