Number of star-ups in India rises to 1,17,254 by December 2023

The number of start-ups recognised by the Department for Promotion of Industry and Internal Trade (DPIIT) has gone up to 1,17,254 as of 31 December 2023 and these are spread across more than 80 per cent of districts in the country, with at least one active start-up in each district, according to the government.

These startups are estimated to have generated over 1.24 million direct jobs, creating significant economic impact. There is at least one recognised startup in every state and union territory (UT) spread across over 80 per cent of the districts across the nation.

Since the launch of the government’s Startup India initiative in 2016 there were 55,816 DPIIT-recognised startups with at least one-woman director (as of 31 December 2023). The government is also implementing various schemes/programmes to promote women entrepreneurship. Minister of state for commerce and industry Som Prakash gave this information in a written reply in the Rajya Sabha on Friday.

He stated that the government has also earmarked 10 per cent of the Fund of Funds scheme operated by Small Industries Development Bank of India (SIDBI) for start-ups led by women in order to promote flow of both equity to such enterprises.

Further, the minister stated that the Women Capacity Development Programme (WING) identifies and supports both aspiring and established women entrepreneurs in their startup journeys. The workshops are open to variety of business sectors, including tech, construction, new products, machinery, food, agriculture, education, etc. These workshops create a conducive environment to share best practices and experiences in overcoming challenges and to gain insights learned from the business models adopted in the Indian context, the minister stated. 

Other initiatives include: a Virtual Incubation Programme for Women Entrepreneurs conducted in collaboration with Zone Startups; the Startup India Hub webpage dedicated to women entrepreneurs designed on the Startup India portal; Ascend Startup Workshop Series and Women for Startups Workshops; Women Entrepreneurship Platform (WEP); SuperStree Podcast vision to inspire women across all regions in India to become entrepreneurs, besides other awareness programmes and capacity building programmes organised by the government, and through print media and social media platforms for the entrepreneurs, the minister added  .

The government has set up dedicated bioincubation centres, called BIRAC (under BioNEST and EYUVA schemes) for women entrepreneurs that provide incubation space and mentoring (business, intellectual property, and legal) specifically to women students/scientists/entrepreneurs as well as support women self-help groups (SHGs). 

The ministry of electronics and information technology (MeitY) offers support to dedicated women-led accelerator programmes hosted by Zone Startups under a scheme called Startup Accelerators of MeitY for Product Innovation, Development and Growth (SAMRIDH).

MeitY also provides financial assistance to institutions of higher learning, under the Technology Incubation and Development of Entrepreneurs (TIDE) scheme, for enabling young entrepreneurs to commercially exploit technologies developed by them.

The government has also introduced a States’ Startup Ranking system in order to identify good practices across all the states with the aim of gauging the formulation and implementation of policies and special incentives to promote women-led startups. 

Government has instituted the National Startup Awards (NSA) to identify the depth, quality and spread of innovation, inclusivity and diversity, and entrepreneurship and promote startups across 20 sectors and special categories.   

Ministry of MSME has also taken several steps to support women owned micro, small and medium enterprises (MSMEs) in the country to increase women’s participation.