Startups are limited to only five states!!!
Startup india scheme has been launched for the development of industries in the country. Thousands of startups are getting approved every year. Financial assistance is also being given to all startups by the central government. According to government statistics, 60 percent of the government recognized startups are limited to only five states of the country. A total of 84,012 startups have been recognized in the country till 30 november 2022. Out of this, 60 percent startups are present only in Maharashtra, Karnataka, Delhi, gujarat and Uttar Pradesh.
Maharashtra tops the list with 15,571 government recognized start-ups. There are 9,904 recognized start-ups in Karnataka, 9,588 in Delhi, 7,719 in Uttar Pradesh and 5,877 in Gujarat. The government launched the Start-up india initiative on 16 january 2016 with the aim of creating a robust system to promote innovation and start-ups in the country. In order to fulfill the objectives of this initiative, the government prepared an action plan for Start-up India.
Government helps in funding
A variety of topics are included in the action plan, which are divided among categories including "Simplification and Handholding," "Funding Support and Incentives," and "Industry-Academia Partnership and Incubation." Under the Startup india initiative, the government has implemented Fund of Funds for Startups (FFS) and Startup india Seed Fund Scheme (SISFS) for funding startups at different stages of their business cycle. Both the schemes have been implemented on pan-India basis.
Start-up india Seed Fund Scheme has been approved for 4 years from 2021-22. The program's goal is to give start-ups financial support for concept proofing, prototype development, product testing, market entry, and commercialization. A total of Rs 455.25 billion from a corpus of Rs 945 billion in SISFS through november 30, 2022, has been sanctioned to 126 incubators, of which Rs 186.15 billion have been paid out.
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