The Business Bytes
TBB BUREAU
NEW DELHI, JUNE 3, 2021
As many as 50,000 startups have been recognised by the Department for Promotion of Industry and Internal Trade (DPIIT) till date, an official statement said today.
Startup India is a flagship initiative of the government launched on January 16, 2016. The initiative is intended to catalyse a startup culture and build a strong and inclusive ecosystem for innovation and entrepreneurship in India.
The recognised startups are eligible to avail the benefits across a range of laws, regulations, fiscal and infrastructural support.
“As on June 3, 2021, 50,000 startups across have been recognised as startups by DPIIT, of which 19,896 have been recognised since April 1, 2020,” the commerce and industry ministry said.
With the launch of the Startup India initiative, recognised startups have now spread across 623 districts, it said, adding each state and Union Territory has at least one startup, and 30 states and UTs have announced specific startup policies to support them.
Maharashtra, Karnataka, Delhi, Uttar Pradesh and Gujarat have the largest number of these entrepreneurs.
“The recognised startups have contributed significantly to job creation, with 5,49,842 jobs reported by 48,093 startups with an average number of 11 employees per startup. About 1.7 lakh jobs were created by recognised startups in the 2020-2021 period alone,” it added.
The sectors that had the maximum registered startups were ‘Food Processing’, ‘Product Development’, ‘Application Development’, ‘IT Consulting’ and ‘Business Support Services’. The leadership teams of 45% startups have a women entrepreneur, a trend which will inspire more women entrepreneurs to turn their ideas into startups.
Startup India at DPIIT has played a pivotal role in strengthening the key pillars identified for the startup economy. Funding opportunities to startups have been enhanced through the Fund of Funds Scheme with an overlay of Rs. 10,000 crore and the recently launched Startup India Seed Fund Scheme (SISFS) with an outlay of Rs. 945 crore.
Multiple programs conceived and implemented by DPIIT – National Startup Awards, State Ranking Framework, Global VC Summit, Prarambh: Startup India International Summit – have provided the ecosystem an opportunity to engage with multiple partners, get recognized for their contribution and showcase the work that is being done.
