New Delhi: The number of recognised Startups in the country has gone up from 726 in the financial year of 2016-17 to 65,861 in the financial year 2021-2022 due to sustained efforts of the government, Union Commerce and Industry Minister Piyush Goyal informed the Rajya Sabha on Friday.
"Sustained government efforts in this direction have resulted in increasing the number of recognized Startups from 726 in FY 2016-17 to 65,861 in FY 2021-22 (as on 14th March 2022)," stated Goyal in a written reply. He further stated that the government launched the Startup India initiative on 16th January 2016 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.
"Startup India’s role has been vital in nurturing entrepreneurship beyond the metros. The regional growth through the efforts of States and Union Territories (UTs) has created a national ecosystem to give a thrust to our economic objectives," added Goyal. He also said that there is at least one recognised startup from every State and UT and nearly 50% of the recognised startups are from Tier-II and III cities. The Minister said recognised startups are spread across over 640 districts and have reported the creation of more than 7 lakh jobs with an average of 11 jobs created by a recognised startup.
"The Government launched Government eMarketplace (GeM) Startup Runway to digitally enable relaxations to startups in public procurement. As of 2nd March 2022, 12,756 startups have been onboarded on GeM, with 1,19,407 orders from public entities, totalling over Rs. 6,128 crore," stated Goyal. He also said that in the last year, 4,800 of these startups were on-boarded, more than 66000 orders were issued, valuing over Rs. 3,800 crore.
