Startup India Initiative: Catalyzing Economic Growth and Innovation

Launched by Hon’ble Prime Minister Narendra Modi on January 16, 2016, the Startup India initiative has been instrumental in creating a vibrant ecosystem for startups in India. Designed to foster innovation, drive sustainable economic growth, and generate employment opportunities, the initiative has rapidly positioned India as the third-largest startup ecosystem globally. As of December 17, 2020, the initiative has recognized over 40,752 startups across 586 districts in all 28 states and 8 Union Territories, demonstrating significant geographical reach and impact.

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Startup India’s 19-Point Action Plan

What is the primary goal of the Startup India Initiative?

To build a strong ecosystem for nurturing innovation and startups in India, driving sustainable economic growth and creating large-scale employment opportunities.

How many startups have been recognized under the Startup India Initiative as of December 2024?

Over 40,752 startups have been recognized, spreading across all states and union territories of India.

What are the three pillars of the Startup India 19-point action plan?

The pillars include Simplification and Handholding, Funding Support and Incentives, and Industry-academia Partnership and Incubation.

How does the States’ Startup Ranking Framework contribute to the ecosystem?

It encourages states and union territories to adopt best practices and build a supportive environment for startups, measuring their efforts and progress in fostering local entrepreneurship.

What significant milestone is anticipated for Indian startups by 2025?

India aims to increase its number of Unicorn startups to 100 by 2025, reflecting the rapid growth and scaling potential of startups in the country.

How are industry and academia collaborating to foster entrepreneurship in India?

Through partnerships that enable practical applications of academic research and innovation, facilitating a productive exchange of knowledge and resources between educational institutions and industry leaders.