28 non-official members nominated to the National Startup Advisory Council
Part of: GS Prelims and GS-III – Start-ups; Entrepreneurship; Innovation
- The Government of India nominated 28 non-official members on the National Startup Advisory Council, including Byju’s CEO Byju Raveendran, Ola Cabs co-founder Bhavish Aggarwal, Kalaari Capital Managing Director Vani Kola and SoftBank India country head Manoj Kohli.
- The Department for Promotion of Industry and Internal Trade (DPIIT) had constituted the council on January 21, 2020, to advise the government on measures required to build a “strong ecosystem for nurturing innovation and startups in the country.
- The term of the non-official members of this council shall be for two years or until further orders, whichever is earlier.
Important value additions
Composition of the Council
- Chairman: Minister for Commerce & Industry.
- Convener of the Council: Joint Secretary, Department for Promotion of Industry and Internal Trade.
- Ex-officio Members: Nominees of the concerned Ministries/Departments/Organisations not below the rank of Joint Secretary.
- Non-official members, to be nominated by the Central Government.
- These members shall be nominated from various categories like founders of successful startups, veterans who have grown and scaled companies in India, persons capable of representing the interests of investors into startups, etc.
- The term of the non-official members will be for a period of two years.
- 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.