Why in News?

• Launched on 19th February 2019, “StartUp Runway” is a unique concept initiated by GeM
  to promote entrepreneurship through innovation.
• This program is an opportunity for Startups to reach out to the Government Buyers by offering products and services that are unique in concept, design, process and functionality.

Highlights:

• DPIIT (Department for Promotion of Industry and Internal Trade) certified Startups are invited to offer their products/services for procurement on GeM.
• It seeks to support technology development, research and innovation by ensuring a conducive policy environment for industrial diversification and value addition to commodities.
• It aligns with Government’s philosophy to turn Job-seekers into job-creators.

SWAYATT Initiative:

• It is an initiative to promote Start-ups, Women and Youth Advantage Through eTransactions on Government e Marketplace (GeM).
• This will bring together the key stakeholders within the Indian entrepreneurial ecosystem to Government e-Marketplace the national procurement portal.

Government e-Marketplace:

• GeM is a one stop portal to facilitate online procurement of common use Goods & Services required by various Government Departments / Organizations / PSUs.
• GeM aims to enhance transparency, efficiency and speed in public procurement.
• It provides the tools of e-bidding, reverse e-auction and demand aggregation to facilitate the government users achieve the best value for their money.
• The purchases through GeM by Government users have been authorized and made mandatory by Ministry of Finance by adding a new Rule No. 149 in the General Financial Rules, 2017.