On January 16, 2025, India celebrates nine years of Startup India, a groundbreaking initiative launched in 2016. Recognised as National Startup Day, this milestone highlights the country’s journey in fostering an inclusive and dynamic entrepreneurial ecosystem. Startup India, a flagship initiative by the Government of India, aimed to ignite innovation and accelerate the growth of startups nationwide.
A Thriving Startup Ecosystem
India has emerged as the third-largest startup ecosystem globally, with over 1.59 lakh startups recognised by the Department for Promotion of Industry and Internal Trade (DPIIT) as of January 15, 2025. The ecosystem boasts over 100 unicorns and vibrant hubs in cities like Bengaluru, Hyderabad, Mumbai, and Delhi-NCR. Smaller cities are also playing a crucial role in driving entrepreneurial momentum.
Key Sectors and Notable Companies
Startups in fintech, edtech, health-tech, and e-commerce have addressed local challenges and achieved global recognition. Companies like Zomato, Nykaa, and Ola exemplify India’s shift from job seekers to job creators, driving economic growth.
Key Milestones of Startup India
Transformative Achievements
- DPIIT-recognised startups grew from about 500 in 2016 to 1,59,157 by January 15, 2025.
- As of October 31, 2024, 73,151 startups include at least one woman director, showcasing the rise of women entrepreneurs.
- Over 16.6 lakh direct jobs were created by recognised startups from 2016 to October 31, 2024, significantly boosting employment.
Core Features of Startup India
Simplifying Business Operations
- Ease of Doing Business: Simplified compliance, self-certification, and single-window clearances ease startup operations.
- Tax Benefits: Startups enjoy tax exemptions for three consecutive financial years.
- Funding Support: A ₹10,000 crore Fund of Funds for Startups (FFS) aids early-stage ventures.
- Sector-Specific Policies: Targeted policies support biotechnology, agriculture, renewable energy, and more.
Employment Impact Across Industries
By October 31, 2024, DPIIT-recognised startups generated 16.6 lakh direct jobs. Key contributions include:
- IT Services: 2.04 lakh jobs
- Healthcare & Lifesciences: 1.47 lakh jobs
- Professional & Commercial Services: 94,000 jobs
Flagship Schemes Supporting Startups
Startup India introduced flagship schemes to bolster startups at various stages:
- Startup India Seed Fund Scheme (SISFS)
- Credit Guarantee Scheme for Startups (CGSS)
- Fund of Funds for Startups (FFS)
Initiatives Driving Growth
Building Capacity
Workshops under the States’ Startup Ranking framework strengthen regional ecosystems, focusing on non-metro cities. Specialised handholding sessions empower incubators in smaller cities.
Promoting Outreach
Startup showcases and social media campaigns inspire entrepreneurs, particularly in non-metro areas. These initiatives connect startups with investors and mentors, driving innovation.
Ecosystem Events
Events like Startup Mahakumbh and ASCEND workshops foster collaboration. Startup India Innovation Week, held around January 16, celebrates entrepreneurship nationwide.
Global Collaboration
India’s G20 Presidency institutionalised the Startup20 Engagement Group, showcasing regional ecosystems and strengthening international partnerships. Initiatives like BHASKAR further enhance global outreach.
BHASKAR: A Digital Revolution
Launched in September 2024, the Bharat Startup Knowledge Access Registry (BHASKAR) centralises interactions within India’s entrepreneurial ecosystem. Its features include:
- Seamless networking for startups, investors, and mentors
- Centralised access to resources
- Personalised BHASKAR IDs for startups
- Advanced search tools for opportunities
- Enhanced global and regional inclusivity
Startup Mahakumbh: Celebrating Innovation
Startup Mahakumbh unites startups, unicorns, investors, and industry leaders. The 2024 edition attracted 48,000 attendees and 1,300 exhibitors from 14 countries. The upcoming fifth edition, scheduled for March 7-8, 2025, in New Delhi, promises to be another significant event celebrating entrepreneurial growth.
As India marks nine years of the Startup India initiative, it stands as a global hub for innovation and entrepreneurship. With over 1.59 lakh startups and robust support systems, the initiative continues to empower entrepreneurs across sectors and regions. Through schemes, platforms like BHASKAR, and events such as Startup Mahakumbh, Startup India remains a cornerstone of India’s journey towards economic growth and inclusive development.
