The National Startup Advisory Council (NSAC) is entering a new chapter as it reorganizes its non-official members after completing a two-year term. The government has chosen a special group of people to be part of this council. They will represent different groups involved in startups and work together to encourage new ideas, help startups, and boost the economy.
National Startup Advisory Council New Members
The newly appointed non-official members of NSAC bring a wealth of experience from different sectors, ensuring diverse and comprehensive representation. The council includes founders of successful startups, industry veterans, investors, representatives of incubators and accelerators, and leaders from various associations associated with the startup ecosystem.
Among the notable nominees are Sanjay Nayar from Sorin Investments, Abhiraj Singh Bhal from Urban Company, Kunal Bahl from Snapdeal, and Sanjeev Bikhchandani from Info Edge. The list also features individuals such as Dr. Renu Swarup, former Secretary of the Department of Biotechnology, and Ajai Chowdhry, the Founder of HCL.
NSAC's Two-Year Impact on Startup India Initiative
The NSAC's initial two-year term has served as a benchmark for stakeholder-driven public policy regimes. The council played a crucial role in devising and implementing programs and measures that addressed the evolving needs of the Indian startup ecosystem. Members have actively contributed to initiatives like the NavIC Grand Challenge, Startup India Investor Connect Portal, MAARG Portal, National Incubator Capacity Building Program, and Doordarshan’s Startup Champions.
The reconstituted NSAC is poised to convene its eighth meeting on December 19, 2023, under the chairmanship of Union Minister of Commerce and Industry, Piyush Goyal. This meeting is expected to set the agenda for the upcoming term and chart the course for further collaboration and support for the startup ecosystem in India.
NSAC's Mandate and Objectives
Established by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, NSAC aims to provide strategic advice to the government on building a robust ecosystem for nurturing innovation and startups. The council's objectives include fostering a culture of innovation, promoting innovation in all sectors of the economy, supporting creative ideas through incubation and research, and facilitating access to global markets for Indian startups.
NSAC will continue its efforts to:
- Foster a culture of innovation among citizens and students.
- Promote innovation across all sectors, including semi-urban and rural areas.
- Support creative ideas through incubation and research.
- Create an environment for the absorption of innovation in industry.
- Facilitate public organizations in adopting innovation to improve service delivery.
- Promote the creation, protection, and commercialization of intellectual property rights.
- Simplify regulatory compliances and reduce costs for startups.
- Facilitate access to capital and incentivize domestic and global investments.
- Maintain control of startups with original promoters.
- Provide access to global markets for Indian startups.
The reconstitution of the National Startup Advisory Council signifies a renewed commitment to driving innovation, entrepreneurship, and sustainable economic growth in India. The diverse and influential composition of the council ensures a comprehensive approach to addressing the challenges and opportunities faced by the Indian startup ecosystem. The upcoming meeting under the chairmanship of Piyush Goyal is anticipated to set the tone for a dynamic and collaborative journey ahead.
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