Prime Minister Narendra Modi, while addressing the ‘Startup Mahakumbh’ at Bharat Mandapam, lauded the growth of the startup ecosystem in India, particularly in tier 2 and tier 3 cities.
The Prime Minister highlighted the role of the ‘Startup India’ initiative in providing a platform for innovative ideas, connecting them to funding sources, and fostering ‘Tinkering Labs’ and ‘Incubating Labs’. He emphasized that these efforts have significantly helped the youth from smaller cities to incubate their ideas.
“Today, we can proudly say that our startup ecosystem is not limited to megacities. In fact, youth from small cities are pioneering the revolution in the startup ecosystem,” said PM Modi.
The Prime Minister’s remarks underscore the government’s commitment to fostering innovation and entrepreneurship across the country, not just in its metropolitan hubs. This approach is expected to further democratize the startup ecosystem and spur economic growth in smaller cities.
The ‘Startup India’ initiative, launched in 2016, has been instrumental in promoting a culture of innovation and entrepreneurship in India. It has not only provided a platform for entrepreneurs to bring their ideas to life but also connected them with potential investors.
The initiative’s ‘Tinkering Labs’ and ‘Incubating Labs’ have played a crucial role in nurturing young minds, particularly in tier 2 and tier 3 cities. These labs provide the necessary resources and mentorship to help youth incubate their ideas and transform them into viable business models.
The Prime Minister’s comments at the ‘Startup Mahakumbh’ serve as a testament to the success of these initiatives and the growing vibrancy of India’s startup ecosystem.
