Recognized startups in the country have increased from 452 in 2016 to 84,012 by November 30, 2022. The Central Government launched the Startup India initiative on 16 January 2016 to promote the startup ecosystem.
Many startups have written success stories.
Startup in India: India is now the startup hub of the world Startup Hub has been made. The success rate of startups here is better than any other country in the world. For this reason, there is a continuous increase in startups in the country. The proof of this is that there has been an increase of 186 times in the number of startups in the country in 7 years. Country’s Union Minister Piyush Goyal (Piyush Goyal) Has repeated this figure in the Parliament. Along with this, it has also been said that the startup has the highest success rate as compared to the rest of the world.
India’s startup has the highest success rate
Union Minister Piyush Goyal told the Lok Sabha on Wednesday that the success rate of startups in India is the highest as compared to the rest of the world. During the Question Hour in the lower house of Parliament, Goyal said that there were 84,012 recognized startups in the country at the end of November. The commerce and industry minister said on 14 December that startups have a high probability of failure.
186 times increase
Although I must say that the success rate of startups in India is the highest as compared to the rest of the world. He said that the number of recognized startups in the country has increased from 452 in 2016 to 84,012 by November 30, 2022. The Central Government launched the Startup India initiative on 16 January 2016 to boost the startup ecosystem.
The plan was approved for four years
Fund of Funds for Startups (FFS), Startup India Seed Fund Scheme (SISFS), and Credit Guarantee Scheme for Startups (CGSS) provide support to startups at different stages of their business cycle. The Startup India Seed Fund scheme has been approved for four years from 2021-22 and is being implemented with a fund of Rs 945 crore. Its objective is to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry and commercialization.
decline in funding
In separate news, funding for Indian startups is set to drop significantly in 2022, according to a report by market intelligence platform Trackxn. Payroll funding is set to drop 35 percent to $24.7 billion in 2022, compared to $37.2 billion in the same period last year. According to the report, late-stage funding for startups is also set to fall by 45 per cent from $29.3 billion between January and November 2021 to $16.1 billion for the same period in 2022.
From Byjus to Polygon
Trackxn reports that BYJU’S ($965 million, Series F), VerSe ($805 million, Series J), Swiggy ($700 million, Series J), Tata Passenger ($496 million, Series D) and Polygon ($450 million, Series E) were the top firms that approved top funding rounds in the last one year.
Increase in capital venture deals
Contrary to this report, London-based management consultant GlobalData said the country’s startup ecosystem saw a 7.5 per cent increase in the number of venture capital deals during January-October in 2022. But according to a report, the total value of these deals declined by 29.8 per cent in the current year during the period under review. According to the analysis, Indian startups raised $19.3 billion in venture capital in 1,456 deals between January and October, while $27.5 billion was raised in 1,355 deals during this period.
: Language Inputs
