Rajeev Chandrasekhar: Next Wave of Startups to Come From Smaller Towns

| Updated: May 21, 2022 5:17 pm

Union Minister of State for Skill Development, Entrepreneurship, Electronics, and Information Technology Rajeev Chandrasekhar stated that the next wave of startups will come from Tier 2 and Tier 3 cities.

Important to note here is that he is on a three-day visit to Gujarat. In reference to India’s 100 unicorns, the Union Minister stated that India has produced the greatest number of unicorns, innovations, investments, and companies in the last three years.

In addition, Chandrasekhar stated that India has created over one lakh startups in the same time period.

He said that the central government is committed to provide MSMEs with all the perks they need in their quest for digitalisation. He said that Ministry of Electronics & IT will soon announce soon going to launch “Digital India Startup Hub” programme and create a “Digital India Investment Fund” which will fund startups enabling next wave from tier 2 and tier 3 cities:

In terms of the geographical locations of startups and unicorns, Chandrasekhar stated that the government is focusing on startups formed in Tier 2 and Tier 3 cities.

He also mentioned that the majority of startups are currently based in Bengaluru, Hyderabad, Gurugram, Pune, Mumbai, and Chennai. Rajeev Chandrasekhar also stated that 95 percent of the 100 unicorns are based in the aforementioned cities. “As a result, the government’s sole focus is to ensure that the next wave of 2-3 lakh startups comes from smaller towns.”

“The government will focus on smaller towns,” he added.

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