India Launches ₹490 Crore GENESIS Program to Boost Innovation in Tier-II, III Cities
The Ministry of Electronics and Information Technology (MeitY) has launched Digital India-GENESIS, an ambitious program aimed at fosting innovation and entrepreneurship in Tier-II and Tier-III cities. The initiative, with an allocation of ₹490 crore over five years, seeks to empower local innovators and promote digital growth in smaller cities.
GENESIS targets deep tech and technology-driven startups, focusing on sectors like AI, IoT, EdTech, and HealthTech. It aims to create an inclusive ecosystem where startups have access to funding, mentorship, and collaborative networks. The program encourages collaborative engagement among startups, government agencies, and corporate partners to ensure holistic support and market access.
To facilitate this, the Indian government has selected the Indian Angel Network (IAN) Alpha Fund to support the Genesis Startup Program. This will provide early-stage startups with crucial financial support, mentorship, access to policymakers, technology partners, talent pools, and market opportunities. GENESIS represents a strategic push to democratize entrepreneurship in India, ensuring innovation is not limited to metropolitan areas.
With an allocation of ₹490 crore, GENESIS envisions a thriving ecosystem where startups drive employment generation, economic growth, and enhanced digitization across India. By empowering local entrepreneurs and promoting inclusive, accessible, and affordable digitization, the program seeks to unlock the deep tech potential of smaller cities and foster regional innovation.