Handholding of Startups important of their survival: S Chandrashekhar

Dr Chandrashekhar said 4,600 startups were closed during 2021-22 alone from 80,000 startups set up over the years in India

Sangareddy: Secretary to the Department of Science and Technology Dr Srivari Chandrashekhar said an alarming number of startups were closing down in the country. To address the issue, the the new innovation policy of the Centre was insisting on handholding of startups until they consolidate in the market.

Addressing the inaugural session of “Innovation Day-2023” at the Indian Institute of Technology-Hyderabad at Kandi in Sangareddy on Saturday, Dr Chandrashekhar said 4,600 startups were closed during 2021-22 alone from 80,000 startups set up over the years in India. Encouraging innovations made at the grassroots level was very important, he said.

Suggesting that innovators take innovation and invention together when they do research, he called upon researchers to concentrate on the wider space of the market while doing research on anything. Underlining the importance of IIT-Hyderabad collaborating with State-run universities in Telangana to encourage talented youngsters, he said students were not getting much opportunities due to lack of facilities and guidance at State-run Universities.

Chandrashekhar also asked IIT-H Director Prof BS Murty to work with Telangana University and Mahatma Gandhi University, Nalgonda to encourage young minds.

Board of Governors IIT-H BVR Mohan Reddy, Dean Innovations and Startups Prof Surya Kumar, Co-founder of Fractal Analytics Srikanth Velmakanni and others were present. Thirty researchers put up their innovations on display during the event.