More Than 92,000 Entities Recognized As Startups Since Launch Of Startup India

New Delhi, April 6 (TNA) Since the launch of Startup India initiative in 2016, DPIIT has recognised 92,683 entities as startups as on February 28, 2023. This, an official informed, was in lines with the Government with an intent to build a strong ecosystem for nurturing innovation, startups and encouraging private investments in startup ecosystem of the country launched Startup India initiative on January 16, 2016.

The regular businesses are often measured by success or failure in a specific number of years of operation, whereas, the startups and scale-ups (established startups) are more accurately measured by failure or success in a particular phase making it difficult to put together a statistic covering all types of new businesses and their failure rate with any level of accuracy. Therefore, the information with respect to the success or failure of startups is not centrally maintained by the Government.

Startup India initiative was launched in January 2016 with an objective to build a strong eco-system for nurturing innovation and startups in the country that would drive sustainable economic growth and generate large scale employment opportunities.

Programs Implemented under Startup India initiative include Startup India Action Plan, Fund of Funds for Startups (FFS) Scheme, Credit Guarantee Scheme for Startups (CGSS), Regulatory Reforms, Ease of Procurement,

Support for Intellectual Property Protection, Self-Certification under Labour and Environmental laws, Income Tax Exemption for 3 years, International Market Access to Indian Startups, Faster Exit for Startups, Startup India Hub, Startup India Showcase among others.