Inspired by Silicon Valley, India proposes a dedicated township for startups

New Delhi: India boasts three dynamic startup hubs in Bengaluru, Delhi, and Mumbai, but commerce minister Piyush Goyal believes a dedicated township for startups could help replicate Silicon Valley’s success.

A focused township would offer startups access to resources, mentorship, and financial support while promoting innovation, collaboration and knowledge-sharing, Goyal said, launching the Bharat Startup Knowledge Access Registry (BHASKAR) under the Startup India programme.

The initiative aims to be a centralized platform for stakeholders such as startups, investors, mentors, service providers, and government agencies, aligning with India’s broader goal of positioning itself as a global hub for innovation and technology.

Silicon Valley in California is a global hub for technology and innovation and home to some of the world’s biggest tech companies including Apple Inc., Google’s parent Alphabet Inc., and Meta Platforms Inc., which houses WhatsApp, Instagram and Facebook.

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“It’s time to start thinking of creating a whole new township for entrepreneurs, startups, innovators, and people with ideas. It should resemble a society, spread over about 200 acres, to develop an ecosystem that encourages the exchange of ideas,” Goyal said.

“Often, someone may have a great idea but no clear path or support on where to take it. This township would provide that platform, helping connect innovators with the right resources and networks to bring their ideas to life.”

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A central registry of startups

The Union commerce ministry has asked officials of the Department for Promotion of Industry and Internal Trade (DPIIT) to assess the need for a dedicated startup township with all stakeholders.

Under the Startup India program, the government already operates several digital platforms for India’s startup ecosystem—the Startup India Investor Connect Portal for raising capital; the National Mentorship Portal for guidance; Startup India Hub for stakeholder networking; and Startup India Showcase, which highlights top-performing startups selected through various government programs.

Also, the Startup India Seed Fund Scheme helps startups with developing proof of concept, prototype development, product trials, and market entry.

“BHASKAR will be a digital central registry of stakeholders, involving nearly 1.5 lakh (150,000) startups, with facilities for searchability, interaction, and knowledge sharing,” said Sanjiv, joint secretary, DPIIT. “The platform will focus on streamlining collaboration to address existing challenges in the ecosystem and promote entrepreneurship and job creation.”

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India, currently the world’s third-largest startup ecosystem behind the US and China in terms of the number of startups, saw a 42% increase in venture capital funding between January and July, according to data from analytics company GlobalData. During this period, a total of $6.3 billion was raised across 672 deals.

The government offers startup registration to enterprises that have been operational in India for up to 10 years and are registered as a private limited company, partnership firm, or limited liability partnership. Additionally, the annual turnover of such a company must not have exceeded ₹100 crore in any financial year since incorporation.

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