New Delhi: Chief Minister Arvind Kejriwal said that there are over 7000 startups in Delhi, which makes Delhi having the highest number of active startups in the country, with an estimated valuation of about $50 billion. Addressing the IndUS Entrepreneurs (TiE) Global Summit here on Wednesday, the Chief Minister shared the Delhi government’s efforts in building a comprehensive framework and turning Delhi into a global start-up destination.
Arvind Kejriwal said that there are over 7000 startups in Delhi, which makes Delhi having the highest number of active startups in the country, with an estimated valuation of about $50 billion, adding that the Delhi government is committed to ensuring that we bounce back strongly from the impact of COVID.
He said that he is happy that Delhi has already taken a leadership position in India as a destination for start-ups, adding “Delhi government is committed to providing world-class infrastructure and services for start-ups and businesses in Delhi which includes power supply, roads, public transport, water supply, education, and health infrastructure.”
CM Kejriwal said the Delhi government is at an advanced stage of rolling out a Start-up Policy. He said that to layout provisions to facilitate start-ups in Delhi, the policy is being developed after widespread consultations with TiE Delhi and leading entrepreneurs. As part of the Start-up Policy, he said, the Delhi govt plans to provide collateral-free loans and set up a dedicated helpline for startups to address their concerns and help them use govt’s doorstep service.
The Delhi government is taking unprecedented short and long-term steps to ensure start-ups have access to the best quality human capital in Delhi itself through Entrepreneurship Mindset Curriculum in schools and Delhi Skill and Entrepreneurship University, he added.
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CM Arvind Kejriwal said, “It’s a pleasure to be a part of the TiE Global Summit and speak to all of you today. I will be sharing with all of you Delhi’s efforts in building a comprehensive framework to turn Delhi into a global start-up destination. Like it is happening all over the world, Delhi’s economy also has been badly hit due to the Coronavirus pandemic. Many businesses are struggling to stay afloat and many people have lost their jobs.”
“While all businesses are struggling, I can understand that start-ups must be facing an even tougher time. The Delhi government is committed to ensuring that we bounce back strongly from the impact of Covid. We want to create all the necessary conditions for businesses, and especially, start-ups to flourish. I am happy to note that Delhi has already taken a leadership position in India as a destination for start-ups.”
He said, “According to a September 2019 TiE report, there are over 7000 startups from the Delhi-NCR region. This makes Delhi as the region with the highest number of active startups in the country. It is estimated that the valuation of the city’s start-ups is about 50 billion dollars. The region has also produced about 13 unicorns like PayTM, Oyo, and Zomato. At least one new unicorn has been emerging each year since 2013. Between January and June, 2020, 109 startups were founded in Delhi-NCR, the highest number of startups being founded in the first six months of 2020 in India.”
“The report states that Delhi-NCR is set to become one of the top five global start-up hubs with 12,000 startups and 30 unicorns. Their cumulative valuation will be about 150 billion dollars by 2025. Of course, it is not a given and that is why the Delhi government is committed to taking all necessary actions to ensure Delhi becomes a preferred destination for start-ups globally. First and foremost, what all start-ups need is good infrastructure. Delhi government is committed to providing world-class infrastructure and services for start-ups and businesses in Delhi. This includes, power supply, roads, public transport, water supply, education, and health infrastructure,” he added.
He said, “Delhi is probably the only city in India that provides 24×7 power supply to its residents. We don’t have power cuts. DG sets and inverters are all becoming redundant. But this wasn’t the case 5 years back when summers in Delhi were synonymous with 4-6 hours of power cuts. Over the last 5 years, we have worked round the clock with our DISCOMS to upgrade the entire network and ensure our residents get 24×7 supply and at the cheapest possible tariff. Delhi has a complex governance setup with over 16 agencies managing the road network. That makes it difficult to upgrade the road infrastructure. But we have ambitious plans to renovate and upgrade over 500 km of the largest roads in Delhi to European standards in the next 5 years.”
