Shri Piyush Goyal addresses Global Bio-India Startup Conclave, 2021;

Innovation has to be affordable for the people, accessible to the masses, and should have an impact on society: Shri Goyal;

Says our startups, young professionals, innovators, thinkers and scientists will be at the cutting edge of technology worldwide

Minister of Railways, Commerce & Industry, Consumer Affairs and Food & Public Distribution Shri Piyush Goyal today addressed Global Bio-India Startup Conclave, 2021, organized by the Department of Biotechnology (DBT), GOI. He said that our startups, young professionals, innovators, thinkers and scientists will be at the cutting edge of technology worldwide, & at the forefront of India's development to ensure a better future for our children.

Shri Goyal said that contemporary thinking coupled with the good work that India saw during the COVID period, will help nurture the spirit of inquisitiveness which is there in our children, but needs to be harnessed. He said that innovation has to be affordable for the people, accessible to the masses, and should have an impact on society. He expressed the hope to see more growth & progress, newer technologies which will serve India & ensure we convert future challenges into opportunities.

Shri Goyal complimented all the young startups for their ingenuity, their forward-looking thinking and all the good ideas demonstrated by them. He said that our Startups need to be encouraged to experiment, to go beyond the run of the mill thinking. Stressing on the need to ensure they are not afraid of failure, he said that it is only when somebody fails, he knows how not to do something, and the learning helps in the future. He said that the need of the hour is to engage more & more with rural India also. There is a lot of talent lying there, and this will help us bring together the best of what India has to offer, he added. The Minister said that you cannot have great innovation & invention coming up through just Government initiative, and we need to have all sections of business involved. He emphasized that synergy between the government and the private sector is essential and the government has to be an enabler and provide support to the ecosystem.

Lauding the efforts of DBT, the minister said that they have demonstrated India’s capability and prowess in research, innovation and new technologies.He said that forward looking, contemporary thinking and Professional approach of the department has ensured that there are over four thousand startups in the country in the field of Biotechnology.

During the event, Project development cell of DBT was launched, which will help significant targeted support.  5 new technologies were also launched. On these technologies, the Minister said that these are reflective of India’s Atmanirbhar bharat campaign which would help in excelling in modern technology, and help Indians access to better life and also healthcare facilities.

Shri Goyal assured complete support from the Ministry of Commerce and Industry to the startups, including support to the startups to get access to the funds, opportunities and exposure to the world.

Biotech startup support promotes affordable, accessible innovation and government-private synergy to boost commercialization and funding. Government prioritizes strengthening the biotechnology startup ecosystem by promoting affordable, mass-accessible innovation and fostering government-private synergy. The Department of Biotechnology launched a Project Development Cell and unveiled five technologies to further self-reliance and improve healthcare access, while ministerial support is committed to help startups secure funding, market exposure, and commercialization opportunities.