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India is now home to more than 2 lakh government-recognised startups, marking a major milestone for the country’s entrepreneurial ecosystem, Union Commerce and Industry Minister Piyush Goyal has said.
According to the minister, over 44,000 startups were recognised during the current year alone, the highest number added in any single year since the launch of the Startup India initiative in 2016. Startups recognised under the programme are eligible for various benefits, including income tax exemptions and access to government-backed funding schemes.
Highlighting the growing inclusivity of the ecosystem, Goyal said nearly 48 per cent of the recognised startups have at least one woman director or partner. Collectively, these startups have generated more than 21 lakh direct jobs across the country.
The minister also outlined the scale of government-supported funding. Alternative Investment Funds under the Fund of Funds for Startups Scheme have invested over Rs 25,320 crore across more than 1,350 startups so far. In addition, Rs 775 crore has been extended under the Credit Guarantee Scheme for Startups.
Under the Startup India Seed Fund Scheme, incubators have approved over Rs 585 crore for more than 3,200 startup applications, Goyal said.
Innovation activity among startups has also gained momentum, with more than 16,400 patent applications filed by startups so far this year, reflecting increased focus on intellectual property creation, he added.
(Source: PTI)
