National Startup Advisory Council – Ministry of Commerce 27/01/2020 – Posted in: Daily News – Tags:

National Startup Advisory Council

 

For: Preliminary & Mains

Topics covered: About the National Startup Advisory Council

 

News Flash

The ministry of commerce has announced the establishment of the National Startup Advisory Council to provide representations to the Indian startup ecosystem during policy-making processes.

 

National Startup Advisory Council

Role of NSAC

  • The Council will suggest measures to foster a culture of innovation among students and others.
  • The Advisory Council will advise the Centre on measures needed to build a strong ecosystem for nurturing innovation and start-ups in the country.
  • The council will also suggest measures to facilitate public organisations to assimilate innovation, promote creation, protection, and commercialisation of intellectual property rights, make it easier to start, operate, grow and exit businesses by reducing regulatory compliances and costs.
  • The Council will suggest ways to promote ease of access to capital for start-ups, incentivise domestic capital for investments, mobilise global capital for investments, and keep control of start-ups with original promoters.

 

Members of the Council

  • The Council, which will be chaired by the commerce minister, will consist of non-official members to be nominated by the Centre, founders of successful start-ups.
  • The term of the non-official members will be for a period of two years.
  • The nominees of the ministries, departments and organisations concerned not below the rank of joint secretary will be ex-officio members.

 

Source: Livemint

 

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