As of November 30 of this year, the government had designated 84,102 businesses as startups, the Parliament was informed on Wednesday. Under the Indian Startups programme, which was introduced in January 2016, these firms are eligible to receive a variety of incentives, including income tax benefits.
Entities are identified by the Department for Promotion of Industry and Internal Trade under this initiative as startups (DPIIT).
In a written response to the Lok Sabha, Minister of State for Commerce and Industry Som Parkash stated, “As of 30th November 2022, 84,102 organisations have been recognised as startups by DPIIT.”
He said that 56 industries, including agriculture, biotechnology, and chemicals, are home to recognised startups. On January 16, 2016, the government unveiled Startup India.
The government has established the Fund of Funds and Startup India Seed Fund schemes as part of Startup India to give money at different phases of a startup’s business cycle.
In a different response, Parkash stated that as of November 30 this year, the Alternate Investment Funds have been sanctioned for Rs 7,527.95 crore from the Rs 10,000 crore Fund of Funds scheme.
Similar to that, 126 incubators have been authorised for Rs 455.25 crore under the Rs 945 crore Startup India Seed Fund plan, of which Rs 186.15 crore has been paid out as of November.
According to the number of startups recognised as of November 30, 2022, the top five States/UTs are Maharashtra, Karnataka, Delhi, Uttar Pradesh, and Gujarat, according to the minister.
In response to a different query, the minister stated that the Districts as Export Hub (DEH) programme of the Directorate General of Foreign Trade has operationally integrated with the One District One Product (ODOP) effort.