Piyush Goyal announces startup helpline after remark on lack of tech focus

Union Commerce and Industry Minister Piyush Goyal on Saturday announced the launch of a dedicated Startup India desk within the ministry to serve as a helpline for budding entrepreneurs across India.

The announcement comes after Piyush Goyal’s take on India’s startup ecosystem ignited a debate on entrepreneurship. He had urged the startup community to focus more on the tech sector and artificial intelligence (AI) as compared to grocery delivery and ice cream making.

According to a government press release, Piyush Goyal said the helpline would be accessible through a simple four-digit toll-free number in regional languages. Through this helpline, a startup can also suggest steps to further improve the ecosystem and flag problems, if they are facing any.

Funds to address national priorities

The BJP leader also said the second Fund of Funds for Startups with a corpus of ₹10,000 crore was approved by the Centre this year, and ₹2,000 crore from this will be disbursed to the Small Industries Development Bank of India (SIDBI) as the first instalment.

Piyush Goyal said a significant portion of the fund will be reserved for seed funding of small startups and to support deep-tech innovation. “We aim to foster the development of cutting-edge technologies like AI, robotics, quantum computing, machine learning, precision manufacturing and biotech,” he said.

The minister said the goal is to provide early-stage financial support to budding entrepreneurs who face difficulties in accessing traditional forms of capital. The fund aims to support startups focussed on cutting-edge domains such as artificial intelligence, machine learning, quantum computing, robotics, precision manufacturing, biotech, and semiconductor design, which have longer gestation periods.

Piyush Goyal said the Centre aims to build a strong pipeline of indigenous technology solutions by mobilising capital to address national priorities and position India as a global innovation leader.

The Mumbai North MP also urged SIDBI to establish at least one support centre in every state to provide basic infrastructure and shared facilities for early-stage entrepreneurs.

“We must unlock India’s full potential through facilitation, not regulation. The Government is here to support your journey, not control it,” Goyal concluded.