Govt will be scaling up network of incubators, accelerators to phenomenally multiple levels: Ashwini Vaishnaw

Minister of Electronics and Information Technology, Ashwini Vaishnaw on Tuesday said that the government will be scaling up the network of incubators and accelerators to phenomenally multiple levels in the next 3 years.

Talking about the entrepreneurship and innovation ecosystem in the country, the Minister said: "The number of incubators and accelerators which is around 100 at present, is not sufficient for a country of over 130 Crore population, and hence the government will be scaling up the network of incubators and accelerators to phenomenally multiple levels in the next 3 years."

"All of these will be professionally managed and housed in institutions, industries and places where they will add real value," he said.

On the occasion of Azadi Ka Amrit Mahotsav, the minister launched the 'Amrit Mahotsav Shri Shakti Challenge 2021.'

Vaishnaw said, "I hope we will see many participants who will convert their concepts into products and take them to the pitching stage."

The aim is Nari Sashaktikaran that is, to empower women to help them achieve their full potential. Winners of 'MeitY-NASSCOM Startup Women Entrepreneurs' Awards were also announced during the event, read the release by the Ministry of Electronics & IT.

"We would all be partners in this journey, and the Ministry of Electronics & Information Technology (MeitY) will always be your journey towards becoming successful entrepreneurs," Vaishnaw said.

The minister further added that Prime Minister Narendra Modi's government for the last seven years has set a new benchmark in inclusive development.

Emphasising the philosophy of 'Sabka Saath Sabka Vikas Sabka Vishwas', the minister reflected on PM Narendra Modi's flagship scheme towards women empowerment.

He further added that the government would be supporting the entrepreneurs and the startups in the initial risk phase which is the most challenging phase as the angel investors and venture capitalists may not like to risk their time and money.

The minister stated that during this period of startup, the government will step in and will provide support.

"We are looking for a million entrepreneurs to make their mark and create new jobs," he added.

( With inputs from ANI )