Maharashtra govt plans to make Mumbai India's startup capital

In sync with Prime Minister Narendra Modi's Startup India initiative, Chief Minister Devendra Fadnavis has assured small business men and venture investors that he will take necessary steps to make Mumbai and Maharashtra the capital for startups.

"You have given me a mission. In the coming days, we will make Maharashtra and Mumbai, capital of startups," Fadnavis said in Mumbai while inaugurating a seed investment and innovation platform. He said the blueprint of Startup India, Standup India Initiative, being unveiled today, would be government's new year gift to the entrepreneurship landscape in the country.

"It is said that nothing is more powerful than an idea whose time has come. But what if a powerful idea is not supported by a powerful ecosystem? The idea goes elsewhere. That's what we have been experiencing," he said. "I think aspiring Indian youth is so powerful, and they just need a little bit of handholding to transform their ideas into reality. The blueprint of PM Modi's Startup India, Standup India would be the government's new year gift to the entrepreneurship landscape," he said.

The chief minister observed that world over Indians have contributed to building very successful startups, but they had to go to Silicon Valley or Singapore because India lacked the infrastructure and ecosystem. "We need to create ecosystems at more places, and the Prime Minister understands we are a youthful country. Compared to China, Silicon Valley or Singapore, we account for only 10 per cent of startups, but we are one of the most youthful startup nation," he said.

Referring to the immense energy and potential of entrepreneurs, he said that as a fast developing nation, we have a great demand for innovation."This is an immense energy we have, which needs a channel. We have a nation of more than a billion people embracing technology. If we develop an ecosystem to shape this power the journey towards being a developed nation will be accelerated more," he said. Fadnavis also said there is tremendous opportunity for startups during developing Smart Cities in the country.