Union Minister Jitendra Singh on Wednesday called for greater collaboration among institutions of higher education and scientific research such as IITs, IIMs, AIIMS, IIMC, and CSIR to foster sustainable startups and innovation-driven entrepreneurship.
Speaking at the inauguration ceremony of an Incubation Centre at the Indian Institute of Management (IIM) Mumbai, Singh said, “The age of working in silos is over.”
He emphasized that the integration of academia, industry, and government is essential for India to achieve its ambitious development goals. “Greater synergy between the public and private sectors is not an option—it’s a necessity,” he remarked.
The minister urged students to lead India’s startup movement, stressing that entrepreneurial potential exists across all sectors—from biotech to agri-tech. Citing the success of the Aroma Mission, he challenged the perception that startups are limited to IT professionals from elite institutions.
He highlighted that over 3,000 lavender-based startups are now generating substantial income in rural India, creating jobs and transforming lives. “Startups are built on aptitude, ideas, and innovation—not just fancy degrees,” he said.
With India now ranking as the third-largest startup ecosystem in the world, Singh revealed that the number of startups has grown from 350 in 2014 to over 1.5 lakh in 2025. “Startups in space tech are adding significant value,” he noted, pointing out that the government has allowed 100% FDI in the space sector and established a ₹1,000 crore venture fund for space-based startups.
He underscored that the future of India’s economy will be shaped by homegrown advancements in biotechnology, artificial intelligence, and quantum computing. A key driver of this progress has been government support, such as the launch of India’s first indigenous DNA-based COVID vaccine, developed under the Department of Biotechnology (DBT).
Singh also praised the BioE3 Policy—Biotechnology for Economy, Environment, and Employment—calling it a game-changer that is propelling India to the forefront of the global biotech landscape.
“You are the generation that will lead a Viksit Bharat, a fully developed India. This is not just your opportunity; it is your responsibility,” he said, urging students to prepare for the historic role they are destined to play in shaping the nation’s future.