State govt aims to make Delhi India's startup hub: Education minister

On Thursday, the Delhi government declared that it is vying to make the national capital India's startup hub, with an emphasis on youth- led entrepreneurship and innovation.

Education Minister Ashish Sood stated that through the Directorate of Training and Technical Education (DTTE), the government is enhancing the campus market ecosystem by motivating students and young innovators to consider entrepreneurship as a mainstream career choice.

He made the remarks ahead of the Delhi Startup Yuva Festival, which is set to be launched on Friday at Netaji Subhash University of Technology (NSUT) in Dwarka.

The minister said that more than 75, 000 students and young innovators are engaged in DTTE, supporting entrepreneurship and innovation programmes, with participation increasing by 25, 30 per cent annually. Over 470 startups are incubated in government, supported institutions across different sectors such as technology, healthcare, sustainability, education, manufacturing and creative industries.

Sood further mentioned that the startups supported by DTTE are creating an average of four to five direct jobs in their first year, thus making a significant contribution to the employment sector.

These startups have, together, generated a turnover of around Rs 500, Rs 600 crore, according to preliminary figures, he said.

The minister said in addition to the policy support initiatives, the Delhi government is enhancing its startup ecosystem by this new Delhi Startup Policy 2025 that plans to spend Rs 325 crore over five years and target the support of 5, 000 startups by 2035. It intends to extend the activities of incubation centers and innovation labs, especially focusing on student entrepreneurs, women founders, and first generation innovators.

Sood mentioned that the Delhi Startup Yuva Festival is going to be a platform where youngsters, led startups will be showcased, entrepreneurs will be connected with investors and mentors, and innovation driven solutions will be promoted. Over 750 startup pitching and innovation competition applications have been submitted to the festival.

The minister mentioned that to ensure support doesn't stop with the festival, the DTTE has strategically partnered with TiE Delhi, NCR to provide long term mentorship, capacity building, and better access to funding. He also said that the partnership is a symbol of the government's dedication to developing an inclusive, globally competitive startup ecosystem.