India with over 4,200 start-ups, has the third largest start-ups eco-system in the world, behind the U.S. and the U.K

Updated on: Tuesday, January 12, 2016

startup President Pranab Mukherjee has said that India has the third largest start-ups eco-system in the world, According to PTI reports, he once again stressed on the quality of education in the country.

India with over 4,200 start-ups, has the third largest start-ups eco-system in the world, behind the U.S. and the U.K, he informed. He asserted that higher academic institutions have a clear role to play in refining the entrepreneurial abilities of their students.

"Multiple interventions are necessary. Attracting quality faculty and continuous faculty development is one. Adjunct faculty from the industry and research institutions, if hired, can provide practical orientation to course modules," the President said.

He also said that by promoting centres of excellence, the core competencies of an institute can be nurtured. "Through the establishment of research parks, cutting-edge research can be pursued and that will help develop a world class eco-system in our institutions," he said.

The President said that institutes can also pursue establishment of partnerships with foreign and domestic institutions by signing a Memoranda of Understanding. He said there was a need for giving a boost to start-ups in order to provide a head-start to various innovative activities.

"Due to facilitated environments that have evolved, the youth today has a greater share for entrepreneurship. Many start-ups in India have become successful and have shown the path of progress to others," the President said.

Other support measures such as small industries, entrepreneurs' park of BIT in Mesra, are needed to prepare students to become 'job creators' rather than 'job seekers'. In his address, the President said that creating inter-linkages with other higher education institutions can deliver benefits in terms of resource sharing like academic experts and course material, exchange of students and faculty, scope for research collaboration, and sharing of new ideas and best practices.

India with over 4,200 start-ups, has the third largest start-ups eco-system in the world, behind the U.S. and the U.K

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