Govt Recognises 84,102 Entities as Startups as on November 30

The government has recognized 84,102 entities as startups till November 30 this year, Parliament was informed on Wednesday. These startups are eligible to avail several incentives including income tax benefits under Startup India Scheme launched in January 2016.

Under this initiative, the entities have been recognized as startups by the Department for Promotion of Industry and Internal Trade (DPIIT). “As on 30 November 2022, 84,102 entities have been recognized as startups by DPIIT,” Minister of State for Commerce and Industry Som Prakash said in a written reply in the Lok Sabha.

He said the recognized startups are spread across 56 sectors, including agriculture, biotechnology and chemicals. Startup India was launched by the government on 16 January 2016.

Under Startup India, the government has implemented Fund of Funds and Startup India Seed Fund schemes to provide capital at different stages of the business cycle of startups.

In a separate reply, Prakash said that till November 30 this year, Rs 7,527.95 crore has been sanctioned to alternative investment funds from the Rs 10,000 crore Fund of Funds scheme. Similarly, from the Rs 945 crore Startup India Seed Fund scheme, Rs 455.25 crore has been sanctioned to 126 incubators, of which Rs 186.15 crore has been disbursed till November.

“As on 30 November 2022, Maharashtra, Karnataka, Delhi, Uttar Pradesh and Gujarat are the top five states/UTs in terms of number of recognized startups,” the minister said.

In response to another question, the minister said that the One District One Product (ODOP) initiative has been merged with the districts as Export Hub (DEH) initiative of the Directorate General of Foreign Trade.

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