Union Minister of Commerce & Industry Suresh Prabhu has launched ‘Start-up Runway’, an initiative of government’s online procurement portal, Government e-Marketplace (GeM), which will allow startups registered with Start-up India to access GeM platform and sell innovative products and services to government buyers.
Eligible startups can now sell their products on GeM and for same startups are being given exemption from prior experience, prior turnover and Earnest Money Deposit [EMD] stipulations, which is subject to meeting of quality and technical specifications
To recall, in December IndianWeb2 reported that the commerce and industry ministry, along with Department for Promotion of Industry and Internal Trade ( DPIIT, formerly DIPP), is working on a process to enable startups to register and sell products on the Government e-Marketplace (GeM).
The minister also launched SWAYATT, an initiative to promote Start-ups, Women and Youth Advantage Through eTransactions on Government e Marketplace (GeM).
Under GeM’s ‘Start-up Runway’ initiative, government seeks to align certified Start-ups withGovernment 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.
Start-up Runway will 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.
How to Start Selling –
Certified Start-ups will register on GeM portal as a seller with their DPIIT number, provide basic description about the performance of their products/services along with the Test Certificates of quality, their functional utility and specify potential user Ministry/ departments where these products can be used.
Ministries and departments will be sensitised proactively through system generated messages/ alerts in Marketplace about availability of such innovative products on the portal Potential buyers can evaluate these products and services with respect to their utility, uniqueness with respect to design, process and concept, and provide feedback in a time-bound interval and manner. Innovative products with 3+ ratings on a rating scale of (1-5) from 3 or more buyers will be accepted for listing as a regular product or service on GeM
Approximately 1,516 Start-ups are presently registered on GeM with 12,915 products to offer and have received more than 5,000 orders till date.
GeM Start-up Runway seeks 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.
GeM Start-up Runway will address goals and objectives under United Nations Sustainable Development Goal 9: Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation.
It may also be recalled that, GeM is also said to be contemplating on allowing private buyers or companies outside government to buy on the government e-marketplace platform in order to help lower the cost of goods and services for governments and raise online transactions with figures of $25 billion.
Source – Orissa Diary