DPIIT to Introduce BHASKAR, a Ground-Breaking Platform for India's Startup Community

The Department for Promotion of Industry and Internal Trade (DPIIT), which is part of the Ministry of Commerce and Industry, is planning to establish a revolutionary digital platform to enhance India's startup ecosystem. The Bharat Startup Knowledge Access Registry (BHASKAR) initiative is a platform that is designed to centralize, streamline, and enhance collaboration among key stakeholders within the entrepreneurial ecosystem. These stakeholders include startups, investors, mentors, service providers, and government bodies. The BHASKAR initiative is part of the Startup India program.

The Government of India has a mission to convert India into a global leader in innovation and entrepreneurship. This effort matches that ambition, and it reinforces the country's commitment to the startup movement.

Calling this initiative a master stroke, Shreya Sharma, Founder, Rest The Case stated, "The launch of BHASKAR is a very innovative step to fuel the Startup Ecosystem further. As of now, India globally ranks as the 3rd largest ecosystem for startups. The sector has seen significant growth since COVID-19, and the wind hasn’t dropped yet!"

"India is home to almost 100+ unicorns, which in itself is proof of the rising popularity of Startups! However, red-tapism remains a challenge, and along with that, the easy-to-business also needs improvement. With the launch of BHASKAR, there is a chance for entrepreneurs to find easy guidance on a single platform. They will no longer have to go through the painstaking process of 'trying to find the right thing'. The launch of such a platform, backed by the Government, is a promise that I feel all startups and budding entrepreneurs can look up to for growth and innovation" she added.

Similar thoughts were shared by Tanay Sharma, COO & Co- Founder CITTA, "I see the launch of the BHASKAR platform by DPIIT as a game-changer for the Indian startup ecosystem, especially in B2C sectors like ours. The beauty and wellness industry, particularly in baby care, requires constant innovation, research, and consumer-centric solutions. BHASKAR, with its focus on fostering collaboration, access to mentorship, and streamlined processes for startups, aligns perfectly with our growth objectives."

"In the long term, BHASKAR is poised to empower startups by providing access to critical resources, mentorship, and funding, enabling us to scale faster and more efficiently. We are excited about the opportunities this platform creates, allowing us to grow while staying true to our core values of delivering safe, pure, and trusted solutions to our consumers,” he opined further.

Boosting Creativity with a Centralised Hub

India has swiftly become one of the most dynamic startup centres in the world. It is home to more than 1,46,000 companies that have been recognised by the DPIIT institution. Through the provision of an all-encompassing, one-stop digital platform that addresses the issues that are encountered by both investors and entrepreneurs, BHASKAR intends to capitalise on this potential. Through its role as a centralised register, BHASKAR will make it possible to gain unhindered access to a vast assortment of resources, tools, and information that will assist in fostering the entrepreneurial journey from the stage of ideation to the stage of execution.

Within the context of the startup ecosystem, BHASKAR is intended to cultivate an atmosphere that is conducive to the development of growth, networking, and collaboration. The platform will make it easier for stakeholders to connect with one another, improve search ability, and make it possible to uncover relevant opportunities and collaborations in a more efficient manner. This will be accomplished by offering personalised BHASKAR IDs to participants.

Product Highlights of BHASKAR

The creation of the largest digital register in the world for stakeholders within the startup ecosystem is the primary objective of the BHASKAR project. Several major elements will be offered by the platform in order to accomplish this goal.

The BHASKAR platform would facilitate smooth engagement between entrepreneurs, investors, mentors, and other stakeholders, hence facilitating networking and collaboration. This will allow for seamless interaction across different industries.

By unifying resources, the platform will give entrepreneurs with quick access to crucial tools and expertise, hence enabling faster decision-making and more efficient scaling. This will be accomplished by providing centralised access to resources.

The process of creating personalised identification will involve assigning a one-of-a-kind BHASKAR ID to each and every stakeholder. This will ensure that interactions and experiences throughout the platform are personalised and suited to the individual.

Users are able to readily identify relevant resources, collaborators, and opportunities by utilising strong search options, which ensures that decisions and actions are made more quickly.

BHASKAR will act as a vehicle for boosting India's global reputation as a powerhouse for innovation, thereby making cross-border partnerships more accessible to both investors and startups. This will further India's efforts to support its global brand.

Promoting the Growth of India's Startup Community

In the continued efforts of the government to encourage innovation, business ownership, and the creation of new jobs, the introduction of BHASKAR represents a significant step forward. In order to facilitate collaboration, the sharing of ideas, and the acceleration of growth, it will function as a central hub where government organisations, investors, service providers, and startups can all come together.

Through the facilitation of easy access to knowledge and resources, BHASKAR will assist in unlocking the full potential of India's startup ecosystem, hence boosting the country's rise as a global leader in the field of entrepreneurship. The platform will play a crucial role in the development of an economy that is more economically robust, inclusive, and innovation-driven, thereby setting the groundwork for a successful future. The Government of India extends an invitation to all relevant parties to participate in this endeavour that would bring about transformation.

The Indian Government Is Encouraging Pharmaceutical Startups by Forming Relevant Policies and Initiatives

The Startup India Initiative was initiated on January 16, 2016, to promote innovation and encourage investments across various businesses, including the pharmaceutical sector.

StartupTalkyNitin Konde