The Union Minister of Commerce and Industries Suresh Prabhu launched SWAYATT (Start-ups, Women and Youth Advantage Through eTransactions) and GeM Start-up Runway. SWAYATT will bring together the key stakeholders within the Indian entrepreneurial ecosystem to Government e-Marketplace the national procurement portal.
The objectives of SWAYATT are-
1. Take proactive steps to facilitate the training and registrations of such a specific category of manufacturers and sellers.
2. To promote inclusiveness by catapulting various categories of sellers and service providers.
3. Develop women entrepreneurship and encourage participation of the MSME sector and Start-ups in public procurement.
Start-up Runway will enable Start-ups to conduct market trials with government buyers, seek time-bound feedback and gain realistic product, price comparison and market valuation from potential buyers and investors.
To enable Start-ups in scaling operations from ideation to growth stage in minimal time. To support technology development, spur research and innovation by ensuring a conducive policy environment for industrial diversification and value addition to commodities. To align certified Start-ups with Government procurement orders and contracts.
GeM Start-up Runway will address goals and objectives under United Nations Sustainable Development Goal 9: Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation.