Ministry of Commerce & Industry Celebrates 9 Years of the Startup India Initiative

 Ministry of Commerce & Industry Celebrates 9 Years of the Startup India Initiative

The Ministry of Commerce & Industry marks the 9th anniversary of the Startup India Initiative, which was launched in 2016 as a flagship program by the Department for Promotion of Industry and Internal Trade (DPIIT).

Key Features of the Startup India Initiative:

• Objective: The initiative aims to foster a startup culture and create a robust and inclusive ecosystem for innovation and entrepreneurship in India.

• Core Features:

  • Bharat Startup Knowledge Access Registry (BHASKAR): Launched in 2024, this platform connects entrepreneurs, investors, mentors, policymakers, and other stakeholders within the startup ecosystem on a single interface.
  • MAARG Mentorship Platform: Aims to facilitate smart matchmaking between mentors and startups.
  • Startup India Hub Portal: A comprehensive digital platform for all stakeholders involved in the entrepreneurial ecosystem.
  • States' Startup Ranking Framework: Strengthens regional startup ecosystems through capacity-building workshops.

• Ease of Doing Business: The initiative simplifies compliance processes, offers self-certification, and provides single-window clearances.

• Tax Benefits: Startups are eligible for tax exemptions for the first three consecutive financial years.

• Funding Support: A ₹10,000 crore Fund of Funds for Startups (FFS) is available to support early-stage funding.

• Sector-Specific Policies: Focused policies in areas like biotechnology, agriculture, and renewable energy.

Flagship Schemes under Startup India:

• Startup India Seed Fund Scheme (SISFS): A four-year program that supports startups in areas such as proof of concept, prototype development, and commercialization.

• Credit Guarantee Scheme for Startups (CGSS): Provides credit guarantees for loans granted to eligible startups.

• FFS Scheme: Aims to improve access to domestic capital for Indian startups.

Key Achievements:

• Increase in Startups: The number of DPIIT-recognized startups has grown from 500 in 2016 to 1.59 lakh in 2025.

• Startup Ecosystem: India has become the third-largest startup ecosystem globally, with over 100 unicorns.

• Employment Generation: Over 16.6 lakh direct jobs have been created as of October 31, 2024.

• Women Empowerment: 73,151 recognized startups have at least one woman director.

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