At present there are about 60,000 startups in the country. Of these, 44 are unicorns. Unicorn means that the valuation of that startup is more than 7 thousand crores.
Also, India is the third largest startup ecosystem in the world. In the year 2020 alone, more than 15,000 startups were established here. This is the reason why promoting startups and its ecosystem is a priority for the government.
In fact, recently the Prime Minister has announced that from now onwards every year on January 16, Startup Day will be celebrated in the country.
In addition, 46 startups along with one incubator and one accelerator were recently declared the winners of the National Startup Awards 2021.
In this, the winning startup founders will get a cash prize of Rs 5 lakh and a chance to present their solution to the concerned government authorities and corporates. The Incubator and Accelerator will get Rs 15 lakh as the winning amount.
A startup is a company with a new idea that has recently started its operations.
New businessmen work together on a new idea. Through this type of company, a new type of product or service is given to the customers. After the startup is successful, they make their mark as a big company.
The Government of India has fixed certain definitions of startups such that the headquarter of such company should be located in India; His annual income should not exceed Rs.100 crores; It should not have been more than 10 years since its inception and should have some new idea.
Currently, 5 sectors are witnessing maximum startup growth, which include cloud computing and big data, education, mobile, social media and e-commerce.
A Startup India initiative was launched by the Government of India in the year 2016 to promote innovation and startup ecosystem in the country.
It focused on three-four key points such as facilitation and handholding, financing support and incentives, industry-academy partnership and incubation etc.
The program was designed by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry.
Apart from this, several other steps have also been taken by the government to promote the startup ecosystem in India.
Including the ranking of states on the basis of startup ecosystem, SCO Startup Forum, Prarambh Summit, Startup India Seed Fund Scheme and Fisheries Startup Grand Challenge.
However, there are still many challenges that remain in the way of realizing the true potential of startups in India, for example, issues like regional imbalances, digital divide, funding problems and hiring of good employees if resolved. If so, this can give further impetus to the startup ecosystem.
To do even better in this direction experts suggest that we need to make children aware about entrepreneurship skills even at the school level.
Apart from this, startups related to agriculture should also be promoted. For example, about 500 farmers from the villages of Doda district in Jammu, who used to cultivate maize earlier, later gradually they started cultivating lavender.
Due to the cultivation of lavender, the income of these farmers has quadrupled. This is being given the name of ‘Violet Revolution’.
This has been possible due to the initiatives taken under Aroma Mission.
Many aromatic crops such as mentha, poppy, palmarosa, geranium can be grown in areas where there is less rainfall and also where there are frequent floods.
To promote such low cost crops, the government has started Aroma Mission.
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