On January 16, 2025, India marks nine years of Startup India, a transformative journey that began in 2016. Designated as National Startup Day, this occasion celebrates the nation’s strides in fostering a robust and inclusive entrepreneurial ecosystem. Launched as a flagship initiative of the Government of India, Startup India aimed to nurture innovation and catalyse the growth of startups across the country. With more than 1.59 lakh startups recognised by the Department for Promotion of Industry and Internal Trade (DPIIT) as of January 15, 2025, India has firmly established itself as the third-largest startup ecosystem in the world. This vibrant ecosystem, driven by over 100 unicorns, continues to redefine innovation and entrepreneurship on the global stage. Major hubs like Bengaluru, Hyderabad, Mumbai, and Delhi-NCR have led this transformation, while smaller cities have increasingly contributed to the nation’s entrepreneurial momentum. Startups in fintech, edtech, health-tech, and e-commerce have tackled local challenges and
gained global recognition. Companies like Zomato, Nykaa, and Ola showcase India’s shift from job seekers to job creators, driving economic progress
According to an official statement from the Ministry of Commerce and Industry, Goyal also highlighted the crucial role of private equity (PE) and venture capital (VC) in supporting startup growth. “Our collaboration with PE and VC firms has been instrumental in supporting innovation and accelerating the journey of startups from ideation to execution. This partnership has not only provided funding but also brought in global expertise and networks, helping our startups compete on an international level,” he said.
India’s startup ecosystem has seen significant growth. In 2024, the country witnessed 76 initial public offerings (IPOs) and became the world’s third-largest startup ecosystem, with 1,59,157 startups as of 15 January 2025. This marks a dramatic rise from around 500 startups in 2016.According to the Minister, this ecosystem has generated 17.2 lakh direct jobs, and startups have received ₹13 trillion in government funding.
The scheme has acted as a transformative tool, mobilising private capital to support startups, particularly in Tier II and Tier III cities, enabling them to scale operations and make significant economic contributions. Goyal also said that the startup movement would gain further momentum with increased private funding in the future.
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