Startups, entire innovation ecosystem are engines of growth for any country: Som Parkash
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The Minister of State in the Ministry of Commerce and Industry, Som Parkash has said that startups and the entire innovation ecosystem are the engines of growth for any country and recognizing this aspect, the Government launched Startup India initiative in 2016 with an aim to build a stronger ecosystem for nurturing India’s startup culture that would further drive the economic growth, support entrepreneurship, and enable large-scale employment opportunities.
The Minister further noted that sustained Government e?orts in this direction have resulted in increasing the number of recognised startups from 442 in 2016 to 92,683 in 2023 (as on February 28, 2023). He said startups, have actively contributed in Government’s flagship programs such as Atal Mission for Rejuvenation and Urban Transformation (AMRUT), Smart Cities Mission, Swachh Bharat Mission, National Heritage City Development and Augmentation Yojana (HRIDAY scheme) to improve urban infrastructure and service provision.
Furthermore, Som Parkash said that DPIIT has recognised startups which are spread across 56 diversified sectors. More than 15% of these startups are in sectors such as Agriculture, Healthcare & Lifesciences, Automotive, Telecommunication & Networking, Computer Vision, etc. Over 7,000 recognised startups are in sectors like Construction, House-hold Services, Logistics, Real Estate and Transportation and Storage contributing towards urban concerns.
