New Delhi, December 25: At least 157,066 startups have been recognised by Department for Promotion of Industry and Internal Trade (DPIIT) to date and 759,303 users are registered on the portal (as on December 25), the government said on Wednesday. The country now has more than 73,000 startups with at least one-woman director that have been recognised under the ‘Startup India Initiative’, representing nearly half of the 1,57,066 startups supported by the government, according to Ministry of Commerce and Industry.

The country has emerged as one of the most vibrant startup ecosystems globally, earning its place as the third largest startup hub. With over 100 unicorns, the Indian startup landscape is shaping the future of innovation and entrepreneurship. “The entrepreneurial spirit in India has undergone a paradigm shift in the last decade. Cities like Bengaluru, Hyderabad, Mumbai, and Delhi-NCR have become epicentres of innovation,” said the ministry. This year, 13 new-age companies launched their initial public offerings (IPOs), as startups cumulatively raised more than Rs 29,200 crore from the stock market. Tech Layoffs 2024: 539 Companies Lays Off 1,50,034 Employees This Year, Yahoo, AMD, Ola Electric and Others Latest To Let Go Staff From November to December.

Out of this, the fresh issue was nearly Rs 14,672 crore and Rs 14,574 crore Offer for Sale (OFS). Among 13 startup IPOs, 10 were mainboard and 3 were SME IPOs. The widespread availability of affordable internet, coupled with a young and dynamic workforce, has fueled the growth of startups in diverse sectors, including fintech, edtech, health-tech, and e-commerce. According to the ‘Indian Startup Ecosystem Report’ by Startup India, India’s startups have leveraged emerging technologies such as artificial intelligence (AI), blockchain, and IoT to solve local and global problems. Hiring 2024: Online Job Postings Jumped 20% This Year With Over 12 Lakh Openings Amid Digital Adoption and SMB Sector Growth, Says ‘India at Work’ Report.

The flagship Startup India programme, launched in 2016, has been a cornerstone in this effort. In addition, initiatives such as the Atal Innovation Mission (AIM) and the National Initiative for Developing and Harnessing Innovations (NIDHI) provide infrastructure and financial support to innovators. Moreover, the Startup Accelerator of MeitY for Product Innovation, Development, and Growth (SAMRIDH) scheme aims to support 300 software product startups over four years with an outlay of Rs 99 crore, providing funding up to Rs 40 lakh per startup through accelerators to scale their businesses.

(The above story first appeared on LatestLY on Dec 25, 2024 04:04 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).