.jpg "Over 1.4 lakh startups recognized in India; 67,499 have women directors")
New Delhi: India's startup ecosystem continues to thrive, with a significant milestone of over 1.4 lakh entities recognized as startups by the Department for Promotion of Industry and Internal Trade (DPIIT) as of June 30, 2024. Among these, an encouraging 67,499 startups have at least one woman director, underscoring the growing role of women in entrepreneurship.
According to the Ministry of Steel, the government's efforts, spearheaded by the Startup India initiative launched in 2016, have been instrumental in fostering innovation and creating a robust startup ecosystem across the country. The initiative has led to the creation of more than 15.53 lakh direct jobs as of June 30.
Over the past two years, the number of DPIIT-recognized startups has surged across various states and union territories (UTs).
To build a robust ecosystem for fostering innovation, startups, and investment in India's startup ecosystem, the Government launched the Startup India initiative on January 16, 2016. Under the eligibility criteria outlined in the G.S.R. notification 127 (E) dated February 19, 2019, the Department for Promotion of Industry and Internal Trade (DPIIT) recognizes entities as 'startups' within this initiative. Here are details of various government programs to promote startups nationwide:
Startup India Action Plan, unveiled on January 16, 2016, this plan includes 19 action items covering areas like "Simplification and handholding," "Funding support and incentives," and "Industry-academia partnership and incubation." The plan established the foundation for government support, schemes, and incentives aimed at creating a vibrant startup ecosystem in India.
Startup India: The Way Ahead, launched on January 16, 2021, during the 5-year celebration of Startup India, this plan focuses on enhancing ease of doing business for startups, increasing technology's role in executing reforms, building stakeholders' capacities, and enabling a digital Aatmanirbhar Bharat.
Startup India Seed Fund Scheme (SISFS), recognizing the critical need for capital at the early stages of a startup, this scheme provides financial assistance for proof of concept, prototype development, product trials, market entry, and commercialization. A budget of Rs 945 crore has been sanctioned under the SISFS Scheme for four years starting from 2021-22.
The Government established Fund of Funds for Startups (FFS) Scheme with a corpus of Rs. 10,000 crore to address startups' funding needs. DPIIT monitors the scheme, while the Small Industries Development Bank of India (SIDBI) operates it. The fund has supported startups at early, seed, and growth stages, catalyzing the raising of domestic capital, reducing dependence on foreign funds, and encouraging new venture capital funds.
Credit Guarantee Scheme for Startups (CGSS) provides credit guarantees for loans extended to DPIIT-recognized startups by Scheduled Commercial Banks, Non-Banking Financial Companies (NBFCs), and Venture Debt Funds (VDFs) under SEBI-registered Alternative Investment Funds. The scheme aims to offer credit guarantees up to a specified limit against loans given by Member Institutions to eligible DPIIT-recognized startups.
Since 2016, the Government has implemented over 55 regulatory reforms to enhance ease of doing business, ease of raising capital, and reduce compliance burdens for the startup ecosystem.
Central Ministries/Departments are directed to relax prior turnover and experience conditions in public procurement for all DPIIT-recognized startups, provided they meet quality and technical specifications. Additionally, Government e-Marketplace (GeM) promotes procurement from startups.
Startups are allowed to self-certify their compliance under nine Labour and three Environment laws for a period of 3 to 5 years from incorporation.
Startups incorporated on or after April 1, 2016, can apply for an income tax exemption. Recognized startups granted an Inter-Ministerial Board Certificate are exempt from income tax for three consecutive years out of the first ten years since incorporation.
The Government has classified startups as 'fast track firms,' enabling them to wind up operations within 90 days compared to 180 days for other companies.
DPIIT-recognized startups are eligible for exemption from provisions under Section 56(2)(viib) of the Income Tax Act, effective from 2019.
Startups can benefit from fast-tracked patent application examinations and disposal. The Government's Start-ups Intellectual Property Protection (SIPP) initiative allows startups to file patent, design, and trademark applications through registered facilitators by paying only statutory fees. The Government covers facilitators' fees, and startups receive an 80 per cent rebate on patent filings and a 50 per cent rebate on trademark filings compared to other companies.
