8,625 start-ups recognised in India

As per the data available with Startup India, a total of 8,625 start-ups have been recognised as on 30 March, 2018 and of this 2,711 start-ups where incorporated in FY2017-18.

In a written reply in the Rajya Sabha, Minister of State of Commerce & Industry, C. R. Chaudhary said there are 8,625 start-ups as on 30th March, 2018.

The Minister said that 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 and 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 further said, “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.”