“The Delhi government is also settnig up a high-tech business park at Rani Khera in 150-acres land. This will be just 15 minutes away from the Delhi International Airport. It is this first of its kind and will have IT & service industries among others. The park will have green buildings, large size workspaces on every floor, multipurpose business facilities, and pedestrian plazas. It will have retail, food and beverage (F&B) amenities of all kinds. The Delhi government will develop this first-of-its-kind business park in seven different phases. The first phase of the work will be completed by 31 August 2022. In the first phase, a multistoried building of 15 lakh square feet would be built,” said the CM.
CM Arvind Kejriwal said, “We understand that start-ups face unique challenges and therefore Delhi government is at a very advanced stage of rolling out a Start-up Policy. This will lay out a range of provisions to encourage and facilitate start-ups in Delhi. This policy is being developed after widespread consultations with TiE Delhi and several leading entrepreneurs, so we hope this will be a major boost for start-ups. For example, to help startups grow, we will form a range of networks with incubators, co-working spaces, and fabrication labs. These networks will leverage the provisions of existing stakeholders in the market.”
“As part of the Start-up Policy, we plan to provide collateral-free loans for start-ups in priority areas. We will also enable easy access to experts who can aid start-ups with accounting, taxation, registration, legal help, digital marketing, and other such services. Further, Delhi government will align its public procurement in a manner that a fixed percentage of all of our goods and services are procured through recognized start-ups,” he added.
Arvind Kejriwal further said, “A Dedicated Helpline will also be set up to answer all startup related queries and address grievances. Individuals and Startups will be able to use the Government of Delhi’s doorstep service, by dialing 1076, to call a CA and/or lawyer to help them incorporate a company from their home or office. Besides, we will also initiate reforms so that start-ups have a single-window for all interactions with government departments and that they have opportunities to showcase their innovations through Hackathons and Start-up Challenges to investors in India and around the world.”
He said, “We understand that no business can survive without human capital. In fact, for start-ups competing in the 21st century, quality human resources are the most valuable asset. The Delhi government is taking unprecedented short and long-term steps to ensure start-ups have access to the best quality human capital in Delhi itself. A breakthrough step in this is the introduction of the Entrepreneurship Mindset Curriculum. This Entrepreneurship Mindset Curriculum (EMC) was aimed at instilling an innovation mindset among students.”
“The ideas was to enable them to take their ideas to the next stage, while creating future job-providers rather than job-seekers. Under the EMC, each day, children from classes 9 to 12th in 1,024 Delhi Government schools spend 40 minutes picking up soft skills such as speaking with confidence, problem-solving, and understanding how businesses work. Students are each given INR 1,000 as ‘seed money’ to enable them to develop their ideas, and will get to keep it if their ideas grow into a money-making business. The program has gained rapid traction, having trained over 18,000 teachers in the EMC. 14,000 students have enrolled in the classes. The department is also in the process of engaging close to 17,000 entrepreneurs for classroom interactions with students on EMC. Last year, 4,000 entrepreneurs had interacted with 3,10,309 students and discussed their journey as entrepreneurs.”
He further said, “Another step we have taken in the direction of ensuring the best quality of human resources is establishing the Delhi Skills and Entrepreneurship University. The purpose of establishing this university is to fix the existing gap in the country by upskilling students and readying future-entrepreneurs of the country. This will have the capacity of enrolling at least 125,000 students, which would include short-term, long-term, diploma, degree, and Ph.D. courses.”
He said, “World-class skill centers will be set up to provide skill-based training and degrees. It will also cater to the students by identifying future-centric jobs. Tool Engineering College of Delhi, GB Pant Engineering College, ITI, and Skill Training Centres will be brought under the ambit of the university. There will also be an industry tie-up unit that will focus on forging strong ties with different industry partners.”
“The unit will facilitate internships, placements, and offer entrepreneurship and start-up opportunities to students who want to start their own businesses. The Delhi Skill and Entrepreneurship University’s first academic session is expected to start next year in close consultation with companies. The companies will be treated as “customers” in this endeavor so that courses are in tune with industry demand.”
“We are committed to taking as much as it takes to make Delhi a global startup hub. I thank the TiE Global Summit organizers for this opportunity to share our thoughts and plan for making Delhi a global start-up destination to a global audience of Angel Investors, Venture Capitalists, Industry Leaders, Entrepreneurs, Thought Leaders, and TiE Members,” the CM added.
