Reduce “infant mortality” rate among start-ups: Prabhu

TIL Desk/Business/New Delhi/ The official figure of existing start-ups in India was 20,000, but their actual number is much more than that, Union Commerce and Industry Minister Suresh Prabhu said. The current figure of young ventures in the country is “grossly understated”, he said and suggested reducing “infant mortality” rate among start-ups.

He was addressing the Goa Start-Up and Innovation Day here. The two-day event, which ended today, was an interactive programme organised by the Goa government to provide a platform to new ventures to explore various opportunities.

State Information and Technology Minister Rohan Khaunte was also present on the occasion. “India officially has 20,000 start-ups across the country, but this is a grossly understated number. When I go around the country, I see there are several more start-ups,” he said, delivering the key-note address.

Recalling his recent visit to the Gujarat University, Prabhu said he found young boys aged 17-18 years who have incredible ideas. “These boys are ahead of others. They”are going to be successful businessmen of the future.”