India to closely observe progress of govt-funded startups: MoS Jitendra Singh

New Delhi, May 15 (KNN) Minister of State (Independent Charge) for Science and Technology, Dr Jitendra Singh said on Sunday that the central government is keen in setting up a monitoring system to keep a tap on the progress of startups especially the ones funded by the government.

He said the government has proposed the setting up of a mechanism as the numbers of startups have risen to more than a lakh.

The purpose of the mechanism will be to closely follow the growth of startups, see how to sustain them so that they do not lose out, he said.

MoS was addressing the valedictory function and Awards Ceremony of the National Technology Week Exposition at Pragati Maidan in New Delhi.

The minister said that over the years startups have witnessed a shift from IT to Biotech and Earth Sciences as new opportunities have opened in Oceanography.

“One is age factor, I have seen a scientist setting up a startup after retirement; second is higher qualification, you just need to be an innovator, having an inherent quest for creativity,” he said.

Principal Scientific Advisor Ajay Kumar Sood suggested that there should be a Startup Day & Week on the patterns of the National Technology Day & Week.   (KNN Bureau)