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HomeBusinessGovernment Recognizes 84,102 Entities as Startups as on November 30

Government Recognizes 84,102 Entities as Startups as on November 30

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The Government has recognized as many as 84,102 entities as startups as on November 30 this year, Parliament was informed on Wednesday. These startups are eligible for availing a host of incentives, including income tax benefits, under the Startup India scheme, launched in January 2016.

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Under this initiative, the entities are recognized as startups by the Department for Promotion of Industry and Internal Trade (DPIIT). “As on 30th November 2022, 84,102 entities have been recognized as startups by DPIIT,” said Som Parkash, Minister of State for Commerce and Industry in a written reply to the Lok Sabha.

He said that the recognized startups are spread across 56 sectors, including agriculture, biotechnology and chemicals. Startup India was launched by the government on 16 January 2016.

Under Startup India, to provide capital at various stages of a startup’s business cycle, the government has implemented Fund of Funds and Startup India Seed Fund schemes.

In a separate reply, Parkash said as on November 30 this year, from the Rs 10,000 crore Fund of Funds scheme, Rs 7,527.95 crore has been approved to the Alternate Investment Funds. Similarly, from the Rs 945 crore Startup India Seed Fund scheme, Rs 455.25 crore has been approved to 126 incubators out of which Rs 186.15 crore has been disbursed as of November, he added.

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“As on 30th November 2022, Maharashtra, Karnataka, Delhi, Uttar Pradesh and Gujarat are the top five States/UTs in terms of a number of recognized startups,” the minister said.

Replying to another question, the minister said the One District One Product (ODOP) initiative is operationally merged with Districts as Export Hub (DEH) initiative of the Directorate General of Foreign Trade.

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