Govt sets up National Startup Advisory Council

  • The government stated that it has set up a National Startup Advisory Councilto advise the Centre on measures needed to build a strong ecosystem for nurturing innovation and start-ups in the country.
  • The Council will suggest measures to foster a culture of innovation among students and others.
  • It will also suggest measures to facilitate public organisations to assimilate innovation, promote creation, protection and commercialisation of intellectual property rights, make it easier to start, operate, grow and exit businesses by reducing regulatory compliances and costs.
  • Further, the ministry stated the Council will suggest ways to promote ease of access to capital for start-ups, incentivise domestic capital for investments, mobilise global capital for investments, and keep control of start-ups with original promoters.
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