BHASKAR Startup Ecosystem: Check Vision and Key Objectives

Bharkar Startup Ecosystem UPSC: Union Minister of Commerce & Industry Shri Piyush Goyal launched the Bharat Startup Knowledge Access Registry (BHASKAR) Portal, which is designed as a one stop solution platform for empowering and connecting stakeholders across India in a rapidly evolving ecosystem. 

It is launched under the Startup India program and allows entrepreneurs, investors, mentors, policymakers, and service providers to connect and share knowledge. BHASKAR will serve as a catalyst for development, innovation, and success, propelling India's startup culture to new global heights.

Aspirants preparing for the UPSC examination must learn about the BHASKAR as important to score well in the current affairs section of prelims and mains examination

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What is BHASKAR?

Bhaskar, a short form of Bharat Startup Knowledge Access Registry, is more than just a digital platform. It is an initiative to unite India’s diverse startup ecosystem. BHASKAR aims to become the world's biggest digital registration for startups by facilitating dynamic cooperation and creating a centre for all startup-related activity in India.

Union Minister of Commerce and Industry Shri Piyush Goyal informed that the platform's name, "BHASKAR," which means "Rising Sun" in Hindi. He said as the sun represents light, development, and enlightenment, BHASKAR seeks to illuminate the road for India's aspiring entrepreneurs and assist them in attaining their goals. In addition, the platform will encourage cooperation, collaboration, and healthy competition among ecosystem stakeholders and entrepreneurs.

The Vision of BHASKAR

BHASKAR is aiming to revolutionise the way startups and entrepreneurs connect with each other. It will offer a BHASKAR ID to each participant, ensuring that interactions are personalised and efficient. The aim of BHASKAR is to create a platform where entrepreneurship and collaboration can thrive, putting India at the forefront of the global startup ecosystem. 

The vision of BHASKAR is very clear, as it will serve as a one stop digital platform to bring all startups under one roof. This platform will increase awareness, provide access to resources, and promote collaboration between entrepreneurs from various sectors, regions, and industries.

The Launch Event and Keynote Address

Shri Goyal highlighted that the growth story of India has been supported by its startup environment. In August 2024, India's startup ecosystem ranked among the world's largest and most dynamic, with over 1.4 lakh companies registered by the DPIIT (Department for Promotion of Industry and Internal Trade). By opening up access to resources and opportunities for entrepreneurs of all sizes, especially those in Tier-2 and Tier-3 cities, BHASKAR will increase this success and add step further.

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According to Shri Goyal, the government is dedicated to establishing an autonomous, globally competitive startup environment that focusses on integrity, conviction, and quality. He also highlighted how BHASKAR would help business owners see setbacks as opportunities for growth and development, which would promote an innovative and robust culture.

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Key Objectives and Value Propositions of BHASKAR

The BHASKAR platform aims to solve the problems that the Indian startup ecosystem is currently facing, including dispersed resources and a lack of interaction between stakeholders. The program offers a number of essential value propositions aimed at strengthening entrepreneurs' positions and accelerating the ecosystem's growth:

Industry Alliances: BHASKAR will bring together individuals from different industries, places, and technologies, giving up fresh possibilities for cross-sector collaboration. This will promote the creation of fresh ideas and partnerships across industries.

Dynamic Networking: Peer-to-peer connect features and individual dashboards on the platform will make connectivity simpler than ever. Through the platform's user-friendly design, entrepreneurs can quickly interact with like-minded individuals and explore new business opportunities.

Personalised Identification Number (BHASKAR ID): Each member in the ecosystem will be assigned a unique BHASKAR ID that will act as their digital identity. This ID will be linked to a personalised dashboard, providing individuals with access to resources that other platform members may find.

Resource Accessibility: BHASKAR will serve as a knowledge repository, connecting businesses with critical resources such as guidance, funding opportunities, and industry insights.

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