Wednesday, 28 June 2017

Commerce and Industry Minister writes to Members of Parliament to consider setting up co-working spaces/incubators for Start-ups

The Commerce and Industry Minister Smt. Nirmala Sitharaman has written a letter to all Members of Parliament to consider setting up co-working spaces/incubators for Startups in their constituency under the Members of Parliament Local Area Development Scheme Fund(MPLADS). She said this step will promote the Startup ecosystem in the country and help Startups in their constituency make rapid strides towards establishing themselves and also create jobs. 

In the letter Smt. Sitharaman said the Startup India initiative of the Government of India envisions building a strong eco-system for nurturing innovation in the country and empowering Startups to grow through innovation and design. She said the Government has been making all-out efforts towards realizing the vision of the Startup India Mission. 

The Minister said we have been interacting with various Startups regarding their business needs and support that they expect from the Government. She said one of the crucial aspects that needs to be addressed in this regard is infrastructure. She said Startups may not be able to own/hire working space due to financial constraints, thereby, it was suggested that if Government could support in creating co-working spaces, it could help translate their ideas into successful businesses. 


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