SWAYATT and GeM Start-up Runway

  • Category
    Polity & Governance
  • Published
    21st Feb, 2019

Union Minister of Commerce & Industry and Civil Aviation, Suresh Prabhu, launched SWAYATT and also dedicated GeM Start-up Runway-an initiative of Government e Marketplace (GeM).

Context

Union Minister of Commerce & Industry and Civil Aviation, Suresh Prabhu, launched SWAYATT and also dedicated GeM Start-up Runway-an initiative of Government e Marketplace (GeM).

About

SWAYATT

  • It is an initiative to promote Start-ups, Women and Youth Advantage Through e-Transactions on Government e Marketplace (GeM).
  • It will bring together the key stakeholders within the Indian entrepreneurial ecosystem to Government e-Marketplace the national procurement portal.

GeM Start-up Runway

  • It is an initiative of GeM in association with Start -up India is to facilitate Start-ups registered under it to access the public procurement market and sell innovative products and services to government buyers.
  • GeM, an online market place for procurement of common use goods and services by government ministries, departments and CPSEs was setup in 2016.

GeM Start-up Runway seeks:

  1. To align certified Start-ups with Government procurement orders and contracts, to enable Start-ups in scaling operations from ideation to growth stage in minimal time, and spur hyper-local job-creation and wealth-generation and for achieving socially-inclusive economic growth.
  2. Enable Start-ups to conduct market trials with government buyers, seek time-bound feedback and gain realistic product, price comparison and market valuation from potential buyers and investors.
  3. To support technology development, spur research and innovation by ensuring a conducive policy environment for industrial diversification and value addition to commodities, and aligns with Government’s philosophy to turn Job-seekers into job-creators.
  4. Address goals and objectives under United Nations Sustainable Development Goal 9: Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation.

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