In a recent development, the 8th meeting of the National Startup Advisory Council (NSAC) took place in New Delhi, led by Union Minister of Commerce and Industry, Piyush Goyal. The NSAC, reconstituted with non-official members, is a crucial player in shaping public policy for the Indian startup ecosystem.
After the recent reconstitution, the Ministry of Commerce nominated non-official members to represent diverse stakeholders in the startup community. Over the past two years, NSAC has played a pivotal role in developing programs to meet the evolving needs of startups in India.
At the end of the two-year term, the Central Government nominated non-official members from various backgrounds, including founders of successful startups, experienced individuals in scaling companies, representatives of investor interests, and figures from incubators and accelerators. The reconstituted NSAC now boasts 31 non-official members, including notable personalities like Rikant Pitti, Co-Founder of Easy Trip Planners, Sanjay Nayar of Sorin Investments, Kunal Bahl from Snapdeal, and Sanjeev Bikhchandani of Info Edge.
Expressing his gratitude, Rikant Pitti stated, “I am honored to be nominated as a member of the National Startup Advisory Council. This presents an excellent opportunity to influence policies that will drive innovation and contribute to the growth of startups in our country.”
Instituted by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, NSAC advises the government on measures to build a robust ecosystem for fostering innovation and startups in India. The council, with a two-year term, focuses on promoting a culture of innovation, supporting creative ideas through incubation and research, facilitating innovation adoption by public organizations, and enhancing access to capital for startups.
The NSAC will maintain its focus on mobilizing global capital for Bharatiya startups, promoting ease of doing business, and providing startups with access to global markets. The council’s commitment to driving innovation and supporting startups is expected to contribute significantly to the growth of the startup ecosystem in the country.
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