Union Minister of Commerce and Industry has chaired the 4th meeting of National Startup Advisory Council (NSAC) in New Delhi.
Details –
The Minister also launched NavIC Grand Challenge which aims at promoting adoption of NavIC as geo-positioning solution, a key proponent for digital Aatmanirbharta.
The applications for the grand challenge are open on Startup India’s website (www.startupindia.gov.in) and it aims to identify and handhold solutions of startups which are engaged in developing NavIC enabled drones.
About the ‘National Startup Advisory Council’ –
The National Startup Advisory Council is chaired by Minster for Commerce & Industry.
The Council consists of the non-official members, to be nominated by Central Government, from various categories like founders of successful startups, veterans who have grown and scaled companies in India, persons capable of representing interests of investors into startups, persons capable of representing interests of incubators and accelerators and representatives of associations of stakeholders of startups and representatives of industry associations.
The term of the non-official members of the Startup Advisory Council will be for a period of two years.
Significance –
The Council will suggest measures to foster a culture of innovation amongst citizens and students in particular, promote innovation in all sectors of economy across the country, including semi-urban and rural areas.
It will support creative and innovative ideas through incubation and research and development to transform them into valuable products, processes or solutions to improve productivity and efficiency and create an environment of absorption of innovation in industry.
It will also suggest measures to facilitate public organisations to assimilate innovation with a view to improving public service delivery, promote creation, protection and commercialisation of intellectual property rights, make it easier to start, operate, grow and exit businesses.
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