Launched on June 19, 2017, this online platform connects all stakeholders of India's entrepreneurial ecosystem, including startups, investors, mentors, academic institutions, and government bodies.
A key objective of the Startup India initiative is to connect India's startup ecosystem with global ecosystems. This is achieved through international Government-to-Government partnerships, participation in global forums, and hosting international events. Startup India has established bridges with around 20 countries to promote cross-collaboration and provide a soft-landing platform for startups from partner nations.
This online platform highlights the most promising startups in India, chosen through various programs and displayed as virtual profiles. These startups, known for their innovative solutions in sectors like Fintech, HealthTech, and EdTech, have emerged as leaders in their respective fields.
Constituted in January 2020, this council advises the Government on building a strong ecosystem for innovation and startups to drive sustainable economic growth and generate large-scale employment opportunities.
The National Startup Awards recognize outstanding startups and ecosystem enablers that develop innovative products, scalable enterprises, and solutions with high potential for employment generation or wealth creation, and measurable social impact. Finalists receive handholding support across various tracks, including investor and corporate connect, mentorship, regulatory support, and more.
This unique initiative encourages competitive federalism and fosters a flourishing startup ecosystem by facilitating states to learn and replicate good practices and by highlighting state policy interventions.
This weekly one-hour program on Doordarshan features award-winning or nationally recognized startups, showcasing their success stories.
Held around National Startup Day on January 16, this week-long event brings together startups, entrepreneurs, investors, and other stakeholders to celebrate entrepreneurship and promote innovation.
Under the ASCEND initiative, sensitization workshops on startups and entrepreneurship are conducted across the North Eastern States to build capacity and knowledge on entrepreneurship and support a robust startup ecosystem in the region.
Developed in collaboration with SIDBI, Startup India Investor Connect Portal connects startups with investors, enabling early-stage startups across the country to showcase themselves to leading venture capital funds.
The Mentorship, Advisory, Assistance, Resilience, and Growth (MAARG) program under the Startup India Initiative facilitates access to mentorship for startups nationwide.
MeitY Start-up Hub (MSH), established under the Ministry of Electronics & Information Technology (MeitY), this nodal entity connects India's deep tech startup infrastructure, supporting startups and incubators in scaling and market outreach.
TIDE 2.0 Scheme, Launched in 2019, the Technology Incubation and Development of Entrepreneurs (TIDE 2.0) Scheme promotes tech entrepreneurship through financial and technical support to incubators, focusing on emerging technologies like IoT, AI, and Blockchain.
MeitY has operationalized these centers in various areas of national interest to drive self-sufficiency and innovation in emerging technologies.
Biotechnology Industry Research Assistance Council (BIRAC) under the Department of Biotechnology supports biotech startups across various sectors, including clean energy and emerging technologies, through project-based funding and incubation support.
Launched by MeitY, this program supports existing and upcoming accelerators to select and accelerate potential software product-based startups.
Approved to support the software product ecosystem, this scheme addresses key areas outlined in the National Policy on Software Products (NPSP) 2019.
This scheme encourages Indian MSMEs and startups to file international patents by providing support for innovation and recognizing global IP capabilities.
Organized by the Ministry of Skill Development and Entrepreneurship, this summit offers a platform for startups and aspiring entrepreneurs in the North-East Region to pitch their ideas, learn from best practices, and network with industry mentors.
A flagship initiative by NITI Aayog, AIM promotes innovation and entrepreneurship across India, including the establishment of Atal Tinkering Labs to foster creativity and computational thinking in young minds.
Launched by the Department of Science and Technology (DST) in 2016, this program nurtures ideas and technology-driven innovations into successful startups.
Launched by the Department of Defense Production, Ministry of Defense, iDEX fosters innovation and technology development in the defense and aerospace sectors by engaging startups, MSMEs, R&D institutes, and academia.
