Over 1.5 lakh startups recognised by government till October

Over 1.5 lakh entities have been recognised as startups by the government till October this year, Parliament was informed on Tuesday. The Government, with an intent to build a strong ecosystem for nurturing innovation, startups and encouraging private investments in the startup ecosystem of the country launched the Startup India initiative in January 2016.

"As on 31st October 2024, 152,139 entities have been recognised as startups by DPIIT (Department for Promotion of Industry and Internal Trade)," Minister of State for Commerce and Industry Jitin Prasada said in a written reply to the Lok Sabha.

Under the Startup India initiative, the Government is implementing three flagship Schemes, namely, Fund of Funds for Startups (FFS), Startup India Seed Fund Scheme (SISFS) and Credit Guarantee Scheme for Startups (CGSS) to support startups at various stages of their business cycle.