DPIIT Recognizes 50,000 New Startups Creating about 1.7 lakh Jobs
The total number of startups have now spread across 623 districts with each state and UT having at least one startup. 30 States and UTs have also announced specific Startup Policies to support young enterprises. Maharashtra, Karnataka, Delhi, Uttar Pradesh and Gujarat contribute the greatest number of startups.
it is commendable to note that about 10,000 startups were added within 180 days as compared to 808 days for the first 10,000 at the beginning of the initiative in 2016. 743 startups were recognized in 2016-2017, in the first year of the initiative, which has now increased to over 16,000 startups being recognized in the year 2020-2021, DPIIT sources said.
Entrepreneurs can now avail benefits across a range of laws, regulations, fiscal and infrastructural support, leading to a surge in start-up ecosystem growth
Entrepreneurs can now avail benefits across a range of laws, regulations, fiscal and infrastructural support, leading to a surge in start-up ecosystem growth.
These recognized start-ups have contributed significantly to job creation, with 5,49,842 jobs created by 48,093 startups with an average number of 11 employees per startup. About 1.7 lakh jobs were created in total by recognized startups in the 2020-2021 period alone.
The maximum registered start-ups belonged to ‘Food Processing’, ‘Product Development’, ‘Application Development’, ‘IT Consulting’ and ‘Business Support Services’ sectors. The leadership teams of 45 percent start-ups have a women entrepreneur, a trend which will inspire more women entrepreneurs to turn their ideas into start-ups.
Startup India at DPIIT has played a pivotal role in strengthening the key pillars identified for India’s thriving startup economy. Funding opportunities for startups have grown through the Fund of Funds Scheme with an overlay of INR 10,000 crore and the recently launched Startup India Seed Fund Scheme (SISFS) with an outlay of INR 945 crores.
Multiple programs have been launched and implemented by DPII -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.
DPIIT will continue to engage with multiple stakeholders to address the growth opportunities and challenges in the ecosystem, helping the Indian start-up ecosystem reach greater heights.