Now, Startups Have a GPT and a One-Stop-Shop for All Information

A One-Stop-Shop platform has been launched for Indian startups by Union Minister Rajeev Chandrashekkar. The article delves into how this platform will aid startups and introduces the AI-powered tool, StartupGPT. Read all the details in the article.

Swati Dayal
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The Indian startup community now has access to a comprehensive platform, serving as a One-Stop-Shop for investor information, government schemes, and research analysis. The platform caters to entrepreneurs seeking information on government agencies, incubators, investors, venture capitalists (VCs), and banks investing in startups. It introduces a unique AI-based conversational feature named "StartupGPT," designed to simplify data navigation for users dealing with extensive information.

The 'Investor Information and Analytics Platform' was officially launched by Union Minister Rajeev Chandrasekhar, covering areas such as Electronics, IT, Skill Development, Entrepreneurship, and Jal Shakti. Developed by IIT Madras, the platform aims to provide researchers insights into the depth and diversity of the startup innovation ecosystem.

“This platform will help researchers to understand how vast, deep, and diversified our startup innovation ecosystem is,” said the Minister.

How will ‘Investor Information and Analytics Platform’ help the Startups?

This platform acts as a centralized hub for startups, offering seamless access to VC networks, investor databases, government schemes, and other essential components of the startup landscape. Developed by the Center for Research on Startups and Risk Financing (CREST) at IIT Madras, it is poised to significantly assist startup founders and young Indians aspiring to create innovative solutions for India and beyond.

The Minister expressed his appreciation for addressing a visibility gap in the innovation ecosystem, emphasizing the platform's value for researchers and policymakers. Chandrasekhar commended the holistic approach taken by the platform, essential for comprehensive research and understanding the thriving startup innovation ecosystem.

Rajeev Chandrasekhar said, “Congratulations on launching this platform. I believe you are certainly addressing a gap in our visibility of the innovation ecosystem—how vast, deep, and diversified our startup innovation ecosystem is. I view this as a valuable resource for researchers who will study and utilize it to comprehend the growth within the ecosystem. This understanding can also help public policymakers in crafting responses and initiatives aligned with these dynamics. This holistic approach is crucial for comprehensively researching the innovation ecosystem, particularly to understand that we have created a thriving startup innovation ecosystem in the past 2-3 years. There is much more to come, with the next wave of innovation emerging from areas such as semiconductors, microelectronics, AI, HPC, among others.”

What is StartupGPT?

An integral feature, "StartupGPT," an AI-based conversational platform, enables users to ask queries in simple language, facilitating real-time access to information. Full access to this sustainability-focused platform is available at a nominal cost, ensuring maximum benefit for entrepreneurs.

The platform boasts an extensive database, including information on over 200,000 startups, 11,000 angel investors, 5,000 VCs, 1,000 incubators, 100 government agencies funding startups, and 550 supportive banks.

Who Developed the Platform?

IIT Madras collaborated with YNOS Venture Engine, an incubatee startup, to develop the platform, leveraging private sector enterprise strengths. This partnership ensures continuous updates and 24/7 availability for users through the platform's link:

Professor Thillai Rajan A, Head of CREST at IIT Madras, highlighted the platform's role in driving innovation and startups in India. 

“The translation of innovation to commercial products and services requires the confluence of innovators, mentors, start-up founders, investors, and funding agencies. As India progresses towards a Viksit Bharat on the back of a strong innovation driven economy, platforms such as these would play an important role in democratising access to information and capital that can accelerate the commercialization of innovation. The biggest beneficiaries would be the hundreds and thousands of young entrepreneurs who would be able to easily identify the experts, investors and mentors most appropriate for their ventures,” he said.

Prof Thillai Rajan A, also a faculty in Department of Management Studies, IIT Madras, added, “The platform is a fine example of India’s top ranked academic institution using their research expertise in developing a product that contributes to a national cause. Indian entrepreneurs are known for their frugal innovation. Developing a world class platform such as this purely through private enterprise would have made this beyond the reach of early-stage entrepreneurs, who have limited resources. I am grateful to the support of IIT Madras and the Government of India for conceptualising and supporting the Institute of Eminence Scheme because of which the platform has become a reality.”

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