The First National Startup Day in India! A milestone For Indian Startups
- ByStartupStory | January 17, 2022
According to Prime Minister Modi, “Today, India is rapidly moving towards hitting the century of the unicorns. I believe the golden era of India’s startups is starting now,”In India, January 16 is a special day for startups. The Indian government started the Startup India initiative on this day in 2016, catalysing the startup ecosystem. As a result, it’s only right that this date has been designated as National Startup Day.
While we acknowledge that entrepreneurs have always existed in India, the Startup Indiai nitiative ushered in a new era of entrepreneurship and venture formation that has only expanded in size with each passing year. The Startup India Action Plan was the first government policy aimed specifically at startups and innovation, with the goal of attracting investments and grants.
Entrepreneurs might use the platform to register their businesses, obtain access to investors, secure equity-free capital, expedite the patent and trademark approval process, and meet regulatory criteria.
The Numbers Behind Startup India: Over the last six years, the government’s fund of funds had invested INR 8,085 Cr ($1.08 Bn) in 550 firms and committed INR 6,495 Cr ($873.1 Mn) to the initiative. According to official data, the Department for Promotion of Industry and Internal Trade has recognised over 61,669 startups (DPIIT).
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