Pink is power in India’s startup revolution

New Delhi: DPIIT has recognized 1,40,803 entities as startups. Since the launch of Startup India initiative in 2016, the DPIIT- recognised startups have created over 15.53 lakh direct jobs as on 30thJune 2024. Further,67,499 DPIIT-recognised start-ups have atleast one-woman director as on 30thJune 2024.

The Government unveiled an Action Plan for Startups comprising of schemes and incentives envisaged to create a vibrant startup ecosystem in the country. The Action Plan comprises of 19 action items spanning across areas such as “Simplification and handholding”, “Funding support and incentives” and “Industry-academia partnership and in cubation”.

For attaining specific objectives of the Action Plan, various programs are implemented by the Government under the Startup India initiative to recognize, develop, promote, and empower the startup ecosystem. All the steps under taken by the Government under the said initiative are inclusive and are implemented across States/UTs.

The State/Union Territory (UT)-wise details of number of DPIIT recognised startups in the past two years viz. 2022 and 2023 are placed as given below:.

The State/UT- wise number of DPIIT recognized startups during the past two years viz. 2022 and 2023 are as under:

The Government, with the objective of building a strong ecosystem for nurturing innovation, start-ups and encouraging investments in the startup ecosystem of the country, launched the Startup India initiative on 16th January 2016.

As per eligibility conditions prescribed under G.S.R. notification 127 (E) dated19th February 2019, entities are recognized as ‘startups’ under the Startup India initiative by the Department for Promotion of Industry and Internal Trade (DPIIT).

An Action Plan for Startup India was unveiled that comprises of 19 action items spanning across areas such as “Simplification and handholding”, “Funding support and incentives” and “Industry-academia partnership and incubation”. The Action Plan laid the foundation of Government support, schemes and incentives envisaged t ocreate a vibrant startup ecosystem in the country.

Startup India: The Way Ahead at 5 years celebration of Startup India was unveiled on 16th January 2021 which includes actionable plans for promotion of ease of doing business for startups, greater role of technology in executing various reforms, building capacities of stakeholders and enabling a digital Aatmanirbhar Bharat.

Easy availability of capital is essential for entrepreneurs at the early stages of growth of an enterprise. The capital required at this stage often presents a make-or-break situation for startups with good business ideas.

The Government has established the Credit Guarantee Scheme for Startups for providing credit guarantees to loans extended to DPIIT recognized startups by Scheduled Commercial Banks, Non-Banking Financial Companies (NBFCs) and Venture Debt Funds (VDFs) under SEBI registered Alternative Investment Funds.

Over 55 regulatory reforms have been undertaken by the Government since 2016 to enhance ease of doing business, ease of raising capital and reduce compliance burden for the startup ecosystem.