Description of the core change(s) brought by this policy instrument
The Delhi city-state has kicked off a consultation process to draft a new startup policy with industry leaders and entrepreneurs, with the goal of making Delhi their preferred destination for startups.
Please name the policy advisor(s) or leader(s) who have been key in introducing and/or designing this policy instrument
Delhi chief minister Arvind Kejriwal leads the consultation process. "Right since my IIT days, I have seen some of the most brilliant minds from India go abroad for better opportunities. I believe Indians are the smartest entrepreneurs in the world and all they need is the right opportunity and right conditions to help them thrive," Kejriwal told the media.
The industry leaders who have joined the interaction include:
- Padmaja Ruparel, co-founder, Indian Angel Network
- Ajai Chowdhry, co-founder of HCL
- Rajan Anandan, MD Sequoia Capital
- Sriharsha Majety, co-founder and CEO of Swiggy
- Farid Ahsan, co-founder, ShareChat
- Suchita Salwan, founder and CEO, Little Black Book
- Tarun Bhalla, founder, Avishkaar
- Riyaaz Amlani, CEO & MD, Impresario Handmade Restaurants
Aug. 8, 2020: The Delhi government kickstarted the consultation process for drafting a policy.
Detailing the outline of the process of drafting the policy, the official statement for the launch of this process laid out a two-stage process for consultations: 1) inviting inputs from industry leaders, entrepreneurs, and policy experts followed by seeking of public opinion; and 2) the Delhi government will then release the draft start-up policy and launch an online forum to seek inputs from the general public.
Stated goal/metrics of the policy instrument
Making the national capital one of the top 5 start-up destinations in the world.
“The objective of the draft policy is to support entrepreneurs and build a robust economic and policy infrastructure that will create new jobs and bring new competitive dynamics into the current economic system,” read a statement released by the chief minister’s office on August 8, 2020.
Challenges, criticisms and lessons
Welcoming the initiative, Rajan Anandan, Managing Director of Sequoia Capital said, "The National Capital Region (NCR) is already the largest start-up region in India and within NCR, Delhi has the most number of start-ups. The discussion was very good with many points raised on what will take Delhi''s start-up ecosystem to the next level.”
Notes and additional context
In the inaugural meeting with stakeholders, Minister Kejriwal cited a September 2019 TiE report claiming the Delhi region had over 7000 start-ups and that valuation of the city’s start-ups is about $50 billion. Via an official statement, he also highlighted that the report also states that the Delhi-NCR region has the potential to become by 2025 one of the top five global start-up hubs with an expected 12,000 start-ups, 30 unicorns, and a cumulative valuation of about $150 billion.