National Startup Advisory Council (NSAC) Reconstituted

• 20 Dec 2023

On 18^th Dec, the government, nominated 31 non-official members, including Abhiraj Singh Bhal from Urban Company and Kunal Bahl from Snapdeal, in the reconstituted National Startup Advisory Council (NSAC).

Key Points

• Establishment and Purpose of NSAC: The Department for Promotion of Industry and Internal Trade (DPIIT) created the NSAC in January 2020 to provide advice to the government on measures essential for building a robust ecosystem supporting innovation and startups in India.
• Two-Year Term for Non-Official Members: Non-official members of the council, including founders of successful startups, industry veterans, and investor representatives, are nominated for a two-year term, according to the Department.
• Representation of Diverse Stakeholders: The Centre nominates non-official members representing various stakeholders, ensuring inclusion of successful startup founders, individuals with experience in growing and scaling companies in India, representatives capable of voicing investor interests, and association representatives.
• NSAC's Role in Fostering Innovation: The reconstitution of NSAC precedes its eighth meeting, scheduled for Tuesday. The council convenes regularly to propose measures fostering a culture of innovation among citizens and promoting innovation in the startup ecosystem.
• Diverse Nominees Reflecting Expertise: The nominated non-official members include individuals with diverse expertise, such as Professor Amitabha Bandyopadhyay from IIT Kanpur, Karthik Reddy from the Indian Venture and Alternate Capital Association, Professor Yogesh Singh from the University of Delhi, Nithin Kamath from Zerodha, Nivruti Rai from Invest India, and presidents of industry chambers like CII.