Union Minister of State for Commerce and Industry, Jitin Prasada, highlighted these achievements in a written reply in the Rajya Sabha Friday, emphasizing the government's ongoing commitment to building a strong and inclusive startup ecosystem across India.
Libra
Ganesha says today will be a very auspicious and positive day. You will get a chance to clarify your thoughts, which will bring stability to your personal and professional relationships. Your communication skills will increase, and this will open the doors of new possibilities for you. Your creativity and aesthetic sense will be especially strong today. If you are associated with any art or design, your work will be appreciated. This is the right time to express your feelings. If you are confused about a decision, trust your intuition; it will show you the right path. In terms of health, small changes can make your life better. Focus on regular exercise and a balanced diet. In love and relationships, a new understanding will develop, which will strengthen the mutual bond even more. Overall, this day is a sign of positive changes and new beginnings for you. Stay focused on your goals and recognize your inner strengths.
Virgo
Ganesha says today is a suitable day to highlight your cognitive abilities and business skills. Today, you will be full of clarity and precision in your actions, which will increase your value among your colleagues and superiors. There is a possibility of bringing some changes to your routine, which will bring positive results for you. This is a good time to improve relations with family members. Try to resolve any old disputes, and keep communication open. In terms of health, meditation and yoga will bring mental peace. Also, take some time out of your routine for exercise. From a financial point of view, this is the right time to make a good plan for the right investment. Take a good look at the options available to you and make a wise decision. Overall, today will prove to be a day of new possibilities and positive changes for you. Be full of confidence and stay focused on your goals.
Leo
Ganesha says today will be a day full of energy and inspiration. Your confidence will increase and your thoughts will come out with clarity. On this day, you will be able to see some new possibilities in your career, which will bring you hard work. Mutual understanding and harmony will increase your relationship, which will create a happy atmosphere among the family. This is a great time to express your thoughts clearly, so do not hesitate to communicate with your partner or friends. It is important to be health conscious, a little exercise and meditation will maintain your mental and physical health. Overall, this day will bring activity and positivity for you, so make the most of all the opportunities!
Cancer
Ganesha says it will be a day of information and communication for you. Your mind will be full of ideas and you will be able to express your ideas well. There is a possibility of some new opportunities in professional life, which can prove beneficial for you. It is a good time to strengthen relationships with your colleagues, so work together at the workplace. Your emotional state will also be strong. Time spent with family will give you satisfaction. If you have any old problem going on, then the right time is coming to solve it. However, you need to keep your emotions under control, so that you do not get agitated over small things. In terms of health, try to practice yoga and meditation. It will empower you both mentally and physically. Take informed decisions in financial matters; do not rush into any investments. In summary, this day will be all about communication and cooperation, which will lead to positive changes for you.
Gemini
Ganesha says there will be a new energy and freshness in your thoughts, which will make your personality even more attractive. Social contacts are likely to increase, which will expand your network. You will be inspired to spend blissful time with your friends and family. Some positive changes can also be seen in the business sector. The results of your hard work will gradually start coming, and this will motivate you to move forward. Keep in mind that while sharing your ideology, work with empathy, this will strengthen your relationship with colleagues. It is important to be health conscious. A little attention and relaxation will give you mental freshness. Practicing yoga or meditation will be beneficial for you. This day will be full of positivity and new possibilities for you. Express your mind openly and do not hesitate to adopt new ideas.
Taurus
Ganesha says it will prove to be a positive day for you, Taurus. You will feel energetic and full of confidence. The time has come to reap the fruits of your hard work and efforts. The workload may stress you for a while, but you will face all the challenges recognizing your strengths. Sweetness will also remain in your relationships. Spending time with your family and friends will be a source of joy for you. Conversation with someone special can give you a new vision and promote mutual understanding. A special occasion may be organized among friends or family, which will bring happiness and harmony to you. Moments spent with loved ones will give you mental peace. It is important to be health conscious. A little exercise or yoga will give peace to your mind and energy to your body. Your day will be full of happiness and positivity, just keep your thoughts and emotions balanced.
