Startups registration in Gujarat surge by 160% in last 2 years: Union Govt to NathwaniMarch 24, 2023
New Delhi: Gujarat has witnessed a jump of 160% in registration of startups in the last two years from 873 in 2020 to 2,276 numbers in 2022. At national level, the number of entities recognised as startups by Department for Promotion of Industry and Internal Trade (DPIIT) went up from 14,498 in 2020 to 26,542 in 2022, increase of 83%. Minister of State for Commerce & Industry Shri Som Parkash provided this information in Rajya Sabha on March 24, 2023 while replying to a question raised by Member of Parliament Shri Parimal Nathwani.
According to the data provided, the number of entities recognised as startups by DPIIT in the state of Gujarat were 873 in 2020, 1,703 in 2021 and 2,276 in 2022, while 592 entities from Gujarat have been recognised as startups upto 28 February in 2023 – thus taking the total number of entities recognised as startups to 5,444. At national level, Gujarat ranked at number five amongst all states in terms of number of startups recognised by the DPIIT.
Since the launch of Startup India initiative in 2016, DPIIT has recognised 92,683 entities as startups as on 28th February 2023. Specifically in the last three years (2020, 2021 and 2022) and the current year (as on 28th February 2023), 67,223 entities have been recognised as startups by the DPIIT, according to the statement of the minister. Sector-wise, the highest number of 7,587 startups have been registered in IT Services followed by Healthcare and Lifesciences with 6,459, and Education with 4,164 startups registration, during the period under review.
Shri Nathwani requested the information about the number of Start-ups registered in the country in the last three years and the current year, the number of Start-ups that have turned unicorns during the same period; and the steps taken/being taken by Government to promote Start-up culture in the country.
Under the Startup India initiative, the Government constantly undertakes various efforts for the development and growth of startup ecosystem in the country, as per the statement. It also added that the flagship Schemes namely, Fund of Funds for Startups (FFS), Startup India Seed Fund Scheme (SISFS) and Credit Guarantee Scheme for Startups (CGSS) support startups at various stages of their business cycle to enable startups to graduate to a level where they are able to raise investments from angel investors or venture capitalists or seek loans from commercial banks or financial institutions. DeshGujarat
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