The Indian government has decided to extend a helping hand to startups seeking to attract foreign funds.

According to a recent statement made by Ramesh Abhishek, Secretary of Department of Industrial Policy and Promotion (DIPP), in a bid to attract global investors in Indian startups, the Indian government is gearing up to launch a website where such startups can register themselves highlighting what makes them stand out from the rest.

Currently, India has the third largest startup base in the world, just after the US and China. The Indian government wants to better this position by attracting international exposure to the ecosystem and highlighting the various unique concepts that the Indian startups are working on.

Startups seeking foreign funds will be able to register themselves on the new website from March 15 to March 31. The aim behind the website is to not only score global investors and mentors for Indian startups, but also provide international marketing access to homegrown companies.

"The DIPP will start a new website where startups can register themselves from March 15 to March 31. The government will make sufficient advertisement for registration, which is aimed at attracting global investors and mentors, as well as providing international marketing access to local companies,” said Abhishek in a statement given to a national daily on the sidelines of a recently organised workshop on Intelligent Transport System (ITS) organised by the International Road Federation (IRF) in New Delhi.

The virtual hub is expected to become fully functional from next month onwards. The hub will have details of startups, investors, mentors, and venture capitalists put in one place.

Though some Indian startups have been successful in getting foreign funds on their own in the past, but their numbers remain very less when compared to the whole ecosystem. Through this initiative, the government wants more and more such investments to find their way to Indian companies so that they can have a long-term sustainable journey.

Currently, the country with the second largest population in the world has around 20,000 operational startups. Out of this, 4,500 are technology or IT-based ventures.

The government wants to encourage more and more startups, students and entrepreneurs to work towards coming up with innovative solutions to the challenges being currently faced by the country, especially in the field of education, agriculture, health, infrastructure, manufacturing and transport sector.

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