Aries
Ganesha says it will be an important day for you, Aries. Your energy and confidence are ready to take you to new heights. Today you will be able to express your thoughts with clarity, which will increase your communication skills. New opportunities may arise in the working areas, which you have to be ready to take advantage of. In social life, you can make new meetings, which will prove beneficial for you in the future. This day will be good for solving family issues, and you will be able to establish better relations with your close ones. In the field of health, take care of your routine and resort to yoga or meditation to relieve mental stress. Controlling your expenses will be a smart move, as any sudden financial need may arise. Overall, this day is for you to stay positive, just use your insight and energy properly.
Pisces
Ganesha says it is going to be a positive day for you. Your sensitivity and intuition will flourish today, allowing you to establish better connections between yourself and others. It is time to connect with someone or refresh old memories. Try to communicate with people close to you, as it will strengthen your relationships. In the field of work, your creativity will be cyclical today. If you are working on a project, your ideas will be new and full of innovation. Do not be afraid to share your ideas, it will give you positive feedback from your colleagues. In terms of financial condition, avoid any big investments. Small expenses will prove to be justified but think well before making any big decisions for the long term. In terms of health, focus on a balanced diet and regular exercise. For mental health, practicing meditation or yoga will help keep you stress-free.
Aquarius
Ganesha says new opportunities are likely to open up for you. You will be in a position to take your creative abilities to new heights. This is the time to share your ideas and make new plans. Your friends and family will support your ideas, so it will be beneficial to take their advice into account. Positive changes are possible in business. This is the right time to work on an important project. You will get an opportunity to use your skills and knowledge properly. But, be careful; in some cases, you will need to control your emotions. In personal life, relationships will deepen. You will try to spend more time with your loved ones. This is a good time for love and companionship. Enjoy emotional moments that will make your relationships stronger. Be health conscious. Dedication to yoga and meditation will give you mental peace. These activities will keep not only your body but also your mind active. Overall, today will be full of possibilities for you. Stay committed to your dreams and work on them.
Capricorn
Ganesha says your day is full of some new possibilities. You will experience grace and stability in your actions. This is the time to focus on your goals and work with determination to pursue your plans. You are likely to get success in your work, especially if you maintain your hard work and dedication. Positive changes can also be seen in your relationships. You will get a chance to spend time with family and listen to them, which will increase mutual understanding and depth. Focus on communication, as it will make your relationships stronger. However, it is also time to make monthly plans. Take care of your financial matters and try to save. This is the time when you can take concrete steps for your future. Your health condition is likely to remain normal but take some rest. Maintaining a mental balance will be important for you. Stay positive and keep faith in your actions!
Sagittarius
Ganesha says today will be full of new possibilities and positive energy for you. You will feel a rise in your confidence, which will keep you open to new opportunities. This is the right time to make an important decision. Your spirituality and intuition will be strong, which will enable you to understand and face difficulties. Spending time with friends and family will awaken a sense of happiness and satisfaction in your mind. Relationships with colleagues at work can take a new direction. Cooperation and communication will help solve problems. If you face an obstacle or challenge, remember that you can overcome it. In terms of health, you may need to make a little improvement in your routine. Regular exercise and a balanced diet will give you freshness and energy. Strengthening social relationships and contacting new people will also be beneficial today. This is the time for self-growth and positive change for you, so recognize the energy within you and use it properly.
Scorpio
Ganesha says today will be full of enthusiasm and energy. You will move towards achieving your goals, and your hard work will pay off. Social life will also be active; you will get a good chance to spend time with friends and family. In terms of health, take a little caution. Focusing on meditation and exercise will help reduce mental stress. This is also a good time to take up a new hobby, which can unleash your creativity. Take wise steps in terms of money. Make informed decisions while investing. For potential financial gains, take a look at past projects again. Your career is showing good signs of progress. Your ideas may be appreciated at the workplace, which will increase your confidence. Still, some issues may require restraint. Overall, today will prove to be positive and auspicious for you. Spend it with pride with your loved ones.
