As on June 3, 50,000 startups across have been recognized as startups by the Department for Promotion of Industry and Internal Trade (DPIIT) with most being in the food processing, product development, application development, IT consulting, and business support services sector, the commerce and industry ministry said in a statement.
“As on June 3, 2021, 50,000 startups across have been recognized as startups by DPIIT, of which 19,896 have been recognized since April 1, 2020,” the commerce and industry ministry said in a statement, adding that it took only 180 days to add the last 10,000 startups, as compared to 808 days for the first 10,000 at the beginning of the initiative.
As per the statement, 743 startups were recognized in 2016-17, in the first year of the initiative, which has now increased exponentially to over 16,000 startups being recognized in 2020-21.
“The recognized startups have contributed significantly to job creation, with 5,49,842 jobs reported by 48,093 startups with an average number of 11 employees per startup,” the ministry said.
It said with the launch of the Startup India initiative, recognized startups have now spread across 623 districts and each State and UT has at least one startup.