The government’s digital platform for startups, BHASKAR (Bharat Startup Knowledge Access Registry), has made a strong impact since its launch in September by Commerce and Industry Minister Piyush Goyal. In just two months, the platform under the ‘Startup India’ initiative has registered 5 lakh users from 28 states and garnered over 7 lakh views.
BHASKAR has quickly become a critical resource for entrepreneurs navigating the complexities of India’s startup ecosystem. In the past week alone, 1,393 users signed up for the portal, with registrations spanning across India, including Tier II and Tier III cities. This broad participation aligns with the government’s efforts to decentralize the startup ecosystem, moving beyond urban centers.
As of June 2024, startups recognized by the Department for Promotion of Industry and Internal Trade (DPIIT) surpassed 1.4 lakh, a sharp increase from just 300 in 2016. This growth reflects the government’s initiatives to foster entrepreneurship nationwide, with new ventures emerging not only in hubs like Delhi, Mumbai, and Bengaluru but also in rising centers such as Chennai, Hyderabad, Pune, and Kerala.
The BHASKAR portal aims to further streamline the entrepreneurial journey by offering a centralized database for startups, promoting networking, and fostering collaboration among users. Designed to enhance access to critical data and resources, it serves as a hub for entrepreneurs, investors, mentors, and other stakeholders in India’s startup ecosystem.
Since its launch, the portal has contributed over 12% of the traffic to the Startup India domain. It seeks to expand resources, funding opportunities, market connections, incubation support, and mentorship, creating a more inclusive and diversified ecosystem.
The platform integrates data from various ministries, departments, and support organizations, eliminating silos in the startup ecosystem. By consolidating information into a single, free-to-use platform, BHASKAR ensures easy access to vital data for all stakeholders.
One of BHASKAR’s standout features is its “connect” function, which facilitates networking and collaboration among registered users. To date, this feature has enabled 17,000 connections.
Additionally, BHASKAR provides analytics and quantitative data to help stakeholders evaluate the efficiency of ecosystem components, enabling better cross-organizational collaboration and resource allocation.
With India already boasting the third-largest startup ecosystem globally and housing 118 unicorns, BHASKAR is poised to accelerate the growth of this ecosystem. By centralizing information, promoting collaboration, and providing critical resources, the platform is expected to play a pivotal role in India’s entrepreneurial future.
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