Since the launch of Start-up India in 2016, it was identified by the Department for Promotion of Industry and Internal Trade (DPIIT) that start-ups have reported creation of over 8.6 lakh direct jobs as of November 30, 2022.
The Start-up India Initiative was launched to build a strong ecosystem for nurturing innovation and start-ups in the country. To meet the objectives, an Action Plan was also released that laid the basis for Government support, schemes, and incentives to create a vibrant start-up ecosystem in the country. This plan comprises of 19 action items.
As of November 30, 2022, DPIIT has recognized 84,012 start-ups from across the country, and the total number of jobs created stands at 8,63,608.
The Government has undertaken various measures to popularise start-ups for young entrepreneurs in the country which includes- Start-up India Action Plan, Fund of Funds for Start-ups (FFS) Scheme, Credit Guarantee Scheme for Start-ups (CGSS), Regulatory Reforms, Ease of Procurement, Supp ort for Intellectual Property Protection, Self-Certification under Labour and Environmental laws, Income Tax Exemption for 3 years, International Market Access to Indian Start-ups, Faster Exit for Start-ups, Start-up India Hub, Exemption for the Purpose Of Clause (VII)(b) of Sub-section (2) of Section 56 of the Act (2019), Start-up India Showcase, National Start-up Advisory Council, Start-up India: The Way Ahead, Start-up India Seed Fund Scheme (SISFS), National Start-up Awards (NSA), States’ Start-up Ranking Framework (SRF), Start-up Champions on Doordarshan, Start-up India Innovation Week, TIDE 2.0 Scheme, MeitY Start-up Hub (MSH), SAMRIDH Scheme, Next Generation Incubation Scheme (NGIS), Support for International Patent Protection in E&IT (SIP-EIT) Scheme, and North-East Region Entrepreneurship & Start-up Summit (NERES).
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.