India Now Hosts Over 73,000 Startups with Women Directors: Commerce Ministry
- ByStartupStory | December 27, 2024
India is emerging as a global hub for entrepreneurship, with over 73,000 startups boasting at least one woman director, according to the commerce and industry ministry. Representing nearly half of the 157,066 startups recognized under the Startup India initiative, these ventures highlight the significant role women play in driving innovation and economic growth in the country.
The ministry, in its statement, said, “Women are at the forefront of driving innovation and economic growth.”
Notable companies such as BYJU’S, Zomato, Ola, and Nykaa exemplify India’s potential to compete in global markets, having expanded their operations internationally. Startups across the nation have also leveraged cutting-edge technologies like artificial intelligence (AI), blockchain, and the Internet of Things (IoT) to solve both local and global challenges, as highlighted in a report by Startup India.
Impact of Startup India Initiative
Launched in January 2016, the Startup India initiative aims to foster a robust startup ecosystem by encouraging innovation and investments. As of now, 157,066 startups are recognized by the Department for Promotion of Industry and Internal Trade (DPIIT), and 759,303 users are registered on the initiative’s portal.
DPIIT-recognized startups benefit from incentives and support under various schemes, including the Fund of Funds for Startups (FFS). Other initiatives, such as the Atal Innovation Mission (AIM) and the National Initiative for Developing and Harnessing Innovations (NIDHI), provide essential infrastructure and financial assistance to innovators.
Support for Software Startups
The Startup Accelerator of MeitY for product innovation, development, and growth (SAMRIDH), launched in 2021, is another significant initiative. With a total outlay of ₹99 crore, the scheme aims to support 300 software product startups over four years, offering funding of up to ₹40 lakh per startup through accelerators.
Empowering Women Entrepreneurs
This year, Amazon India partnered with Startup India to strengthen the startup ecosystem and empower women entrepreneurs. Through Amazon’s ‘Saheli’ program, women entrepreneurs receive a platform to showcase their locally made products, contributing to their growth via e-commerce.
India’s startup landscape demonstrates a unique blend of innovation, gender inclusivity, and global competitiveness, cementing its position as a leader in the global entrepreneurial ecosystem.
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