Govt recognises 84,102 entities as startups as on Nov 30

The government has recognised as many as 84,102 entities as startups as on November 30 this year, the Parliament was informed on Wednesday.

These startups are eligible for availing a host of incentives, including income tax benefits under the Startup India scheme, launched in January 2016. Under this initiative, entities are recognised as startups by the Department for Promotion of Industry and Internal Trade (DPIIT).

"As on 30th November 2022, 84,102 entities have been recognised as startups by DPIIT," Som Parkash, Minister of State for Commerce and Industry, said in a written reply to the Lok Sabha.

He added that the recognised startups are spread across 56 sectors, including agriculture, biotechnology, and chemicals.

Under Startup India, to provide capital at various stages of the business cycle of a startup, the government has implemented Fund of Funds and Startup India Seed Fund schemes.

In a separate reply, Parkash said, as on November 30 this year, from the Rs 10,000 crore Fund of Funds scheme, Rs 7,527.95 crore has been approved to the Alternate Investment Funds.

Similarly, from the Rs 945 crore Startup India Seed Fund scheme, Rs 455.25 crore has been approved to 126 incubators, of which Rs 186.15 crore has been disbursed as of November, he added.

"As on 30th November 2022, Maharashtra, Karnataka, Delhi, Uttar Pradesh, and Gujarat are the top five States/UTs in terms of the number of recognised startups," the minister said.

Replying to another question, the minister said the One District One Product (ODOP) initiative is operationally merged with Districts as an Export Hub (DEH) initiative of the Directorate General of Foreign Trade.