Context:

Recently, the Union Ministry of Commerce & Industry launched the Bharat Startup Knowledge Access Registry (BHASKAR) Portal.

About BHASKAR Portal                        

• It, under the Startup India program, is a platform designed to centralize, streamline, and enhance collaboration among key stakeholders within the entrepreneurial ecosystem, including startups, investors, mentors, service providers, and government bodies.
• The primary goal of BHASKAR is to build the world’s largest digital registry for stakeholders within the startup ecosystem.
• It is envisioned as a one-stop digital platform where diverse startup ecosystem stakeholders can seamlessly connect and collaborate, catalysing the growth and success of the startup ecosystem across India.
• It will act as a catalyst for innovation and will foster greater connectivity between startups, particularly in tier-2 and tier-3 cities.
• It supports the Government of India’s vision to make the country a global leader in innovation and entrepreneurship, underscoring its commitment to the startup movement.

India’s Startup Ecosystem

• Startup India, launched in 2016, is a flagship initiative of the Government of India designed to catalyse startup culture and build a strong and inclusive ecosystem for innovation and entrepreneurship. 
• India is home to the third largest startup ecosystem, with over 146,000 DPIIT-registered startups.
• Startups and their corporate partners contributed $140 billion to the Indian economy in FY23, accounting for nearly 4% of GDP.

Key Features of BHASKAR

• Industry Alliances: By bringing together stakeholders from different sectors, industries, technologies, and regions, the platform creates opportunities for cross-collaboration for all.
• Dynamic Networking: Easily connect and collaborate with like-minded people via personalised dashboards.
• Enhanced Visibility: It makes yourself visible using profile cards to be discovered across the startup ecosystem.
• Personalised Identification Number: BHASKAR ID tied to one’s profile for a personalised dashboard.  That digital identity will enable to access various services and be discovered by other members.

Significance of the Portal

• Technology and interconnectivity will help Indians build 'Brand India' as a tool to market our products and services across the world and help us change the image of India to the rest of the world.
• It is a one-stop digital platform for data dissemination, exchange, and interaction for the entire startup ecosystem.
• It is a pivotal advancement in the government's strategy to enhance innovation, entrepreneurship, and job creation.
• It will be essential in building a more resilient, inclusive, and innovation-driven economy, setting the stage for a prosperous future.