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Union Minister Jitendra Singh has expressed need for a mechanism to be put in place to follow up the progress of Startups as their number have risen to more than a lakh. He said that this is the age of innovation and ideas.

Singh added that under Prime Minister Narendra Modi, the government is providing every kind of technical as well as financial support for ideas and innovations to grow and sustain.  As a result, India has emerged as the leading StartUp ecosystem in the world with more than one lakh StartUps and more than 100 Unicorns and the time has come to strategise sustainability.

Meanwhile, Union Minister chaired a high-level joint meeting of Science Ministries and Departments where it was projected that lack of innovation, lack of skilled workforce or lack of funds could possibly be the major factors adversely affecting the sustainability of some Startups. The Minister proposed that an exercise could be undertaken to assess whether the Startups could be identified by a ‘Unique ID’ for effective monitoring across all sectors.