What is Piyush Goyal’s Russian Startup Model? – India TV

Union Commerce Minister Piyush Goyal recently proposed to implement the Russian startup model in India to boost the growth of Indian startups and unicorns. According to the Union Minister, this Russian model can significantly strengthen the startup ecosystem in the country. It can provide the necessary infrastructure and resources for startups. Dedicated startup townships in Russia have proven to be very helpful in the growth of startups. India has also taken the initiative to adopt this model. Let us know what is the Russian startup model.

Russian Startup Model

According to Mint, the government is developing dedicated townships in Russia. Examples of such townships include the Skolkovo Innovation Center near Moscow, the Zhigulevsk Valley Technopark in Samara Oblast, Innopolis near Kazan (Tatarstan), and Akademgorodok near Novosibirsk in Siberia. In Russia, startups are allocated space in the townships after they register with the government. This space can be rented or purchased by startups. The presence of ideal space in an industrial and startup area, as well as at low rates, reduces the burden on small businesses. This model has given Russian startups a chance to flourish. There are over 21,500 such startups in Russia.

What are the plans for India?

India is also planning townships of up to 500 acres to bring together all stakeholders entrepreneurs, innovators and investors. The integrated township will provide easy and helpful access to important resources, advisors and facilities under one roof. The townships will be built by the National Industrial Corridor Development Corporation (NICDC). The government has also approved the development of 12 smart industrial cities in 10 states.

Possible locations from startup towns

The central government is likely to set up startup towns near existing hubs like Bengaluru, Delhi and Mumbai, as these are major and established hubs for tech and entrepreneurial activity. The government also hopes to promote collaboration between seasoned entrepreneurs and emerging startups. Consultations are underway among stakeholders like the Department for Promotion of Industry and Internal Trade (DPIIT), technical institutes (IIT Madras and Bombay) and industry bodies.

Startup India Program

According to reports, the government claims that the Startup India programme launched in 2016 has helped over 1,46,000 startups succeed. The centre operates several digital platforms, some of which are the Startup India Investor Connect Portal, the National Mentorship Portal MAARG (Mentorship, Advisory, Assistance, Resilience, Growth), Startup India Showcase and the Startup India Seed Fund. Startups in India are crucial as the country is the third largest startup ecosystem in the world after the US and China in terms of the number of startups.