Shri Ravi Shankar Prasad, Minister for Electronics & Information Technology (MeitY), inaugurated the MeitY Start-up Hub (MSH) at the MeitY Start-up Summit of 2019, on Monday.
The MSH will promote technology innovation, start-ups, and the creation of intellectual properties. Former entrepreneur Deepak Agarwal will put together a team to run the MSH, which is supposed to work like a social media platform for all stakeholders and patrons of the ecosystem, including incubators, accelerators, mentors, angel funds & venture capitalists.
As a nodal agency, Software Technology Parks of India (STPI), an organization under MeitY, is entrusted with the implementation of MSH.
“Investors can also look at the platform to get access to start-ups that are doing path-breaking work in an upcoming area and look at funding them, but this part will come later,” a MeitY official said.
STPI has signed four Memorandum of Understandings (MoUs), declaring a partnership with Intel India, IIM Calcutta Innovation Park, Pontaq & IBM in the field of ICT and emerging technologies.
Prime Minister Narendra Modi has said that the Indian start-up ecosystem will help India achieve the $5 trillion target for the economy, set by the central government.