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.

national startups day

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