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Mechanism to track progress of start-ups

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News:

The Union Minister of State (Independent Charge), Dr Jitendra Singh, proposed a mechanism to track the progress of startups.

What:

  • It is a proposed mechanism to track the progress of start-ups.

Why:

  • A progress-tracking mechanism becomes necessary as the number of startups has increased to >1 lakh.

How:

  • Factors identified as adversely affecting the sustainability of startups:
    • Lack of innovation
    • Lack of skilled workforce
    • Lack of funds
  • Need an exercise to assess whether a ‘unique ID’ could be assigned to the startups for effective monitoring.
  • This could be especially implemented focusing on those startups receiving technical and financial support from the government.

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