Giving a fillip to industry-startup collaborations, Prof. Ashutosh Sharma, Secretary, Department of Science and Technology (DST), Government of India recently said that if a company partners with a startup, then the DST will also partner with it and extend a matching grant to help it scale up.
‘‘This is of significant news as Vizag Industrial Scan had initiated the Industry-Startup connect program last year to connect startups with industry. VIS has already done two events connecting startups with industry and helping them explore mutual areas of collaboration.’’
The secretary was speaking at a recent FICCI event on India Innovation Growth Programme (IIGP) 2.0, wherein he said that the department may take the decision on providing a matching grant to the successful startup in a month or two.
“If industry is partnering with a startup putting an x amount of money, depending on the plans and other things, then DST will also partner and probably would put a matching amount of money in that startup,” he said, adding the challenge for startups is to scale up and transition into stable businesses.
This is of significant news as Vizag Industrial Scan had initiated the Industry-Startup connect program last year to connect startups with industry. VIS has already done two events connecting startups with industry and helping them explore mutual areas of collaboration.
During VIS’s May 15th 2019 event Mr MS Rao, IAS President & CEO National e-Governance Division (NeGD) Ministry of Electronics and Information Technology (MeitY) Government of India had graced the VIS industry startup connect initiative as the chief guest along with other heads of PSUs and industries. Lauding VIS’s initiative Mr Rao had stated ‘This is a wonderful initiative undertaken by VIS to bring startups and Industry together and explore opportunities of collaboration’. Seven of India’s most iconic PSUs presented some of their most pertinent problem statements to startups who in turn got an opportunity to interact with industry and importantly pitched some of their unique solutions/service offerings. With this idea of matching grant industry shall further get an impetus to collaborate with startups and make it more rewarding for both.
It was further informed that the government is coming up with startup centres worth Rs 150 crore each to help the startups access the resources, especially hardware, he said. Three centres will be launched this year, followed by 3-4 centres per year, thus creating a total of 20 such centres, added the Professor.