Swayatt and GeM Startup Runway to bring MSMEs closer to govt buyers
Suresh Prabhu, Union Minister of Commerce and Industry and Civil Aviation, launched Swayatt, an initiative to promote MSMEs, women and young entrepreneurs through e-transactions on the Government e-Marketplace (GeM), a government statement said. The aim is to bring the key stakeholders in the Indian entrepreneurial ecosystem into GeM, which is the national procurement portal.
As part of this effort, the minister also announced GeM Startup Runway, which is an initiative of GeM, in association with Startup India, to facilitate MSMEs to access the public procurement market, and sell innovative products and services to government buyers. Prabhu also felicitated a few successful entrepreneurs from women Self Help Groups (SHGs), startups and MSMEs on the GeM platform.
CR Chaudhary, Minister of State for Commerce and Industry, expressed hope that the national launch of Swayatt would further promote inclusiveness by boosting the prospects of various categories of sellers and service providers. He also said it would take proactive steps to facilitate the training and registration of specific categories of manufacturers and sellers, develop women entrepreneurship, and encourage participation of MSMEs in public procurement.
According to the statement, GeM Startup Runway seeks to align certified startups and MSMEs with government procurement orders and contracts, and enable small businesses in scaling operations from ideation to growth stage in minimal time. It also seeks to spur hyperlocal job creation and wealth generation, and achieve socially-inclusive economic growth.
The initiative will also enable MSMEs to conduct market trials with government buyers, seek time-bound feedback, and gain realistic product-price comparisons and market valuation from potential buyers and investors.
GeM currently has 801,956 products and 5,197 services, with 199,654 registered sellers, service providers and 33,536 government buyers. Since its launch in 2016, GeM has processed 1,386,030 orders worth Rs 19,214 crore in gross merchandise value, the statement read.
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