Public procurements may come with startup quotas
Live MintTop central ministries are discussing a proposal that may mandate public sector units to purchase 10% of their requirements from startups, two people aware of the development said. Some of India's ongoing efforts to encourage startups sector include the Startup India seed fund initiative and Atal Innovation Mission. This initiative not only provides a platform for startups to showcase innovative solutions but also accelerates the development of cutting-edge technologies that can enhance India's global competitiveness," Garg said. Meanwhile, India's startups created around one million jobs till 2023, the Economic Survey 2023 showed. And read | Lightspeed set to lead clean-tech startup SolarSquare’s $30 millon funding round India is home to the world's third-largest flock of unicorns--startups valued at one billion dollars and above--behind the US and China.