Startup India accorded a giant milestone; to date, by recognising over 75000 startups up till date. According to India Union Minister Piyush Goyal, these numbers highlight the strength of a vision to see innovation and spur startup sector growth.
The most recent 10,000 startups were recognised in 156 days as opposed to the first 10,000 startups in 808 days. The Indian startup ecosystem produced 7.46 lakh jobs.
Tier II & Tier III cities account for 49% of the startups
Startup India program which was primarily setup to provide an enabling environment for the startups, has today evolved into the launchpad for them.
From providing funding to tax incentives, from support on intellectual property rights to eased public procurement, from enabling regulatory reforms to access to international fests and events, Startup India program has become synonymous with sustainable economic growth.
Out of the total recognized startups, around 12% cater to IT services, 9% to Healthcare and Life Sciences, 7% to education, 5% to professional and commercial services and 5% to agriculture.
An impressive, 7.46 lakh jobs have been created by the Indian startup ecosystem, so far, which has been a 110% yearly increase over the last 6 years. The fact that about 49% of our startups are from Tier II & Tier III today is a validation of the tremendous potential of our country’s youth.