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DPIIT recognises 50,000 startups under Startup India: Commerce Ministry

As many as 50,000 startups recognised by DPIIT: Commerce Ministry

As many as 50,000 startups have been recognised by the Department for Promotion of Industry and Internal Trade (DPIIT) till date, an official statement said on Thursday. Startup India is a flagship initiative of the government launched on January 16, 2016. The initiative is intended to catalyse a startup culture and build a strong and inclusive ecosystem for innovation and entrepreneurship in India. The recognised startups are eligible to avail the benefits across a range of laws, regulations, fiscal and infrastructural support. As on June 3, 2021, 50,000 startups across have been recognised as startups by DPIIT, of which 19,896 have been recognised since April 1, 2020, the commerce and industry ministry said.

Piyush Goyal launches Startup India Seed Fund Scheme

Economy > Government policies 21 April 2021 Union minister for commerce and industry Piyush Goyal on Tuesday launched the Startup India Seed Fund Scheme (SISFS) with a corpus . of Rs945 crore. The fund will provide financial assistance to startups for proof of concept, prototype development, product trials, market entry and commercialisation.  The corpus fund of Rs945 crore will be divided over the next 4 years for providing seed funding to eligible startups through eligible incubators across India. The scheme is expected to support an estimated 3,600 startups through 300 incubators. Speaking on the occasion, Goyal said that the SISFS will secure seed funding, inspire innovation, support transformative ideas, facilitate implementation, and start startup revolution. He said that this scheme will create a robust startup ecosystem, particularly in Tier 2 and Tier 3 towns of India, which are often deprived of adequate funding.

India s start-up ecosystem will continue to grow & thrive amid the pandemic: Arun Pandey

India s start-up ecosystem will continue to grow & thrive amid the pandemic: Arun Pandey
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