National Startup Advisory Council (NSAC)

As the two-year term of the National Startup Advisory Council (NSAC) concludes, the Central Government has nominated non-official members representing diverse stakeholders. This move, in accordance with the Gazette notification, marks a significant step in ensuring continued expertise and guidance in the startup ecosystem. The NSAC, a pioneering example of stakeholder-driven public policy, has played a vital role in shaping programs and measures to meet the evolving needs of the Indian startup landscape.

Representation Across Key Stakeholders

The newly nominated non-official members bring a wealth of experience from various domains, including founders of successful startups, industry veterans with a track record of scaling companies in India, representatives of investor interests, and individuals capable of representing incubators, accelerators, and industry associations.

NSAC’s Two-Year Journey

The NSAC’s two-year journey has been instrumental in the expansion of the Startup India initiative. Council members have actively contributed to key programs such as the NavIC Grand Challenge, Startup India Investor Connect Portal, MAARG Portal, National Incubator Capacity Building Program, and Doordarshan’s Startup Champions. Their ownership and mentorship have significantly influenced the growth of the startup ecosystem in India.

Upcoming Eighth Meeting

The eighth meeting of the NSAC is scheduled to take place on December 19, 2023, under the chairmanship of Union Minister of Commerce and Industry, Shri Piyush Goyal. This gathering is anticipated to be a forum for strategic discussions and further initiatives to support innovation and startups in the country.

NSAC’s Mandate

Constituted by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, the NSAC has a comprehensive mandate. It regularly convenes to suggest measures aimed at fostering innovation, promoting startups across sectors and geographies, supporting creative ideas through incubation and research, and facilitating ease of doing business.

Future Focus Areas

The NSAC’s focus areas encompass a broad spectrum, including promoting innovation, supporting public service delivery through innovation, facilitating intellectual property rights, reducing regulatory compliances and costs for businesses, enhancing access to capital, incentivizing domestic and global investments, and providing startups with access to global markets.

Month: Current Affairs - December, 2023

Category: India Nation & States Current Affairs