Union Commerce and Industry Minister Piyush Goyal is set to launch the Bharat Startup Knowledge Access Registry (BHASKAR) on Monday. This interactive online platform aims to further develop India’s startup ecosystem, which is the third largest in the world, and aligns with Prime Minister Narendra Modi’s vision of transforming youth ideas into successful businesses.
Purpose of BHASKAR
The BHASKAR platform will centralize and streamline interactions among crucial stakeholders in the entrepreneurial ecosystem, including:
- Startups
- Investors
- Mentors
- Service Providers
- Regulatory Bodies
Key Features
- Networking and Collaboration:
- Bridging Gaps: Connects startups with investors, mentors, and other stakeholders.
- Seamless Interaction: Facilitates communication across various sectors.
- Personalized BHASKAR IDs:
- Unique Identification: Each stakeholder receives a unique ID for personalized interactions.
- Enhanced Searchability: Allows for efficient discovery of opportunities and partnerships.
- Resource Consolidation:
- Immediate Access: Provides startups with critical tools and knowledge.
- Efficient Scaling: Supports faster decision-making and growth.
- Powerful Search Features:
- Resource Location: Users can easily find relevant resources, collaborators, and opportunities.
- Global Reputation: Enhances India’s standing as a hub for innovation.
Government’s Vision
The launch of BHASKAR is part of the government’s broader strategy to transform India into a global leader in innovation and entrepreneurship. The platform aims to:
- Redefine the Startup Landscape: Create a more connected and collaborative environment.
- Foster Innovation: Help startups overcome challenges and build solutions for the future.
- Strengthen Global Standing: Promote India’s reputation and facilitate cross-border collaborations.
Historical Context
- Startup India Initiative: Launched on January 16, 2016, following PM Modi’s Independence Day speech on August 15, 2015.
- Startup Ecosystem Growth: From negligible presence before 2014, India now boasts the third largest startup ecosystem globally with over 1.46 lakh DPIIT-registered startups.
Prime Minister’s Remarks
- Startup Impact: Startups have altered the perception of funding needs and contributed significantly to job creation.
- Achievements: India now has over 110 unicorns and around 12,000 patents filed by startups.
Multiple-Choice Questions (MCQs):
1. What is the primary goal of the Bharat Startup Knowledge Access Registry (BHASKAR)?
- A) To increase startup funding
- B) To centralize and streamline interactions among startup ecosystem stakeholders
- C) To reduce regulatory requirements
- D) To provide government grants to startups
- Answer: B) To centralize and streamline interactions among startup ecosystem stakeholders
2. Which of the following features is NOT mentioned as part of BHASKAR?
- A) Personalized BHASKAR IDs for stakeholders
- B) Direct funding opportunities for startups
- C) Networking and collaboration tools
- D) Powerful search features for locating resources
- Answer: B) Direct funding opportunities for startups
3. How does BHASKAR aim to enhance India’s global reputation?
- A) By reducing startup taxes
- B) By facilitating cross-border collaborations
- C) By increasing government grants
- D) By limiting startup registrations
- Answer: B) By facilitating cross-border collaborations
4. What was the main focus of the Startup India initiative launched on January 16, 2016?
- A) Providing tax breaks to established companies
- B) Transforming India into a country of job creators instead of job seekers
- C) Offering subsidies to international companies
- D) Promoting government jobs
- Answer: B) Transforming India into a country of job creators instead of job seekers
5. As of the latest data, how many DPIIT-registered startups are there in India?
- A) 1.25 lakh
- B) 1.46 lakh
- C) 1.5 lakh
- D) 1.2 lakh
- Answer: B) 1.46 lakh