471 Indian startups 6 years ago. Today, 72,993. A whopping 15,400% increase.

The number of startups in India grows to 72,993 in 2022 from 471 in 2016

The total number of recognized start-ups in India increased from 471 in 2016 to 72,993 on June 30, 2022, with the help of proactive government interventions, Minister of State for Trade and Industry Som Parkash said on Friday.

Startups and the entire technological ecosystem are the growth engines of any country.

Recognizing this, the government launched the Startup India initiative on January 16, 2016, with the intention of building a stronger ecosystem to nurture India’s start-up culture that would further drive our economic growth, support entrepreneurship and it would enable large-scale employment opportunities, the minister said in a written response to a question in the Rajya Sabha.

The Department for the Promotion of Industry and Internal Trade (DPIIT) has recognized startups that are distributed in 56 diversified sectors. More than 4,500 startups have been recognized in sectors related to emerging technologies such as the Internet of Things (IoT), robotics, artificial intelligence, analytics, etc.

The Department of Science and Technology (DST) launched an umbrella program called the National Innovation Harnessing and Development Initiative (NIDHI) in 2016 to nurture ideas and innovations (knowledge-based and technology-driven) into successful startups .

Under NIDHI, the different programs range from awarding scholarships to students opting for entrepreneurship.

Through the Entrepreneurs-In-Residence (EIR) program to promote and accelerate the Young and Aspiring Innovators and Startups (PRAYAS) program by providing financial support to turn ideas into prototypes, availability of early-stage Seed support for incubated companies.

This provides mentoring and support for investment readiness through Accelerators and the creation of Centers of Excellence (CoE) in incubation.

To promote innovations in the biotechnology sector, the Department of Biotechnology, through the Biotechnology Industry Research Assistance Council (BIRAC), supports and nurtures new companies in the Biotechnology sector.

The main schemes are the BioNEST (Bio Incubators Fostering Entrepreneurship for Scalable Technologies) scheme and the Biotech Ignition Grant (BIG) schemes.

To promote innovation and agri-entrepreneurship by providing financial support and nurturing the incubation ecosystem The Department of Agriculture and Farmers Welfare under the Rashtriya Krishi Vikas Yojana-Remunerative Approaches to Agriculture and Allied Sector Rejuvenation (RKVY-RAFTAAR) scheme has launched “Innovation and development of agro-entrepreneurs”. ” program, as a component.

Startups under the program are taking projects in various fields of agriculture and related sectors such as agricultural processing, food and value-added technology, artificial intelligence (AI), Internet of Things (IoT), information and communication technology ( ICT), block chain. Technology (BCT), precision agriculture and Digital agriculture, and Block Chain technology among others.

Innovations for Defense Excellence (iDEX) was launched by the Department of Defense Production, Ministry of Defense, to achieve self-sufficiency and encourage innovation and technological development in Defense and Aerospace by involving industries, R&D institutes and academia and provide them with grants to carry out outside R&D.

Startups receive up to Rs 1.5 crore as a grant for the development of innovative prototypes. They also receive tremendous support from iDEX incubator partners at IITs, IIMs and other private incubators spread across the country.

Under the Atal Innovation Mission, the Government has established Atal Incubation Centers (AIC) to incubate start-ups in various sectors.

It also launched the Atal New India Challenge (ANIC) program to directly assist start-ups with technology-based innovations that solve sectoral challenges of national importance and social relevance.

The Government has also launched 26 Centers of Excellence (CoE) in various areas of national interest to drive self-sufficiency and build capacity to capture new and emerging technology areas.

These domain-specific CoEs are being established across India with the participation of the Central Government, Software Technology Parks of India (STPI), state governments, industry corporations and venture capital firms. These CoEs act as important enablers to promote innovation in emerging technologies.


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