10 Important things to know about GeM Startup Runway
The Indian Government has launched a very lucrative platform for the growth of Indian startups, called Government e-Marketplace, more popularly known as GeM. This is indeed a very fair & transparent interface for empowering the small traders and manufacturers of India.
Today, a small trader or manufacturer can easily obtain a GeM registration in his business name. Thereafter, he can get access to the wide interface for selling the products & services to the prominent buyers from the Government sector or the PSUs, who urgently require such supplies.
The buying & selling of the supplies takes place through the process called Public procurement.
For the budding startups, the government has begun a new initiative on the GeM portal called GeM Startup Runway.
Here, we will learn in detail about the process of GeM startup runway.
1. What is the importance of GeM Startup Runway?
The government has run a very interactive platform for Startup aspirants on GeM. This is known as Startup Runway. The small traders and manufacturers can register themselves as startups on the Startup Runway and avail the growth opportiunities.
2. What is Startup Runway?
Startup Runway is a unique initiative of GeM for promoting entrepreneurship through innovation. It offers an opportunity to the agile and budding Startups to effectively reach out to the Government Buyers. It was launched on 19th February 2019 by the Union Ministry of Commerce & Industry.
Startup Runway enables them to offer products & services that are unique in-
- process, and
3. Who governs Startup Runway?
Startup Runway is powered and operated by DPIIT (Department for Promotion of Industry and Internal Trade) and is supported by GeM SPV.
4. How to register as a Startup on GeM?
In order to Register your Startup on GeM, the Startup must have the DIPP number, which is provided by the Department of Industrial Policy & Promotion.
DIPP number is mandatory for Startup registration as a Seller / Service Provider on GeM.
5. How to Register Products & Services on Startup Runway?
Here are the steps for registering your Products & Services on Startup Runway:
- Startups must first log in to GeM with their GeM login credentials.
- All Startups having a valid DIPP number will be able to see a #Startupindia blinking logo on the dashboard.
- Click on the #Startupindia logo. A form will be opened where you need to duly enter details of your Startup for further evaluation. This is shown below-
- Click Submit.
6. How will my Products & Services be verified?
Your products & services shall be screened by the competent committee as per the validity of the information you’ve provided. This process will hardly take 7 days.
7. How will my Products & Services be noticed by the buyers?
That’s quite easy! Upon Screening of your products & services, they will be directly notified to the buyers of relevant ministries or concerned departments. These Potential buyers may ask trials of your products & services.
8. How long will the product trial take?
The product trials continue for 15 days whereas service trials take 8 to 16 weeks.
9. Who will evaluate my products on GeM?
Upon the product trial, the govt. buyers shall provide their feedback regarding the product with respect to-
- The uniqueness of design, process, concept and
- Price reasonability
10. How will my products be listed on GeM?
For product listing on GeM, your products must have ratings of at least 3 buyers. Based on the evaluation of feedback of your innovative products from at least 3 buyers, your products will be listed for all the govt. buyers on GeM.
You can now seamlessly carry on trade on GeM.
If you need any kind of assistance on GeM registration, please feel free to contact our business advisors at 8881-069-069.
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