The country’s new economic prospects and wealth are being produced by young entrepreneurs, according to Rajeev Chandrasekhar, the union minister of state for electronics, information technology, skill development, and entrepreneurship. This is why the start-up is important.
Chandrashekhar stated, “Today India has generated a generation of confident entrepreneurs,” during the session on Uttar Pradesh: Gearing for Startup Revolution, the Next Big Opportunity. Of the almost 80,000 start-ups now operating, 109 have achieved unicorn status. New India is represented by the democratisation of opportunity and capital.
Young people’s empowerment and a fundamentally transformative economic shift in the nation are both goals of start-ups. The start-up is significant because it is helping to define the new India. Prior until now, young people who had graduated from college looked for positions with the government or with a select few private enterprises. He claimed that through establishing start-ups, they are currently living out their entrepreneurial dreams.
Artificial intelligence and the data economy are two more new areas for start-ups in the nation. According to him, artificial intelligence will be the driving force behind our digital economy.
The design of semiconductors and microelectronics will provide new business opportunities for startups. Funds for new endeavours have been authorised by the federal government, and we will collaborate with states to make investments. According to him, the states would also start microelectronics and semiconductor design start-ups.
The nation saw the emergence of space startups in May 2022. According to him, 138 businesses have been established to provide goods, services, and technology for the space economy.
Entrepreneurs can collaborate with the Uttar Pradesh government if they are interested in investing in start-ups. According to him, the central government will act as enabling partners in helping business owners launch new ventures in Uttar Pradesh.
