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Registered Startups in India
Context
The number of startups in India has increased to more than 1.4 lakh.
Key-highlights
- The number of Department for Promotion of Industry and Internal Trade (DPIIT) recognized startups State/UT-wise has shown that Maharashtra tops the list with 25,044 registered startups.
- Karnataka is second with 15,019 registered startups, followed by Delhi with 14,734 startups. Uttar Pradesh has secured the fourth place with 13,299 startups, while Gujarat is in fifth place with 11,436 startups.
- Responsible factors for growth: Increased internet penetration, digitization, and government initiatives
- Various new sectors such as DeepTech, SpaceTech, Artificial Intelligence, and EVs have broadened the Indian startup landscape.
Government initiatives for Start-ups
- Startup India initiative: The Government launched the scheme with the objective of building a strong ecosystem for nurturing innovation, startups, and encouraging investments in the startup ecosystem of the country.
- ‘Startup India: The Way Ahead’: It includes actionable plans for the promotion of ease of doing business for startups, a greater role of technology in executing various reforms, building capacities of stakeholders, and enabling a digital Aatmanirbhar Bharat.
- Fund of Funds for Startups (FFS): The Government has also established a Fund of Funds for Startups (FFS) with a corpus of Rs 10,000 crore to meet the funding needs of startups.
- DPIIT is the monitoring agency and Small Industries Development Bank of India (SIDBI) is the operating agency for FFS.
- National Initiative for Developing and Harnessing Innovations (NIDHI): The government launched the programme in 2016 to drive innovation, support startups and create a thriving entrepreneurial ecosystem in India.
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