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National Startup Advisory Council

Topics Covered: Statutory, regulatory and various quasi-judicial bodies.

National Startup Advisory Council:


Context:

The first meeting of the National Startup Advisory Council (NSAC) was held recently.

What is the NSAC?

  • Constituted by the ‘Department for Promotion of Industry and Internal Trade (DPIIT).
  • Its role is 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.

Functions of NSAC:

  • Suggest measures to foster a culture of innovation amongst citizens and students.
  • Promote innovation in all sectors of economy across the country, including semi-urban and rural areas.
  • Support creative and innovative ideas through incubation and research and development to transform them into valuable products.

Structure of NSAC:

  • The National Startup Advisory Council will be chaired by the Minster for Commerce & Industry.
  • The Council will consist of the non-official members, to be nominated by the Central Government.
  • The nominees of the concerned Ministries/Departments/Organisations, not below the rank of Joint Secretary to the Government of India, will be ex-officio members of the Council.

InstaLinks:

Prelims Link:

  1. NSAC.
  2. Composition.
  3. Functions.

Sources: PIB.