Startup India Initiative

Why in news?

The Union Home Minister has inaugurated the Gujarat government’s two-day Startup Conclave-2025 in Gandhinagar.

• It is a flagship initiative launched in 2016.
• Objective - To promote innovation, empower startups with tools for growth and design, generate employment, and foster economic development.
• Managed by - A dedicated Startup India Team, which reports to The Department for Promotion of Industry and Internal Trade (DPIIT).
• Nodal Ministry - Ministry of Commerce.
• Key features –
  • Funding support - A Fund of Funds for venture capital (Rs. 10,000 crore to support innovation driven Startups by SIDBI),  Tax exemptions for three years, easy loan access;
  • Simplifies regulations - Self-certification for labor and environmental laws, a fast-track patent process with reduced fees, and an easier exit policy for startups;
  • Platform for startups - Startup India Hub for networking and guidance and bring together a diverse array of stakeholders to foster innovation.
• India’s status -
  • Registered Startup - In 2014, Just had 500 startups, but today, have 1.92 lakh startups (out of the total startups, 52% are in tier-II and tier-III cities) registered with DPIIT.
  • Women - Of the total startups, 48% are initiated by women.
  • In the North-East, around 900 women-led startups are actively contributing to the vision of an Atmanirbhar Bharat.
  • Unicorn - In 2014 - 4 unicorns (privately held startups valued at over $1 billion) and now 120 such establishments whose combined market value is over $350 million.
  • Employment creation - Startup ecosystem has employed 17.90 lakh people.

India has witnessed over 380 % growth in the past decade, establishing the country as the world’s 3^rd-largest startup and digital ecosystem today.

References

1. The Hindu | Startup India Campaign
2. Startup India | Startup India Initiative