About Startup India Initiative
- It is flagship initiative aimed at supporting entrepreneurs, building a robust startup ecosystem and transforming India into a country of job creators instead of job seekers.
- Launched: 16th January, 2016 (celebrated as National Startup Day)
- Nodal Agency: Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry.
- Three Pillars:
- Simplification & Handholding: Easier compliance, regulatory and patent support, market access.
- Funding Support: Tax exemptions, Seed Fund, Fund of Funds, Credit Guarantee Scheme (CGSS).
- Incubation and Industry-Academia Partnership: E.g. MAARG Portal (Mentorship, Advisory, Assistance, Resilience, and Growth)
- Key Enablers & Platforms:
- Startup India Hub, Bharat Startup Knowledge Access Registry (BHASKAR) helping discovery and networking.
- SIPP (Startups Intellectual Property Protection) Scheme: Facilitates fast-tracking of patent applications.
Decadal Achievements (2016–2026)
- India is the world’s 3rd-largest startup ecosystem.
- ~2.09 lakh DPIIT-recognised startups (2016-25)
- 120+Unicorns with a combined valuation exceeding $350 Billion.
- Employment Generation and Inclusivity: Over 21 Lakh jobs created, with a significant multiplier effect.
- ~45% of recognized startups have at least one-woman director/partner.
- ~50% of startups are based in Tier-II/III cities.
Other Schemes promoting Startup Ecosystem
- Atal Innovation Mission (AIM),
- GENESIS (Gen-Next Support for Innovative Startups),
- NIDHI (National Initiative for Developing and Harnessing Innovations),
- ASPIRE (A Scheme for Promotion of Innovation, Rural Industries and Entrepreneurship)
