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MAARG Platform

Published: 20th Jan, 2023

Context

Commerce and industry minister Piyush Goyal will launch the MAARG platform (Mentorship, Advisory, Assistance, Resilience, and Growth), which would facilitate mentorship between startups and entrepreneurs across sectors, stages, and functions.

About

About MAARG:

  • MAARG (Mentorship, Advisory, Assistance, Resilience, and Growth), the National Mentorship Platform is a one stop platform to facilitate mentorship for Start-Ups across diverse sectors, functions, stages, geographies, and domains. 

National Startup Day:

  • The Prime Minister has announced 16th January, the founding day of Startup India, as the National Startup Day. 
  • Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry is organizing Startup India Innovation Week from 10th January 2023 to 16th January 2023 to celebrate the Indian Startup Ecosystem. 
  • In this context, various Start-Up related workshops, capacity building sessions and events are being hosted by Start-Up India with each session dedicated to a particular theme pertaining to the entrepreneurial ecosystem in India.

Startup in India:

  • India has overtaken the US and China as the third-largest environment in the world for startups, according to the Economic Survey 2021–22. 
  • In India, there are more than 80,000 startups, and more than hundreds of them have become unicorns
  • Currently, there are over 88,000 startups recognised by the DPIIT.
  • The government recently announced a USD 200 million investment in startups that design code, tools, or devices.

Benefits of Startups for the Economy:

  • Opportunity:Start-ups are providing an opportunity to the entrepreneurial youth of India an opportunity to express their idea and grow their finances exponentially.
  • Wealth creation has therefore become synonymous with start-ups.
  • Employment:The establishment of a start-up brings with it growth in employment opportunities.
  • Catering to the needy section: The creation of products or services can cater to the needs of a section of the Indian population and make them economically more potent. For example, the availability of online e-commerce platforms to traditional artisans who can now more easily reach their customers.

Current Issues/Challenges:

  • Short-term solution:Statistically, a large number of start-ups do not make it big and are shut down.
  • Economic issues:Closure of start-ups leads to
    • loss of the capital invested in them
    • loss of employment
    • sets a demotivating example for those willing to take chance by establishing a business entity
  • Disparities: Disparities in salary and working conditions are also known to exist in the start-up ecosystem to a large extent.
  • Unregulated: The start-up sector being less regulated has also led to no minimum labour laws being applied to it.
  • Exploitation: Most labourers working for start-ups are not entitled to worker’s welfare legislation and therefore face exploitation.
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