September 8, 2024: India’s journey toward becoming a global leader in innovation will be significantly shaped by women-led startups, according to Dr. Jitendra Singh, Union Minister of State (Independent Charge) for Science and Technology.
Dr. Singh emphasized that the ambitious vision for India’s growth by 2047 hinges on the transformative potential of these startups, with women entrepreneurs poised to drive this change across various sectors.
Dr. Singh made these remarks during a virtual event marking the launch of eight new NIDHI Inclusive Technology Business Incubators (NIDHI–iTBI) and the unveiling of a new DST-NIDHI website at IIT Delhi on Friday.
He emphasized the crucial role of these incubators in bolstering India’s startup ecosystem, noting, “The celebration of eight years of the NIDHI initiative highlights Prime Minister Modi’s dedication to supporting women entrepreneurs and enhancing financial inclusion.”
NIDHI Initiative brings Women-led Startups to the forefront
The NIDHI initiative, spearheaded by the Department of Science and Technology (DST), is a targeted three-year program aimed at fostering innovation and entrepreneurship within educational institutions. Designed to support startups, particularly from tier 2 and tier 3 cities, the initiative provides essential resources and guidance during critical stages of growth.
Dr. Singh explained that NIDHI addresses a critical need in India’s innovation landscape by bridging the gap between academic research and market application, ensuring that scientific advancements translate into tangible societal benefits.
Dr. Singh further highlighted that the NIDHI initiative is pivotal in connecting intellectual efforts with practical market needs. “By facilitating a bridge between academic institutions and industry, NIDHI ensures that innovative ideas do not remain confined to research labs but are effectively brought to market,” he stated.
This approach aims to drive significant changes in the startup ecosystem, especially women-led startups , encouraging a culture of innovation that extends beyond traditional boundaries and contributes to India’s growing global presence.
As India navigates its path toward becoming a Viksit Bharat by 2047, the role of women-led startups and initiatives like NIDHI will be instrumental in shaping the nation’s future. Dr. Singh’s remarks underscore a broader commitment to fostering a vibrant and inclusive innovation ecosystem that leverages the full potential of its entrepreneurs.
With continued support and strategic initiatives, India is well-positioned to lead in global innovation and entrepreneurship, setting a precedent for other nations to follow. And Women-led startups will be in the spotlight.
