Govt aims to create more than 1 crore job from digital economy in next 2 years: Vaishnaw

"Government has set a target that in this we should be easily crossing 1 crore jobs in the coming two years without any doubt," the minister said.

In addition to the digital economy and its associated employment, he said diversity is also a major trend these days.

"Earlier names of a couple of cities were mentioned for startups. Now when I go to schools in villages, children in villages want to set up a start-up," Vaishnaw said.

India is transitioning from being a technology consumer to a producer, according to the minister.

In order to give companies a platform, he said that the Software Technology Parks of India (STPI) are building plug-and-play infrastructure.

At the ceremony, Arvind Kumar, director general of STPI, stated that his organisation offers plug-and-play infrastructure for startups in 64 locations, of which 54 are in tier 2 and 3 cities.

"We provide Rs 5-10 lakh seed fund to startups through the centre of excellence. Under the Next Generation Incubation Scheme, we fund Rs 25 lakh to startups that come from tier 2 and 3 cities. We have granted NGIS benefits to around 65 startups and the target is to fund 300 startups by 2025," Kumar said.

According to him, the government is concurrently accelerating its support for the startup environment and pushing for the nationwide deployment of 5G to give startups more opportunities.

At the event, Padmaja Ruparel, a founding partner of the Indian Angel Network, expressed interest in working with STPI to support businesses with funding and mentoring.

"Today Indian Angel Network has announced that they would like to become VC partner to STPI's startup initiatives and join the list of investment partners such as SucSeed Ventures, Villgro, Inflection Point Ventures, Hyderabad Angels, Chandigarh Angels, Forum Synergies, PadUp Ventures, Vinners Angels, Modular Capital etc., which are bringing value along with funds to startups in STPI," Kumar said.

From across the nation, 125 startups have been shortlisted by STPI and the Electronics and Computer Software Export Promotion Council (ESC).

40 startups will be selected from the list by both organisations and invited to the US Consumer Electronics Show to present their products.

"We have partnered with TiE Silicon Valley where selected startups will pitch for strategic partners or investors in the US. Consulate General of India is also supporting us in connecting to investors in the US," ESC Chairman Sandeep Narula said.