Maharashtra, Karnataka, Delhi, Uttar Pradesh, and Gujarat have the largest number of startups
Recently, The Department for Promotion of Industry and Internal Trade (DPIIT) said that the government has recognized up to 50,000 startups, of which 19,896 have been recognized since April 1, 2020.
The government of India said that about 1.7 lakh jobs were created by recognized startups in 2020-21.
Internal Trade (DPIIT) with most of the 50,000 startups being in the food processing, product development, application development, IT consulting, and business support services sector, the commerce and industry ministry said in a statement.
Accordining to govenment statement, 743 startups were recognized in 2016-17, in the first year of the initiative, which has now increased exponentially to over 16,000 startups being recognized in 2020-21.
“The recognized startups have contributed significantly to job creation, with 5,49,842 jobs reported by 48,093 startups with an average number of 11 employees per startup,” the ministry said.
Statement said that Maharashtra, Karnataka, Delhi, Uttar Pradesh and Gujarat have the largest number of startups
DPIIT has implemented multiple programs like National Startup Awards, State Ranking Framework, Global VC Summit, Prarambh, and Startup India International Summit to nurture opportunities to engage with multiple partners, get recognized for their contribution, and showcase the work that is being done.
The department also added that funding opportunities to startups have been enhanced through the Fund of Funds Scheme with an overlay of INR 10,000 Cr and recently launched Startup India Seed Fund Scheme with an outlay of INR 945 Cr. The seed fund is expected to support about 3,600 startups and 300 incubators.
