From roughly 24,927 companies confessed as startups in November annually. The amount has jumped into 39,114 startups on November 3, 2020.
Even the Modi administration’s flagship approach to market the Indian startup ecosystem — Startup India has seen a 57 percent gain in the amount of all government-recognized startups. “Using 26 startups being commissioned by @DIPPGOI each and every single day, #NewIndia is quickly rising as a startup hub! ,”
DPIIT, in its own Vision record annually, had targeted at 50,000 brand new startups, 20 lakh indirect and direct tasks by 2024 and 500 brand new incubators and accelerators, 100 invention zones in urban regional bodies, along with seven research parks to assist startups.
DPIIT had proposed allocating the whole corpus of Rs 10,000 crore Fund of Money together with raising CSR funds to incubators. The department said an India Startup Fund of Rs 1000 crore for tech startups and another Rs 1000 crore in seed financing into startups are set.
From the present Rs 10,000 crore Fund of Money, on February 18, 2020, SIDBI had dedicated Rs 3123.20 crore into 47 SEBI enrolled Alternative Investment Funds (AIFs) who have spent Rs 3,378.47 crore to 320 startups from which Rs 912.91 crore were attracted from Fund of Funding for startups.
The fund doesn’t invest in startups but provides funds into the AIF as kid capital who subsequently finance startups via equity and equity-linked instruments. But while startups remain an integral element to India’s entrepreneurship, their talk in the nation’s gross domestic product (GDP) isn’t known.