Biotech startups rose from 50 to 9,000 in last decade: Jitendra Singh
From just 50 biotech startups in 2014 in India, the ecosystem has grown to nearly 9,000 in the last decade, according to Union Minister Jitendra Singh.
DPIIT has recognised 1,40,803 entities as startups in India since the launch of the Startup India initiative in 2016. As of June 30, 2024, 67,499 of these startups have at least one woman director.
The information was shared by the Union Minister of State for Commerce and Industry, Jitin Prasada, in a written reply in the Rajya Sabha.
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Furthermore, he said the DPIIT-recognised startups have created over 15.53 lakh direct jobs as of June 30, 2024.
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The government unveiled an Action Plan for Startups comprising of schemes and incentives envisaged to create a vibrant startup ecosystem in the country.
The Action Plan comprises 19 action items spanning areas such as “Simplification and handholding”, “Funding support and incentives”, and “Industry-academia partnership and incubation”.
To attain specific objectives of the Action Plan, various programmes are implemented by the government under the Startup India initiative to recognise, develop, promote, and empower the startup ecosystem.
All the steps undertaken by the government under the said initiative are inclusive and are implemented across states/UTs, the MoS said.
He also highlighted the details of various programmes implemented by the government to promote startups across the country.
These include the Startup India Action Plan, Startup India Seed Fund Scheme (SISFS), Startup India, Fund of Funds for Startups (FFS) Scheme, and Credit Guarantee Scheme for Startups (CGSS), among others.
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