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Startup India: 1.14 Lakh Startups Have Created Over 12 Lakh Jobs So Far

Inc42 · 1y ago

Startup India: 1.14 Lakh Startups Have Created Over 12 Lakh Jobs So Far

According to a report by the Ministry of Finance, over 1.14 lakh startups recognized by the Indian government under the Startup India initiative have created more than 12 lakh jobs as of October 2023. The report also highlights that 2.1 lakh loans were disbursed under the initiative, with 84% of those loans sanctioned to women entrepreneurs. The report mentions the state-backed Open Network for Digital Commerce (ONDC), which recorded over 63 lakh transactions until November 2023. The report also mentions the challenges posed by artificial intelligence (AI) on employment.

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Over 1.4 lakh recognised startups in India created more than 15.5 lakh direct jobs

Economic Times

Economic Times · 1y ago

Over 1.4 lakh recognised startups in India created more than 15.5 lakh direct jobs

Recognized startups in India have generated over 15.5 lakh direct jobs, according to the government. The Department for Promotion of Industry and Internal Trade has recognized over 1.4 lakh entities as startups. Other initiatives, like the Prime Minister's Employment Generation Programme and the Deendayal Antyodaya Yojana-National Rural Livelihood Mission, have also supported job creation. The Ministry of Electronics and Information Technology has launched schemes, such as the Technology Incubation and Development of Entrepreneurs, that have supported startups and created jobs. The government has also implemented regulatory reforms to improve the startup ecosystem.

5,000 startups registered under Startup India closed so far: Govt

Inshorts · 8m ago

5,000 startups registered under Startup India closed so far: Govt

Roughly 5,000 startups recognised under the Startup India programme have closed so far, as per Ministry of Corporate Affairs data. This is about 3% of 1.52 lakh entities recognised as startups by the Department for Promotion of Industry and Internal Trade as of October 31. Maharashtra recorded the highest number of closed startups (929), followed by Karnataka (644).

SFAL-backed startups breaking barriers, creating cutting-edge products, says IT/BT Minister Priyank Kharge

Economic Times

Economic Times · 1y ago

SFAL-backed startups breaking barriers, creating cutting-edge products, says IT/BT Minister Priyank Kharge

Three startups in Bengaluru, India, supported by the Semiconductor Fabless Accelerator Lab (SFAL) have developed innovative technologies in the field of fabless semiconductors. Calligo Technologies has created a semiconductor chip using POSIT technology, which offers improved accuracy and power consumption for various applications. Morphing Machines has developed Redefine, a reconfigurable processor catering to emerging workloads. AB Circuits and Research Labs (ABCRL) have created TireSynapse, an ASIC chip for tire monitoring with integrated Bluetooth. SFAL aims to support fabless semiconductor startups and has so far incubated 43 startups, creating high-skill job opportunities.

India achieves 1.4 lakh startups milestone; 67,499 led by women

Inshorts · 1y ago

India achieves 1.4 lakh startups milestone; 67,499 led by women

India's startup ecosystem thrives with over 1.4 lakh entities recognized by DPIIT as of June 2024, with 67,499 startups led by women. The Startup India initiative, launched in 2016, has fueled innovation, creating over 15.53 lakh direct jobs. Government schemes continue to support and enhance entrepreneurship nationwide.

Economic Survey: India saw tech startup surge post Covid pandemic

Economic Times

Economic Times · 1y ago

Economic Survey: India saw tech startup surge post Covid pandemic

The number of technology startups in India reached about 31,000 in 2023, driven by the demand for tech solutions following the pandemic, according to the Economic Survey 2023-24. Top sectors for startups included edtech, enterprise tech, BFSI, advertising and marketing, retail tech, media and entertainment, consumer tech, professional services, and gaming. Recognized startups by the government have created over 12.42 lakh direct jobs. The survey also highlighted the growth of ecommerce, but noted challenges such as inadequate skills and data privacy issues.

Meesho enables 8.5 lakh job opportunities this festive season

YourStory

YourStory · 11m ago

Meesho enables 8.5 lakh job opportunities this festive season

Meesho, an affordable marketplace, has created 8.5 lakh seasonal job opportunities this festive season, a 70% increase from the previous year. Over 60% of the jobs were in Tier III and IV regions. Meesho's sellers have hired 5 lakh seasonal workers, while partnerships with logistics providers have generated an additional 3.5 lakh jobs. The company aims to make ecommerce accessible and inclusive, introducing value-added services and emphasizing women's participation. Flipkart, another ecommerce platform, plans to create over 1 lakh jobs ahead of its Big Billion Days sale.

Centre Greenlights INR 50 Lakh Grants Each For 7 Startups In Technical Textiles To Boost Innovation

Inc42 · 1y ago

Centre Greenlights INR 50 Lakh Grants Each For 7 Startups In Technical Textiles To Boost Innovation

The Centre has approved grants of INR 50 Lakh each for seven startups in the technical textiles sector under the National Technical Textiles Mission. The initiative aims to support innovation and sustainability. Eight startup proposals have been approved so far, focusing on areas such as sustainability, composites, high-performance textiles, meditech, and smart textiles. These grants are expected to drive advancements in these sectors.

India's more than 6,000 women-led startups remain unfunded: Tracxn

Livemint

Livemint · 1y ago

India's more than 6,000 women-led startups remain unfunded: Tracxn

India's startup ecosystem continues to exhibit gender biases, with over 6,000 companies founded by women remaining unfunded to date. Despite India being home to 8,800 startups with female founders and over $23.3 billion in cumulative funding, only around 2,300 startups with female founders have received funding so far. Additionally, VC funding in female-owned startups has declined by 75% in the past three years. However, there has been a significant rise in funding for women-led startups in 2021, with $6.5 billion raised compared to $1.1 billion projected for 2023.

Indian Soonicorns Have Created 1.26 Lakh Jobs To Date

Inc42 · 1y ago

Indian Soonicorns Have Created 1.26 Lakh Jobs To Date

According to a recent report by Inc42, Indian soonicorns (startups valued at over $1 billion but not yet IPOed) based in Bengaluru, Mumbai, and Delhi NCR have created nearly 90% of employment opportunities. These soonicorns, which have raised more than $15 billion and have a cumulative valuation of over $40 billion, have created more than 126,000 jobs to date. Fintech soonicorns have emerged as the biggest employment providers, followed by ecommerce and enterprise tech sectors. Despite the challenges faced by Indian startups over the past two years, the number of unicorns in India is expected to rise to over 280 by 2030, led by fintech, ecommerce, and enterprise tech soonicorns.

India witnessed startup boom in last 10 years; students must focus on entrepreneurship: Jitendra Singh - The Economic Times

Economic Times

Economic Times · 1m ago

India witnessed startup boom in last 10 years; students must focus on entrepreneurship: Jitendra Singh - The Economic Times

India's startup ecosystem has experienced significant growth, expanding from 350 startups to 1.75 lakh over the past decade, creating 17.56 lakh jobs. Union Minister Jitendra Singh highlighted this boom at events in Jammu, urging students to become job creators leveraging supportive startup schemes. The Rs 1 lakh crore National Research Foundation aims to boost private R&D investment. India is now fourth globally in scientific publications and ranks 39th in the Global Innovation Index, signifying advancements in research and innovation.

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