8625 Startups Recognized By the Government: CR CHAUDHARY

A total of 8,625 startups have been recognized under the startup India program, as per the data available with Startup India, Minister of State of Commerce & Industry, C. R Chaudhary informed in a written reply in the Rajya Sabha.

“As per the data available with Startup India, a total of 8,625 Start-ups have been recognised as on 30 March, 2018”, the Minister said.

Of the total number, over 2711 startups were incorporated in the year 2-17-18, he further informed.

However the official website informed that till date over 8783 startups have been recognized and over 99 startups have been funded so far.

Highlighting the initiatives taken by the office, Chaudhary said Department of Industrial Policy and Promotion (DIPP) has issued detailed norms to assess the performance of States in promoting Startups on 6th February this year.

“This initiative will help bring to fore progress made by the States and Union Territories for promoting Startup ecosystem, foster competitiveness and propel them to work proactively to identify, learn and replicate good practices”, the Minister added.

Also the government has rolled out state wise startup ranking framework to make the overall environment more competitive.

“The ‘State Startup Ranking Framework’ is spread across 7 areas of interventions with a total of 38 action points and overall score of 100 marks”.

The areas of interventions include Startup policy and implementation, incubation support, seed funding support, venture funding support, simplified regulations, ease of public procurement and awareness and outreach, an official release said.