Minister of State for Commerce and Industry Som Parkash said that a total number of recognised startups in India rose from 471 in 2016 to 72,993 as on 30th June 2022, helped by proactive government interventions.
Startups and the entire technology ecosystem are the engines of growth for any country.
Recognising this aspect, the Government launched the Startup India initiative on 16th January 2016, intending to build a stronger ecosystem for nurturing India’s startup culture that would further drive our economic growth, support entrepreneurship, and enable large-scale employment opportunities, the minister said in a written reply to a question in the Rajya Sabha, ANI reported.
Startups spread over 56 diversified sectors
The Department for Promotion of Industry and Internal Trade (DPIIT) has recognised startups which are spread across 56 diversified sectors. More than 4,500 startups have been recognised in sectors relating to emerging technologies such as the Internet of Things (IoT), robotics, artificial intelligence, analytics, etc.
Department of Science and Technology (DST) launched an umbrella programme called National Initiative for Developing and Harnessing Innovations (NIDHI) in the year 2016 to nurture ideas and innovations (knowledge-based and technology-driven) into successful startups.
Under NIDHI, different programmes range from providing fellowships to the students opting for entrepreneurship.
Various programs launched
Department of Science and Technology (DST) launched an umbrella programme called National Initiative for Developing and Harnessing Innovations (NIDHI) in the year 2016 to nurture ideas and innovations (knowledge-based and technology-driven) into successful startups.
Under NIDHI, different programmes range from providing fellowships to the students opting for entrepreneurship.
Through the Entrepreneurs-In-Residence (EIR) programme to Promoting and Accelerating Young and Aspiring Innovators and Startups (PRAYAS) programme by providing financial support for converting ideas into prototypes, availability of early-stage Seed support to incubated ventures.
Startups taking up in various fields
Startups under the programme are taking up projects in various fields of agriculture and allied sectors like Agro-processing, Food Technology & Value Addition, Artificial Intelligence (AI), Internet of Things (IoT), Information & Communication Technology (ICT), Block Chain Technology (BCT), precision farming and Digital agriculture, and Block Chain technology among others.
The Innovations for Defence Excellence (iDEX) was launched by the Department of Defense Production, Ministry of Defense, to achieve self-reliance and foster innovation and technology development in Defense and Aerospace by engaging Industries, R&D institutes and academia and providing them grants to carry out R&D.
The startups receive up to Rs 1.5 crore as a grant for the development of innovative prototypes. They also receive enormous support from iDEX’s partner Incubators at IITs, IIMs, and other private incubators spread all over the country.
Source: indiatimes.com
