New Initiative SWAYATT and GeM Start-up Runway launched

February 20, 2019

The Union Minister of Commerce and Industries Suresh Prabhu launched SWAYATT (Start-ups, Women and Youth Advantage Through eTransactions) and GeM Start-up Runway.

Objectives of SWAYATT

SWAYATT will bring together the key stakeholders within the Indian entrepreneurial ecosystem to Government e-Marketplace the national procurement portal. The objectives of SWAYATT are:

To promote inclusiveness by catapulting various categories of sellers and service providers.
Take proactive steps to facilitate the training and registrations of such specific category of manufacturers and sellers.
Develop women entrepreneurship and encourage participation of the MSME sector and Start-ups in public procurement.

Objectives GeM Start-up Runway

Start-up Runway will enable Start-ups to conduct market trials with government buyers, seek time-bound feedback and gain realistic product, price comparison and market valuation from potential buyers and investors. The objectives of the Start-up Runway are:

To align certified Start-ups with Government procurement orders and contracts.
To enable Start-ups in scaling operations from ideation to growth stage in minimal time.
Spur hyper-local job-creation and wealth-generation and for achieving socially-inclusive economic growth.
To support technology development, spur research and innovation by ensuring a conducive policy environment for industrial diversification and value addition to commodities.
Aligns with Government’s philosophy to turn Job-seekers into job-creators.

GeM Start-up Runway will address goals and objectives under United Nations Sustainable Development Goal 9: Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation.

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