Govt-recognised startups double under Modi’s India
While the increase has been across the number of recognised startups and funding given by AIFs, the ruling party BJP had announced multiple sops, earlier this week, for startups in its election manifesto including a seed fund of Rs 20,000 crore and up to Rs 50 lakh collateral-free credit.
- The number of recognised startups under DPIIT has increased to 17,713 as on April 11, 2019.
- The number of startups recognised under the scheme has jumped 97 per cent to 17,694 till March 2019 from 8,939 till March 2018, according to the data sourced from the Ministry of Commerce and Industry.
- From Rs 569.58 crore deployed by AIFs as on March 31, 2018, the amount increased to Rs 1403.55 crore as on March 31, 2019.
- Till the end of March last year, 120 startups were funded by AIFs compared to 218 startups for the same period this year, the data showed.