National Startup Day: 1.57 lakh startups, 100+ unicorns, and India’s journey so far

As India celebrates 9 years of the government's Startup India initiative, Prime Minister Narendra Modi says during these nine years, the programme has empowered youngsters, turning their ideas into successful startups. "We have left no stone unturned to encourage a culture of StartUps," PM Modi says, adding that the success of Startup India reflects that today’s India is dynamic, confident and future-ready. "I compliment every youngster in the startup world and urge more youngsters to pursue this. It’s my assurance you won’t be disappointed!," says the PM.

The PM says the initiative has redefined innovation, entrepreneurship and growth, and has emerged as a way of furthering youth empowerment. "Over the past nine years, this program has empowered countless youngsters, turning their innovative ideas into successful startups."

India has one of the most vibrant startup ecosystems globally, earning its place as the 3rd largest startup hub. With over 100+ unicorns, the startup landscape in the country is shaping the future of entrepreneurship in the country. As of December 25, 2024, 1,57,066 startups have been recognised by the Department for Promotion of Industry and Internal Trade (DPIIT) and 7,59,303 users are registered on the portal. The country boasts over 73,000 startups with at least a woman director that have been recognised under the Startup India Initiative. Key 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 fuelled the growth of startups in diverse sectors, including fintech, edtech, health tech, and e-commerce.

PM Modi says from tech-driven solutions to rural innovations, healthcare advancements to biotech breakthroughs, fintech to edtech, and clean energy to sustainable technology, Indian startups are solving global challenges while at the same time creating jobs and boosting India's quest towards self-reliance. "Startup India has propelled India to become among the largest and most vibrant StartUp ecosystems. This was when people doubted India’s ability to thrive in this system just a decade ago!" he said.

India’s startups are also leveraging emerging technologies such as artificial intelligence (AI), blockchain, and IoT to solve local and global problems. The government has introduced several initiatives to support and nurture entrepreneurship.

Key features of Startup India Programme:

• Simplified compliance, self-certification, and single-window clearances have reduced bureaucratic hurdles for 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

• Tailored policies for industries like biotechnology, agriculture, and renewable energy have encouraged sectoral growth

• Platform designed to centralise, streamline, and enhance collaboration among key stakeholders within the entrepreneurial ecosystem, including startups, investors, mentors, service providers, and government bodies.

Other initiatives to support entrepreneurship

Apart from Startup India, initiatives such as the Atal Innovation Mission (AIM) and the National Initiative for Developing and Harnessing Innovations (NIDHI) have also provided infrastructure and financial support to innovators. The startup accelerator of MeitY under the product innovation, development, and growth (SAMRIDH) scheme launched in 2021 aims to support 300 software product startups over four years with an outlay of ₹99 crore, providing funding up to ₹40 lakh per startup through accelerators to scale their businesses.  

In terms of jobs, government data shows that startups have created over 1.6 million direct employment opportunities across more than 55 varied industries, which include areas beyond technology. India has become a magnet for global venture capital (VC) and private equity (PE) investments as well. In 2024, India’s tech startup ecosystem garnered $11.3 billion in funding, reflecting a marginal 6% increase from $10.7 billion in 2023. IndiaTech received $5.32 billion across 540 funding rounds in H2 2024, a growth of 8% from H2 2023 where $4.92 billion was raised across 890 rounds, the latest data by market intelligence platform Tracxn shows.

What Startup Founders Say about Startup India

Aman Gupta, co-founder, Boat, says the National Startups Day should be celebrated with the same grandeur as Valentine’s Day, or Mother’s Day, and so many others. "Startups are the heartbeat of this nation. In just a short time, we’re already the 3rd largest startup ecosystem in the world. And soon, we’ll be the first—I know it! Startups are more than just businesses—they’re engines of innovation, job creation, stories of risks and rewards and global recognition. Credits to the founders from every corner of India dreaming, hustling, building, and growing."

Ritesh Agarwal, CEO of OYO, calls PM Modi "truly a startup Prime Minister," saying India's startup journey is not just about a single initiative—it’s about a series of game-changing moves that came together. He calls it a high-speed train, powered by Startup India, Digital India, GST, and a lot of capital. "With UPI and capital driving the momentum, we’re headed for limitless growth!" says Ritesh.

Yashish Dahiya, CEO and co-founder, Policybazaar Fintech says when PM Modi came to power, he clearly said that the government is going to be more about governance, less government, more governance, supporting something like the startup ecosystem. "He has by far been the most vocal person. Startups have had a great decade in India."

Nikhil Kamath, co-founder, Zerodha says startups have had a great decade in India. "The stability and the consistency in policymaking and having a stable government is something of a novelty in the regions that we are competing against. The India story has been narrated so well abroad, that there is so much appetite for investing in India. He's really a unique man, a unique leader who is carrying the country forward."

Rohan Verma, CEO and Executive Director, MapMyIndia, calls Prime Minister Narendra Modi a visionary "CEO of India". "You know, as a young startup CEO, one of the biggest challenges you have is to, you have to drive people to your vision, to make sure the ball is never dropped."

Rohit Gajbhiye, MD and Founder of LEO1, says every startup journey is a testament to resilience and innovation. "As a community, we embrace each challenge as an opportunity to grow, constantly redefining boundaries and creating impact. Our mission goes beyond transforming industries—we strive to contribute to a stronger, digitally empowered nation. Together, we build, we learn, and we move forward," says Gajbhiye.

Dhruvil Sanghvi, Founder & CEO of LogiNext, says the National Startup Day is a powerful acknowledgement of the immense potential of entrepreneurship in India. "As an entrepreneur, I am deeply grateful for the unwavering support of the Government of India in fostering a thriving startup ecosystem. The success of initiatives like ONDC (Open Network for Digital Commerce) is particularly inspiring, showcasing how innovative startups can revolutionise industries such as logistics and commerce."