The Department for Promotion of Industry and Internal Trade (DPIIT) has recognized over 75,000 start-ups in India. The country has achieved this record during the 75th year of India’s independence and during the Amrit Mahotsav of independence. The success of starting such a number of start-ups in the country achieved through the ‘Start-up India programme’.
What is Start-up India Program?
The Start-up India program launched by the Government of India to provide an enabling environment for start-ups in the country. The Startup India initiative announced on August 15, 2015 by the Honorable Prime Minister of India, Narendra Modi. The program became like a launchpad for start-ups. It aims to build a strong ecosystem in the country by fostering innovation and start-ups in India. This will boost economic development and generate employment in a big way.
Under the program, the government provides funds to the owners of startups to encourage them. The government supports intellectual property rights to facilitate public procurement. Enables regulatory reforms to gain access to international festivals and events.
History of Start-up Ecosystem:
- A program launched on 16 January 2016 to build a strong start-up ecosystem in the country.
- Therefore, January 16 celebrated as National Start-up Day in the country.
- This program and action plans launched six years ago made India the third largest ecosystem.
- In the initial 808 days of the initiative, 10000 start-ups recognized.
- As per the known statistics currently more than 80 start-ups are being recognized daily which is the highest rate in the world.
- Of the startups recognized so far, 12% are related to IT services, 9% to healthcare and life sciences, 5% to professional and commercial services, 7% to education and 5% to agriculture.
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