471 to nearly 73,000: India's start-ups have increased 15,400% in last 6 years

In India, the number of established startups have risen by 15,400% during the past six years. The number of new-age enterprises, which operate in 56 diversified sectors, increased from 471 in 2016 to 72,993 in 2022. Over 4,500 start-ups have been recognised in sectors such as the internet of things (IoT), robotics, artificial intelligence and analytics.

The government is implementing the Fund of Funds for Startups (FFS) Scheme and the Startup India Seed Fund Scheme (SISFS) to provide financial assistance to startups through Alternative Investment Funds (AIFs) and incubators, respectively, said Mr. Som Prakash, Minister of State for Commerce and Industry.

In terms of the number of startups created over the past six years and the employment they have generated, Maharashtra has edged out Delhi and Karnataka for the top rank. In Maharashtra, 13,519 startups were established which generated 1.46 lakh jobs over this period. Karnataka registered 8,881 startups and 1.03 lakh jobs, while the national capital registered 8,636 startups and 87,643 jobs.

The National Initiative for Developing and Harnessing Innovations (NIDHI), an umbrella programme launched by the Department of Science and Technology (DST), was introduced in 2016 with the goal of fostering knowledge-based and technology-driven innovations into profitable enterprises.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.