The Centre launched the Startup India initiative on January 16, 2016. To support start-ups at various stages of their lifecycle, the government has introduced flagship schemes such as:

Fund of Funds for Startups: This initiative ensures that start-ups have access to capital for growth and scaling.

Startup India Seed Fund Scheme: Targeting early-stage start-ups, this scheme provides crucial seed funding.

Credit Guarantee Scheme for Startups: It offers financial security and helps start-ups secure credit.

Complementing these financial measures are initiatives like the States’ Startup Ranking, National Startup Awards, and Innovation Week, which collectively aim to build a vibrant and inclusive start-up ecosystem.

The impact of these initiatives is evident. Over 16.6 lakh direct jobs have been created by DPIIT-recognised start-ups across more than 55 industries. These industries span beyond technology into areas like agriculture, healthcare and education, showcasing the diversity and potential of India’s entrepreneurial ecosystem.

Start-ups are not only transforming India’s economic landscape but also contributing to gender inclusivity. Women now constitute nearly 64 per cent of the agricultural labour force, and targeted programmes aim to bring more women into leadership roles in entrepreneurship, thus bridging gender disparities.

Holistic ecosystem

Building an ecosystem that supports entrepreneurs from every corner of the country has been a cornerstone of the Startup India initiative. Efforts to achieve this include:

Capacity building and hand-holding: Workshops under the States’ Startup Ranking Framework and targeted sessions for incubators in non-metro regions have equipped entrepreneurs with knowledge, mentorship, and tools to scale their ventures.

Outreach and awareness: Programmes aimed at increasing visibility and access to resources have been organised in collaboration with State and UT administrations. Initiatives like start-up showcases allow budding entrepreneurs to pitch their ideas to investors, opening doors to funding and partnerships.

Ecosystem development events: Flagship events like the Startup Mahakumbh bring together entrepreneurs, investors, and mentors from across the nation to foster collaboration. Similarly, ASCEND workshops in the North-East focus on nurturing local talent and innovation.

International linkages: With the institutionalisation of the Startup20 Engagement Group under India’s G20 Presidency, start-ups gained access to global markets, resources, and collaborative opportunities.

Recommendations for enhancing the ecosystem include:

Strengthening regional ecosystems: Establish localised incubation hubs to provide targeted support in tier-2/3 cities.

Facilitating grassroots innovations: Empower rural entrepreneurs through specialised programmes and funding opportunities, fostering grassroots innovations.

The writer is National Spokesperson, BJP