Multiple schemes such as the Seed Fund Scheme, Fund of Funds Scheme, and Credit Guarantee Scheme for Startups, among others, have been launched to enhance the startup ecosystem. (Image: iStock/ET NOW NEWS)
To build a strong ecosystem for nurturing innovation in the country, Prime Minister Narendra Modi on January 16, 2016, launched the ‘Startup India Initiative.’ In 2022, the Prime Minister declared the day as the ‘National Startup Day’. Thus, the year 2024 marks the completion of eight years of the launch of Startup India. Over the years, the Indian startup ecosystem has grown from 400 in 2016 to more than 1,17000 till date. It is spread across all 36 States and Union Territories (UTs) of the country.
The Startup India initiative also plays a significant role in realizing the vision of Viksit Bharat @2047, the Prime Minister’s clarion call to make India a developed nation by 2047, the 100th year of independence. The Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce and Industry, is organizing the Startup India Innovation Week 2024 to celebrate the Indian Startup Ecosystem and the National Startup Day.
Multiple schemes such as the Seed Fund Scheme, Fund of Funds Scheme, and Credit Guarantee Scheme for Startups, among others, have been launched to enhance the startup ecosystem. The government has also formed a ‘Startup20 Engagement Group’ to create a global narrative for supporting startups and enabling synergies among other stakeholders.
Ankit Goel, Founder and Chairman of Space World Group (Constl) said that the National Startup Day fuels passion to create a robust digital foundation, shaping the future. The company works in the digital infrastructure space. “In the vast landscape of possibilities, we build the bridges that connect ideas to reality. Today, we celebrate not just the Space World Group and its entities but the collective spirit of startups worldwide. Every challenge is an opportunity, and in this fast-paced digital era, our commitment to pushing boundaries defines our journey. To fellow entrepreneurs, embrace the dynamism, challenge the norm, and let the heartbeat of innovation resonate globally.”
Pravin Dubey, Founder, Webclixs said, “In my role as a leader in Digital Marketing, I am deeply committed to the transformative power of ground-breaking ideas, resonant strategies, and the unwavering dedication to turn visions into vibrant realities. Today, let’s wholeheartedly embrace the entrepreneurial spirit. In the digital realm, every click, share, and connection possesses the potential to redefine our future.”
