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

The Department for Promotion of Industry and Internal Trade (DPIIT) has recognised startups which are spread across 56 diversified sectors.

Published: 22nd July 2022 09:51 PM  |   Last Updated: 22nd July 2022 09:54 PM   |  A+A-

Startups

Image used for representational purposes (Express Illustrations)

By ANI

NEW DELHI: The total number of recognised startups in India rose from 471 in 2016 to 72,993 as on 30th June 2022, helped by proactive government interventions, Minister of State for Commerce and Industry Som Parkash said on Friday.

Startups and the entire technology ecosystem are the engines of growth for any country. Recognising this aspect, the Government launched Startup India initiative on 16th January 2016 with an aim to build a stronger ecosystem for nurturing India's startup culture that would further drive our economic growth, support entrepreneurship, and enable large-scale employment opportunities, the minister said in a written reply to a question in the Rajya Sabha.

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

Department of Science and Technology (DST) had launched an umbrella programme called National Initiative for Developing and Harnessing Innovations (NIDHI) in year 2016 for nurturing ideas and innovations (knowledge-based and technology-driven) into successful startups.

Under NIDHI, different programmes range from providing fellowships to the students opting for entrepreneurship through Entrepreneurs-In-Residence (EIR) programme, Promoting and Accelerating Young and Aspiring Innovators and Startups (PRAYAS) programme by providing financial support for converting ideas into prototypes, availability of early-stage Seed support to incubated ventures, providing mentoring and investment readiness support through Accelerators, and creating Centres of Excellence (CoE) in incubation.

To promote innovations in biotechnology sector, the Department of Biotechnology, through Biotechnology Industry Research Assistance Council (BIRAC), supports and nurtures startups in the Biotechnology sector. The major schemes are BioNEST Scheme (Bio incubators Nurturing Entrepreneurship for Scaling Technologies) and Biotechnology Ignition Grant (BIG) schemes.

In order to promote innovation and agripreneurship by providing financial support and nurturing the incubation ecosystem Department of Agriculture & Farmers Welfare under the Rashtriya Krishi Vikas Yojana- Remunerative Approaches for Agriculture and Allied Sector Rejuvenation (RKVY-RAFTAAR) scheme has launched "Innovation and Agri-entrepreneur development" programme, as a component.

Startups under the programme are taking up projects in various fields of agriculture and allied sectors like Agro-processing, Food Technology & Value Addition, Artificial Intelligence (AI), Internet of Things (IoT), Information & Communication Technology (ICT), Block Chain Technology (BCT), precision farming and Digital agriculture, and Block Chain technology among others.

The Innovations for Defence Excellence (iDEX) was launched by the Department of Defense Production, Ministry of Defense, with the aim to achieve self-reliance and foster innovation and technology development in Defense and Aerospace by engaging Industries, R&D institutes and academia and provide them grants to carry out R&D.

The startups receive upto Rs 1.50 crore as grant for development of innovative prototypes. They also receive enormous support from iDEX's partner Incubators at IITs, IIMs and other private incubators spread all over the country.

Under the Atal Innovation Mission, the Government has set up Atal Incubation Centres (AIC) to incubate startups in various sectors. It has also launched Atal New India Challenge (ANIC) program to directly aid startups with technology-based innovations that solve sectoral challenges of national importance and societal relevance.

The Government has also operationalized 26 Centres of Excellence (CoEs) in diverse areas of national interest for driving self-sufficiency and creating capabilities to capture new and emerging technology areas.

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



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp