The Ministry of Electronics and Information Technology (MeitY) has establishment "MeitY Start-up Hub" (MSH) under the Technology Incubation and Development of Entrepreneurs (TIDE) 2.0 Scheme in order to facilitate MeitY's vision of promoting technology innovation, start-ups and creation of Intellectual Properties.
India is home to one of the most vibrant start-up ecosystems with close to 8000 tech start-ups, making it the 2nd largest start-up ecosystem in the world. Hence, innovation and entrepreneurship is the emerging focus area that is being aggressively promoted to give a fillip to the Indian economy. The Ministry of Electronics & Information Technology (MeitY), Government of India is leading and facilitating a gamut of innovation and IPR related activities across the country towards the expansion of this ecosystem. To facilitate MeitY's vision of promoting technology innovation, start-ups and creation of Intellectual Properties, a nodal entity called MeitY Start-up Hub (MSH) has been set up under its aegis. MSH will act as the national coordination, facilitation and monitoring centre that will integrate all the incubation centres, start-ups and innovation-related activities of MeitY.
Recognizing the importance of technology incubation, MeitY has facilitated setting up of technology incubation centres with strong Industry–Academia–Government linkages and providing necessary facilities to budding entrepreneurs at different institutions of higher learning and R&D institutions across India. The initiatives include policy measures, infrastructural support, entrepreneurial training, IPR facilitation and creation of an overall framework conducive for technology incubation.
These Incubation Centers are providing a host of services to start-ups and facilitating necessary linkages congenial for their survival and growth. The centres also network with Angel Investors and Venture Capitalists to provide mentoring and financial support, eventually helping them to mature over the stipulated period and graduate successfully. In most of the cases, the involvement of the faculty of the institute in the technology start-up activity reinforces teaching and research, strengthens linkages between education and industry and also better aligns education to meet market requirements. Establishment of these Technology Incubation Centres would enable indigenous development of ICT solutions in the long run.
The Testing and Research lab is a unique offering from MSH where start-ups can test their prototypes and products and validate it. This lab also helps support the early developmental phase of technological initiatives and transform ideas into reality.
Instituting “Grand Challenges” is a part of the broader initiative of MSH to drive new tech-driven business models and rapidly scale up prototyping of technologies. It’s a “win win” scenario with MSH able to scan new and disruptive innovation ideas coming out from start-ups and accurately profile emerging technology landscapes while start-ups receiving funding and recognition.
Benefits of Challenges
Source: MeitY Start-up Hub (MSH)