Startup India Recognised Over 18K Startups, Created 1.87 Lakh Jobs: Ramesh Abhishek (1)

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Startup India Recognised Over 18K Startups,
Created 1.87 Lakh Jobs Ramesh Abhishek 04 Jun'19
By Ribhu S
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• SUMMARY
• DPIIT has recognised 18,861 startups since the
  beginning of Startup India initiative
• With IP support, 1,496 startups have received 80
  rebate in patent filing fees
• Startup India has announced INR 1K Cr from Fund
  of Funds for women-centric ventures

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The Startup India programme has been called one
of the biggest success stories of the Indian
government in the past five years. Startup India
has brought a lot of focus on startups at the
state and central level, improved fundraising for
many ventures and has become the startup
ecosystems enabler in many other ways. Ramesh
Abhishek, the head of the Department for
Promotion of Industry and Internal Trade (DPIIT)
which is part of the Startup India initiative,
has revealed that over 18K startups have been
recognised under the Startup India initiative. He
added that in May 2019, 814 startups were given
recognition under the programme, which comes to
more than one startup recognised per hour. These
startups are spread across 513 districts of 29
States and 6 UTs in India, with 18,861 startups
recognised overall.
Abhishek added that a total of 16105
DPIIT-recognised startups have lead to the
creation of 1.87 Lakh jobs, which results in an
average of over 11 direct jobs per startup. He
also claimed that each direct job leads to the
creation of three jobs and the total jobs created
by these startups are estimated at more than 5.6
Lakh. However, it must be noted that the dataset
behind these findings was not revealed by
Abhishek. Abhishek further added that with
Intellectual Property support, 1,496 startups had
got 80 rebate in patent filing fees, 2,761 get
50 rebate in trademark filing fees while 389
startups avail expedited examination. A total of
103 patents have been granted with the fastest
one being granted in 81 days. The ease of filing
a patent makes it easier for innovative small
businesses to compete against larger companies or
conglomerates. Additionally, Abhishek revealed
that the Small Industries Development Bank of
India (SIDBI) has committed INR 2570 Cr to 45
Venture Funds, to catalyse investments of more
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than INR 25K Cr. So far, 244 startups have
received funding of Rs 1561 Cr , he
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Startups can now get government orders on GeM
Startup Runway, while getting an exemption from
prior turnover, prior experience and earnest
money deposits. Abhisheks tweet claimed that
1,862 startups have registered under GeM, and
have received 7,697 orders worth INR 275 Cr until
April 2019. DPIITs last annual report covered
2017-18. It has yet come out with an official
report of last year. The department has not yet
confirmed the data behind some of the specific
claims made to Inc42.
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Startup India To Focus On Women Beneficiaries

• One of the biggest recent announcements from
  DPIIT was in relation to Startup Indias steps to
  promote women entrepreneurs and startups led by
  women.
• In order to achieve this, the programme would
  organise interactions of women entrepreneurs with
  venture capital funds and banks to ease access to
  equity and debt financing, along with other
  steps.
• At least one-third of the beneficiaries of all
  programs organised by DPIIT should be women
• Work with ministries and state governments to
  ensure that a minimum of one-third participants
  in their startup and entrepreneurship development
  programs are women
• For funding support to women-led startups, DPIIT
  shall organise interactions with venture funds
  supported by SIDBI and lending institutions,
  including banks Startup India will design
  women-focused entrepreneurship development
  programmes both online and offline
• To support advisory, women-led startups can view
  and connect with each other across interests of
  legal, tax, financial and other service providers

Additionally, the Ministry of Commerce and
Industry has proposed setting up India Startup
Fund with a corpus of INR 1,000 Cr to support
tech startups, aimed at facilitating or setting
up 50K new startups in the country by
2024. Startup India DPIIT

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