Perspective : India’s Startup Ecosystem | 16 January, 2023

Startup India initiative was launched on 16th January 2016 with an intent to build a strong ecosystem for nurturing innovation, startups and encouraging private investments in startup ecosystem of the country. Four years later in 2020 National Startup Awards were started to recognize and reward outstanding startups and ecosystem enablers. India is the 3rd largest startup ecosystem in the world, with 107 Unicorns. Total number of startups in India increased from 471 in 2016 to 84,012 in 2022. More than 4,500 startups have been recognized in sectors relating to emerging technologies such as the Internet of Things, robotics, artificial intelligence, analytics, etc. The government has launched a number of initiatives to promote startups across the country as part of the Startup India initiative, such as the Startup India Action Plan, the Fund of Funds for Startups Scheme, Regulatory Reforms, Support for Intellectual Property Protection, Self-Certification under Labour and Environmental Laws, Income Tax Exemption for 3 Years, Faster Exit for Startups, the Startup India Seed Fund Scheme etc.