Need to ensure that startups are not afraid of failure, says Piyush Goyal
Startups need to be encouraged to experiment and ensure that they are not afraid of failure, Commerce and Industry Minister Piyush Goyal on Tuesday said.
He said that so in some sense, failure also has its importance, particularly in research, innovation and invention.
"Our startups need to be encouraged to experiment, to go beyond the run of the mill thinking. We need to ensure that our startups are not afraid of failure. I believe that the country should celebrate failure because it is only when somebody fails, he knows how not to do something," he said at CII's Global Bio India Startup Conclave.
The minister also said the need of the hour is to engage more with rural India also as there is a lot of talent lying there.
"You cannot have great innovation and invention coming up through just government initiative, we need to have all sections of business involved. The government should act as an enabler, a service provider," the minister added:
The government is taking steps to promote startups in the country. It had launched the Startup India initiative in January 2016 to build a strong ecosystem for nurturing innovation and entrepreneurship.