Libra
Ganesha says today will be a very auspicious and positive day. You will get a chance to clarify your thoughts, which will bring stability to your personal and professional relationships. Your communication skills will increase, and this will open the doors of new possibilities for you. Your creativity and aesthetic sense will be especially strong today. If you are associated with any art or design, your work will be appreciated. This is the right time to express your feelings. If you are confused about a decision, trust your intuition; it will show you the right path. In terms of health, small changes can make your life better. Focus on regular exercise and a balanced diet. In love and relationships, a new understanding will develop, which will strengthen the mutual bond even more. Overall, this day is a sign of positive changes and new beginnings for you. Stay focused on your goals and recognize your inner strengths.
Virgo
Ganesha says today is a suitable day to highlight your cognitive abilities and business skills. Today, you will be full of clarity and precision in your actions, which will increase your value among your colleagues and superiors. There is a possibility of bringing some changes to your routine, which will bring positive results for you. This is a good time to improve relations with family members. Try to resolve any old disputes, and keep communication open. In terms of health, meditation and yoga will bring mental peace. Also, take some time out of your routine for exercise. From a financial point of view, this is the right time to make a good plan for the right investment. Take a good look at the options available to you and make a wise decision. Overall, today will prove to be a day of new possibilities and positive changes for you. Be full of confidence and stay focused on your goals.
Leo
Ganesha says today will be a day full of energy and inspiration. Your confidence will increase and your thoughts will come out with clarity. On this day, you will be able to see some new possibilities in your career, which will bring you hard work. Mutual understanding and harmony will increase your relationship, which will create a happy atmosphere among the family. This is a great time to express your thoughts clearly, so do not hesitate to communicate with your partner or friends. It is important to be health conscious, a little exercise and meditation will maintain your mental and physical health. Overall, this day will bring activity and positivity for you, so make the most of all the opportunities!
Cancer
Ganesha says it will be a day of information and communication for you. Your mind will be full of ideas and you will be able to express your ideas well. There is a possibility of some new opportunities in professional life, which can prove beneficial for you. It is a good time to strengthen relationships with your colleagues, so work together at the workplace. Your emotional state will also be strong. Time spent with family will give you satisfaction. If you have any old problem going on, then the right time is coming to solve it. However, you need to keep your emotions under control, so that you do not get agitated over small things. In terms of health, try to practice yoga and meditation. It will empower you both mentally and physically. Take informed decisions in financial matters; do not rush into any investments. In summary, this day will be all about communication and cooperation, which will lead to positive changes for you.
Gemini
Ganesha says there will be a new energy and freshness in your thoughts, which will make your personality even more attractive. Social contacts are likely to increase, which will expand your network. You will be inspired to spend blissful time with your friends and family. Some positive changes can also be seen in the business sector. The results of your hard work will gradually start coming, and this will motivate you to move forward. Keep in mind that while sharing your ideology, work with empathy, this will strengthen your relationship with colleagues. It is important to be health conscious. A little attention and relaxation will give you mental freshness. Practicing yoga or meditation will be beneficial for you. This day will be full of positivity and new possibilities for you. Express your mind openly and do not hesitate to adopt new ideas.
Taurus
Ganesha says it will prove to be a positive day for you, Taurus. You will feel energetic and full of confidence. The time has come to reap the fruits of your hard work and efforts. The workload may stress you for a while, but you will face all the challenges recognizing your strengths. Sweetness will also remain in your relationships. Spending time with your family and friends will be a source of joy for you. Conversation with someone special can give you a new vision and promote mutual understanding. A special occasion may be organized among friends or family, which will bring happiness and harmony to you. Moments spent with loved ones will give you mental peace. It is important to be health conscious. A little exercise or yoga will give peace to your mind and energy to your body. Your day will be full of happiness and positivity, just keep your thoughts and emotions balanced.
