India launches BHASKAR, a new digital hub for startups

Union trade and commerce minister Piyush Goyal launched Bharat Startup Knowledge Access Registry (BHASKAR), a centralized digital platform that will help startups connect, collaborate and compete with each other.

The initiative brings various stakeholders in the startup ecosystem, including investors, mentors, service providers, and government bodies, on one platform to connect, exchange ideas and grow.

The platform “will bring hope, aspirations, success to kick-start ambitious (startup) revolution,” Goyal said at its launch in New Delhi.

“We are going to make a serious effort so that the Indian startup ecosystem becomes more visible, more democratic and socialized across India and later across the world as Bhaskar would be available for the world to see. It will help us create the brand that startup India should be now and the world to recognize the inquisitiveness of Indian minds,” he said.

About 459,900 users were registered on the platform at last count.

The platform is expected to focus on streamlining collaboration to address existing challenges in the ecosystem and promote entrepreneurship and job creation.

“BHASKAR is not only a registry but will also bring everyone together. It will be a LinkedIn, X, Facebook. It will be like a social media platform for startups,” Department for Promotion of Industry and Internal Trade (DPIIT) secretary Amardeep Singh Bhatia said at the event.

The registry aligns with the government’s vision to transform India into a global leader in innovation and entrepreneurship, reinforcing the country’s commitment to the startup movement, an official statement said.

India is currently the third largest startup ecosystem after the US and China. Analytics firm GlobalData said venture capital funding in January-July rose 42% year-on-year with $6.3 billion raised across 672 deals.

“We are the third largest startup ecosystem but our aspirations don’t end there. We should be aspiring to go beyond and have our own Silicon Vallies beyond Bengaluru,” Goyal said, while suggesting setting up an up to 500 acre township or society for entrepreneurs, startups, and innovators on the lines of Silicon Valley in the US.

The government already runs multiple portals for startups, from Startup India Investor Connect Portal for raising funds; National Mentorship Portal (MAARG) for mentoring; Startup India Hub for stakeholders to connect; Startup India Showcase that exhibits startups handpicked through DPIIT and Startup India programs.