Procurement by Government
Bid for government tenders and become a seller to the Government through the Government e-Marketplace (GeM) and other channels
Governments, just like private companies, have to buy goods and services for their operational needs.
Public procurement refers to the process by which governments and state-owned enterprises purchase goods and services from the private sector. As public procurement utilises a substantial portion of taxpayers' money, governments are expected to follow strict procedures to ensure that the process is fair, efficient, transparent and minimises wastage of public resources.
How Can Public Procurement Benefit My Startup?
In India, public procurement (government tenders) can also present useful pilot opportunities for startups that have not yet been able to gain traction in the private sector.
Conversely, opening government tenders up to startups improves the choices available to government bodies since startups are often more agile than corporate vendors and can provide cheaper, more innovative products and services.
What is GeM and what is GeM Startup Runway?
Government e Marketplace (GeM) is an online procurement platform for government ministries and departments, and the most widely used channel for public procurement in India. MSMEs, DPIIT recognised startups and other private companies can register on GeM as sellers and sell their products and services directly to government entities.
GeM Startup Runway is a new initiative launched by GeM to allow startups to reach out to the universe of government buyers by offering innovative products that are unique in design, process and functionality.
What is the Startup India Initiative?
Launched on 16th January, 2016, the Startup India Initiative has rolled out several programs with the objective of supporting entrepreneurs, building a robust startup ecosystem and transforming India into a country of job creators instead of job seekers. These programs are managed by a dedicated Startup India Team, which reports to the Department for Industrial Policy and Promotion (DPIIT).
Simplification and Handholding
Easier compliance, easier exit process for failed startups, legal support, fast tracking of patent applications and a website to reduce information asymmetry.
Incubation & Industry-Academia Partnerships
Creation of numerous incubators and innovation labs, events, competitions and grants.
Funding & Incentives
Exemptions on Income Tax and Capital Gains Tax for eligible startups; a fund of funds to infuse more capital into the startup ecosystem and a credit guarantee scheme.