National Startup Advisory Council NSAC

In News 

• The Minister of Commerce and Industry chaired the 4th meeting of National Startup Advisory Council (NSAC) in New Delhi. 

National Startup Advisory Council (NSAC)

• About:
  • It was constituted by the Department for Promotion of Industry and Internal Trade (DPIIT) to advise the government on measures needed to build a strong ecosystem for nurturing innovation and startups in the country to drive sustainable economic growth and generate large scale employment opportunities.
• Composition:
  • Chairman: Minister for Commerce & Industry.
  • Ex-officio Members: Nominees of the concerned Ministries/Departments/Organisations not below the rank of Joint Secretary.
  • Besides the ex-officio members, the council has non-official members, representing various stakeholders such as founders of successful startups, veterans who have grown and scaled companies in India
• Functions:
  • It will suggest measures to foster a culture of innovation amongst citizens and students, in particular, promote innovation in all sectors of the economy across the country.
  • It is a one of its kind congregation wherein the policy making process is driven as part of collaboration between all the key stakeholders of the Startup ecosystem.

Source:PIB