New Delhi: India, which is the world’s third largest start up ecosystem hub, is now home to more than 73,000 startups with at least one woman director, recognised under the Startup India initiative, the Ministry of Commerce & Industry stated on Wednesday. The ministry, in a release, highlighted that this represents nearly half of the 1,57,066 startups supported by the government, underscoring the crucial role women play in driving innovation and economic growth.

India, world’s 3rd largest startup, hub 

India has emerged as one of the most vibrant startup ecosystems globally, securing its position as the third-largest startup hub. With over 100 unicorns, the Indian startup landscape is shaping the future of innovation and entrepreneurship.

The entrepreneurial spirit in India has undergone a paradigm shift over the last decade. Cities such as Bengaluru, Hyderabad, Mumbai, and Delhi-NCR have become epicentres of innovation.

The widespread availability of affordable internet, coupled with a young and dynamic workforce, has fuelled the growth of startups in diverse sectors, including fintech, edtech, health-tech, and e-commerce.

Indian startups taking full advantage of technologies   

According to the “Indian Startup Ecosystem Report” by Startup India, India’s startups have leveraged emerging technologies such as artificial intelligence (AI), blockchain, and IoT to address both local and global challenges.

This culture of innovation, supported by incubators, accelerators, and robust mentoring networks, has fostered a unique ecosystem that connects grassroots challenges with cutting-edge solutions.

Recognising the transformative potential of startups, the Indian government has introduced several initiatives to support and nurture entrepreneurship.

Startup India emerges as game-changer 

The flagship Startup India programme, launched in 2016, has been a cornerstone of this effort. As of December 25, 2024, 157,066 startups have been recognised by the Department for Promotion of Industry and Internal Trade (DPIIT), with 759,303 users registered on the portal.

The government has launched ambitious programmes to support the startup ecosystem through ease of doing business, tax benefits, funding support, sector-specific policies, and the Bharat Startup Knowledge Access Registry (BHASKAR) platform.

Additionally, initiatives such as the Atal Innovation Mission (AIM) and the National Initiative for Developing and Harnessing Innovations (NIDHI) provide infrastructure and financial support to innovators.

The Startup Accelerator of MeitY for Product Innovation, Development, and Growth (SAMRIDH) scheme, launched in 2021, aims to support 300 software product startups over four years with an outlay of Rs 99 crore, offering funding of up to Rs 40 lakh per startup through accelerators to scale their businesses.

Highlighting the success of new-age companies such as BYJU’S, Zomato, Ola, and Nykaa, the ministry noted that these startups have expanded their operations globally, showcasing India’s ability to scale and compete on the world stage.

The success of Indian-origin startups in Silicon Valley further underscores the country’s global influence, the ministry added.

According to the Startup India International Guide, Indian startups are increasingly partnering with global corporations and entering international markets.

India’s leadership in affordable technology solutions, such as UPI and Aadhaar-enabled services, is inspiring similar innovations globally, the ministry added.

Furthermore, India’s unicorns are outpacing global peers in valuation growth, proving that the ecosystem’s foundation is robust and scalable, the Ministry of Commerce & Industry concluded.

With inputs from ANI