New Delhi: Minister for IT and Communications Ashwini Vaishnaw stated on Thursday that the Indian startup ecosystem has gained global recognition and respect, and he urged startups and entrepreneurs to develop inclusive new-age solutions to improve the lives of the poor and underprivileged.
The minister referred to startups as "accelerators," saying that the combination of their multiplier effect and the strength of a trustworthy post office network may produce remarkable outcomes in terms of financial inclusion goals.
"Understand the weight of humanity and technology colliding...keep the bottom of the pyramid in mind for all programs...the goal is to reach the society's last individual," the minister said during the inauguration of the 'Fincluvation' initiative.
Fincluvation is a collaborative initiative between India Post Payments Bank (IPPB) and the Department of Posts (DoP) to cooperate with the fintech startup ecosystem to co-create and innovate solutions for financial inclusion. Startups are welcome to participate, develop, and market intuitive and personalised goods and services that can be taken to clients through this programme.
Startups will be encouraged to provide solutions associated with tracks such as creolization, digitization, and any market-led solution that will assist IPPB or DoP in serving the target clients. "Today, India's startup ecosystem is regarded as one of the best in the world." We are now one of the world's top three startup ecosystems," the minister noted.
He claims that collaborating with entrepreneurs from various industries has yielded incredible results. "The results have been outstanding and amazing in each field where the government has engaged with entrepreneurs," Vaishnaw said.
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