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Commerce minister Piyush Goyal recently proposed developing dedicated townships for startups in India. They could significantly boost the ecosystem in the country, offering the infrastructure and resources needed for startups to thrive. Mint explains the idea:
What are startup townships?
The idea comes from Russia, where the government develops dedicated townships. They include the Skolkovo Innovation Centre near Moscow, Innopolis near Kazan (in Tatarstan), Zhigulevsk Valley Technopark in the Samara region and Akademgorodok near Novosibirsk in Siberia. In Russia, startups must register with the government. Once registered, they are allocated space within these townships. The space is offered either for rent or purchase. This approach, which minimizes the challenge of securing affordable workspace, has allowed Russian startups to flourish—the country has over 21,500 of them.
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What exactly is India planning?
Townships of up to 500 acres each are being planned to bring together entrepreneurs, innovators and investors. They can access critical resources, mentors and facilities under one roof. The plans were outlined last week by minister Goyal during the launch of the Bharat Start-up Knowledge Access Registry (BHASKAR)—a platform for entrepreneurs, investors, mentors and policymakers. The townships will be built by the National Industrial Corridor Development Corporation (NICDC). The government has also approved the development of 12 industrial smart cities in 10 states.
Where will these townships be located?
The startup townships are likely to be established near existing hubs such as Bengaluru, Delhi and Mumbai. These are key centres of technological and entrepreneurial activity. By situating these townships close to established ecosystems, the government hopes to foster collaboration between seasoned entrepreneurs and emerging startups.
Read more: From growth at all costs to sustainable growth: the maturing of Indian startups
What could be India’s first steps?
Consultations are on between the department for the promotion of industry and internal trade (DPIIT) and stakeholders such as technical institutions (IIT Madras and Bombay) and industry bodies. The idea is to ensure that the townships are designed with feedback from those who understand the needs of the startup ecosystem. DPIIT may also work with financial institutions to conduct feasibility studies and develop a funding plan. One idea is to develop the townships as public-private partnerships.
How has India fared with startups?
The Startup India Programme, launched in 2016, has contributed to the success of more than 146,000 startups, the government claims. The Centre operates several digital platforms. Some of these are the Startup India Investor Connect portal, National Mentorship portal MAARG (Mentorship, Advisory, Assistance, Resilience, Growth), Startup India Showcase and Startup India Seed Fund. India is the world’s third-largest startup ecosystem behind the US and China in the number of startups.
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