India has more than 73,000 startups with at least one woman director that have been recognised under the Startup India Initiative, according to ministry of commerce and industry.

This represents nearly half of the 1,57,066 startups supported by the government, showcasing the crucial role women play in driving innovation and economic growth, the ministry says.

With over 100 unicorns, India has emerged as one of the most vibrant startup ecosystems globally, earning its place as the 3rd largest startup hub.

“The entrepreneurial spirit in India has undergone a paradigm shift in the last decade. Cities like Bengaluru, Hyderabad, Mumbai, and Delhi-NCR have become epicentres of innovation. The widespread availability of affordable internet, coupled with a young and dynamic workforce, has fueled the growth of startups in diverse sectors, including fintech, edtech, health-tech, and e-commerce,” the ministry says.

According to the "Indian Startup Ecosystem Report" by Startup India, India’s startups have leveraged emerging technologies such as artificial intelligence (AI), blockchain, and IoT to solve local and global problems. “This culture of innovation, supported by incubators, accelerators, and robust mentoring networks, has fostered a unique ecosystem that bridges grassroots challenges with cutting-edge solutions,” says the commerce ministry.

As on December 25, 2024, 157,066 startups have been recognised by Department for Promotion of Industry and Internal Trade (DPIIT) and 759,303 users are registered on the portal. The flagship Startup India programme launched in 2016 offers ease of doing business, tax benefits, and funding support among other incentives to startups. Startups registered under the scheme enjoy tax exemptions for three consecutive financial years. The Fund of Funds for Startups (FFS) initiative has allocated ₹10,000 crore to boost early-stage funding.

India’s journey toward becoming the world’s leading startup ecosystem is driven by a combination of demographic, economic, and policy factors. With a young, educated population, a growing middle class, and an increasing penetration of digital technologies, the country is poised for exponential growth, the government says. “Government-backed policies, an investor-friendly environment, and a focus on fostering innovation have positioned India as a global leader in startups. Furthermore, the collaboration between academia, industry, and policymakers ensures a sustainable and inclusive ecosystem. As India continues to innovate and export its solutions globally, it is well on its way to setting benchmarks for the global startup community,” it adds.

Indian startups are increasingly partnering with global corporations and entering international markets. “India’s leadership in affordable technology solutions, such as UPI and Aadhaar-enabled services, is inspiring similar innovations globally. Additionally, India’s unicorns are outpacing global peers in valuation growth, proving that the ecosystem’s foundation is robust and scalable,” says the commerce ministry.