The Indian Government has rolled out an enthusiastic red carpet to its local start-ups by dedicating a television channel totally to nurturing their projects, offering advice and providing guidance and mentoring.
The decision follows similar dedicated channels in other countries including America which offer a plethora programs to start-up ideas.
The concept has yet catch on in Australia where start-ups can struggle for meaningful recognition, finance and support from State and Federal governments.
India’s plan to support entrepreneurs was announced by finance minister Nirmala Sitharaman who said the channel will promote new businesses and enable venture capitalist and start-ups to make contact.
“The channel will be set-up on the state-run broadcaster Doordarshan and will be designed and managed by the start-up companies themselves” she said.
“It will promote new ideas and be a contact point for matchmaking with venture capitalists.”
India boast the world’s third largest start-up eco system and the new channel is seen by enthusiasts as a positive way to raise aware of new ideas and aspiration among young people in smaller towns and cities because it eliminates the expense of them ravelling to major areas to get their ideas heard.
Start-up creators have welcomed the government’s decision
‘We have seen established companies being given the limelight for the past couple of decades but with this lot of SMEs (small to medium enterprises) and start-ups can come to mainstream and be seen as thought leaders,” said Sandtos Panda, a founder of ticketing start-up Explara.
He told Quartz magazine: “Once the Government starts the ball rolling it will influence privateTV channels to do something similar and bring start-ups into the mainstream.”
America is seen as a leader when it comes to promoting start-ups and entrepreneurship.
A leader in the field in the ABC’s shark Tank, a programme that was also replicated in Australia on commercial television with mixed success.
Some of the projects promoted on Shark Tank attracted attention but consistent quality and commercial values were not always obvious.
Other television support for start-ups on American TV includes Billion Dollar Buyer where companies looking for financial support are introduced to billionaire hospitality mogul Tilman Ferrite the chairman, CEO and only shareholder in Landy’s Inc and Apple Music’s Planet of the Apps.
Quartz magazine says India will be looking for a more controlled and professional atmosphere on the start-up channel after the problems encountered on a previous attempt in a commercial channel.
In 2017 a youth-based reality show called MTV Dropout which dramatically focused on the fate of college drop-outs The lowlight was a raging controversy when a female participant levelled sexual misconduct allegations against the winner. The allegations later proved to be false.