India Achieves Milestone with 157,066 Recognized Startups, 73,000 Featuring at Least One Woman Director: Government
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New Delhi, Dec 25 (NationPress) As of now, a total of 157,066 startups have received recognition from the Department for Promotion of Industry and Internal Trade (DPIIT), with 759,303 users registered on the platform (as of December 25), the government announced on Wednesday.
The nation boasts over 73,000 startups that feature at least one female director, all acknowledged under the ‘Startup India Initiative’, which constitutes nearly half of the 1,57,066 startups backed by the government, as stated by the Ministry of Commerce and Industry.
India has positioned itself as one of the most dynamic startup ecosystems in the world, now recognized as the third-largest startup hub. With more than 100 unicorns, the Indian startup environment is pivotal in shaping the future of innovation and entrepreneurship.
“In the past decade, the entrepreneurial landscape in India has experienced a significant transformation. Cities like Bengaluru, Hyderabad, Mumbai, and Delhi-NCR have emerged as hotspots of innovation,” remarked the ministry.
This year, 13 modern companies initiated their initial public offerings (IPOs), with startups collectively raising over Rs 29,200 crore from the stock market. Out of this, the fresh issue accounted for nearly Rs 14,672 crore and Rs 14,574 crore for Offer for Sale (OFS). Among the 13 startup IPOs, 10 were mainboard and 3 were SME IPOs.
The rapid expansion of affordable internet access, along with a vibrant and youthful workforce, has propelled the rise of startups across various sectors, including fintech, edtech, health-tech, and e-commerce.
As indicated in the ‘Indian Startup Ecosystem Report’ by Startup India, Indian startups have harnessed cutting-edge technologies such as artificial intelligence (AI), blockchain, and IoT to address both local and global challenges.
The flagship Startup India initiative, launched in 2016, has played a crucial role in this transformation.
Furthermore, programs like the Atal Innovation Mission (AIM) and the National Initiative for Developing and Harnessing Innovations (NIDHI) provide essential infrastructure and financial backing to innovators.
Additionally, the Startup Accelerator of MeitY for Product Innovation, Development, and Growth (SAMRIDH) scheme aims to assist 300 software product startups over four years with a budget of Rs 99 crore, offering funding of up to Rs 40 lakh per startup through accelerators to help scale their businesses.
