The Government today said that the number of startups recognized by the Department for Promotion of Industry and Internal Trade, DPIIT, has reached 50 thousand. Startup India is a flagship initiative of the Central government, which was launched by the Prime Minister Narendra Modi in January, 2016. The initiative is intended to catalyse startup culture and build a strong and inclusive ecosystem for innovation and entrepreneurship in the country.
Commerce and Industry Ministry said, the recognized startups have now spread across 623 districts and each State and Union Territories has at least one startup. The Ministry said, 30 States and UTs have announced specific Startup Policies to support startups. Maharashtra, Karnataka, Delhi, Uttar Pradesh and Gujarat have the highest number of startups. About 1.70 lakh jobs were created by recognized startups in the last financial year.
The sectors that had the maximum registered startups were Food Processing, Product Development, Application Development, IT Consulting and Business Support Services. The Ministry said, funding opportunities to startups have been enhanced through the Fund of Funds Scheme with an overlay of Rs 10,000 and the recently launched Startup India Seed Fund Scheme with an outlay of Rs 945 crore.