Aries
Ganesha says it will be an important day for you, Aries. Your energy and confidence are ready to take you to new heights. Today you will be able to express your thoughts with clarity, which will increase your communication skills. New opportunities may arise in the working areas, which you have to be ready to take advantage of. In social life, you can make new meetings, which will prove beneficial for you in the future. This day will be good for solving family issues, and you will be able to establish better relations with your close ones. In the field of health, take care of your routine and resort to yoga or meditation to relieve mental stress. Controlling your expenses will be a smart move, as any sudden financial need may arise. Overall, this day is for you to stay positive, just use your insight and energy properly.
Pisces
Ganesha says it is going to be a positive day for you. Your sensitivity and intuition will flourish today, allowing you to establish better connections between yourself and others. It is time to connect with someone or refresh old memories. Try to communicate with people close to you, as it will strengthen your relationships. In the field of work, your creativity will be cyclical today. If you are working on a project, your ideas will be new and full of innovation. Do not be afraid to share your ideas, it will give you positive feedback from your colleagues. In terms of financial condition, avoid any big investments. Small expenses will prove to be justified but think well before making any big decisions for the long term. In terms of health, focus on a balanced diet and regular exercise. For mental health, practicing meditation or yoga will help keep you stress-free.
Aquarius
Ganesha says new opportunities are likely to open up for you. You will be in a position to take your creative abilities to new heights. This is the time to share your ideas and make new plans. Your friends and family will support your ideas, so it will be beneficial to take their advice into account. Positive changes are possible in business. This is the right time to work on an important project. You will get an opportunity to use your skills and knowledge properly. But, be careful; in some cases, you will need to control your emotions. In personal life, relationships will deepen. You will try to spend more time with your loved ones. This is a good time for love and companionship. Enjoy emotional moments that will make your relationships stronger. Be health conscious. Dedication to yoga and meditation will give you mental peace. These activities will keep not only your body but also your mind active. Overall, today will be full of possibilities for you. Stay committed to your dreams and work on them.
Capricorn
Ganesha says your day is full of some new possibilities. You will experience grace and stability in your actions. This is the time to focus on your goals and work with determination to pursue your plans. You are likely to get success in your work, especially if you maintain your hard work and dedication. Positive changes can also be seen in your relationships. You will get a chance to spend time with family and listen to them, which will increase mutual understanding and depth. Focus on communication, as it will make your relationships stronger. However, it is also time to make monthly plans. Take care of your financial matters and try to save. This is the time when you can take concrete steps for your future. Your health condition is likely to remain normal but take some rest. Maintaining a mental balance will be important for you. Stay positive and keep faith in your actions!
Sagittarius
Ganesha says today will be full of new possibilities and positive energy for you. You will feel a rise in your confidence, which will keep you open to new opportunities. This is the right time to make an important decision. Your spirituality and intuition will be strong, which will enable you to understand and face difficulties. Spending time with friends and family will awaken a sense of happiness and satisfaction in your mind. Relationships with colleagues at work can take a new direction. Cooperation and communication will help solve problems. If you face an obstacle or challenge, remember that you can overcome it. In terms of health, you may need to make a little improvement in your routine. Regular exercise and a balanced diet will give you freshness and energy. Strengthening social relationships and contacting new people will also be beneficial today. This is the time for self-growth and positive change for you, so recognize the energy within you and use it properly.
Scorpio
Ganesha says today will be full of enthusiasm and energy. You will move towards achieving your goals, and your hard work will pay off. Social life will also be active; you will get a good chance to spend time with friends and family. In terms of health, take a little caution. Focusing on meditation and exercise will help reduce mental stress. This is also a good time to take up a new hobby, which can unleash your creativity. Take wise steps in terms of money. Make informed decisions while investing. For potential financial gains, take a look at past projects again. Your career is showing good signs of progress. Your ideas may be appreciated at the workplace, which will increase your confidence. Still, some issues may require restraint. Overall, today will prove to be positive and auspicious for you. Spend it with pride with your loved ones.
