Most of the northern and southern Indian states are a hotbed for startups.
With over 8,000 recognised start-ups, Maharashtra is the leading Indian state in generating the most number of start-ups in the country. Following it is the National Capital Delhi with over 7,900 DPIIT recognised start-ups, according to data by government portal Startup India. Out of the total number of 21,235 recognised start-ups in India, most of them come from six leading states which include Karnataka, Uttar Pradesh, Gujarat and Telangana. Also, most of the northern and southern Indian states are a hotbed for startups as out of the 11 states with more than a 1,000 recognised start-ups, 8 belong to the northern and southern region of the country including Haryana, Uttar Pradesh, Rajasthan, Kerala, Telangana, Karnataka, and Tamil Nadu.
Given the country’s stellar run in start-ups segment, India is expected to become the unicorn destination of the world. “Due to the close integration of start-ups and conglomerates for delivering tech-enhanced services, the country is expected to churn most number of unicorn companies, a joint report by CREDAI, CBRE said recently. India is currently the fourth country with the highest number of startups after the US, the UK and China. But that is changing at a fast pace with a good number of start-ups emerging out of the country annually. In 2018 alone, eight Indian firms entered the elite billion-dollar club including the food aggregator Zomato and Swiggy, hotel chain and aggregator Oyo, educational platform Byju’s, Paytm subsidiary Paytm Mall, and Udaan.
What are the Government Schemes for funding startups under various Departments? pic.twitter.com/gRsQIUF0uW
— Minister of Commerce and Industry (@CimGOI) August 20, 2019
Sensing the high potential in Indian start-ups, the government of India had launched its flagship Startup India initiative in 2016. The program aims at providing support to entrepreneurs. Under this, various schemes such as Venture Capital scheme, Technology Development program, Ayurvedic Biology program and Aspire – a scheme for promotion of innovation, rural industries and entrepreneurship, have been deployed to catalyze start-up growth in India. The Department for Industrial Policy and Promotion (DPIIT) oversees the functioning of the initiative.