Startup Ecosystem
From having a handful of tech companies to dozens and now thousands of innovative new ventures, India's startup ecosystem grew immensely in the past decade touching 55K startups at the end of 2020. To enable Punjab to capitalize on this opportunity, 'Punjab Innovation Mission' was conceptualized as one of the key recommendations of the Group of Experts (GoE) under the chairmanship of Former Deputy Chairperson, Planning Commission, Montek Singh Ahluwalia. Asha Impact's co-founder, Pramod Bhasin has been nominated as the Mission's first Chairman. The two pillars of the Punjab Innovation Mission will be Pollinator (diaspora outreach, challenges/hackathons, incubator training) and Accelerator (mentorship and acceleration of start-ups through curated mentorship, market access, and investor connect). The 150 Cr sector-agnostic fund will support early-growth stage entrepreneurs in the state and would be steered by marquee investors with global repute. The Punjab Innovation Mission would go a long way in developing a vibrant ecosystem for entrepreneurship by leveraging capital, policy, and technology through collaboration with investors, industry, government, academia, and start-ups and by facilitating collaboration among the various incubators.
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