Commerce Minister Piyush Goyal has recently proposed to develop dedicated townships under the Russian startup model. According to the Union Minister, this Russian model can significantly boost the startup ecosystem in the country. It can provide the necessary infrastructure and resources for startups. Dedicated townships in Russia have proved to be very helpful in the growth of startups. India has also taken the initiative to adopt this model. Let us know what the Russian startup model is.
Startup Township
In Russia, the government develops dedicated townships. These include the Skolkovo innovation center near Moscow, Innopolis near Kazan (in Tatarstan), Zhigulevsk Valley Technopark in the Samara region and Akademgorodok near Novosibirsk in Siberia, Livemint reported. In Russia, startups have to register with the government. After registration, they are allotted space within these townships. This space is offered for rent or purchase. This idea reduces the challenge of getting affordable workspace. This model has allowed Russian startups to flourish. There are more than 21,500 such startups in Russia.
What is the planning in India?
India is planning townships of up to 500 acres to bring together entrepreneurs, innovators and investors. The advantage of this will be that they can access important resources, consultants 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 industrial smart cities in 10 states.
Where will the townships be located
Startup townships are likely to be set up near existing hubs such as Bengaluru, Delhi and Mumbai. These are major hubs of tech and entrepreneurial activity. The government hopes to promote collaboration between experienced entrepreneurs and emerging startups. Consultations are underway between the Department for Promotion of Industry and Internal Trade (DPIIT) and stakeholders such as technical institutes (IIT Madras and Bombay) and industry bodies.
Success of Startup India program
According to the news, the government claims that the Startup India program launched in 2016 has contributed to the success of more than 146,000 startups. The center operates several digital platforms. Some of these are the Startup India Investor Connect Portal, National Mentorship Portal MAARG (Mentorship, Advisory, Assistance, Resilience, Growth), Startup India Showcase and Startup India Seed Fund. India is the third largest startup ecosystem in the world after the US and China in terms of the number of startups.
