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India’s start-up ecosystem has reached a significant milestone with over 1.4 lakh registered start-ups across the country, as highlighted by Union Minister of State for Commerce and Industry, Jitin Prasada, in the Rajya Sabha on Friday. The Department for Promotion of Industry and Internal Trade (DPIIT) recognized start-ups data shows Maharashtra leading with a total of 25,044 registered start-ups.
Following Maharashtra, Karnataka holds the second position with 15,019 start-ups, while Delhi is third with 14,734. Uttar Pradesh has climbed to the fourth spot with 13,299 start-ups, surpassing Gujarat, which now ranks fifth with 11,436 start-ups.
The government’s efforts to foster a robust start-up ecosystem include the Startup India initiative launched on January 16, 2016. This initiative aims to build a supportive environment for innovation and investment through various schemes and incentives. The ‘Startup India Action Plan’ features 19 action items focused on simplification, funding support, and industry-academia partnerships. Additionally, the ‘Startup India: The Way Ahead’ plan emphasizes ease of doing business, technological reforms, and capacity building.
To further support start-ups, the government has established a Fund of Funds for Startups (FFS) with a ₹10,000 crore corpus. Managed by DPIIT and operated by the Small Industries Development Bank of India (SIDBI), this fund is designed to meet the funding needs of start-ups across different stages. The initiative aims to reduce reliance on foreign capital and encourage domestic venture capital funds.
Sources By Agencies
