National Startup Advisory Council

WHY IN NEWS?

The Government has set up a National Startup Advisory Council to advise the Centre on measures needed to build a strong ecosystem for nurturing innovation and start-ups in the country.

ABOUT NATIONAL STARTUP ADVISORY COUNCIL

• The Council will be chaired by Minster for Commerce & Industry.
• It will consist of the non-official members, to be nominated by Central Government, from various categories like founders of successful startups, veterans and persons capable of representing interests of incubators and accelerators etc.
• The term of the non-official members of the Startup Advisory Council will be for a period of two years.
• The nominees of the concerned Ministries/Departments/Organisations, not below the rank of Joint Secretary to the Government of India, will be ex-officio members of the Council.
• Joint Secretary, Department for Promotion of Industry and Internal Trade will be the Convener of the Council.

Functions

• The Council will suggest measures to foster a culture of innovation amongst citizens and students, in particular, promote innovation in all sectors of the economy across the country.
• It will also suggest measures to facilitate public organisations to assimilate innovation with a view to improving public service delivery, promote creation, protection and commercialization of intellectual property rights.
• Further, it will suggest measures to make it easier to start, operate, grow and exit businesses by reducing regulatory compliances and costs, promote ease of access to capital for startups.

Prelims Question

Q. Consider the following statements regarding National Startup Advisory Council:
1.It was founded alongside the Ministry of Skill Development and Entrepreneurship in the year 2014.
2.The Council will be chaired by Minster for Skill Development and Entrepreneurship
Which of the statements given above is/are correct?
a)1 only
b)2 only
c)Both 1 and 2
d)Neither 1 nor 2

Answer to the Prelims Question