India Revamps National Startup Advisory Council with Industry Heavyweights: BYJU'S, Ola, Sequoia Capital Join Forces
News Synopsis
The National Startup Advisory Council, a governmental body aimed at garnering insights from prominent figures within the startup ecosystem, has announced the appointment of 28 non-official members to this committee.
The Composition of the Council
According to an official government statement, this council boasts a diverse array of members, encompassing founders of renowned startups such as BYJU'S, Ola, Zoho, and Snapdeal. Additionally, representatives from prominent venture capital entities like Aarin Capital, Accel, Sequoia Capital India, Kalaari Capital, and Softbank India have been included.
Term and Objectives
The non-official members are set to serve a two-year term and will play a pivotal role in advising the government on initiatives crucial for fostering a robust startup ecosystem, nurturing innovation, and facilitating the growth of startups across various sectors in the country.
The Council's Responsibilities
The Department for Promotion of Industry and Internal Trade (DPIIT) had established the National Startup Advisory Council back in January 2020. The council shoulders several key responsibilities, which include:
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Promoting Innovation: A focus on innovation across all economic sectors, extending its reach to semi-urban and rural areas.
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Supporting Creative Ideas: Backing inventive concepts that hold the potential to evolve into impactful products.
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Simplifying Operations: Streamlining regulatory compliance and reducing operational costs to facilitate smoother operations for startups.
Notable Members of the National Startup Advisory Council
Diving into the roster of influential personalities within the council, notable startup founders include:
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Lizzie Chapman from ZestMoney
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Abhiraj Singh of Urban Company
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Kunal Bahl from Snapdeal
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Deepak Garg of Rivigo
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Krishna Kumar from Cropln
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Sanjeev Bhikchandani of Info Edge India
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Sridhar Vembu from Zoho Corp.
Representing the venture capital industry, council members include:
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Kris Gopalakrishnan from Axilor Ventures
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Mohandas Pai representing Aarin Capital Partners
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Gopal Srinivasan of TVS Capital Funds
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Ramesh Byrapaneni from Endiya Partners
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Prashant Prakash of Accel
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Manoj Kohli representing Softbank India
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Rajan Anandan from Sequoia Capital India
Additional Nominees of National Startup Advisory Council
The council also includes esteemed individuals nominated by the government, encompassing various sectors:
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Amitabha Bandyopadhyay from IIT Kanpur
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Kunal Upadhayaya representing IIM Ahmedabad
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Renuka Ramnath from the Indian Private Equity and Venture Capital Association
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Venkatesh Shukla representing The IndUS Entrepreneurs (TiE)
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Sharad Sharma from iSpirit
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Uday Kotak from CII
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Uday Shankar representing FICCI
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Subba Rao Pavuluri from Anath Technologies
What does this mean for India's startup ecosystem?
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A Boost for Innovation: The combined wisdom and experience of these diverse leaders promises to fuel India's entrepreneurial spirit and drive innovative solutions across sectors.
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Stronger Policy Framework: The NSAC's recommendations will shape government policies on regulatory simplification, funding access, and talent development, paving the way for a more nurturing environment for startups.
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National Startup Advisory Council With renowned names like Rajan Anandan (Sequoia Capital India) and Manoj Kohli (Softbank India) on board, the NSAC can attract global attention and investment to India's burgeoning startup scene.
A Cohesive Force Driving Startup Innovation
With a comprehensive blend of expertise spanning startups, venture capital, and industry associations, the National Startup Advisory Council is poised to usher in a new era of innovation and support for budding entrepreneurs across India's diverse business landscape.
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