Government has proposed the setting up of a mechanism to oversee the nurturing and progress of startups as their numbers have risen to more than a lakh, Science and Technology Minister Jitendra Singh said on Sunday.

He said such a mechanism will closely follow the growth of Startups, see how to sustain them so that they do not lose out, especially those that have received technical and financial support from the Government.

Singh was addressing the valedictory function and Awards Ceremony of the National Technology Week Exposition at Pragati Maidan here.

The minister said over the years start-ups have witnessed a shift from IT to Biotech and Earth Sciences as new opportunities have opened in Oceanography.

He also debunked myths surrounding startups.

“One is age factor, I have seen a scientist setting up a startup after retirement; second is higher qualification, you just need to be an innovator, having an inherent quest for creativity,” Singh said.

Principal Scientific Advisor Ajay Kumar Sood suggested that there should be a Startup Day & Week on the patterns of the National Technology Day and Week.

S Chandrasekhar, Secretary Department of Science & Technology, said every startup that took part in the Exposition was very conscious of sustainable development.

“By Amritkaal, we hope to cease all greenhouse emissions and minimize damage to the environment,” he said.

Singh also presented the National Technology Awards for successful commercialisation of innovative indigenous technology.

The national technology week celebrations began on May 11, the 25th anniversary of the Pokhran-II nuclear tests carried out in 1998.

The National Technology Day celebration was started in 1999 by the then Prime Minister Atal Bihari Vajpayee to honour Indian scientists, engineers and technologists, who worked for India’s scientific and technological advancement and ensured the successful conduct of Pokhran tests in May 1998.