Asserting the power of young startup founders and innovators developing new solutions in India for the world, Prime Minister Narendra Modi said the youth is transforming from job seekers to job creators.
“Youth has played a major role in moving India from eleventh to fifth spot in the world in terms of economy,” the PM said on March 20, the final day of the three-day Startup Mahakumbh held at Bharat Mandapam in New Delhi.
The entrepreneurial culture is no longer restricted to metros, with the government making provisions via incubators to encourage self-employment beyond Tier 2 and 3 regions, he said.
“It's become a societal norm. Startup culture has reached over 600 districts now,” he added.
“The government started to work on startups at the right time. There was a strategic vision behind this,” the PM said while addressing a gathering of investors, incubators, startup founders and "future entrepreneurs" students.
Modi also talked about hackathons organised by various departments and universities, and he encouraged companies to take up more such competitions to involve the younger population. It would allow them to broaden their innovations and come up with better ideas, he said.
“Seventy-eighty percent of solutions given by startups and entrepreneurs during hackathons have been adopted by government. We should have more hackathons to resolve issues for every sector, including MSMEs,” he said.
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