Number of recognized startups in India climb up to 1,57,066

New Delhi| The number of startups recognized by the Department for Promotion of Industry and Internal Trade (DPIIT) has increased to 1,57,066 in the country, the government reported. According to the Ministry of Commerce and Industry, the country now has more than 73,000 startups, with at least one woman director, recognized under the ‘Startup India initiative’, which accounts for almost half of the 1,57,066 startups supported by the government.

India has emerged as one of the most vibrant startup ecosystems globally in the last few years and has carved a niche for itself as the third largest startup hub. Indian startup ecosystem with over 100 unicorns reshaping the future of innovation and entrepreneurship. The ministry said that there has been a radical change in the entrepreneurial spirit in India in the last decade. Cities like Bengaluru, Hyderabad, Mumbai and Delhi-NCR have become centers of innovation.

A total of 13 startups companies launched IPOs in 2024. This number was much higher than in the previous several years. At the same time, this figure was at 10 in 2021, 6 in 2022 and 6 in 2023. All these 13 startup companies together have raised Rs 29,247.4 crore from the stock market. Of this, Rs 14,672.9 crore was fresh issue, while Rs 14,574.5 crore was Offer for Sale (OFS).

The widespread availability of affordable internet, as well as a young and dynamic workforce, has fueled the growth of startups in diverse sectors including fintech, edtech, health-tech and e-commerce.

‘Indian Startup Ecosystem Report, offered by Startup India, India’s startups have leveraged emerging technologies like Artificial Intelligence (AI), Blockchain and IoT to solve local and global problems. The Startup India programme, launched in 2016 by the central government, has been the cornerstone of this effort.

Apart from this, initiatives like Atal Innovation Mission (AIM) and National Initiative for Developing and Harnessing Innovation (NIDHI) provide infrastructure and financial assistance to innovators.