Nectar Festival of Freedom: India is going to celebrate 75th anniversary of independence. The Department for Promotion of Industry and Internal Trade has registered more than 75,000 startups. This is proving to be a milestone in itself.
National Startup Day
PM during Independence Day speech from Red Fort on August 15, 2015 Narendra Modi had envisioned a new India, based on the entrepreneurial potential of its people. In 2016, on January 16, the foundation of an action plan was laid in the country, in which a strong ecosystem was to be created to give impetus to innovation and startups. January 16 is celebrated as National Startup Day.
80 startups started every day
After 6 years from the year 2016, in 2022, India has been able to make the world’s third largest ecosystem. 10 thousand startups were identified in the initial phase in 808 days. At the same time, the latest 10,000 startups have been achieved in just 156 days. With more than 80 startups getting recognized every day, India has become a country known for startups at a high rate in the world.
Most startups in the IT industry
Of the total recognized startups, about 12% are in IT services, 9% in healthcare and life sciences, 7% in education, 5% in commercial and commercial services, and 5% are engaged in agricultural work. So far 7.46 lakh jobs have been created by the Indian startup ecosystem, which is an annual growth of 110% in the last 6 years. The fact that today almost 49% of our startups are from Tier II and Tier III.
startup ecosystem launch
The Indian Startup Ecosystem has grown into a launch pad for all the new entrepreneurs and innovators across the country. It has helped startups in addition to providing money, tax incentives, supporting intellectual property rights, public procurement, enabling regulatory reforms, access to international festivals and events. is of.
Startup India Seed Fund Scheme
A Startup India Seed Fund Scheme was implemented by the Government of India from 1 April 2021. It provides financial assistance to eligible department for start-ups recognized by DPIIT. It helps startup. Along with this, they have been able to raise investment from capitalists or take loans from commercial banks or financial institutions. SISFS has been distributed to eligible startups through eligible incubators across India.