Piyush Goyal launches Bharat Startup Grand Challenge to boost innovation

Commerce and Industry Minister Piyush Goyal launched the Bharat Startup Grand Challenge at an event celebrating nine years of Startup India mission.

Goyal underscored the challenge’s significance in accelerating the growth of startups, especially from Tier II and Tier III cities, by offering funding, mentorship, and procurement opportunities.

Startup India initiative is aimed at fostering innovation and collaboration between corporates and startups by providing procurement opportunities, funding access, mentorship, and capacity-building resources across diverse sectors like renewable energy, blockchain, robotics, and manufacturing.

By the 2026 anniversary of the Startup India programme, the government plans to introduce 75 sector-specific challenges to foster innovation and accelerate growth across industries.

The event also served as a platform to announce the upcoming Bharat Startup Mahakumbh, set to be the largest startup gathering globally, with over 2,500 startups convening in Prayagraj this April. Goyal described it as “a confluence of talent, ideas, and opportunities” that will showcase India’s capabilities to the world.

Startup Mahakumbh was first envisioned as a large-scale event that truly reflects the breadth and diversity of India’s startup landscape. The 2024 edition featured sector-specific pavilions, highlighting deeptech, agritech, fintech, healthtech, space tech, and manufacturing. The upcoming edition is expected to be even bigger, with over 2,500 startups, international investors, and delegations from 50+ countries.

Speaking at the launch event, Goyal described the challenge as a transformative platform designed to connect startups with industry leaders and mentors. “I look upon all of you as agents of change. You are the people who are going to define the India growth story,” Goyal said, addressing an audience of entrepreneurs, investors, and policymakers.

"India's startups are not just competing; they’re leading," Goyal asserted, citing the country’s growing unicorn count, now over 115, and the catalytic role of initiatives such as the SIDBI-administered Fund of Funds. He highlighted that women are central to this growth, with 43% of India’s STEM graduates being female and nearly half of startups having a woman co-founder.