Government procurement is not always easy in India. The process sometimes confuses us even though the startup ecosystem has the potentiality of improving and delivery public goods and services through designing innovations which are tailored to the needs, behaviors and experiences of target users. It has been usually noticed that government buyers faces challenges in product comparison and price discovery. Startups GeM has identified such issues including lengthy sales cycles, complex procurement processes and vague agency contacts and is trying to bridge the gap.
GeM introduced in 2019 the Startup Runway Outlet Store on its platform. The focus is to simplify the process for startups by exempting them from some significant aspects like prior turnover, experience and earnest money deposit requirements. The startups can simply list their innovative products with minimal technical specifications on the platform. GeM guarantees brand and intellectual property protection. It enables startups to exclusively showcase their offerings in the public procurement marketplace.
GeM CEO P K Singh highlighted their commitment to promoting “Make in India” products and services through their Startup Runway program. He said that the primary focus of the company is to maximize social inclusion extends to small businesses in scaling their operations.
GeM also provides the startups financial support through its mobile application. The initiative mainly empowers sellers and service providers. They can easily secure collateral-free loans at attractive interest rates. This facilitates fulfillment of purchase orders on the platform.
GeM organizes workshops and training sessions for the startups frequently and aligns them with opportunities in public procurement. It empowers the startups and also align with the government’s vision of promoting local innovation – “Vocal for Local” and “Make in India.”
